AIG Paying $450M To Keep Derivative Employees?... WTF

Bailed-out insurer American International Group, Inc. (NYSE: AIG) offered $450 million in retention pay for employees of the derivatives unit, which was responsible for about $34 billion in write-downs, according to a report from Bloomberg.

About 400 workers in the financial products unit are set to get the money in two instalments.

This will bring the money committed to retain employees at AIG to more than $1 billion, according to the report. AIG disclosed the existence of the unit's retention program in regulatory flings, including the quarterly report in August.

With the mood in Washington and Main Street being what it is, this is likely to raise a lot of eyebrows and outrage.

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