FOREX TRADERS

[Nettles]

to be blunt, crap like this makes me want to puke

Bonus kerfuffle cost taxpayers, says AIG boss
By Sam Mamudi
Last update: 8:54 a.m. EDT April 13, 2009
Comments: 5
NEW YORK (MarketWatch) -- The outcry over bonuses paid to executives of American International Group (AIG:
AIG 1.16, +0.08, +7.4%) likely hurt taxpayers because the unwinding work of its financial products unit was set back by weeks, the unit's chief told The Wall Street Journal. In an interview in Monday's paper, Gerry Pasciucco said about 20 out of 370 staff left amid the controversy and remaining staff were so "stunned" that their work slowed down. The unit needs staff familiar with its portfolio to help maintain hedges on current trades, he said. Pasciucco added that the unit's trading partners were concerned about being dragged into the situation. Staff are worried that their pay could again come under political attack, said Pasciucco. End of Story