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Financial Planning > Behavioral Finance

Panel Displays AIG Contracts

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The House Financial Services Committee has responded to interest in AIG Financial Products Corp. bonuses by posting the unit’s employee contracts on the Web.

American International Group Inc., New York, says contracts require it to pay $165 million in retention bonuses to the executives of the unit, which sold highly unsuccessful credit default swaps arrangements and other financial arrangements.

Members of a House Financial Services Committee subcommittee discussed the bonuses today at a hearing.

The committee has posted copies of the basic contract and two related documents here. .


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