Editor's Note: Special Inspector General of the Troubled Asset Relief Program Neil Barofsky originally delivered this report to the House of Representatives Committee on Oversight and Government Reform. Read the full report.
Neil Barofsky has been referred to as the "TARP Watchdog" since appointed the position in December. Presenting this report to the House Committee on Oversight and Government Reform, Barofsky reveals a detailed account of just how AIG structured their complex system of compensation and bonus plans. From a $7,800 "retention award" to a kitchen assistant to more than $3 million to an executive, the company rewarded an extensive amount of bonuses even after it's taxpayer funded bailout in 2008. But why didn't the government step in? Read the full report and see a timeline of when both government officials and company executives knew of key AIG Compensation Matters.
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