AIG Has Paid Out 32% More in Bonuses Than Previously Reported

From The Guardian:

Embattled American insurance giant AIG, which is at the centre of a huge political row over bonuses, has paid out far more than previously thought to its executives, it was revealed yesterday.

In shelling out a reported $165m in bonuses to its top staff, AIG had already caused an almost unprecedented wave of anti-corporate anger in the US. The row has rocked President Barack Obama’s administration and prompted new laws in a bid to try to claw back the money.

But now documents obtained by Richard Blumenthal, the attorney general of Connecticut, where AIG has offices, show the firm in fact has in fact paid out $218m in bonuses, 32% more than previously thought. The shocking news is certain to further inflame popular emotions against AIG, the financial sector as a whole and embattled Treasury Secretary Tim Geithner.