Bank Of America, AIG Keep Plans To Pay Big Bonuses

from National Public Radio

Bank of America, the largest lender in the U.S., plans to pay its investment bankers bonuses totaling about $4.4 billion for the past year — which works out to about $400,000 for every employee in the unit, according to a report in Bloomberg News. The insurance giant AIG is also forging ahead with plans to pay out bonuses worth about $100 million to employees of its financial products division. Some have been critical of the move because the unit was responsible for nearly bankrupting the company.

Broadcast Dates

• Morning Edition, February 3, 2010