Bank Of America, AIG Keep Plans To Pay Big Bonuses
LINDA WERTHEIMER, host:
NPR's business news starts with bonuses for bankers.
(Soundbite of music)
WERTHEIMER: Bank of America, the largest lender in the U.S., plans to pay its investment bankers bonuses totaling about $4.4 billion for last year that works out to about $400,000 for every employee in the unit; that's 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.
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