Bernanke Says AIG Tightens Grip On Perks, Pay


	Bernanke Says AIG Tightens Grip On Perks, Pay

Forbes Markets

3-11-2009 12:48 PM

433 views

tags:

aig, corporate governance, perks, executive compensation

Forbes Markets says:

Another sign of how Fed and Treasuary are slowly starting to manage their new charges...

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/95101fcb-8d1e-4e8b-b95d-c2ead3a12033/7F01E311-7E14-4066-BF44-75BF64068118/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/ousiv/idUSTRE52A0SY20090311" href="http://www.reuters.com/article/ousiv/idUSTRE52A0SY20090311" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/ousiv/idUSTRE52A0SY20090311"><P>Gone are the days of luxury California hotel retreats for executives of bailed-out U.S. insurance giant American International Group.</P><SPAN id="midArticle_1"></SPAN>
<P>Once mighty AIG has a new employee expense handbook, a special governance committee, and strict limits on executive pay, according to a letter from Federal Reserve Chairman Ben Bernanke to Senator John Kerry that was obtained by Reuters on Tuesday.</P><SPAN id="midArticle_2"></SPAN>
<P>The new expense policy was mandated by the U.S. Treasury Department and "may be materially amended only with the prior written consent of the Treasury," Bernanke said.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7F01E311-7E14-4066-BF44-75BF64068118/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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