AIG CEO Robert Benmosche gave an interview to today's Wall Street Journal, the first he's given in a long while, after a series of cockups this summer and fall. He doesn't address his hissy fit and threats to quit, but it's good that he's getting back out there, and he does try to clear a few things up. For instance: "Many people think there was no penalty for the executives at AIG when it did poorly," he said. "But if you look at where they've been this year, they've been pretty much wiped out." Oh no, that's sad! How wiped out? Benmosche doesn't shy away from giving us the ugly numbers.
Mr. Benmosche said 10 individuals who report directly to him have lost a combined $168 million in prior years' pay since the U.S. bailout of AIG in September 2008. Another five employees at AIG's financial-products division, who are unwinding its derivative trades, have lost $88 million in prior pay.
God, those poor people! Will they even be able to celebrate Christ — wait, no. Okay, maybe it wasn't such a good idea for Benmosche to get back out there.