compensation package. neil: would there be a number that you would immediately say whoa, whoa, whoa? i have to look at the submissions and see what the number is they re proposing and why. i can t prejudge this. i ve just received the data for 2010. i m confident that unlike the retention payments not on my watch and i m trying neil: understood. all right? when it comes to pprospective compensation in 2010 for the top 25 individuals at aig including some in the financial products division, that is on my watch. neil: excuse my ignorance. is it still under your purview when they return all the tarp dough no. neil: so, so that s my point.
not rewarding or finding a way around rewarding it? the money is going back to the very folks as you know, sir, who got the company in the pickle it eventually landed in. under the law i m administering i ll do what i can in 2010 compensation, where i do have jurisdiction, to try and make sure that the retention payments are taken in account when i set perspective pay in 2010. i m not prepared to challenge valid contracts enter into years ago. neil: still, mr. feinberg people look at this and say if this is a preview of coming salary or contract arbitration attraction, the other side has you. look, i m angry about this. the fact of the matter is this is the end of the retention contract problem. these contracts were entered into in 2007 before they
and, shep, this new round of bonuses totaling 100 million is for just one division of the company, by the way, the one that took the risky financial bets that sank a.i.g. shepard: the white house s special master on executive pay says there is not much he can do about this at all. we will just call him the pay czar. ken feinberg says these bonuses were locked in, as you mentioned, under employment contracts written before the government took over a.i.g. in 2008, before the congress even approved the tarp and its pay restrictions. they are legally binding contracts. but, feinberg says he has the power over future compensation at a.i.g. and will take into account these bonuses in setting new pay levels at the company. am i angry about this? absolutely. will i take all of these retention payments into account in my prospective compensation decisions for 2010? absolutely. feinberg also says he has