WASHINGTON–American International Group said a group of employees, agents and executives have agreed to defer payment of $93.3 million available to them through deferred compensation plans.
The decision was just one reaction to members' of Congress expressions of outrage over the lack of oversight by the government of bailout programs devised to save financial services industry companies.
The AIG decision was announced Wednesday. On Friday, reacting to the general criticism of the lack of oversight of government bailout programs, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, introduced legislation that would substantively revamp them.
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