AIG, flush with cash from taxpayers, has begun the process of handing out millions to its executives.

Named executive officer Jay Wintrob is receiving a prize of $3 million, according to the company's 8-K filing with the Securities and Exchange commission.

He's not the only one cashing in on the taxpayer-funded infusion of fresh capital. Over 130 executives will participate in the retention bonus plan.

Some executives are pulling the ripcord on their million-dollar golden parachutes, the report continues. Executive officer Robert M. Sandlerwas paid a total of $2,514,168 in separation pay according to the report.

AIG will pay its executives millions in taxpayer dollars over the next few months, according to the company's 8-K filing.

Asked to comment on the payouts, Wintrob had this to say:

"Jackpot, bay beeeeee!"

The smart money is removing it from banks, according to the Wall Street Journal today.

"During the past week, large companies like General Motors Corp. and Texas beauty-care retailer Sally Beauty Holdings Inc. have drawn funds typically set aside for short-term working-capital needs, such as retooling a plant or a product launch. These companies say it is best to get the cash now, for fear that a bank may withhold it or be unable to deliver the funds down the road."

Hmmmmmmm.

http://online.wsj.com/article/SB122230155726873455.html