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Marc Ambinder

Marc Ambinder - Marc Ambinder is the White House correspondent for National Journal and a contributing editor at The Atlantic. More

Marc Ambinder is the White House correspondent for National Journal. He previously served as the politics editor, and is now a contributing editor, for The Atlantic, where he curated the influential Politics channel on TheAtlantic.com and contributed to the magazine. He was also a chief political consultant to CBS News. Earlier, at NJ's Hotline, Ambinder was the founding editor of "Hotline On Call," a pathbreaking political news blog. He also worked as a producer and reporter for the ABC News Political Unit and was one of the founders of ABC's "The Note." Born in New York City, raised in Central Florida, Ambinder is a 2001 graduate of Harvard and lives in Washington, D.C.
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The AIG Retention Contract

By Marc Ambinder

Mar 18 2009, 11:27 AM ET Comment

Check it out -- the House Financial Services Committee released the 2008 AIG Financal Services division employee retention plan.  employeeretentionplan.pdf.  According to the document, the goal is to "provide incentives" for employees to "continue developing, promoting and executing" the business and to "recognize the uncertainty that the unrealized market valuation losses in AIGFP's super senior credit derivative and originally-rated AAA cash CDO portfolios have created for AIG-FP's employees and consultants." In other words -- the poor performance shouldn't adversely affect the bottom lines of the derivative traders.


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