AIG chief threatens to quit

NEW YORK, Nov. 11 (UPI) -- Robert Benmosche, chief executive officer of American International Group, threatened to quit over U.S. Treasury pay restrictions, sources close to AIG said.

Benmosche told the AIG board of directors he was considering stepping down after four months on the job due primarily to the Treasury's control of salaries for top executives of companies that received extraordinary assistance from the Troubled Asset Relief Program, The Wall Street Journal reported Wednesday.

Benmosche made the threat despite his status as the top-paid executive among the companies where the Treasury controls some salaries.

The company has received $180 billion in federal assistance. Treasury pay master Kenneth Feinberg, nonetheless, approved a $10.5 million pay package for Benmosche, MarketWatch reported.

Benmosche succeeded government appointed Ed Liddy, who worked for no salary.