15 of top 20 AIG execs have given back all bonus money...

[-Cp]

9 Of Top 10 AIG Execs To Give Back Bonuses
In Addition, N.Y. Attorney General Cuomo Announces That 15 Of Top 20 To Return Funds Equaling $50 Million

AG Cuomo To Bigwigs: "You Have Done The Right Thing"
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By JEFF CAPELLINI, WCBSTV.com Sr. News Producer
NEW YORK (CBS) ―

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Logo of troubled insurer American International Group Inc. Sept. 17, 2008, on a window at their office in the lower Manhattan area of New York.
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New York Attorney General Andrew Cuomo announced Monday evening that nine of the top 10 executives at AIG will return their bonuses.

The insurance giant came under scrutiny last week after it was revealed that company executives were scheduled to receive more than $165 million in bonuses following a taxpayer bailout.

In all 15 of the top 20 bonus recipients have agreed to give back the money, which equals approximately $30 million.

Cuomo released a statement on Monday night, which said:

"My office's investigation of AIG is continuing and we are proceeding with our security assessment for the employees. Through that process, my Office has been working with AIG and its employees in an attempt to assess the status of the $165 million in bonuses that were paid on March 15, 2009.

"We have been working our way down the list beginning with the recipients who received the largest bonuses. So far, 9 of the top 10 bonus recipients have agreed to give the bonuses back. Of the top 20, 15 have agreed to return the bonuses.

"Of the $165 million pool, we calculate that employees have agreed to return approximately $50 million. It bears noting that 47 percent of the $165 million pool went to Americans (approximately $80 million).


Full article:
http://wcbstv.com/breakingnewsalerts....2.965982.html

[The ClayTaurus]

It should be 20 out of 20 and 165 mill out of 165 mill.

[actsnoblemartin]

It should be 20 out of 20 and 165 mill out of 165 mill.

and obama should be re-called

dont hold your breath

[PostmodernProphet]

It should be 20 out of 20 and 165 mill out of 165 mill.

why not $50bil out of $50bil......the rest of the money that went to AIG is just as outrageous......

[Kathianne]

It should be 20 out of 20 and 165 mill out of 165 mill.

There's 5 more in US, those folks are probably no longer at AIG. The rest of the money is at overseas locations, Cuomo can't get it, so he says.

[glockmail]

It should be 20 out of 20 and 165 mill out of 165 mill.

Nah- if they fulfilled their contracts, they should get what was promised to them.

[Jagger]

It was the Bush administration that approved billions of dollars to AIG without requiring the company to nullify its bonus contracts.

[Kathianne]

It was the Bush administration that approved billions of dollars to AIG without requiring the company to nullify its bonus contracts.

Testifying today:

http://news.yahoo.com/s/ap/20090324/...nanke_geithner

...Bernanke said it was "highly inappropriate to pay substantial bonuses" to the employees. Bernanke said he asked that the payments be stopped but was told that they were mandated by contracts agreed to before the government seized control of AIG on September 16.

"I then asked that suit be filed to prevent the payments," he said. Legal staff counseled against this action on the grounds that Connecticut law provides for substantial punitive damages if the suit would fail. AIG's financial products division has a base in Connecticut.

[Nukeman]

It was the Bush administration that approved billions of dollars to AIG without requiring the company to nullify its bonus contracts.

Ohh lets not forget to state that Reagan was a socialist.... that is your one and only mantra isn't it???????

[Jagger]

Reagan was a socialist.

All I know is that he raised taxes seven times, signed off on expansion of socialist welfare and income redistribution programs, never even tried to cut spending, slowed down the rate of deregulation, grew the number of federal employees and stimulated the economy with huge budget deficits.