15 of 20 AIG Bonus Recipients Return Ca$h

Tuesday, March 24, 2009

aigcrooks

There may not be a Santa Claus but there is New York Attorney General Andrew Cuomo.

On a conference call with reporters Monday, Cuomo said that of the top 20 executives who received the biggest bonuses, 15 have given them back in full. The amount returned so far is about $50 million. Of the top 10 highest earners, 9 have returned their bonuses.

According to Cuomo, the investigation into the distribution of the bonus cash continues. “I am trying to get the money back because I believe that is what the American people deserve,” said Cuomo.

“I am hopeful that more AIG employees will heed the example set by their colleagues and pay the money back,” said Cuomo.

According to documents obtained last Friday by Connecticut Attorney General Richard Blumenthal, AIG’s Connecticut-based Financial Products unit paid $218 million in bonuses, not the $165 million the company previously acknowledged

This entry was posted in AIG, Bailout, News, U.S. Economy and tagged , , , , , . Bookmark the permalink.

7 Responses to 15 of 20 AIG Bonus Recipients Return Ca$h

  1. Joe in Colorado says:

    As I see it, New York AG Andrew Cuomo just did President Obama and Tim Geithner a big favor. I find it curious that a state AG can exert pressure on AIG but the White House and Treasury can’t. In any event, thanks for staying on this outrageous story, Christopher.

  2. Joe,

    I think you make an excellent point.

    If Obama went through Cuomo to begin the process of getting the AIG bonuses returned, Obama gets to stay above the fray, indirectly benefit and it will make it less damaging when the president refuses to sign the 90% tax bill passed by the House last week.

  3. feminazi says:

    Andrew Cuomo is a good man. If he runs for New York governor, he will be great. I always thought Paterson made a mistake not selecting him to be Hillary Clinton’s senate replacement. His veins surge with good, old-fashioned liberal blood.

  4. libhomo says:

    Cuomo needs to name names. The public has a right to know who got these bonuses.

  5. bradfrmphnx says:

    Atta Boys for those who did the right thing. Getting the money back from the out of country bonuses probably won’t happen. It was a story that epitomised corporate America’s greed at the expense of the common man.

    TG’s coming out with some new oversights into the banking industry today. I like that. After their telling us how things will be for so long, and our subsequent bailing them out, its time for them to listen. Although against the idea at this time, I’m ready to nationalize them if oversights can’t keep them in control. I do think the fed should be nationalized and its assetts liquidated.

  6. Harry says:

    Props to AG Cuomo. He’s a fearless guy and not afraid to go mano-e-mano with the corporate thugs ruining this country.

  7. Aunt Peg says:

    I’m a fan of Andrew Cuomo and I think he will run against Gov. Paterson in 2010 and be elected.

    I have family members in New York in the Hudson Valley and they’re certain he will run for governor.

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