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THURSDAY, NOVEMBER 26, 2009
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AIG Execs Repaying $50M in Bonuses: Cuomo

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(Newser) – New York Attorney General Andrew Cuomo said today that most of the top bonus recipients at AIG have agreed to return the money, amounting to more than $50 million, the Wall Street Journal reports. Fifteen of the top 20 beneficiaries of $165 million at AIG's Financial Products unit—which played a critical role in crippling the company—will give up the cash. "They are doing the right thing," Cuomo said.

About $80 million of the $165 million in bonuses that infuriated lawmakers and taxpayers alike went to Americans, Cuomo said, and he plans to recoup it. Some non-Americans, outside the legal reach of New York state, also returned bonus money, but some refused, the New York Times reports. Cuomo said he saw no public benefit in naming the AIG execs who agreed to return bonus money.

Code Pink protesters hold signs as Chairman and CEO of the American International Group Edward Liddy prepares to testify on March 18, 2009 in Washington, DC.
Code Pink protesters hold signs as Chairman and CEO of the American International Group Edward Liddy prepares to testify on March 18, 2009 in Washington, DC.   (Getty Images)
In this Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks in Albany, N.Y.
In this Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks in Albany, N.Y.   (AP Photo/Mike Groll, File)
In this Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks in Albany, N.Y.
In this Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks in Albany, N.Y.   (AP Photo/Mike Groll, file)
In this June 11, 2008 file photo, New York Attorney General Andrew Cuomo, right, speaks at a news conference in Albany, N.Y.
In this June 11, 2008 file photo, New York Attorney General Andrew Cuomo, right, speaks at a news conference in Albany, N.Y.   (AP Photo/Mike Groll, file)
A car speeds past the AIG sign, Thursday, March 19, 2009, at AIG's financial products offices in Wilton, Conn.
A car speeds past the AIG sign, Thursday, March 19, 2009, at AIG's financial products offices in Wilton, Conn.   (AP Photo/Stephen Chernin)
A protester holds a sign in the financial district of Chicago before marching towards AIG offices Thursday, March 19, 2009.
A protester holds a sign in the financial district of Chicago before marching towards AIG offices Thursday, March 19, 2009.   (AP Photo/M. Spencer Green)
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5 comments
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SPH
Mar 23, 09 8:30 PM CDT
I see a public benefit in naming the AIG execs who DON'T agree to return bonus money.... Reply
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0
IN RESPONSE:
Ioptout
Mar 23, 09 8:50 PM CDT
kill the rich
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0
IN RESPONSE:
bacimom
Mar 24, 09 10:56 AM CDT
me too
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0
MrBisme
Mar 24, 09 8:12 PM CDT
It's easy for the simple minded to go along with the mob mentality. Grow an opinion and think about what you say before you embarrass yourself and your country. Reply
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0
TerrifiedCitizen
Mar 25, 09 11:49 PM CDT
You're doing a wonderful job Mr Cuomo... But I would like to see you seriously take on B of A. If you're aggressive against the giant FiscalChurch itself, then you could be the governor we've been waiting for. Reply
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