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AIG Execs Ignore Vow to Return Bonuses

Only $19M of promised $45M has been repaid

By Rob Quinn,  Newser Staff

Posted Dec 23, 2009 1:08 AM CST | Updated Dec 23, 2009 7:30 AM CST
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(Newser) – Execs at the AIG division responsible for the company's downfall have decided they deserve those hefty bonuses after all. Top earners at the bailed-out company promised to return $45 million in bonuses by the end of this year amid public outrage at the payments, but only some $19 million has been returned, the Washington Post reports.

"They have a contractual right to be paid this money. They put in their time, and they have performed all their obligations successfully," declared a lawyer for some of the executives. Company officials told the workers that their promises to return the cash were voluntary and nonbinding, according to the attorney. AIG is scheduled to award another $195 million in bonuses next March.

A protester holds a sign before marching toward AIG's offices in Chicago's financial district earlier this year.
A protester holds a sign before marching toward AIG's offices in Chicago's financial district earlier this year.   (AP Photo/M. Spencer Green)
American International Group's offices looms over a Manhattan street.
American International Group's offices looms over a Manhattan street.   (AP Photo/Mark Lennihan, file)
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COMMENTS
Showing 3 of 7 comments
Jojo
Dec 23, 2009 9:54 AM CST
Oh you mean that imaginary man that floats around and is somehow responsible for all, unless you ask "well why did he let this happen then?" and then it's "God has his reasons"? Oh ok....
Mr.C
Dec 23, 2009 9:13 AM CST
God will sort it out. :)
passinthru
Dec 23, 2009 8:48 AM CST
the only thing those corporate scumbags are "entitled" to is a swift kick in the ass. i hope somebody finds a way to make these fuckers pay.

 
executive compensation • AIG • bonuses • Wall Street bailout • Kenneth Feinberg • AIG bonuses

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