73 AIG Execs Got $1M Bonuses: Cuomo

NY AG releases breakdown of bonus figures; plans to press AIG for names

(NEWSER) - AIG's $165 million in bonuses went 418 different ways, according to one angry attorney general. Other figures released by New York Attorney General Andrew Cuomo, who subpoenaed the firm on Monday:

• 73 employees received bonuses of $1 million or more
• 11 of those people no longer work for AIG
• 7 employees received bonuses of more than $4 million
• The top recipient received a $6.4 million bonus

Big finance could face populist pitchforks

(NEWSER) - Bailed-out Wall Street execs handing themselves hefty bonuses this month should prepare for outrage not only from Dems inside the Beltway but from tea partiers, who hold their first convention in Nashville next month. The rage that has been focused on big government and health care reform could easily swing toward Wall Street, Gerald Seib writes in the Wall Street Journal . More»

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

(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. More»

Feinberg beefs up base base to help firms retain talent

(NEWSER) - Base pay will increase for the majority of top execs in the finance and auto firms supervised by federal pay czar Kenneth Feinberg. Salaries are being bumped up—by hundreds of thousands of dollars in some cases—as bonuses and other perks are slashed. Despite the salary hikes, all 136 execs at the seven firms overseen by Feinberg will end up making much less than last year. More»

He tells employees they won't lose salaries retroactively

(NEWSER) - Ken Feinberg won’t take your money, AIG’s chief executive told his employees yesterday. Hours after reports broke that the pay czar would be targeting the troubled insurance firm with salary caps, CEO Robert Benmosche sent a memo reassuring employees that “the Special Master's jurisdiction is quite limited, and we expect Feinberg's upcoming decisions on compensation to cover only the top 25 employees at AIG," reports Reuters. More»