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Archive for Tuesday, March 24, 2009

Cuomo: 15 AIG execs to return bonuses

March 24, 2009

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— New York Attorney General Andrew Cuomo said Monday that 15 employees who received some of the largest bonuses from American International Group Inc. have agreed to return the more than $30 million worth of payments in full.

In total, AIG employees have agreed to return about $50 million of the $165 million in bonuses awarded earlier this month by the troubled insurer, Cuomo’s office said.

Cuomo said he still hopes that more AIG employees will return their bonuses. At most, Cuomo said his office could hope to recoup $80 million of the bonuses — roughly the amount paid out to American employees.

Cuomo said 9 of the 10 people receiving the largest awards have agreed to return their bonus. Additionally, 15 of the top 20 bonus recipients have consented to returning their money. Cuomo said some have refused to return the money, while others are still considering it.

Comments

gr 5 years ago

You think it won't pass? Why are any returning the bonuses which were ok'd earlier? Why is BO wanting to take over all "key" businesses which "could" affect the economy?

Why does this look, feel, and smell like socialism? Why are communist countries concerned about us going into debt? Lot's of questions. Not many answers.

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madmike 5 years ago

And congress shouldn't be allowed to pass a "retroactive" tax. If you let them get away with it on a group of people that the public dislike now, what will you do when they pass one on you?

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madameX 5 years ago

You mean the 90% tax that passed the House but is stalled in the Senate and that the President alluded to his reservations about on 60 Minutes over the weekend? The one that probably won't ever actually become law? No one can owe anything on a tax that doesn't exist.

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madmike 5 years ago

Illegal to tax it in the first place.

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gr 5 years ago

And returning the money will stop the 90% tax they owe?

Foolish to return it.

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