15 AIG executives agree to give back bonus money

March 23, 2009 – 9:37 pm – No Comment

15 of the highest paid executives at AIG have agreed to give back their bonuses in full, totalling around $30 million.

[New York Attorney General Andrew] 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.

“We are deeply gratified that a vast majority of Financial Products’ senior leadership have expressed a willingness to forsake their recent retention payments,” wrote spokeswoman Christina Pretto in a statement e-mailed to The Associated Press. She added that the company is continuing to review the responses of the other employees.

Well it is nice that some people are owning up to stealing from taxpayers, but Cuomo only expects to get, at most back $80 million of the $200 million plus paid out in bonuses. So, while some employees are doing what is right by giving back their bonuses, others are still going to be under fire.

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