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Now that we all have universal health care (wait? It doesn’t really kick in for four more years? Oh), the White House has given us another piece of progress from the “probably should have happened a long time ago” file. Yes, now that only a handful companies are still benefitting greatly from public assistance, the [...]
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It seems it was too much weight on the conscience of those AIG executives who received undeserved bonuses. Or maybe it was the call from New York Attorney General Andrew Cuomo to each of the 20 executives who received the highest rewards that did it. Either way, 15 of the 20 have paid back their entire bonus. Cuomo stated that approximately $50 million of the $165 million has been returned so far and he expects even more AIG employees will hand over their loot.
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AIG created a firestorm over the weekend when it announced it would pay an additional $1 billion in bonuses to its top executives, claiming they are tied to the payouts by contract. Americans were furious after learning their taxpayer money would go towards rewarding executives of the insurance giant who were, for the most part, responsible for its fall.
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