Top AIG Bonus Receivers Returning The Cash

By: Stephen Smith
Topics: AIG

Nine of the top 10 recipients of AIG bonuses have agreed to return the money in full, according to New York Attorney General Andrew Cuomo.

In a conference call with reporters late Monday, Cuomo said that so far approximately $50 million has been retuned.

Cuomo said that his office has been working with AIG to asses the status of the $165 million in bonuses paid on March 15 – roughly half of which went to U.S. citizens. He said of the top 20 recipients, 15 had agreed to return the money.

The attorney general said he hopes to recoup $80 million back from Americans who received bonuses, but for people out of the country, which Cuomo has no jurisdiction over, there is no word yet on how much of that money will be returned.

Citing a "new era of corporate and individual responsibility," Cuomo said that the individuals who have agreed to return the bonuses have done the "right thing."

"It's what our country needs and demands," Cuomo said.

Cuomo said he had no interest in releasing the names of individuals who returned the money.

Stephen Smith
Stephen Smith is a news producer and sports editor for CBSNews.com

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by msay3 March 24, 2009 8:15 AM EDT: The first 4 years of President Obama's deficit is their fault, it's the mess they made that real American patriots will now have to clean up.

It's always thus, after the Repugs have the Hill and the House. Posted by bobbyduck1 at 8:43 PM : Mar 23, 2009
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The House and Congress gained control in 2007, headed by Nancy Pelosi.....They had two years to screw things up before Obama took office.....; Reply to this comment


by msay3 March 24, 2009 7:50 AM EDT: Geithner didn't want legal contractual issues when he urged congress to insert a loop hole in the financial bail-out bill......What about the AIG execs who took the "retention" bonuses and then turned around and QUIT!? Seems to me that they could be sued for breech of contract and be made to return their bonuses....; Reply to this comment


by grabandgo March 24, 2009 6:41 AM EDT: We need to get rid of Democrats and Republicans.
Time to put Americans for America in Washington.; Reply to this comment


by chuckieinlove March 24, 2009 2:59 AM EDT: The AIG bonus 'issue' is a smokescreen. What about bonuses given to partners and execs of Goldman Sachs, Merrill Lynch, Morgan Stanley et al? The bailed out banks gave out billion$ in 2008 bonuses. Some AIG execs give back their bonuses, and the word will be "see, they gave it back, it's all fixed." Not so fast.; Reply to this comment


by perk235 March 23, 2009 11:29 PM EDT: Why are we bailing out other countries. Only half of the people who got the bonuses are Americans. Good luck on getting back the out of country money.
Posted by kiawest at 3:42 PM : Mar 23, 2009
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The over $1 TRILLION of OUR MONEY that the Federal Reserve, just last week, is giving to financial institutions, would pay ALL FORECLOSED HOMES FROM 2007 to 2008.

If the wealth elite were interestsed in helping average Americans, they would. Instead they are spending OUR MONEY on their buddies' private businesses.; Reply to this comment


by govwatch2 March 23, 2009 11:20 PM EDT: They are idiots. That money legally belongs to them. This whole mess is congresses way of diverting attention away from the real problem, their spending. Did you know that the total bonuses are no more than 0.01% of what congress spent on pork, and less than 0.1% of what congress gave AIG?

What do you think your money is worth right now? It's about 30 cents on a dollar. Thanks democrats.; Reply to this comment


by frankly6 March 23, 2009 10:59 PM EDT: This kind of thing really upsets Rushpublicans who want Obama and the country to fail.; Reply to this comment


by perk235 March 23, 2009 10:57 PM EDT: What people don't seem to understand is that we are covering the DEBTS that these banks owe, part of which are foreign debts.
Posted by democracy1 at 6:55 PM : Mar 23, 2009
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Agreed. The first bailout had provisions to be able to give money to foreign entities. I assume the second one did too.

And the over $4 TRILLION of OUR MONEY that the Federal Reserve is handing out will assuredly to pay debts to domestic and foreign people and entities. However, no-one really know what the Federal Reserve does with OUR MONEY. They are a private corporation, and their books are closed.; Reply to this comment


by BC Kelly March 23, 2009 10:54 PM EDT: Ok, quick survey ....

Which Corporate Executive rates highest in most polls ?

Most Admired, Most Innovative, Most Creative

About any "most" you can come up with

And a damn fine example of what USA needs more of

Steve Jobs of Apple

Oh yea

And his salary is $1.00 a year; Reply to this comment


by realityzone March 23, 2009 10:38 PM EDT: At least some of the AIG Execs knew deep down what was the right thing to do. Cudos to them for having the morals and ethics to do this. - debinok1

They don't deserve any form of kudos, they're greedy corporate scum and should repay every cent of bonus money; not just "some" of it.; Reply to this comment