Thu, March 26, 2009

AIG bonus scandal

AIG execs agree to return US$50M bonuses: officials

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. Full story


AIG stays in the hotseat

For some taxpayers, AIG is now a symbol of what's gone wrong with the US government's bailout plan.


Do you support a 90% tax on AIG post-bailout bonuses?
Yes, AIG deserves it.
No, it's too high.
No, AIG should give all bonuses back.


News highlights


AIG executive resigns over bonus betrayal

2009-03-26 03:40:39 GMT China Daily CHARLOTTE, N.C. -- An American International Group Inc. executive who received a bonus worth more than $742,000 after taxes has resigned publicly, in an Op-Ed column in The New York Times.

Fed's Bernanke wanted to block AIG bonuses

2009-03-24 14:17:45 GMT Federal Reserve Chairman Ben Bernanke told Congress Tuesday he wanted to sue to stop insurance giant AIG from paying millions in bonuses, but was talked out of it.

Fed, Treasury chief to get grilled on AIG

2009-03-24 08:28:07 GMT WASHINGTON – The Federal Reserve's chairman and the secretary of the treasury are making a rare joint appearance at a congressional hearing, ostensibly to take a scolding over the handling of bonuses at AIG, the giant insurance company that has become the symbol of reckless risk-taking on Wall Street.

AIG top employees agree to return big bonuses

2009-03-24 07:36:02 GMT NEW YORK, March 23 (Xinhua) -- Fifteen of 20 top employees who received some of the biggest bonuses from American International Group (AIG) have agreed to return them back in full, which is more than 30 million dollars, New York Attorney General Andrew Cuomo said on Monday.

AIG bonus outrage


Obama trying to temper furor over AIG bonuses

2009-03-24 08:25:52 GMT SINA English WASHINGTON – President Barack Obama is trying to dampen a fire he once stoked, urging a more tempered response to public furor over bonuses paid to executives of the publicly rescued insurance giant American International Group.

Officials: Obama must turn AIG anger into support

2009-03-22 22:22:31 GMT WASHINGTON - Three prominent elected officials want President Barack Obama to channel the public anger over the AIG bonuses into action that supports public works projects.

Protesters visit AIG officials' lavish Conn. homes

2009-03-22 22:12:00 GMT FAIRFIELD, Conn. – A busload of activists representing working- and middle-class families paid visits Saturday to the lavish homes of American International Group executives to protest the tens of millions of dollars in bonuses awarded by the struggling insurance company after it received a massive federal bailout.

Angry activists on protest tour over AIG bonuses

2009-03-20 22:09:34 GMT NEW YORK – A group of 50 activists staged a touring protest Saturday against bailed-out insurance behemoth AIG, hiring a bus to demonstrate outside the firm's headquarters and a number of personal residences of top executives.

Photos & videos


AIG fury lingers

2009-03-25 03:22:29 GMT Reuters AIG continued to face intense scrutiny as lawmakers and several state attorneys general pry further into the highly $165 million bonus distribution.

Protestors: AIG = Arrogance + Incompetence + Greed

2009-03-24 07:28:14 GMT Protestors gather out in front of an American International Group (AIG) office during a rally calling on Congress to take action on employee free choice, health care, and banking reform in Washington, March 19, 2009.

AIG stays in the hotseat

2009-03-24 04:55:02 GMT Reuters For some taxpayers, AIG is now a symbol of what's gone wrong with the US government's bailout plan.

Selling a recovery

2009-03-24 03:52:49 GMT Reuters Anger over bonuses paid at bailed-out insurance giant AIG have threatened to overshadow Obama's economic agenda.