73 Execs At AIG Get Bonuses Of $1 Million Or More – 11 Say Thank You by Quitting

March 17, 2009

(ChattahBox) — While the U.S. government is looking for ways to deal with the outrage surrounding insurance giant American International Group’s controversial bonuses, New York Attorney General Andrew Cuomo informed Congress in a letter Tuesday, that AIG paid bonuses of $1 million or more to 73 employees. The largest bonus paid was $6.4 million and seven more employees received more than $4 million each. Fifteen other people received bonuses of more than $2 million, and 51 people received bonuses between $1 million and $2 million, Mr. Cuomo said. Very good money indeed considering it would be fair to say these people totally failed to do their jobs properly and cost the company and the country billions.

AIG insists the payouts are needed to keep these ‘talented executives’ on the payroll, but Cuomo also wrote that 11 of the employees who got the bonuses no longer work for the company.

“Until we obtain the names of these individuals, it is impossible to determine when and why they left the firm and how it is that they received these payments,” Cuomo wrote to Representative Barney Frank, the chairman of the House Committee on Financial Services.


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