Showing posts with label "It's time for greatness -- not for greed. It's a time for idealism -- not ideology. It is a time not just for compassionate words - but compassionate action." -Marian Wright Edelman. Show all posts
Showing posts with label "It's time for greatness -- not for greed. It's a time for idealism -- not ideology. It is a time not just for compassionate words - but compassionate action." -Marian Wright Edelman. Show all posts

Wednesday, March 18, 2009

More on AIG...

AIG's CEO Edward M. Liddy has told congress today that he asked executives at AIG to "do the right thing" and return at least half of the $165,000,000. According to Liddy, some of the employees have already agreed to return all of their bonus.

**also,
Apparently seven executive members of AIG's Financial Products Unit had recieved over 4 million dollars each in bonus-money. Ironically, it's this same Financial Products Unit that is blamed for putting AIG into the "financial turmoil" that eventually forced the government to bailout the company with 170 billion dollars...
***



"Specifically I've asked those who received retention payments in excess of $100,000 or more to return at least half of those payments, some have already stepped forward and offered to give up 100 percent of their payments." -Liddy.

The CEO also said that he was reluctant to reveal the names of those who agreed to return their bonuses and those who refused because the public has been so angry that AIG employees have received death threats.