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View Full Version : Economics MSNBC: Cuomo gets 9 of top 10 AIG execs to give bonus money back


jAZ
03-23-2009, 04:00 PM
Interesting development.

mlyonsd
03-23-2009, 04:28 PM
If I had done my job well for AIG I'd keep the bonus.

HonestChieffan
03-23-2009, 04:30 PM
Amen. And how is Cuomo taking credit for this. Liddy made that request.

J Diddy
03-23-2009, 04:32 PM
If I had done my job well for AIG I'd keep the bonus.

and if i had done my job well for aig we probably wouldnt need millions in bailout money to stay in business

mlyonsd
03-23-2009, 04:40 PM
and if i had done my job well for aig we probably wouldnt need millions in bailout money to stay in business

Actually it was billions, but if you're saying all AIG employees with bonuses based on contracts that were subsequently agreed to be paid out with congressional approval should fall on their sword even if they performed well I'd disagree.

BucEyedPea
03-23-2009, 04:42 PM
I like it. I applaud Cuomo for his efforts.

HonestChieffan
03-23-2009, 04:44 PM
I applaud Liddy. Cuomo is a grandstander.

wild1
03-23-2009, 05:34 PM
If I had done my job well for AIG I'd keep the bonus.

until Barney Frank puts your name in the newspaper and some unemployed nut from Local 42 shows up at your house to threaten your wife kids.

or the media camps out on your front lawn running interference for all this bailout BS...

blaise
03-24-2009, 08:55 AM
until Barney Frank puts your name in the newspaper and some unemployed nut from Local 42 shows up at your house to threaten your wife kids.

or the media camps out on your front lawn running interference for all this bailout BS...


Yeah, I think a lot of the noise coming from Washington was a bit inflammatory. I read this morning that Obama is trying to temper it.

FishingRod
03-24-2009, 11:53 AM
Has Barney Frank Returned any of the monies he was paid? On My list of POS people in the world he ranks pretty high.

jAZ
03-24-2009, 11:24 PM
Amen. And how is Cuomo taking credit for this. Liddy made that request.

It seems that Cuomo put the fear of God (or the public) in them.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032302162.html?hpid%3Dtopnews&sub=AR

American International Group's president, Edward M. Liddy, had asked that the unit's employees consider returning some, if not all, of the money. New York Attorney General Andrew M. Cuomo had subpoenaed AIG for a list of Financial Products employees and how much money each had received.

Now, the firm's chief operating officer, Gerry Pasciucco, had set a 5 p.m. Monday deadline for staffers to indicate whether they planned to return their retention payments, and if so, what percentage. His e-mail included what appeared to be a tacit ultimatum from Cuomo.

"We have received assurances from Attorney General Cuomo that no names will be released by his office before he completes a security review which is expected to take at least a week," Pasciucco wrote."To the extent that we meet certain participation targets, it is not expected that the names would be released at all."

Yesterday afternoon, 18 of the 25 most senior Financial Products executives had agreed to return their retention payments, amounting to more than $50 million thus far. Company officials expect more employees to follow suit.

"They are doing the right thing," Cuomo said on a conference call with reporters, adding that he now saw no need to reveal the names.