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The lobby of AIG's headquarters in the American International Building.. The AIG bonus payments controversy began in March 2009, when it was publicly disclosed that the American International Group (AIG) insurance corporation was going to pay approximately $218 million (~$301 million in 2023) [1] in bonus payments to employees of its financial services division.
Peter Foley/Bloomberg via Getty Images Bank executives have spent the years since the financial collapse defending their industry's fat bonuses against criticism. AIG CEO Robert Benmosche just ...
There has been a good deal of controversy over the original plan for AIG (AIG) to pay some of its "key" employees and managers $245 million in bonuses. The federal government, which owns 80 ...
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From the fall of 2008 through early 2009, the United States government spent nearly $170 billion to assist failing insurance giant American International Group. AIG then spent $165 million of this money to hand out executive "retention" bonuses to its top executives. Public outrage ensued over this perceived misuse of taxpayer dollars.
On March 11, 2009, Geithner called Ed Liddy, the AIG chief, to protest the bonus payouts and request that the contracting containing the bonuses be renegotiated. [ 70 ] [ 71 ] Later in March, Liddy requested that employees who received bonuses of more than $100,000 return half of the payment. [ 72 ]
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American International Group (AIG) is seeking more bonus money for its executives. You might remember AIG because as a taxpayer, you've given it $180 billion in your money to keep it from ...