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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.
Congress may get its way after all: it looks like AIG (AIG) may pay back the $165 million it gave out in bonuses. According to Reuters, Treasury Secretary Timothy Geithner told Congress in a ...
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.
This was seen as a reference to the $165 million in bonuses paid out in March 2009 to employees of AIG's "financial products" division, which sold the credit derivatives that put AIG deeply in debt after the Lehman Brothers collapse and compelled the Federal Reserve to bail out AIG with an $85 billion loan six months earlier, that eventually ...
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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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Sullivan's severance package payments were withheld by AIG after the then Attorney General of New York, Andrew Cuomo, raised issues. [7] According to USA Today, "AIG CEO Martin Sullivan received $25.4 million in non severance related compensation between 2005 and 2007, including $322,000 for private use of corporate aircraft, $153,000 for car and parking, $160,000 for home security and $41,000 ...
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