This resignation letter in The New York Times today from an AIG executive in the financial products unit explaining the bonus controversy from his point of view probably will be flying around the blogosphere today. In the letter to AIG CEO Edward Liddy, the executive, Jake DeSantis, says it’s not More…
The AIG bonus scandal probably won’t lead to any forced return of those bonuses after all.
Instead, what emerged from the House Financial Services Committee hearing on AIG’s payment of $165 million in bonuses to executives was that there probably isn’t a legal way to avoid paying those bonuses now. More…
On day four of AIG bonus-gate, the message from Capitol Hill has emerged as clear as it is unanimous: The $165 million paid this week to executives of bailed-out American International Group is “appalling,” “outrageous” and “a breach of public trust.”
Yet as pitchfork populism continues More…
AIG CEO Edward Liddy said today that he’s asked AIG employees who received bonuses larger than $100,000 to give half the money back, and that some AIG employees have agreed to give the entire payment back. But Liddy refused to provide Congress with the names of who’s given back what, More…
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