March 24, 2009
Andrew Cuomo, NY Attorney General, says some of the AIG bonus recipients are willing to return the money. He sure sounds like his son.
CUOMO (phone call): So far 9 of the top 10 recipients have agreed to give the bonuses back. Of the top 20 recipients, 15 have agreed to return the bonuses. Those bonuses will be returned in full…I would like to say to the individuals who have given the money back, you have done the “right thing.” You’ve done what this country now needs and demands…It might be possible to recoup at the end of the process, approximately $80M, which is approximately half the amount received by Americans…
If a person returns the money, I don’t believe there’s a public interest in releasing their names.
Well that’s a subtle brand of blackmail: return the money and nobody knows you were a greedy, selfish pig. Don’t, and the nation will know exactly who you are. Bravo, Mr Cuomo.
FYI:What are the chances the top recipient is the one refusing to return the money?
- Top recipient received more than $6.4 million
- Top seven bonus recipients each received more than $4 million
- Top 10 bonus recipients received a combined $42 million
- 22 individuals received bonuses of $2 million or more, and combined, they received more than $72 million
- 73 individuals received bonuses of $1 million or more
- 11 individuals who received $1 million or more are no longer working at AIG, including one who received $4.6 million
Recall that these bonuses were pawned off as “retention bonuses” and yet 11 don’t even work there anymore. How many of them are returning the money? Those names should be top of the list, whether they returned the money or not.
IMG is asking 1200 of its employess to return bonuses. How much of the bailout money went to bonuses? And how much did Geithner, hence barry, know about it beforehand?
Every single person who received a bonus derived from the bailout should have their name listed somewhere and then every single one of them should have a simple background check to see if they have paid their taxes prior to receiving it. If not – the money should be have to be immediately surrendered + fines.
Hardball: timeline of bonuses
Tim Geithner’s AIG Timeline
AIG $165M bonuses after $170B bailout
AIG bonus breakdown
barry on AIG (video)
AIG: Edward Liddy (video)
Tim Geithner on Charlie Rose (video)
Andrew Cuomo: $30M of AIG bonuses will be returned
Andrew Cuomo’s letter to AIG (10-28-08)
Chris Dodd: 33% approval rating