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Banking News : AIG Ask Employees to Return Bonus

American International Group chief exec asks employees to return at least 50% of their yearly bonus. AIG’s 2008 year end bonus request was for AIG employees who’s bonus was over $100,000. Keep in mind

Why would this information be on a banking blog you ask? Well a couple of reasons but mainly to give you confidence about the future of the economy and investment firms or regulation of. The first positive point coming out of this huge investment firms decision is the chief executive of the company, Edward Libby made this request. Edward was actually recently placed in AIG as CEO during the government rescue. So see, a little bit of your hard earned trillions of dollars bailout is coming back.

In the same news vein, you will see there is discussions around who in the government knew about the multimillion dollar AIG bonuses and who did not and when they knew about the bonuses and when they did not. Big names like Federal Reserve Chairman Ben Bernanke and Treasury Secretary Tim Geithner are basically being held accountable to oversee these ridiculously huge financial institutions like a hawk.

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3 Responses to “Banking News : AIG Ask Employees to Return Bonus”

  1. I think it’s time to move beyond trying to make sure they don’t do wrong with the money and actually start INVESTIGATING them for their crimes.

    I don’t understand how you can pay a retention bonus, or any kind of bonus for that matter, to a group of people who single-handedly took advantage of every loophole allowed to them to drive our economy right into the tank.

    Even now, when we’re teetering on the brink, these idiots are padding their own pockets and the pockets of the very people who got us into this.

    The banks take massive amounts of taxpayer bailout money and don’t put a dime of it back into the economy in the form of new lines of credit or extensions to existing lines, they are, to this day, sitting on the money or using it to expand THEIR empires.

    These people are criminals and should be treated as such. Take them out back and check their prostates with a cattle-prod. It’s just as painful as what they’ve done to us.

  2. MrTim453 says:

    Wow, prostate and cattle-prods can’t be good together. I think that route may be a little harsh and what is done is done. The government or ole Mr. Greenspan trusted a little to much in humanity and let a few to many financial laws and regulations to relaxed. Huge corporate greed just did not know what to do with themselves and here we are. The nations financial stability can not be dependent on a few ridiculously large financial institutions.

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