AIG CEO asks employees to repay some bonus money

The head of the insurance giant American International Group has used testimony before a US House of Representatives sub-committee to defend his actions since taking the job back in September. Edward Liddy, who has come under fire for the payment of more than 160 million dollars in taxpayers’ money to top executives at AIG, said he would not have approved them had he been CEO when the contracts were signed. He also said he had asked some of those who received bonus payments of 100 thousand dollars or more to partially return them. AIG has drawn intense fire from the public and politicians in recent days for paying out the bonuses after the government was forced to step in with a 180-billion-dollar bailout.

2 Responses

  1. Interesting blog, I’ll try and spread the word.

  2. […] AIG CEO asks employees to repay some bonus money […]

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