AIG Breaks Promises to Return Bonuses
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When word spread earlier this year that American International Group had paid more than $165 million in retention bonuses at the division that had precipitated the company's downfall, outrage erupted, with employees getting death threats and President Obama urging that every legal avenue be pursued to block the payments. New York Attorney General Andrew Cuomo threatened to publicize the recipients' names, prompting executives at AIG Financial Products to hastily agree to return about $45 million in bonuses by the end of the year. But as the year 2009 came to a close, a majority of that money remained unpaid.
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