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AIG Employees Give Bonuses Back

March 24, 2009

In what I think is a very smart move on their part, 15 of 20 AIG employees who received the highest bonuses have started to give their bonuses back, so far every single one in full.

The amount given back so far has been approximately $50 million — a small drop in the bucket compared to the total of last years bailout package, but for me, this one is purely principle.

It’s been said before, especially if you’re been reading and watching the news coverage on this, but really, AIG? The government gives you money to bailout your company and you reward yourself for failing? Nice. And while yes, they are giving the bonuses back, it’s a little disheartening that it took a lot of pressure from the government and threats of taxing them 100% of the total amount before they caved and returned the funds.

I realize that this is a baby step, and who knows how many others in the company received bonsuses as well (these figures are only for the top 20 highest paid out employees). But hopefully the rest of them will follow suit and give the money back. If for anything, it can be used for something else.

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8 Comments leave one →
  1. neverapartinheart permalink*
    March 24, 2009 1:26 pm

    That really makes the 5 people that didnt give them back look like total a-holes.

    And really – $50 million for 15 people! Wow… that seems crazy to me. Maybe its common in the financial industry, but yeah… wow.

  2. mom permalink
    March 25, 2009 2:10 am

    Thanks for the invite over here. I am impressed. I continually use you and your blog(s) to try and wake my students up and get them to open themselves up to the rest of the world. I am always amazed at how intelligent and articulate you are. But Birkenstocks….come on!!!!!!!!!

  3. The Army Wife permalink
    March 25, 2009 2:15 am

    Everyone, meet my mom 🙂

  4. LAW permalink
    March 25, 2009 2:24 am

    1,2,3…. HI MOM!!!!!!!!!!!!!

    LAW

  5. March 25, 2009 2:56 am

    HI MOM!
    Your daughter is pretty amazing… good work! 🙂

  6. March 25, 2009 5:04 am

    I love that your mom leaves comments!!
    Hi Mom!!

  7. neverapartinheart permalink*
    March 25, 2009 12:27 pm

    Hi mom! Very nice to meet you. I think its great that you show blogs in the classroom to get students to think outside the box. Awesome!

  8. mom permalink
    March 26, 2009 1:51 am

    Thanks ever so much for the warm welcome!!! I look forward to getting to know all of you 🙂

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