Quote:
Originally Posted by StuartD
I think the bonuses are just contractual bonuses. We, average people, think of bonuses as a reward for a job well done, but at the CEO level of those companies, that's not how they think of them. To them it's just another way of receiving a portion of their pay.
Obama's team is looking into how they can block or recoup that money but I don't think they can. It's in their contracts, they are legally entitled to it.
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New York Attorney General Andrew Cuomo says his office will investigate whether recipients of the payments were involved in the insurance giant's decline and whether the payments are fraudulent under state law.
http://www.cbsnews.com/stories/2009/...n4868077.shtml
In a letter to CEO Edward Liddy, Cuomo said he's been investigating AIG compensation arrangements since last fall and would issue subpoenas at 4 p.m. EST Monday if he didn't get the names of employees scheduled for bonuses plus information about their work and contracts.