Fifteen shamed AIG executives return bonus money

Three-quarters of the AIG top executives who got millions in bonuses despite the company needing billions from the US government to survive have agreed to pay the money back.

Fifteen of the 20 who got the most money made the decision following a storm of criticism and some arm-twisting from New York’s attorney general Andrew Cuomos.

He said in total AIG employees have agreed to return about US$50m (€36.9m) of the $165m (€121.9m) in bonuses awarded earlier this month by the troubled insurer.

Mr Cuomo said he still hoped that more AIG employees will return their bonuses. At most he said his office could hope to recoup $80m (€59.1m) of the bonuses – roughly the amount paid out to American employees.

He said he thanked employees who returned the money, adding: I think they are being responsive to the American people.“