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July 10th, 2009
09:12 AM ET

There they go again!

AIG is set to pay bonuses next week that were promised last year, and the insurance giant is asking the government for its blessing.
The Bonuses paid to executives of companies that received bailout money such as Bank of America, Citgroup and AIG caused a firestorm earlier this year.
These latest bonuses are supposed to be contingent on certain targets related to AIG’s restructuring. Does that make it okay? Remember, it’s your tax dollars propping this company up.
Tell us what you think. Should the Obama administration give its blessing to this new round of AIG executive bonuses?

Filed under: Tony Harris
soundoff (194 Responses)
  1. Ryan Harris

    I think AIG needs to stop trying to give everyone bonuses in there own company. People else where need the money more than some exectutive ya know? So I think the Obama Admin needs to deny the blessing

    July 10, 2009 at 9:15 am |
  2. Larry

    This is pure BS!!!!!!!!!!!!!!!

    The can have their bonuses when they pay back the $180billion they owe us. They haven't paid back a dime.

    No, the administation shouldn't bless this.

    This company is completely irresponsible.

    July 10, 2009 at 9:18 am |
  3. John Murphy

    I think they claim this was deferred from 2008. Should that matter? In 2008 weren't they the bunch that lost all that money?

    July 10, 2009 at 9:19 am |
  4. michael armstrong sr.

    this is tipical behavior from one of these majoir companys that nailed our country to the wall they prance around like nothing happend while every body else suffers from the bad decisions my thoughts are they dont get any bonus until the money's are paid back and they all get pay reductions and fired .

    July 10, 2009 at 9:29 am |
  5. puggles

    A contract is a contract.

    The question is the terms of all these contracts and any clauses that allows them to be reopened prior to expiration of terms. Only Bankruptcy would allow wholesale voiding of said contracts. Otherwise AIG (and the US government) could be looking as many, many breach of contract suits and the attendant legal fees. That isnt going to help either side except the lawyers.

    And as so famously quoted from Henry VI, "The first thing we must do is kill all the lawyers," but doing so will indeed negate the effect of the contracts but also thrust us into a society much like Iraq about 2 years ago with the potential of developing into something akin to Iran.

    The Rule of Law does trump the Rule of Man. Recall that Law if the formation of Man's thoughts and thus is amendable.

    July 10, 2009 at 9:50 am |
  6. Robert Stagner

    Don't give those idiots a single dime!

    July 10, 2009 at 10:10 am |
  7. Ellie, MD

    AIG needs to be FIRED for the idiots they truly are. Pres. Obama needs to FIRED these clowns as soon as he gets back. ENOUGH is ENOUGH, they obviously don't know when to end their stupidity.

    July 10, 2009 at 10:27 am |
  8. MIT '13

    It was reported on CNN that these bonuses were tied to a contract made last year, before the bailout money was given to AIG. I don't see how it can be an issue for discussion at all if this is indeed the case.

    July 10, 2009 at 10:34 am |
  9. J

    AIG's request for bonuses should be answered by taking back all their bailout money loaned to them and total loss of elligability for future money.

    July 10, 2009 at 10:37 am |
  10. RusRus

    The time has come to bring balance back to earnings, between working people and greedy executives. It doesnt matter what they try to label it, executive pay is out of control, as the average worker can barely pay their bills and many are one paycheck away from being homeless.

    Anybody collecting a bonus from a company that benefited from bailouts should have their names and positions made public, since their bonus money came from public funds.

    If it is a retention bonus, they should be made to sign a contract that if they leave AIG within the next 10 years they have to repay the bonus with penalties. This includes getting fired since they can get themselves fired.

    I don't see anybody's job being that important that they get bonus from a virtually banrupt company.

    Perhaps a new tax system, which taxes incrimentally higher above the average wage, so when a CEO earns millions of dollars most of it is taxed.

    If everybody who makes under $100,000 a year went on strike for a week, lets see how much work would really get done. Jefferson warned us about corporations and previous generations didnt listen to his words of wisdom, and now we are all corporate slaves.

    July 10, 2009 at 10:42 am |
  11. Majesticruby

    WHAT!!!! I work very hard and if my company doesn't achieve profit over the previous year we do not get a bonus. Why am I suppose to pay the bonus for those who helped create this financial mess? I have a family of 8 that is just scraping by. Where is my bailout? My family could use a little help!!

    July 10, 2009 at 11:01 am |
  12. Charles Kopack

    NO BONUS untill they get their act together, and then only after they have paid the government back.

    July 10, 2009 at 11:10 am |
  13. Sylvia Smith

    AIG bonuses? Absolutely NOT. I do not want MY tax dollars going for their greed!

    July 10, 2009 at 11:16 am |
  14. Terry Gerber

    Just more of the same, corporate greed.!

    July 10, 2009 at 11:17 am |
  15. Jerry-South Carolina

    Re: AIG Bonuses.

    I always thought Bonuses were paid for a job "well done" not for breaking the company. What is AIG thinking?

    July 10, 2009 at 11:18 am |
  16. Mike

    Have these guys completely lost their collective minds?
    Bonus' for WHAT? Nearly destroying the economy? Oh wait, maybe for screwing the US tax payer out of all of their hard earned savings so that some very well compensated people to get even more of the pie so more people can lose what little they have left? If that's what we give bonus' for, the maybe we should give them even more bonus. Give me a break. I got a bonus for em all. New bonus..if you worked for AIG in 2008, you now owe your salary to the US tax payer, and YOU get to stand in a soup kitchen line.

    July 10, 2009 at 11:19 am |
  17. Mo Worley

    Bonus? ForGetAboutIt! I don't get paid for failure.

    July 10, 2009 at 11:19 am |
  18. Nia

    I do not know why people get bonuses failour? when we want to realize that bonouses are for good work and not bad service. Do we have to involve our next generation with our debt for the failour of our courent SEO's?
    Thank you.

    July 10, 2009 at 11:19 am |
  19. James Richmond Virginia

    If AIG gives more bonuses, I will vote against any incumbent in my districe in their next election.

    July 10, 2009 at 11:19 am |
  20. VIOLET Gilreath

    Are you kidding me? I am struggling to keep a head of my bills. Not able to take any time off because I can't afford to and those jokers are getting more of my hard earned tax dollars.

    What about me and others like me who do what we are suppose to do but are not getting any bail-out money.

    July 10, 2009 at 11:19 am |
  21. Ted from West Bloomfield, MI

    No big bonuses for AIG employees! Bottom line!

    July 10, 2009 at 11:19 am |
  22. cj

    No way!!!!

    July 10, 2009 at 11:20 am |
  23. robert steele

    I think it's outrageous that AIG execs should receive any bonus for helping to plunge this country and the world into the worst depression since the Great Depression.

    Millions out of work and the fat cats responsible want more money!!! How ridiculous. Better they should be fired!!!!


    July 10, 2009 at 11:20 am |
  24. Judy

    AIG – Pull their heads out of the sand. They should be grateful they still have jobs and their company still exists. They should not insult the rest of the country with expectation of bonuses

    July 10, 2009 at 11:20 am |
  25. anne

    They just don't get it. The jobless numbers are going up. Do they really believe that there are not capable, or even more capable, people who can take their places. Of the millions of unemployed, not all are blue collar workers.

    July 10, 2009 at 11:20 am |
  26. Margy Barr

    Actually I'm not as worried about AIG bonuses as I am about why the news isn't talking about Social security Administration going to a luxury resort in Phoenix. With the problems there, how come no one is talking about that? At least AIG is making money...SSA just takes it in and we're almost out of money.


    July 10, 2009 at 11:20 am |
  27. Rev. Kenneth W. Prill

    I was with AIG for 10 years, leaving them in 1980 as an Assistant Comptroller to go into the ordained ministry (Talk about a career change!). The total philosophy of AIG, then and now, can be summed up in three words: GREED, GREED, GREED!

    July 10, 2009 at 11:20 am |
  28. Craig

    Tell the executives no bonuses. If they don't like it, hit the pavement. Yeah, they will choose a job over unemployment.

    July 10, 2009 at 11:21 am |
  29. Jason

    AIG should have been allowed to go the way of all mismanaged companies. That our Congress agreed to bail them out never ceases to amaze me. Assuming we now all collectively own a sizable portion of this entity then we should have a voice in how it's compensation programs operate. But NO ONE outside of the management hierarchy should try to interfere with the operational decisions of the company.

    If we don't want them to get more bonuses, stop giving them unaccounted for funding to do so. Replace the management. But please do not let government try to operate the would be catastrophic.

    July 10, 2009 at 11:21 am |
  30. Jerry Barton, from the South Poconos in PA

    Tony H.
    Please tell the President and anyone else to STOP THIS!
    NO NO NO NO to the AIG Bonuses!
    Enough is Enough! Where are they going to go with 10% UNEMPLOYMENT Anyway?
    Jerry Barton, from the South Poconos in PA

    July 10, 2009 at 11:21 am |
  31. Oldschool

    All AIG contracts are null and void since we took over majority ownership of the company. Why would they still think after such a huge failure they still think they deserve huge bonuses?

    July 10, 2009 at 11:21 am |
  32. Tom

    No bonuses should be paid at all to any executive's at AIG. If they are going to pay any bonuses, it should go to all the hourly employee's of the comany. Executives already are salary paid and make enough.

    July 10, 2009 at 11:22 am |
  33. Richard Diener

    The word bonus is defined as a reward or incentive.

    I suppose that we can forget the bonus part because there should not
    be a reward for causing failure but then I suppose the bonuses are being paid as an incentive to do better in the future!

    July 10, 2009 at 11:22 am |
  34. Nia

    In this case, we have to give all criminals a big bonuss, to all the thives big bonuss, to all who make froud give bonuss, do we!!
    Can someone please explain to those who do not know what is the meaning of BONUSS and what is stand for??!!

    July 10, 2009 at 11:22 am |
  35. Peter Coloyan

    Bonuses for AIG execs? They may be tied to previous contracts, but are they oblivious to the fact that without our tax dollars they would not even be receiving a paycheck now? Previous contracts should have been thrown out and, in this economy, the bonuses should be part of the return to the government's coffers for our 79% investment.
    NO! No bonuses are deserved and if the argument is they need to pay bonuses to retain top talent – well, that top talent put them in this position – so, NO, NO and NO on bonuses!!!

    July 10, 2009 at 11:22 am |
  36. Carol

    I feel that if we, the taxpayers are financially bailing out companies like AIG, then we (the gov) needs to put controls on their CEO big buck payouts.... no, they should not be receiving these payouts. We're rewarding the people who haven't really helped the company be successful, and why should they be rewarded so greatly when we, the small guys, have to work our best, put out excellent products and just get paid like most everyone else?

    July 10, 2009 at 11:22 am |
  37. DAVE C.

    This is outrageous. It should not matter if these are contract agreements made before the Gov't takeover or not. The current owners(us) of AIG should say no and if they do it anyway then those responsible should be replaced.

    July 10, 2009 at 11:23 am |
  38. Tom

    The Obama admin does not need to give any sort of blessing for any bonuses. WAKE UP!! This is business. You need to pay people in order for them to innovate and put 110% into their jobs. If you don't pay them, they will lose motivation.

    Heres a piece of advice for the media: Stop spinning the story like AIG is an evil empire that must be destroyed. They are a business and must be aloud to run autonomously. If you don't let a business run itself, then guess who runs it? THE GOVERNMENT. When government runs businesses, what do we call that? COMMUNISM.

    I am avid supporter of President Obama and what he is doing is perfect. You need to be able to give your two cents as shareholders, BUT it should stop there. Set an overall direction of the company and then appoint a management team to implement. Every time the media cries about AIG paying bonuses (contractually obligated bonuses), it simply fuels the fire for the incredibly uneducated masses thinking they have some clue what they are talking about.

    Heres a piece of advice to EVERYONE: Shut the hell up and let AIG run itself.

    July 10, 2009 at 11:23 am |
  39. Sal

    About GM, You want me to buy a GM car, instead of giving money to GM, give me a Govt. voucher for $10,000 toward the purchase of a GM car and I'll go out and buy a car.

    July 10, 2009 at 11:25 am |
  40. John De Hoyos

    AIG is sucking the life of Americans, & will continue as long as we allow it. Reminds me of the Golden Days, Jesse James, Dalton Gang, AIG... May I say more.

    July 10, 2009 at 11:26 am |
  41. Mitch Dworkin - Dallas, Texas

    The answer to this question in my opinion is definitely "No!"

    Any contracts that were made before AIG took taxpayer bailout money should be null and void due to their taking that bailout money.

    The vast majority of the public will also back the Obama administration saying 'No" to AIG about those latest bonuses while they will probably face a lot of unnecessary public outrage if they give in and say 'Yes" to AIG!

    If AIG gets those bonuses, then I will on purpose never do business with them, with any of their affiliates, or with any of their sponsors. That is a firm promise which you can take to the bank!

    Mitch Dworkin – Dallas, Texas

    July 10, 2009 at 11:26 am |
  42. Andrew J Key III

    Tony, I can't believe the gull of these people from AIG to ask the governments ok to pay yet more millions in bonuses when what they should do with that money is pay back some of the $180 million to Uncle Sam so they in return can pay VA Benefits to those Veterans who had their disability pensions reduced or severed all together under the Bush Administration.

    July 10, 2009 at 11:26 am |
  43. Wold Archer

    Well that depends on how the contract was written and what why the bonuses was offered, for example, in sports a player is offered a salary with a bonus at the end of 5 years, it may not be specific as to whether they make it to the play-offs or not. If the team doesn’t make it to the play offs should they still pay the bonuses? So the government stepped in, does that make the prior contracts null and void? However as decent people who see the shape of both the economy and their company they should elect to forgo their bonuses. But that is just what I believe.

    July 10, 2009 at 11:28 am |
  44. Daniel Martin

    I believe a change in top executives is in order. Nothing is going to change until that happens. With so many millions of people unemployed in this country I think there wouldn't be a problem getting qualified people who would be happy just to have a job to run the company. It seems like all the top execs at AIG are worried about is how they're going to rip us off for their next bonus. It's disgusting.

    July 10, 2009 at 11:28 am |
  45. rich salerno

    Are you kidding me? Apparently in this country if you're rich and screw up at your job you get million dollar bonuses and your company gets taxpayer funded bailouts from the government. In the meantime hardworking Americans are losing their jobs at an alarming rate and homes of good people are being foreclosed. All while the rich (who claim to despise socialism) live off handouts paid by taxpayers. How anyone can still believe we're the greatest country on earth for opportunity is beyond me.

    July 10, 2009 at 11:29 am |
  46. kenny

    I would not give them a dime, I think AIG is trying to suck the life out of taxpayers. Let them come up with the money on their own, Amricans dont work to help major companies pay their bills. Who is going to help me pay my bills when im sitting in the dark ? I am fed up

    July 10, 2009 at 11:30 am |
  47. Andrew, Somerville, NJ

    No, absolutely no!!!!!

    All the executives, including those at AIG, cheated people with the subprime mortgages and subprime mortgage related securities. They ruined the financial institutions they managed. They destroyed the US, as well as the Global economy and now they want bonuses, for what? The only reason their financial institutions still exist is the huge infusion of the public money.

    What they disserved is that their wealth would be taken away from them, and the executives themselves should be sent to the unemployment lines together with millions of others who suffer because of their fraudulent actions.

    July 10, 2009 at 11:30 am |
  48. Darrell Walley

    If they can afford to give out bonuses, then they can afford to pay back the bailout money that they received. It doesn't seem to me that they are trying to restructure their company at all, but still wanting the government to bail them out everytime they get in trouble. Isn't that why they have financial advisors and pay them the big bucks?

    July 10, 2009 at 11:33 am |
  49. rich salerno

    I meant "How anyone can still believe we’re the greatest country on earth for opportunity, for the little guy, is beyond me". It's clear to me that opportunities are plenty if you're a massive corporation with the money to pay of our "leaders" in Washington D.C.

    July 10, 2009 at 11:35 am |
  50. Jeff R.

    Hard to be optimistic anymore. AIG wants big bonuses for execs who acted on greed, failed at their responsibility and ruined lives. Please, Mr. Obama, do the right thing. Instead, put them in front of a jury.

    Now, we learn that corpses and head stones are being dug up and thrown away, so criminals can re-sell the same plot again.

    America's greed extends from the smallest of businesses to the largest. Trust is gone. Americans fear buying anything from anybody. The Pope is correct, greed is killing the world. We are living the decline of civilization.

    July 10, 2009 at 11:39 am |


    July 10, 2009 at 11:40 am |
  52. Paul

    As long as we condone certain behavior are we not then guilty by association?

    July 10, 2009 at 11:40 am |
  53. Bev Evans

    WHAT? This is freakin' ridiculous!! I cannot BELIVE how bold and greedy these boys are......and have been. Let's just keep 'feeding' the corporate GIANT......then what?

    July 10, 2009 at 11:41 am |
  54. Talmage Shipman


    Yes the Administration should approve the bonuses to the AIG executives. It is a long standing practice that bonuses based on performance are an incentive to employees to work smarter and more efficently. Those that perform well raise to the top while those who do not move on.

    The bonuses are for people that are making AIG money. I know it is a foreign concept to those that make their money from the public but it should be encouraged.

    July 10, 2009 at 11:41 am |
  55. Karin

    No way, no how to these AIG bonuses. I know there would be a big knock-on effect if AIG went under, but still, these execs make enough already. I propose taking just one of their bonuses to set up a company that teaches overpaid fat cats how to live on less than a million a year...

    July 10, 2009 at 11:42 am |
  56. Nancy

    Tax (big) ALL drug commercials and magazine ads. Also anything they mail or email.

    July 10, 2009 at 11:42 am |
  57. FRANK

    We could pay for health insurance as A percentage of what we make.

    July 10, 2009 at 11:43 am |
  58. Lance Denney

    Bonuses? When they essentially declared bankruptcy? Why are ALL union contracts in similar environments DEMANDED to be made null and void and Financial Corporate Management contracts are etched in stone?

    We are now the largest shareholders of AIG. We could pull a Bush and just violate the law since we also run the Justice Department, but Obama has already made it VERY clear (in the Gays in the Military issue) that he will NOT violate the law... just because it's a good political move..

    We're talking about 100's of millions in bonuses and millions in legal fees. Congress is FULL of smart lawyers, lets get them to call a shareholder's meeting and VOTE the bonuses down for LACK of production leading to bankruptcy!

    July 10, 2009 at 11:44 am |
  59. Guntis Licis

    Having operated a Company for over 30 years with over 100 contracts / yr,, My conclusion on this issue is that all contracts have methods with which they can be changed. These absurd "Bonuses" do not have to be paid.

    Guntis Licis, Fort Myers, FL

    July 10, 2009 at 11:44 am |

    Why don't we, the people, who own the majority of the stocks of this company can't get rid of these bozos? Can someone in the government put this in their empty skulls that "If you don't perform you go bankrupt, If you go bankrupt you don't have money. If you don't have money there is no bonus. And, becasue YOU put the company in this situation to begin with as a result of your poor performance, YOU ARE OUT. Stand in line with the rest of us to collect your unemployment BONUS"
    Mr. Treasury Secretary, if you can't tell them, give me the power, I WILL TELL THEM.

    July 10, 2009 at 11:45 am |
  61. Nancy

    Just say no!

    July 10, 2009 at 11:45 am |
  62. Jim lee

    there shouldn't even be a thought of giving out bonuses until the money is repaid from the bailout. the Government would be setting something that will hurt the trust that we have in the government, which isn't very much. if this is how the government is going to use our tax money to make the rich, richer instead of getting this nation out of debt and on the right track then we as hard working Americans should do something. If AIG wants to give out bonuses then let them come out of the CEO's pocket not ours.

    July 10, 2009 at 11:46 am |

    not sure if my comment was transmitted or not , so here it is again;

    on 6-30-09 AIG had a meeting to vote in a "reverse" stock split of one share for 20 shares. I voted against it. I ended up with 110 share instead of 2200 shares.
    Today the stock has gone down to $9.85 a share. I have lost $4790.23. Before the stock split, it only went down and up about one to three cents a share most days. Just today it has gone down $3.25 a share as of 11:30 am ET. "I FEEL LIKE I HAVE BEEN CHEATED BIG TIME."

    July 10, 2009 at 11:49 am |
  64. Emil

    care in this country is only getting the insuance co rich and the large drug co. its not right that thay should profit from others misforturne. and the large corporations created most of the problems with fast foods and promoting things they knew were bad for people. its time to change things so the burden is no longer on the middle class and poor.ask your self this question who benifits from keeping health care the way it is.

    July 10, 2009 at 11:49 am |
  65. Bill G

    I wonder if part of the rising cost`s of Rx`s is the packaging ?. I just refilled mine for Atenolol and it looked like the package costs more than the Rx itself. Two big blue dispensers for what use to be one small bottle. What a waste of money not to mention it did not look very enviromentaly friendly

    July 10, 2009 at 11:50 am |
  66. blane leishman

    Just how long does it take for Bankers,Wall Street, and insurance moguls to understand the fact that it is not tax payers responsibilty to pay bonus to their executives. Them and Republican politics are the ones who got us into this devistating state to begin with! Please, its just another white collar scam. The answer to your question whether the President should alow this,what do you think???

    July 10, 2009 at 11:51 am |
  67. Han G Thesobs in Ca

    The very fact that they are asking for support means you can say it's a BAD idea and "NO". The NEW MAJORITY SHAREHOLDERS don't like this idea.

    Retain and motivate? Please! Let's retain and motivate the very people who STARTED this mess?

    Why the US BAILED out AIG? AIG insured their bad-loans packages that they SOLD to most of the MAJOR financial institutions throughout the world. They were going to default on that insurance- essentially bankrupting the world's financial instituions. Major upheaval everywhere, monetary destruction, meltdown...etc. That's where the first Bush bailout "dissapeared to, and why NO-ONE is supposed to talk about it.

    WE- bailed out the world! Obama is & will be getting LOTS of world concessions BECAUSE we bailed out the world!

    July 10, 2009 at 11:53 am |
  68. FRANK

    You know the major players.

    July 10, 2009 at 11:53 am |
  69. Moon


    Like salesman, sometimes commissions are earned. Although I resent the government taking my money and giving it to the rich (!) I do not blame the executives for it. I blame Obama.

    To put it into perspective try looking at it like this...

    These men and women took a job with a base salary and a bonus structure. If the other executives in their field are just making the base salary then no they should not get their bonus's.
    But if these bonus's were tied in with their salaries.. then YES they should get their bonus's. It is not fair to change the rules after the fact on them. And this will wreck havoc on the job climate. Maybe the answer is base salaries only..?
    It is not their 9individually) fault ( or is it..?) that the government had to bail them out.. Why should they loose out?
    It is not the executives we should be upset with but the Government.

    Mr Obama:
    Stop throwing good money into bad business's. We can not afford it! My children can't afford it.. and now I am worried about my grandchildren. This is ridiculous. This is not The America I know.. sad.. just sad...

    July 10, 2009 at 11:59 am |
  70. maribeth Solverson

    It breaks my heart to see a Marc's tears as a result of acts of discrimination perpatrated against him and his friends by the Swim Club. The change in the club's "complextion" is definitely needed! Thier denials should fall on deaf ears...unlike the children whose hearts they broke with their racist policy.

    July 10, 2009 at 12:00 pm |
  71. Marion Nelson

    So, AIG feels it would be okay to send out these bonuses? I don't. Supposedly these bonuses are to retain "top talent" for their corporation, good idea in "theory" but it just doesn't "hold water" in practice. If their "top talent" is representative of the problems that AIG was/is in then give them the Queen's reaction [from Alice in Wonderland where most of them must live to think anyone will endorse this] "OFF WITH THEIR HEADS!". Until such time as AIG is liquid enough to buy/pay back their company, I do not feel that anyone in the company should earn more than what is currently being paid in lesser companies minus any bonuses offered there. If they should decide to go__LET THEM! From what I can see it would be no great loss. Whoever does manage to bring the company back from oblivion will be able to "write his own check" in any industry that he/she applies to that will be his/her "bonus".

    July 10, 2009 at 12:03 pm |

    on 6-30-09 AIG had a "reverse" stock split of one for twenty shares.


    July 10, 2009 at 12:06 pm |
  73. Andrew

    The only word I can think of to sum up what I think of AIG is "insensitive"...OK, three more words, "Out of touch."

    July 10, 2009 at 12:13 pm |
  74. robert rankin

    Hey Tony,

    Remember that movie Deliverance? Well, we are Ned Beatie and AIG is the hillbilly!

    July 10, 2009 at 12:13 pm |
  75. RusRus

    Lets grab our sticks and stones and start marching to the biggest corporate headquarters,( just like people are doing in Iran), and see if they act like the pleople they deplore in Iran.

    Corporate compensation limits must be brought in, until the working people's wages rise to a reasonable proportion of executive compensation.

    I don't deny anybody the right to make high wages, as long as everybody working with them is compensated proportionally.

    If the CEO makes one million dollars a year, the lowest pay for the position with the least responsibility should make $50,000 a year.

    It is time to revolt until executive compensation comes back down to a reasonable proportion of the pay for people who ACTUALLY DO THE WORK.

    July 10, 2009 at 12:14 pm |
  76. Phil

    Although it certainly puts a bad taste in Americans' mouths, you have to respect the fact that contracts were signed and they must be honored.

    July 10, 2009 at 12:14 pm |
  77. Ron Mitchell

    Put aside that AIG shouldn't be paying bonouses until such time they've repaid the Bail Out Moneis...but it sad that AIG Executives are getting a bonous based upon the performance of their employees, the little people that worked under them!
    Shame on AIG once again.
    Ron Mitchell
    Phoenix, AZ

    July 10, 2009 at 12:14 pm |
  78. Vera Dennen

    What I would say about this could not be repeated on air. . .

    July 10, 2009 at 12:14 pm |
  79. Ian

    Public pressure should be brought to bear. If it is "legal" I think it would be difficult for the government to take a position which is really a moral one rather than a legal one.

    July 10, 2009 at 12:15 pm |
  80. Luis G Colon

    Absolutely not!!!!!! The nerve of this people!. It is outrageous that they would even present such request.

    July 10, 2009 at 12:15 pm |
  81. vince polk

    it just goes back to the point, the rich get richer and the poor get poorer. If you can get away with it while rich,good for you but when poor it's a scam and maybe jail time. I just ask why can't they just invest the money in needed schools that are losing money cuz of them.

    July 10, 2009 at 12:15 pm |
  82. Diana

    Do these people have no shame? No sense of patriotic responsibility? What a bunch of selfish, cancerous, beings...

    July 10, 2009 at 12:15 pm |
  83. Teenager with minimal common sense

    Please I'm 15 and I know what they're doing is obviously going to anger the public. AIG MUST be doing this because they're reputation is already trashed and they don't really care to preserve it anymore. If I know that this angers the public... the 90 year old CEOs of AIG know this too. AIG bonuses? They're a joke. AIG for the lose.

    July 10, 2009 at 12:15 pm |
  84. true simpson


    July 10, 2009 at 12:15 pm |
  85. Ray

    Retention bonuses? Are you kidding? Under no circumstances should these be paid to these folks who make obscene salaries anyway. These folks are lucky to have jobs during this period of high unemployment. Are they really going to leave if they don't get their bonus? To join the ranks of the unemployed? I doubt it.

    It makes NO difference that these are from contracts prior to them receiving bailout funds. Remember that it is the failed policies of this company PRIOR to receiving bailout funds that caused it to be in financial distress in the first place.

    July 10, 2009 at 12:15 pm |
  86. Dave

    Let AIG pay the bonuses with pre-stimulus money. And then fire the morons who keep wanting more bonuses.

    July 10, 2009 at 12:16 pm |
  87. gpmal

    If AIG is making enough money for bonuses, why don't they pay us tax payers back first then divie up what is left.

    July 10, 2009 at 12:16 pm |
  88. Clint L

    Politics as usual! AIG knows the government can't stop the bonuses in these contracts! Either they are thumbing their nose at government, or trying to get a "scapegoat" excuse not to give the bonuses in these contracts! Retaining workers that drove your company in the ground for their own greed doesn't sound like good business to me!

    July 10, 2009 at 12:16 pm |
  89. Dick

    Why should the AIG people feel any worse than postal workers or government employees who are getting bonuses. Why pick on AIG not the people ripping off the government on the stimulus plan?

    July 10, 2009 at 12:16 pm |
  90. pursuit of Happiness Yoga

    An Open Letter to President Obama re: the Bonuses that AIG is requesting an ok from the administration to pay!

    Dear Mr. President,

    With all due respect if u or anyone in your administration authorizes the current pending AIG bonuses then you and your authenticity are done in my opinion....

    You have been unable to help main street jobs yet the companies that we bailed out at your guidance still live a life of bonuses and luxury. The banks and credit card companies continue to take unfair advantage of their customers... the health care companies and insurance companies continue to slam their customers and all the while unemployment goes up...

    We are in a serious situation of taxation without any compassionate representation... Our representative seem to have this air of aristocracy in their arrogance!

    How long do u feel the people who supported u will be ok with bleeding from their arteries while our representatives and the companies that lobby them are at a big party of spending our money...

    Don't be confused about our patience, opinions and support can change on a dime think 18th century France! Maybe it is time to read a little more Thomas Jefferson... he knew what he observed with all his heart and mind...

    I wish u the best... don't screw this up. we put our faith in your sense of fairness!

    In Light Love & Peace
    Arthur Klein

    July 10, 2009 at 12:16 pm |
  91. FRANK

    You know the ones setting up shop in the Cayman Islands.

    July 10, 2009 at 12:16 pm |
  92. Dolores Middleton

    In reference to the Huntingdon Valley Swim Club. I am a new resident again of Philadelphia. I moved out of the city for four years to have my daughter educated in a better learning environment as the Philadelphia public school system leaves a lot to be desired. However, being a white woman going to a more financially sound area I found discrimination all around me. Even with myself and my daughter and I am white. If you think that what this Huntingon Valley Swim Club is saying is true, I have a bridge to sell you right in Philadelphia. (Nice View). I know this caliber of people and they will criticize and ignore you to your face. This was total discrimination. Ofcourse, they had to cancel other memberships that they offered. They had to cover their lily white butts. These people are slick!! I am tired of dealing with this type of personality it is out there all over the country. Disgusting!! And yes, this is 2009. But lets not forget these people are better than us! So they think.

    July 10, 2009 at 12:16 pm |
  93. Di Rey

    This is so ridiculous.
    Many people are losing their houses in foreclosure
    & losing their jobs & these people at AIG are partying
    with their bonuses.
    I canniot believe this is happening in United States of

    Also, the report on the sales were very low because
    I think Michelle Obama & her family & staffs have been
    shopping abroad in Europe.
    That does not help the economy of the US, do you think so?

    July 10, 2009 at 12:17 pm |
  94. Mark


    July 10, 2009 at 12:17 pm |
  95. Gene Mroz

    While the citizens of our great nation are without long term jobs, depressed wages and higher costs for there basic needs I feel the politicians need to answer for this not AIG. When a politician needs 650 pages of text to create more taxes on all of us they might have thought abought a 1 page document that made all contracts void when our government aquired 79% of AIG.Term limits are needed.

    July 10, 2009 at 12:17 pm |
  96. frank Epright

    aig how stupid are we I guess were really that dumb to allow them to give bonuses with tax payer money. fire all the top exs.

    July 10, 2009 at 12:17 pm |
  97. Dr. Ken

    This is just further proof that upper management must be ousted from the company. How, in good conscience, can management offer performance bonuses to anyone given the poor performance of the company? This notion of "promised" bonuses is bogus – common sense, which is so obviously lacking with the company's management, dictates that if the company does well, bonuses should be paid to those who contributed to the company's success, and if the company does poorly, those same individuals should share in the pain of poor performance. Period.

    July 10, 2009 at 12:18 pm |
  98. rick

    these are the same type of people who make fun of people on wellfare and foodstamps....
    they are the type who consider themselves smart yet they have no problem picking up government checks.

    the same money can feed so many poor people and those who need it most. if these guys are paid the money, it is a clear indication that goverment is for the rich and not people.

    our goverement is paid for by pharma, Insurance, banks, wall street who have managed to screw people for years and they are not willing to let go ...... why doesnt AIG pay for the bonuses out of their ow assets.

    July 10, 2009 at 12:18 pm |
  99. Genevieve Figueroa

    It is a shame that this companies will recieve a bonus. Because of actions like this one our country is going through this harsh time. The Obama administration should not give any blessings to these money thirsty suits!!

    July 10, 2009 at 12:19 pm |
  100. Steve in Ohio

    I have no problem with the way AIG is spending taxpayer dollars because our Democratic Congress, Senate decided to get that money out without reading the bill and requiring concessions. AIG is following the law. Quit complaining at AIG and start complaining about our Democratic majority that got us here! The law is the law, and we've got Democrats making them.

    I'm NOT a Republican!


    July 10, 2009 at 12:19 pm |
  101. JERenolds

    Even though the economy is not in the best of health, AIG should still follow through with its commitments if it has the money to do so regardless if its the taxpayers footing the bill. We approved it, so be it. The workers were promised it, so they should receive it.

    July 10, 2009 at 12:19 pm |
  102. Egberto Willies

    AIG and all our corporations will continue gouge themselves on high bonuses and salaries irrespective of who is keeping them afloat mostly because Americans have become so apathetic that they believe they have no influence in stopping corporate leaders from their behavior. It is interesting that this same mentality is what kept communist countries afloat for so many decades till the population despair got to the point that all hell broke loose. While politicians in the US somehow believe we won the cold war, the truth is the communism's failure lost the cold war. We should beware as we are on a path that eventually when a large enough percentage of the population feels they have nothing to lose, they will revolt, even in our stable USA.

    July 10, 2009 at 12:19 pm |
  103. Scott Brady

    Our economy is one birthed upon free enterprise. Like it or not, this structure once positioned the U.S. with significant prowess in the global economy. Though it was arguably important to issue tax funds to AIG, it is my opinion that we cannot be surprised that these funds are being appropriated pursuant to contracts that were drafted before the bailout. Is it in the company's best interest to utilize the funds for employee bonuses? Perhaps not. But is it within their freedom to do such? Yes.

    July 10, 2009 at 12:19 pm |
  104. Nanda

    AIG should stop giving bonuses to the employees. There are people in the country without jobs. This money can be used for job creation .

    July 10, 2009 at 12:20 pm |
  105. Spencer

    If only the rich could control everything! I suppose it is only human nature to believe that it is OK to want what others have, even if it is there last coin. There is a class war coming. This will happen as soon as the police stop getting paid. Then the rich will have to act a million times poorer than they actually are. Maybe they can drive AMC gremlins with darkened windows. The could wear designer shabby clothing, and special manufactured 3M schmutz. There could be a market for garbage scented perfume.

    July 10, 2009 at 12:20 pm |
  106. Suzie


    Only because of the recent events involving AIG is why anyone knows what they are doing. They have accountants, financial advisors and all sorts of legal teams to assist them to ensure they are run properly. But expecting your average taxpayer's money to support these multi-billion dollar companies because of thier failure to do their jobs appropriately is simply dumb. The only reason why they want the gov to bless off on this recent bonus handout is so that nobody can later say that they didn't get "permission from Uncle Sam" to do it!

    Suzie in San Antonio, TX

    July 10, 2009 at 12:21 pm |
  107. ray

    hi,tony,well tony its the american Way right,steal right in front of the people,and tell world your broke,then take, take,take..that what we show the world.come to america and steal money from the people look at the social surity sytem we have.thanks ray

    July 10, 2009 at 12:22 pm |
  108. Larry Reed

    Wanda Reed, Yuma Az
    No bonus, A bonus is for a job well done . Meaning above and behond the ask for work . We all know that the job was not done much less well done .
    Be happy with your wages and thank God your not in a unemploymen line.

    July 10, 2009 at 12:22 pm |
  109. JudiB

    Feels like the rich get richer, the poor get poorer (on the BACKS of the richer!)

    AIG has made HUGE, EXTREMELY HIGH RISK decisions that helped to put our financial security (and that of millions of others around the world) on the brink of financial ruin. I think they should place a FREEZE on all bonuses. At such point in time when AIG is solvent (and the American taxpayer is NO LONGER KEEPING IT AFLOAT), they would be more than welcome to pay out whatever bonuses they want.

    These big guys just still DON'T GET IT!!! Most of us are struggling to find jobs (or keep the ones we have if we're lucky enough to have one!!!), and they have the AUDACITY to think we should be subsidizing their bonuses (if they didn't have our tax dollars, THEY WOULDN'T HAVE A JOB...LET ALONE A BONUS!)


    July 10, 2009 at 12:23 pm |
  110. J.D. Bedsole

    What do I think about AIG giving humongous bonuses to its top "Executives" ?. Obviously, AIG has not learned a thing, and if I were President Obama, I would kick some butt and take some names before another dime of taxpayers money is poured down that rat hole. I cannot believe the gall of the Executive Board at AIG. What has "We promised it to them last year" got to do with it, may I ask? Has anyone at all at AIG noticed that this is another totally different scenario from last lear. The whole idea that they are now wanting to reward everyone there who bankrupted them and the big question is;
    Instead of rewarding them (again), why are they even still working there ? Why have'nt they been fired, and please, I don't want to hear how valuable they are to AIG. We have all seen their high skill levels in action. They should be glad they don't work for me, or they would have joined the ranks of the unemployed a long time ago. I cannot think of a bigger waste of taxpayer money.

    July 10, 2009 at 12:23 pm |

    Alleged bonuses were a contract with AIG and its employees, to be paid from profits. AIG is now proposing to pay bonuses with tax payer money. Tax payers were not a party to any contract and have no obligation whatsoever.

    If Obama Admin. agrees to pay these bonuses, then we should impeach him because he is just as corrupt as Bush-Cheny: No change whatsoever. I voted for him with the expection of substantial change, if not, then oust him.

    July 10, 2009 at 12:24 pm |
  112. Tracy Johnson

    I think that you and others are asking the wrong question. The issue has not change; these workers are the ones that ran AIG into bankructy. The question should be, "Why should workers be rewarded for performing badly, so badly that the company needed to give up 61% of inself to the public?"

    July 10, 2009 at 12:24 pm |
  113. Bruce Mallory

    What is wrong with our government? How can they allow the very executives who caused the problems to pay themselves bonuses! I don't care when the bonus contract was signed – you don't pay for making decisions that cause the company to fail. I'm a retired CEO and if I had tried to do this my board would have strung me up on the nearest tree. These people and their board of directors should be prosecuted and put in jail with Madoff and the others.

    July 10, 2009 at 12:25 pm |
  114. Diana M

    Wow, here we go again. I feel that those people should stop and think about the people out there that do not have jobs and homes anymore. These people getting these bonuses are still living like nothing has happened it's time they think of the little people!!!!!

    Stop helping the ones who have money and make things easier for the rest of us.. I am 44 yrs old and can't even get a job at a fast food place..... Help us not them

    July 10, 2009 at 12:25 pm |
  115. Keith

    Certainly. A contract is a contract, and it's not like these people are GM bond holders.

    July 10, 2009 at 12:25 pm |
  116. A.Z Bekele

    AIG is not the center of the U.S economy and why the government gave so much bailout to a company with a bunch of spineless pricks in thousand dollar suits is beyond me, but life has its own way of bringing things in full circle.

    July 10, 2009 at 12:26 pm |
  117. Ken

    Where can I get a job at one of these companies that give out bonuses for "NOT" performing.

    I really don't believeit! They want to hand out bonuses and raises using the taxpayers money?

    Because of these banks, I've been out of work for seven months now. I have only unemployment insurance to pay my mortgage, HOA fees, car insurance, and other bills. It is not nearly enough.

    These theives have been sucking my bank account dry. Yesterday I caught Bank of America charging my checking account 5 times in a row for overdraft charges at $35.00 a pop. I called, and they admitted it was a mistake, but only wanted to payback 3 of the charges. USA Today just put out a front page story yesterday about this unsavory practice.

    I'm only months from having a lien put on my condo because I am struggling to keep up with the HOA fees, at the same time, I am falling into my 3rd month behind on my mortgage. The banks don't care. And nether does the GOP. They will not be happy until they have sucked every penny out of their customers.

    How about these banks provide credit back out to the companies that want to hire instead of giving them out as bonuses to their executives for bleeding people like me dry..

    July 10, 2009 at 12:26 pm |
  118. Sinya Sam

    Give me a break. If the unions at the car companies can renegotiate sanctioned contracts, then so can AIG. If the workers in California can be fourloughed and their salaries cut, then so can AIG. If workers around this country can take pay cuts, or lose their jobs because of this recession partially caused by AIG, then so can AIG. I don't give a fig if these employees quit, someone else will step up. LET THEM QUIT. AIG is not a mensa think tank, they can be replaced. Stay those bonuses, extra salary, atta boy cash payouts,...whatever the hell ya wanna call it, until AIG pays me back. That is all.

    July 10, 2009 at 12:27 pm |
  119. Dave

    Regarding performance bonuses, I wouldn't give AIG the time of day....Contract or no contract, the current extreme economic situation calls for unique, extreme management; management behavior that shepards the taxpayer's money, which has allowed it to stay in busnesss. NOW, having said that, some salaries in the financial arena are also referred to as bonuses. Salaries for day-to-day, week-to-week performance rendered should be paid. Employees pay their bills and raise their families with these funds. If AIG does seek the government's approval, the government needs to parse this difference and make an educated decision.

    July 10, 2009 at 12:27 pm |
  120. T. Harris

    When I worked the corporate juggernaut bonuses were derived from profit. Profit was derived from good management. Good management meant a company not holding out their hands for help. I guess things have changed. And this is why I got a government job.

    July 10, 2009 at 12:27 pm |
  121. Jaycie

    Executive bonuses in this country are obscene and MUST be controlled. I heard Robert Reich say that in 1980, the top 1% of earners received 9% of the total income in this country. Today, that top 1% received a whopping 21% of the income. We are driving our once vast middle class into poverty and this cannot continue if we are to have a viable economy. In no other industrialized country are executive bonuses approaching the level that we have in this country. Whatever happened to income's relation to productivity? Especially when these very same vastly overpaid executives are the very ones who have created the disaaster that is our economy today. Perhaps doing hard time in the big house would have a sobering effect and rein in these arrogant executives who have driven our economy into the ground. In publicly held companies, the shareholders need to hold these guys accountable and to put a lid on their compensation.

    July 10, 2009 at 12:28 pm |
  122. michael flowers

    "First of all, we must face the truth, and then we can change our course. We simply must have faith in each other, faith in our ability to govern ourselves, and faith in the future of this Nation. Restoring that faith and that confidence to America is now the most important task we face. It is a true challenge of this generation of Americans. " J.C.

    The quote above from our former President rings true today. This group of people (AIG decision makers) operate under the premise of self-interest and greed. It is a shame that the "good samaritan" efforts of our country and it's taxpayer's are not being received with morale and ethical terms. The fact that "we the people" continue to watch this tragedy take place is the truth. We have put our faith in one another and the example that AIG sets is the worst type of humanity and a pathetic grasp to materialism and greed. They represent the lowest level of ethical decision making I have seen in my entire lifetime.


    July 10, 2009 at 12:28 pm |
  123. Dwayne, Elam

    LOL!!!! In the real world, bonuses are tied to performance & the bottom line. They just don't get it. What about the little people? Are they getting bonuses also? I think they should ask each person eligible for a bonus, are you worthy of a bonus?

    July 10, 2009 at 12:28 pm |
  124. chris

    The bonus again to company that cannot stand on its own is egregious. A bonus is for job well done, they were not doing a good job to get a bonus. The contractual obligation on which they stand is shaky. If the company folded would the contract apply, no. The taxpayer sacrifices for this company while the employees do not.

    July 10, 2009 at 12:29 pm |
  125. Charlotte Moncrief

    Have these people lost their minds? I have a solution; give the job of CFO to some middle aged mother that raised her children on two jobs. I would love to see them get past her on their way to the cookie jar; she'd either laugh in their face or beat them silly. Oh; sorry they are already silly to think this will fly.

    Contracts? too bad! that was the old AIG, you know, the one that actually made money. If you want it, sue for it. But understand that you WILL spend that much, and more, recouping from the gov't and probably will be too old to spend it by the time you do.

    Bonuses? Everyone involved in the management of this company should have been fired and prosecuted just like what happened with Richard Scrushy and HealthSouth. This is corporate THEFT against the entire world. The sooner people realize they have been robbed by these executives, the sooner things can be cleared up and get back on track. Purchasing worthless "assets" is counter-productive to profit and those responsible should be brought to light, and their finances carefully examined, for either being the worst business people to ever hold a job or for the kick backs they received to do so.

    I want more prosecutions and more seizures of assets NOT bonuses.

    July 10, 2009 at 12:30 pm |
  126. Sonia Herron

    NO!! NO!! NO!! Not AIG again, again and again!!!
    They have not waken up with the HUGE PROBLEMS THEY CAUSED the Americans and the WORLD???? How can we allow them to live in a high life while others are in the unemployment long lines??? And some of Americans have to loose their homes????
    Our FED and the government CANNOT AND SHOULD NOT allow this to go on!!! AIG needs to fix their problems first and shape up first to help this country. NO MORE TAX DOLLARS for their recreation and high lives!!! Are we making ourselves "stupid" by these jerks??? (Have a look on Dylan's Morning Meeting Friday morning, today explaining very well about the problems AIG caused – very educational. Have a read on the Vanity Fair this subscription – August 2009, about AIG "The Man Who Crushed The World": .....You can't fix the problem – the financial situation – unless you understand why it broke, and it's much more interesting than just "There were some crooks involved" by Michael Lewis.)
    It is the Government/Fed has to look into the problems and regulate and monitor AIG, and AIG needs to evaluate and repair the problems FIRST (highest priority) they created and caused the American and the world economy melt down.
    Tony, you are welcome to share my input to any of the CNN or MSNBC news team!!!

    A citizen who concerns so much about Americans and the world,

    July 10, 2009 at 12:30 pm |
  127. A.Z Bekele

    the problem is though I am sure if AIG starts going down the drain, those idiots over there will have the nerve to ask for bailout money. I hope the obama administration have learned their lesson. after all 'fool me once shame on you, fool me twice and shame on me"

    July 10, 2009 at 12:31 pm |
  128. Scott Roubal Reno NV

    Tony, Lets be serious, if they don't get those bonuses they might be forced to eat at Wendy's or KY fried. This would throw their metabolism off so much they would be off sick for months, and they would just stay home and collect sick pay. So i think they should get their money. Then at least they could go to the office.

    July 10, 2009 at 12:32 pm |
  129. Andrew Burns

    The last set of bonuses had to be payed because of their old contract
    Who signs a contract that pays bonuses for bankrupting a company
    But they are white collar workers exec's. But the UAW had to renegotiate thier old contract .But AIG didn't re-negotiate. .How in good concience do you take a bonus after you run a company in to the ground to the tune of $700,000.000 below even .This kind of action caused tea to go in the harbor 235 years ago.

    July 10, 2009 at 12:34 pm |
  130. Wesley

    This is why I have a problem with the way the government is supposedly trying to go about fixing the economic mess. The taxpayers want to see results, proof that this stimulus package is actually going to improve their individual situations. Instead, the only things that are being stimulated are the wallets of the AIG executives. Why do I have to sit and wait patiently? Why can't I see instant results, like they have?

    July 10, 2009 at 12:35 pm |
  131. Harvey Feinstein

    RE: Valley Club discrimination. At 12 noon on Friday July 10 I saw a rerun of the news regarding Valley Club. I saw the same interview last night where the commentator said a local Jewish organization invited the children to use their pool after hearing about the incident. That was missing from this mornings re-run. Is this an example of CNN discrimination?

    July 10, 2009 at 12:35 pm |
  132. Lucy, Austin, Texas

    How can they possibly justify millions of dollars in "bonuses" from money that the company was given by the government to prevent its failure. If the company went under, than they would be in bankruptcy court and certainly wouldn't be passing out bonuses. I hope that everyone one of the 6.5 million people (applying or getting unemployment) who have lost their jobs set up a day to picket every AIG office in the USA. The jobless need to speak up loud and clear.

    Everyone who has lost their jobs know the real value of money and they should become a political active group that should speak from the working reality of what the corporations fat cats have caused millions of Americans. I can't believe that a corporation even thinks that they can sanction this action. Where in a corporation's missions does it say that we will reward absolute and total failure? I don't care if it was just one part of the business that brought about the failure. AIG's failure was like a house of cards that impact our whole economy and their whole corporation. Millions of Americans are losing their jobs. Everyone had to pay for their AIG's mistakes and their managers should be very grateful that they still have a job.

    July 10, 2009 at 12:39 pm |
  133. Tony

    My believe is that if all those executive would quit getting all those bonuses and apply those monies to the economy, our problems would be solved. What is the government doing about it, NOTHING.

    July 10, 2009 at 12:41 pm |
  134. Maggie

    Greed and ignorance are the two greatest sins and greed feeds off ignorance. There is something unAmerican when bonuses to loser executives take precedence over the wishes of the chumps that made those obcene bonuses possible.

    July 10, 2009 at 12:42 pm |
  135. B. Anthony

    I have a life insurance policy with AIG. My premiums are $694 a year and the last time I paid it AIG did not send me a receipt. I called and asked why; they said they did not send receipts to policy holders due to the high price of stamps.

    AIG has to realize that the tone set by the Bush administration of unbridled greed is coming to an end. The "by the rich, for the rich" mentality doesn't work anymore.

    Quote of the Day: "I'm not like other people. Pain hurts me". – Daffy Duck

    July 10, 2009 at 12:42 pm |
  136. Quentin, New York

    Not happy about it, but they do have contracts. It would be cheaper to pay them the bonuses then it would cost to litigate. Pay them according to their contracts. Why weren't these contracts renegotiated should be the question.

    July 10, 2009 at 12:43 pm |
  137. micwin05

    I wonder how much your base salary must be if your "bonus" pay is: $2.4 million dollars! (its been my experience, base salary is significantly higher)...
    I wonder how much cheaper would home/car/health insurance be if AIG executives were not paid these enormus base salary and bonus amounts....
    I wonder what it be like to live in world where common sense and fairness could be executed by corporate CEOs and government officials...

    July 10, 2009 at 12:43 pm |
  138. Doc Smith

    Can someone say, "Greed to the Second Power"! These Execs still have not learned that greed is not the answer.

    July 10, 2009 at 12:44 pm |
  139. Cooper

    Im not surprised. Our greed driven govt gave OUR money to a greed driven financial institution that in no way cares about us, good job.

    July 10, 2009 at 12:47 pm |
  140. Patty, Austin, TX

    Bonuses are supposedly paid out only when a company does well. AIG did the complete opposite of well. They were on the verge of bankruptcy. Um, correct me if I'm wrong, but companies on the verge of a bankruptcy normally can't pay out normal salaries, let alone bonuses. So why should the American taxpayer foot the bill for AIG's bonuses? AIG obviously thinks that the American public is full of morons. Based on some of our political choices, I'm not inclined to disagree. AIG should be made to use any bonus money to set up jobs and shelters for the people they duped. It's time to get rid of this money pit. Folks, call your congressman! Do it today.

    July 10, 2009 at 12:48 pm |
  141. Jill Schabel

    AIG bonuses? Let them eat cake – after they pay the taxpayers back. The French nobility found out what happens when you bite the hand that feeds you.

    July 10, 2009 at 12:48 pm |
  142. Lewis Downey

    The bonuses are apparently tied to previous contracts. I ask a simple question; how many of these bonuses would be paid if the company had been allowed to go bankrupt months ago?

    July 10, 2009 at 12:49 pm |
  143. Ken in NC

    AIG's desire to pay out millions in bonuses is a valid demonstration of why the company failed. For some reason they failed to understand that you reap rewards for positive results. There is absolutely nothing positive about running the company into the ground.

    July 10, 2009 at 12:49 pm |
  144. Michaela

    Bonuses are based on merit. These executives ran this company into the ground and now they want MORE money? Because of their stupidity my company cut my bonus in half and many of my friend didn't even get a bonus this year. The entire board should be fired. I can only imagine how those executives subordinates feel working under such idiots.

    July 10, 2009 at 12:49 pm |
  145. Allen

    If we weren't such a 'civilized' nation, we'd stand the hiararchy of AIG up against a wall... but then we are 'civilized', so all we can do is gripe.

    July 10, 2009 at 12:49 pm |
  146. Russ

    AIG, 180 BILLION DOLLAR BAILOUT, who in their right mind would think they deserve a bonus? They should be out looking for a job!
    New Mexico

    July 10, 2009 at 12:49 pm |
  147. Monique Michelle Miller

    Tony, I have been an AIG customer for over 6 years, then they changed there name to 21st Century. After hearing about the bonuses they want to give I have as of today cancelled my policy and went to AAA. I think everyone should if able, cancel their policies and change. Added bonus-my payments are less!!! Yea!

    July 10, 2009 at 12:50 pm |
  148. donald murray

    Just like AIG can claim bankrupcy and not pay taxes or creditors, they should declare internal backrupcy as they had to borrow from the government, so those bonuses are gone (just like a bankrupcy) towards paying back the loan. If they pay these bonuses, they should pay back the government. Now, they can repay the government and then pay bonuses, but then they are accountable to the shareholder, so when their investors have gotten their money and they've gotten their stock back up, then they can have their bonuses.

    Nobody is worth multimillion dollars. Are these people founders of the company? If not, they should not be paid it. They should be ashamed of themselves and even prosecuted for this.
    Not a single comment will be pro this.

    July 10, 2009 at 12:50 pm |
  149. Mike Baird

    I think It's time the folks at AIG woke up and smelled the coffee

    July 10, 2009 at 12:50 pm |
  150. Spence

    How many times are we going to complain about bonuses to AIG? Focus on the big picture...government spending is out of control and no private company should ever get government assistance. Blame your government not the execs!

    July 10, 2009 at 12:50 pm |
  151. Dr. Don T.D. Gala

    Considering the failures (plural) of the subject executives, there should be something in the contract that addresses failures. If they have failed in their tasks, then a bonus should not be an issue, since it should not exist.

    I agree with Andrew's assessment as well, AIG is "out of touch." Since we, the taxpayers, own more than 70% of the company, we should vote as share holders involving this mess. I would vote for withholding these bonuses. When these executives can show a profit and begin to pay us, the Nation, back our money, then we can revisit the question of a bonus. Until then, any executive who pushes for a bonus absent any progress should be summarily terminated from employment for breach of contract.

    July 10, 2009 at 12:51 pm |
  152. Randy

    * Regarding AIG, why didn't our esteemed US Senators & Congressmen protect OUR tax money from bonus payouts of this failed company?

    July 10, 2009 at 12:51 pm |
  153. Damion Lyn

    I can't believe these guys, but then again I'm not surprise!! Aren't they the same folks that had a huge party after getting bailed out?

    July 10, 2009 at 12:52 pm |
  154. Cloyd H Soule Jr

    AIG is this a joke the government bails them out cause of bad management and now they think their people have done a great job for bonuses.As someone sitting on that unemployment line that is disrespectfull to ous.Being a veteran and unemployeed and worked my whole life and these people think this way is a SHAME...Cloyd of Illinois

    July 10, 2009 at 12:52 pm |
  155. don

    If anyone thinks Goverment run health care is the answere they should look north they tax gas about two dollars a gallon. They go to the doctor and waite to be seen some times months. They are going to take $400 million from Medicare and this program according to the goverment is going broke so now the people on these programs are going to pay more and this is people that are on limit income. So don't count on the Goverment to bail you out that is just a dream.

    July 10, 2009 at 12:52 pm |
  156. Danny A.

    AIG should never be allowed to pay another bonus until all shareholders are compensated for the loses caused by the idots in management. Their 20:1 split caused even more value loss. Where is my $10k bonus? Pay all share holders $10k in compensation.

    July 10, 2009 at 12:53 pm |
  157. James

    Why is AIG being allowed such acts? Is the Secretary of Treasure in their pockets? Why isn’t there any fines or investigations against this company? Another fleecing of America. Hasn’t the government learned from the landslide voting for the democrats? Don’t they realize? America is fed up with getting ripped off!! Remember this when its time to go to the voting booths!

    July 10, 2009 at 12:54 pm |
  158. Monique Michelle Miller

    Not sure if the last one went through so here I go again, after hearing about the AIG bonuses, I cancelled my policy and went to AAA! AND got lower payments! I think customer of AIG sould show them just what we think of them, by changing their policies (if possible). It's time for consumers to get off their bumms and make a difference. If we all do a BIG change WILL come. Thanks!

    July 10, 2009 at 12:54 pm |
  159. Robert Hill (Columbus, Ga)

    AIG has got some big "YOU KNOW WHAT" to ask for bonuses. They are a bunch of idiots!

    July 10, 2009 at 12:55 pm |
  160. Joe Shook

    Bonuses? Our daughter-in-law works for AIG here in Houston and was faced with possible layoff a few weeks ago! How can they justify bonuses and actually hand out pink slips with the same out-stretched hand?

    This entire economy plus business ethics are deplorable. Obama needs to rethink his approach and his administration needs to prepare for not being in office much longer!

    July 10, 2009 at 12:55 pm |
  161. Henry Wills

    How can massive debts be paid without everybody working and paying taxes? Full employment might not do the whole job, but record unemployment won't get started. Even my wife agrees!

    July 10, 2009 at 12:57 pm |
  162. Carlos

    I think is time for the tax-payers to get bail out by the government $30 extra in my paycheck is not enough. At least the citizens would have done better with the bail out money (pay up debts, get current with mortagage, etc.). The government should of bail us out and then could of just recover the money in our taxes.

    We the citizen should get bail out now!

    Have good weekend Tony

    July 10, 2009 at 12:59 pm |
  163. Evan

    OK this is getting out of control. I am an Iraq Vet, can’t get a loan to keep my business going, and i have been devoted to starting this business for 3 years now, 3 years is how long I have been home.

    If "AIG" can pay the sick amount of money to their workers, than why can’t I get some money to expand my Business? WHERE IS MY MONEY GOING AIG

    Where can I go, my bills are all paid and I can’t get ahead, my credit is getting trashed do to the "Credit Freeze" I have paid off all 99% of my debt over the last 4-5 years, and my credit is getting worse.

    The government does not impress me with the outrageous spending billions of dollars out there and nothing for vets, which want to make a difference, here at home.

    What can I do?

    Who is willing to help me? do you have any recomedations.

    July 10, 2009 at 1:00 pm |
  164. Luci

    If AIG was allowed to be bankrupt instead being bailed by the government; then bonuses would not have been paid out originally

    This sets a bad precedent that encourages rewarding nonperformance and "too big to fail" syndrome

    People who are laid off and unable to make mortgage payments...

    The bailouts should go to the people

    I voted for Obama and I hope he is not going to allow this to happen and get the bailout money to us

    July 10, 2009 at 1:02 pm |
  165. Dr. Freedom

    If you look deep into the issues that plague the American Public today you will see a consistent underlining theme or motivation. AIG employes intelligent people and it would be rather naive of us to think that they don't get it. Yes, they do get it. They are rewarding failure. And we need to ask ourselves why?

    I believe that the goal is and remains to make sure they are capable of securing funds to line the pockets of the top executives of AIG. They don't care where the funds are coming from. The funds can come from unsuspecting investors, customers, the government. The goal is as long as the funds come in one door and land in the pockets and bank accounts of the top executives. That's all they care about.

    The rest is immaterial. Performance, who cares. The only performance that seems to be measured is how much can "we" get out of someone elses pockets and put into our own.

    They aren't stupid they are just greedy.

    July 10, 2009 at 1:04 pm |
  166. Marques Watson

    Pay millionaires for their business failing. I think these multimillionaire money-mongerers should willingly help out the government. Give a couple million to help fund government programs. But of course this is ludicrous to suggest.

    July 10, 2009 at 1:04 pm |
  167. Ben Campbell

    AIG...for a company under fraud investigation, that has been tagged with bad-faith, deception and liquidity crisis–paying out multi-millions in bonuses would be a HUGE check mark for injustice to tax payers and he Feds bailout.

    July 10, 2009 at 1:11 pm |
  168. Don

    You dopes that say a contract is a contract is true. How ever the
    contract was with AIG, not using our money to pay it off. I would
    not give this stupid company any more money at all. And also
    lay off the executives that are asking for the money. And try to
    find some one that can run the company in the black.

    July 10, 2009 at 1:11 pm |
  169. Greg Nelson

    Sanctions against other nations may not be effective, but if the American people take their business elsewhere, AIG may get the message. Bonuses are ridicules. Pay a person what he/she is worth. In the case of AIG, their are many professionals out of work that would give a 110%, for a lot less compensation. Where do these people get their sense of entitlement. In reality, they are no more important than the people who are left to clean up after them! When is someone going to see the inequity of this, and do something about it? How can some play on their yachts, while leaving others homeless? Greed may soon cause the complete downfall of this nation! Our nation was built by people who possessed integrity. Where are they now?

    July 10, 2009 at 1:14 pm |
  170. Monica Almas

    Why are AIG executives getting a bonus? I have worked for major corporations, and my bonus (management or non management) was ALWAYS tied to Company overall performance. If the company lost money, no bonus.
    Personal Perfomance was rewarded during annual evaluations through a salary increase.

    July 10, 2009 at 1:15 pm |
  171. christa

    I do not want these corrupt people at AIG to get one more bonus. If they do not like it, they can quit. Do not tell me there are no other compentent professionals in the USA. To many lost their jobs and would gratefully accept a job with AIG without getting bonuses for a while, until the economy gets better. I am so tired of the corrupt company called AIG. They, the so called professionals at AIG make me sick and I hope the politicians tell them NO.

    July 10, 2009 at 1:18 pm |
  172. Jesse

    why don't they spread the money around to the regular employees instead of just giving it to the top earners? It would certainly improve moral among them and make us – the tax payers who are going to have to shoulder the burden!
    Those execs are making far too much for us 9o understand or agree with.
    Thank You,
    Jesse Stix

    July 10, 2009 at 1:27 pm |
  173. Dean D. Ellis

    AIg was under investigation by the SEC and the FBI for numerous reasons under the Bush administration yet they were given billions to waste. They have paid hundreds of millions in dollars in fines for various SEC violations. It seems funny that although the majority of the employees are white, they get to keep their high paying jobs while employed by a guilty company. When the Obama administration tries to save jobs for blue collar workers who may be of color (auto industry), rich whites cry foul. In addition these same high paid whites scream bloody murder when their taxes go up, taxes paid by people of color so that high-paid whites can keep their jobs. I do not think that the Republicans are taking the whole story into the proper perspective. The lower class just saved the jobs for the wealthy and they want a bonus for not loosing their jobs.


    July 10, 2009 at 1:28 pm |
  174. Tom

    I think its time people started a revolt against AIG. Cancel any insurance you have and go to a company that does not hand out these huge bonuses paid for by the people who are so often refused claims. Its tippical BS that you get from most insurance companies

    July 10, 2009 at 1:30 pm |
  175. Dolly Pearlman

    I am disgusted with Aig wanting to give huge bonuses to people who have large incomes while they have used up their investors money to the point where the investors are broke. If they dare to give bonuses next week I will remove the small amount of money that is left. I wanted to do that last Sept. but I was told to give Aig a chance ro recoup. TIME IS UP !!

    July 10, 2009 at 1:31 pm |
  176. Adam Nuszen

    There are commercials stating that putting health care into the hands of the government is not to be trusted. These commercials i believe are republican produced. Therefore they are saying you cant trust them. Would they not be the beaurocrats?

    July 10, 2009 at 1:41 pm |
  177. RJ

    Rise up just like the Iranians have to! Rise up America or your going to lose everything to people like these CEO`S, entitled, where the hell do they get off! While I and most regular people are just worried if we`ll have a job tommorow, jesus when are we going to start to do something about this? Are the rich that much more powerful, no I dont think so, we have been trained to think so but they need us as much as we need them they just cant see that now till its too late!

    July 10, 2009 at 1:51 pm |
  178. katie mccarron

    At the least, AIG employees should return the full amount with interest and fines, even if it has to come from their own pockets. The people who are at the top should be charged with fraud and their wives should be investigated as to how much they knew about the situation. If the money or items they purchased have been transfered to someone else, he or she should be held responsible for accepting stolen goods. The fallen idols of these fallen companies appear to be personally responsible for our (and the world's) severe economic woes, and, therefore, could be formally charged with treason. Their greed and selfishness are responsible for weakening the ability of the citizens to live functional, productive, and responsible lives. Families losing their homes, fighting over bills, being unable to afford to live safely and without fear of the future, small businesses being sucked up by multinational companies. These guys have no conscious. They live in a bubble separate from their employees and customers (except those who are cronies). Oh, ya, a bit of regulation is a great idea!

    July 10, 2009 at 1:54 pm |
  179. Kathleen (Mad in the Midwest)

    AIG wants to give bonuses again !! This is just NUTS. The American Taxpayers are losing their jobs, health care and other benefits in companies that are cost saving measures. Small businesses cannot get short term operating loans also as the banks that got the TARP monies (American Taxpayer Money!!) were suppose to use those monies to lend but ARE NOT. Those banks are using Taxpayer Monies to pad their bottom line to show PROFIT AND PAY FALSE BONUSES ! Small businesses are CLOSING for that reason.

    July 10, 2009 at 2:05 pm |
  180. Brandon Boone

    What kind of integrity are you showing us as a major American company? It was the lack of integrity that got us into this position are they going to put their company back in the same position 12 months from now?

    Where's Robin Hood when you need him?

    July 10, 2009 at 2:05 pm |
  181. Buck

    What should we expect? We give them what they want and they screw us around till they need more tax money?

    July 10, 2009 at 2:46 pm |
  182. John Rumble

    Hell no – the bonuses should not be paid. First AIG needs to get out of the red, then it needs to pay the govn't, monies back. After that they can do whatever they want. But are they not loosing sight of the fact that those executives were the ones that caused the company to loose money in the first instant? Why are these people still employed by AIG?

    July 10, 2009 at 4:15 pm |
  183. Javed

    This is outrageous! When will these executives stop being so selfish and irresponsible and start thinking about the company's growth? The company should stop all bonuses as long as it's surviving on tax payers' dollars.

    July 11, 2009 at 12:19 am |
  184. Crystal James

    Why are you still plaguing Michael Jackson? How ever he passed away is not your business, nor can you convince me you even care. It's just something more for you to talk about. Forget about the people who supplied MIchael Jackson with medication, and get to the root of the problem. You parasitical, inconsistent, unrelenting, journalist. To think at one time in my life I wanted to be a journalist. Enough already, There are people starving, unemployed, homeless, and loveless; However, all you can think to do is bury Michael Jackson deeper. How can you sleep at night, making a living from other's hurts and tragedies. I am disgusted and wish you people would get a grip.

    July 11, 2009 at 12:33 am |
  185. Falicia in California

    I am so sickened by this story! I can not believe the reasons given by the cluband they do not even sound sincere. WHY would anyone hurt these beautiful children? They chose to hurt these innocent children and their families, instead of removing the rude and hateful guests that had something to say??? WHY?
    The club accepted the check for the children swimming there and by doing that all questions/concerns should have been addressed prior to "Taking Their Money"!
    I think they are sorry but not for hurting the children, only for it being so widely known. This is a True Hate Crime towards humanity! They should be ashamed of themselves.
    The wife, while sticking up for her husband stated that he was kind and always taught her to talk things out????? What happened to his kindness and when did he offer to talk? While he was having the children leave the pool??? Again, Shameful.

    I am a caucasion woman, I am not a better person because of that., this is just how I was born. No one should be treated differently because of their skintone, we all bleed the same color!

    I am sorry that darling Marcus Allen, his family and his friends had to witness such a hateful act. He has shown such strength and courage during this. My hat goes off to his Mother, you are an inspiration to Mother's , standing up so bravely for your son and the situation. It just Broke my heart to feel Marcus's pain through his tears!

    This is 2009, wake up America. Our children's future needs you to wake up!

    July 11, 2009 at 5:56 pm |
  186. Lancers Opinion

    Lancers Opinion

    The Bonuses for Company Executives that received Stimulus money are totally unacceptable. These executives bankrupt their companies and should not be given rewards for poor management skills. There should be Zero Bonuses for any of these executives until 100% of all stimulus money repaid and their companies are Profitable.
    Zero Bonuses for Executives of AIG, Bank of America, Citicorp, Chrysler, General Motors and Many more companies that came begging for taxpayer money it has not been earned.
    For to long we have allow poor Executives and greedy CEO’s and CFO’s of large corporations and investment groups to take huge bonuses. As they lose investors money, layoff employee’s to save money for bonuses and generally run their companies in the ground. While they fly off to Florida or some other exotic place, with the other executives to celebrate their bonuses and other rewards for a JOB POORLY done. These executives don’t care about the people who build their products, or those who invest in their companies as long as they get the big salaries and bonuses. Now after they have bankrupt the companies and are using taxpayer money to bail them out and they want permission for another bonus. These Executives, CEO’s, CFO’s and all upper management forget, they to are just Employees. From the jobs they have done in the past not very good employee’s. These people need to get a life, Zero Bonuses until their companies are profitable. This is Lancers Opinion

    July 11, 2009 at 11:17 pm |
  187. Tye

    They should consider it a bonus that they still have jobs. My brother's unemployment is about to run out, yet our tax payer money is going to help millionaires become wealthier? Oh the humanity. (I've always wanted to say that)

    July 12, 2009 at 10:47 am |
  188. Robert Hale

    How is it that AIG gets taxpayer(mine) money and I can't under the Cash for Clunkers bill because my vehicle is twenty-six years old but conforms in every other way? Retention bonuses in this economy!? People are lucky to have their jobs, I should know.

    July 12, 2009 at 11:48 am |
  189. Larry

    We gave them money to save them and they're laughing in our faces.

    This company is unreal. When are they going to pay back the TARP money? That shoud be done before any more bonuses are given out.

    July 14, 2009 at 11:32 am |
  190. Joseph

    Absolutely not, not if we are still supporting them. I mean this is close to STUPID, I lost all my bonuses due to this economy and to think wernt they the people that set flame to this debocle

    July 15, 2009 at 12:28 am |
  191. Greg, Ontario

    Someone needs to tell that bunch of dummies where they stand. Not everyone at AIG was the problem but they are part of the whole and should not get a dime in bonuses until the tax payer is paid back. If they don't like it they should be told don't let the door hit you on the way out and have a nice life.

    July 23, 2009 at 12:43 pm |
  192. Albert Ciotti

    I think A.I.G. no longer needs anyone's patronage or business. they seem to have done well enough now so everyone should no longer do business with this or any company that is associated with A.I.G.

    September 5, 2009 at 8:43 am |
  193. Albert Ciotti

    Are they going to donate huge amounts of cash for the next democratic campaigns?

    September 5, 2009 at 8:46 am |
  194. William Denmark

    Since when did incompetence deserve a bonus, most
    employees causing a major melt down of company would be fired not rewarded. Have we all lost our common sense???

    October 16, 2009 at 11:15 am |