AIG Chief: Give It Back

AIG Chief: Give It Back (Added: March 18, 2009)

Update: Edward Liddy asks employees to voluntarily return bonuses paid for by federal money (more)

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Update:Edward Liddy asks employees to voluntarily return bonuses paid for by federal money

By: Michael Snowden | WKRG-TV
Published: March 18, 2009

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WASHINGTON (AP) - The head of financially strapped AIG is
telling Congress he's heard the rage over executive bonuses and has
called on employees to voluntarily return at least half of the
money.
Testifying under oath at a congressional hearing as intense as
any in recent memory, Edward Liddy said that some workers there
already have stepped forward to give money back.
Liddy, who is chairman and chief executive officer of AIG, told
a House subcommittee that the bonuses could be defended legally as
a legal obligation of the company. But he also said that given the
national uproar, he asked those who got "retention payments" over
$100,000 to return at least half of it.

(Copyright 2009 by The Associated Press. All Rights Reserved.)