New York Attorney General Andrew Cuomo said late Monday that 15 of the top 20 recipients of $165 million in retention bonuses from American International Group Inc.'s Financial Products unit have agreed to give back their bonuses -- amounting to an excess of $50 million in cash.
"I applaud all the AIG employees that are returning the bonuses," said Mr. Cuomo in a conference call. "They are doing the right thing."
He added that he sees no public interest in revealing the names of people who return their bonuses, and he acknowledged that returning the money is a difficult decision for many people in the unit who were not involved in creating the problematic transactions that helped topple AIG.
CFA Institute To Crush Record Number Of Dreams Tomorrow
More financial services employees than ever are hoping to add those three little letters to their email signature.