03-25-2009, 03:30 AM
WASHINGTON - American International Group has paid its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.
On Saturday, a busload of activists representing working- and middle-class families paid visits to the lavish homes of AIG executives in Connecticut to protest the bonuses awarded by the struggling insurance company.
About 40 protesters sought to urge AIG executives who received a portion of the $165 million in bonuses to do more to help families.
WASHINGTON â President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of "recklessness and greed" and said he intends to stop it from paying out millions in executive bonuses.
"How do they justify this outrage to the taxpayers who are keeping the company afloat," the president said.
Current development " American International Group Inc. employees have agreed to return about $50 million of the $165 million in bonuses awarded earlier this month by the insurer, Cuomo's office said Monday."
On Saturday, a busload of activists representing working- and middle-class families paid visits to the lavish homes of AIG executives in Connecticut to protest the bonuses awarded by the struggling insurance company.
About 40 protesters sought to urge AIG executives who received a portion of the $165 million in bonuses to do more to help families.
WASHINGTON â President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of "recklessness and greed" and said he intends to stop it from paying out millions in executive bonuses.
"How do they justify this outrage to the taxpayers who are keeping the company afloat," the president said.
Current development " American International Group Inc. employees have agreed to return about $50 million of the $165 million in bonuses awarded earlier this month by the insurer, Cuomo's office said Monday."
