AIG’s million dollar (plus) bonus babies

Cuomo’s got the names of all 73 AIG employees who received bonues of $1 million and up, but hasn’t released them yet. Why not? What good will they do him, compared to us Greenwich real estate agents. We need names of Greenwich residents Andy, and we need them now. These folks have money and we have houses to sell. Get on it, please.

One name associated with AIG FP is Greenwich’s own Robert Leary but he’s probably a bust as far as peddling him a mansion goes because (a) he left AIG in 2006, (b) unlike most of his fellow whizz-bangers, he warned of the liability they were creating, and (c) he’s supposed to be a decent, honorable guy – that usually precludes foisting an over-priced, gawdy piece of builder’s dreck on him. But Bob, maybe you have friends who are still there?

UPDATE: What did I tell you? Mr. Leahry lives in an 1898 house of modest size and, if my memory of the house still serves, exquisite taste. We don’t do houses like that in this town any more, sir, so you can just stay right where you are – don’t call us, we’ll call you. And your friends probably have the same taste so they can stay off the phone, too.

This is a tough business.

9 Comments

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9 responses to “AIG’s million dollar (plus) bonus babies

  1. pulled up in OG

    Eleven of the 73 million-dollar thieves no longer work for the company. So much for AIG’s, and all the others, arguments about the need to hold on to top flight talent.

  2. anonymous

    The Merrill bonuses were much bigger

    WSJ named most of Merrill’s top 2008 earners

    Easy to guess top 50 earners at GS or MS last yr…

  3. edgewater

    From what I hear, the AIG bonuses that everyone is yelling about were given under a contract signed in March, 2008 that guaranteed these folks the same compensation as they had in 2007. If, after the fact, the Feds can redo these contracts and take away these benefits, you should not expect them to stop with officers of AIG. No one is expecting the auto worker to give up pay they ‘earned’ in 2008, so the whining about ‘renegotiation’ in Detroit is not in any way relevant. No one takes away the $10,000,000 salary of A-Rod if he hits only .190 next year. If contracts aren’t honored [absent fraud, which no one is even suggesting occurred], we’re all in trouble.

    • christopherfountain

      I agree with you in principle, Edgewater, and I’m sure you’re right – if they can abrogate contracts for this unpopular group, who’s next? And it does gall me to see Chris Dodd and Barney Frank, of all people, thumping their chests and claiming, having helped set this up, that they’re now going to champion the Little People.
      That said, can’t we at least drag them behind horses for a few miles?

  4. Riversider

    Chris,
    If I am reading the chart right, it appears that the recipients of the AIG bonuses over $1m gave political contributions mainly to the Democrats in 2008 with Dodd and Obama receiving the most contributions. Wow !

    http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig—time/

  5. Riversider

    Chris,
    I read the chart incorrectly. These are contributions from AIG, not the bonus recipients. If the bonus names are released, it would be nice to see who they contributed to politically.

  6. Walt

    These guy’s are bigger crooks than Bernie. They have no shame. If you do track them down Chris, tell them to call me. Sales at FGG are still a little slow.
    Off to Happy Hour!!
    Your Pal,
    Walt

  7. pulled up in OG

    AIG was functionally bankrupt the day they took the first nickel from Uncle Sam. Anything paid since then – these bonuses, current salaries, coffee breaks – should be at risk.

    edgewater: “If, after the fact, the Feds can redo these contracts and take away these benefits, you should not expect them to stop with officers of AIG. No one is expecting the auto worker to give up pay they ‘earned’ in 2008, so the whining about ‘renegotiation’ in Detroit is not in any way relevant.”

    Tell that to someone (like an airline pilot) that lost pension or health benefits they EARNED, after a bankruptcy. Especially one engineered on Wall Street.

  8. Inside the Buy-side Bail

    Chris,

    “(b) unlike most of his fellow whizz-bangers, he warned of the liability they were creating,”

    What leads you to this conclusion? I would think that R.L. has serious orange jumpsuit risk.