AIG has gotten more than $150 billion in United States federal bailout money. And while the company is still far from profitable, AIG’s CEO says that the bailout money will be repaid in the next three to five years — as long as the economy recovers. If the economy doesn’t recover, he says that the repayment process could take longer.
Edward Liddy, the CEO of AIG, spoke in front of a congressional committee that wanted to hear more about AIG’s present plans and what the future may hold. The committee didn’t hold back when it came to questioning and even slamming …read more

Executives for AIG who came under fire for receiving in excess of $160 million in bonuses despite the fact that the company was bailed out by taxpayers have agreed to give back approximately $50 million in bonuses. Making the announcement was Andrew Cuomo, the Attorney General for the state of New York. Earlier in the month, Cuomo subpoenaed to get the names of the AIG executives who were receiving the bonuses.
In total, multiple reports indicate that more than 350 AIG employees were given bonuses. More than six dozen of those employees received a bonus of at least $1 million. The …read more