Cuomo Brings Home the Bacon!

Andrew Cuomo Gets $50 Million in AIG Bonuses Back

Mr. Cuomo said he was working his way down a list of A.I.G. employees, ranked by the size of their bonuses, and had already won commitments to pay back $50 million out of the total $165 million awarded this month. But in a reversal of the stand he took last week, he said he did not intend to release any names.

A spokeswoman for A.I.G., Christina Pretto, confirmed that employees had been agreeing to give back their bonuses, and said there had also been “a handful of senior-level resignations.” She said the company expected more resignations.

This bore out the predictions of A.I.G.’s chief executive, Edward M. Liddy, that if employees had to give back their bonuses, they would probably resign. In remarks to a House Financial Services subcommittee last week, Mr. Liddy expressed concern that such resignations would make it harder for A.I.G. to wind down its portfolio of derivatives, currently worth $1.6 trillion. The company wants to minimize losses while exiting the derivatives business.

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