Several details about 73 AIG bonus recipients were revealed today by N.Y. State attorney general Andrew Cuomo in a letter sent to House Financial Services chairmanbBarney Frank. The recipients weren’t named, so the option of a torch-carrying, pitchfork-wielding mob congregating in from of their homes with Stephen Colbert leading them on isn’t likely at this stage.
One detail in the letter was that despite a claim from AIG’s topper than over $160 million in bonus payments had to be paid to keep the highly-valued employees from leaving the company, 11 out of 73 recipients are no longer with AIG,and one of the departed individuals received $4.6 million before cleaning out his desk.
The 73 recipients were members of AIG’s Financial Products subsidiary, “the unit of AIG that was principally responsible for the firm’s meltdown,” according to Cuomo.
Cuomo’s letter stated that (a) the top AIG recipient received more than $6.4 million, (b) the top seven bonus recipients received more than $4 million each, (c) the top ten bonus recipients received a combined $42 million; (d) 22 individuals received bonuses of $2 million or more, and combined they received more than $72 million;(e) 73 individuals received bonuses of $1 million or more.