AIG London Execs: Returning Bonuses Is Blackmail

[kpete]

Source: CNBC

AIG executives in Europe are adamant they should not have to return their controversial bonuses and some feel that pressure on them to do so may amount to blackmail, according to a company employee and internal emails.

AIG Financial Products unit head Gerald Pasciucco told a staff meeting for UK and Paris employees on Monday that he thought a demand for repayments was to a certain extent "blackmail," said a London-based recipient of one of the retention bonuses from the bailed-out insurer.

"The vast majority of people in London have made the decision that the request is pretty offensive," the employee said. "It effectively constitutes blackmail whether it is criminal or not. There is no moral reason to give it back."

A company spokesman, however, said American International Group had no concerns as to the legality of any repayments.

Read more: http://www.cnbc.com/id/29890568

[Rosa Luxemburg]

1. stocks might have a new meaning

you guys can be released from the stocks when you give the money back

:evilgrin:

[TheEuclideanOne]

3. I'll buy the wood.

Just sayin

[librechik]

2. xcuse me--DEMANDING the bonuses is the blackmail

especially considering the threats we heard if they were NOT PAID!

[mbperrin]

4. AIG exec uses MORAL argument?

OOOOO.....now my head hurts!

How did he keep from bursting into laughter when he said that?

[GinaMaria]

7. more like bursting into flames eom

[blueworld]

5. Keeping the money is fraud & larceny...

What do they call it that they supposedly "must" be retained because they're the only ones that can understand & explain the derivative crap that brought the whole company down? I call that blackmail (also a lie). "Unfair" is all the 401K money that has been lost by little old folks all over the world because of their "work". Anyway, their fraudulent contract was with AIG, not with me. I want my money back. Greedy bastids. :mad: :mad:

[GinaMaria]

8. I agree, they can get the money from AIG not from the American

tax payers! It's time for the parasites to leave the system.

[damntexdem]

6. Well, whatever it takes.

;-)