AIG will repay taxpayers for bonuses, Geithner says

They are paying it back by treasury deducting it from the $30 billion we are giving them? I bet those 73 greedy, incompetent execs getting $1,000,000 are really upset about this. A joke-Lou

AIG will repay taxpayers for bonuses, Geithner says

WASHINGTON (MarketWatch) -- The Treasury Department will order failed insurance giant American International Group Inc. to repay the taxpayers up to $165 million that the company
American International Group (AIG) is giving employees as bonuses, Treasury Secretary Tim Geithner said Tuesday.

In a letter to congressional leaders, Geithner said the government can't block the payments, which are being made under contracts signed before the government stepped in with $173 billion to prevent AIG from going bankrupt.

Acknowledging "considerable outrage" about the bonus payments, Geithner said AIG will pay the Treasury an amount equal to the payments, and the Treasury will deduct that amount from the $30 billion in government assistance that will soon go to the company.