Former AIG chief refuses It Started Exec Bonuses

 

Monday, Mar 23,2009, 11:28:33 PM   Click:

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WASHINGTON_The former head of insurance giant AIG claims that the company under his leadership, not the type of bonus system which Executive has been the subject of criticism throughout the country.

Hank Greenberg, who created the finance division of the American International Group Inc, which is central to the company financial problems, said "absolutely not" to questions on the so-called retention bonuses.

Greenberg, in an interview broadcast Friday on CBS 'The Early Show ", said that when he was" a nobody, including me. If you do not work, you do not deserve' be there. "

The current head of AIG, Edward Liddy, practiced in an appearance in Congress Thursday that its predecessors were responsible for current financial problems within the company.

CBS said that AIG said in a statement that Greenberg had been wrong to say that he never put in a system of retention bonuses.



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