Outrage grows over A.I.G. bonuses – NY AG Cuomo will subpoena info
New York Attorney General Andrew Cuomo said he will subpoena American International Group Inc. for information on officials who were paid bonuses. Cuomo said earlier today that the New York-based insurer, which has been bailed out by taxpayers, may face a subpoena if it didn’t hand over names of employees receiving retention pay. The attorney general demanded their names, positions, job descriptions and performance, as well as their employment contracts and who negotiated them, according to a letter sent earlier today. – From Bloomberg
March 16th, 2009 at 4:35 pm
Of course some of the money went to foreign banks, AIG had to pay down its debts to become a more liquid company. If they have debt, they can’t loan we need to stop shying away from the global economy. However tax payer money has no business lining the pockets of the people who dragged us into this mess in the first place. There is a great video about this :http://www.newsy.com/videos/bailouts_and_bonuses_for_aig/.
Since AIG is probably going to need more money in the future it might be a good idea to court public opinion.