AIG Provides Names of Bonus Recipients to Cuomo

[babylonsister]

http://www.cnbc.com/id/29776438?ref=fp3

AIG Provides Names of Bonus Recipients to Cuomo


American International Group has provided a list of bonus recipients to New York Attorney General Andrew Cuomo, as demanded in a subpoena.

Cuomo had threatened to take AIG to court if the company didn't provide the names.

The $165 million in bonuses that were paid to AIG executives late last week have created a firestorm of criticism because the struggling insurance company has received nearly $180 billion in government bailout funds.

Both Congress and President Obama have expressed surprise over the bonuses and demanded that the money be paid back. Democratic leaders plan to pass legislation aimed at recovering the bonuses.

Cuomo also told reporters on a conference call that he expected Bank of America to provide the names of 200 highest bonus earners at Merrill Lynch last year under a state court ruling published Wednesday, which said the names were not a trade secret and could be made public.

[aquart]

1. Poor fellas are changing their unlisted numbers as we speak.

They wake in sweaty starts from dreams of pitchforks and torches.

[PetrusMonsFormicarum]

2. I like pitchforks and torches!

But then, I'm bitter too.

[aquart]

3. Lotta that goin' around.

[OhioChick]

4. Yep and much deserved. n/t

[C......N......C]

5. The compensation committees

need to be looked at. How do they determine how much of their clients money do they have discretionary control over. They seemed to have allocated a very large portion to draw salaries and bonuses from. In order to have these gigantic amounts of money to play with, they must have overridden all common sense and risk easements to determine their own self worth.