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Subpoenas Issued for AIG Bonus Info

AP
posted: 255 DAYS 11 HOURS AGO
comments: 23
filed under:
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ALBANY, N.Y. (March 16) - New York Attorney General Andrew Cuomo says American International Group missed his deadline for providing details about employees set to receive millions of dollars in bonuses and he's issuing subpoenas for the information.
Cuomo says his office will investigate whether the employees were involved in the insurance giant's near-collapse and whether the $165 million in bonus payments are fraudulent under state law. AIG reported this month that it lost $61.7 billion in the fourth quarter of last year, the largest corporate loss in history.
Cuomo had set a 4 p.m. Monday deadline for the company to provide the employees' names along with information about their work and contracts.
Cuomo also says his staff were told AIG mailed the bonus checks Friday.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2009-03-16 17:18:18
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Recent Comments

1 - 10 of 23
23 comments

Joy2BDA 03:52:34 PM Mar 17 2009

If the bonus's have already been paid, why not reduce the amount of bailout by the amount of bonus's paid?

QUIXMAR 10:16:15 AM Mar 17 2009

Amazing. Those who know are defending the bonuses, as am I. Those who don't know are doing nothing more than class envy bickering.The government gives out employee bonuses and noi one complains. Why? Government employees should not get any bonuses (unless they run a department and maybe saved us taxpayers "X" amount of money). I heard that 2/3 rds of government employees get such bonuses. Again, why?Your mailman gets no bonus yet works his butt off to deliver your mail, but his boss gets a bonus if he pushes that mailman to do more work in less time. Look at the guy or gal carrying the mail. See if they walk with a limp or some other ailment. Injury claims are going up because you cannot squeeze blood from a stone. Peoples bodies are failing them, but they complain about your injury claim. Truth be known, if these people weren't pushed and allowed to do their jobs, the customer would get much better service.

MHutch69 06:49:53 PM Mar 16 2009

What the hell happened to the value and legal enforcement of a CONTRACT? Lenders being forced to reduce balances, employees told they do not get monies due by contract? This has to stop.AIG's insurance companies are making money and have continuned to do so. If these bonuses were being paid in the AIG Financial Services Division, I would have all of them arrested for theft! That is NOT the case. AIG's insurers have operated on mostly a responsible manner and profited accordingly. These employees should not be screwed out of monies owed via contractual agreements.As Barry Obama continues to invalidate enforceable contractaul agreements, who in this world will want to do business with the U.S.? Chinese are even smart enough to dodge a President who reverses obligations depending upon how he feels about the recipients. If you are poor, blatantly LIED on a loan application, OR just do not feel like working, this administration will take care of you by taking MY money as I choose to

Richloveski 06:41:37 PM Mar 16 2009

Enough of this dribble .... Envoke whatever laws we have to wrest them out of their beds and summon them to stand before we the people for justice and liberty for us all !!

GONARVCO 06:35:11 PM Mar 16 2009

Greed. Plain and simple.

ONeillHP 05:00:56 PM Mar 16 2009

when you get the list of whos who can we have it too kind of a hit who list

starlite5ss 04:35:33 PM Mar 16 2009

Regardless of the bonus recipients part in the banks losses, I am outraged at the mentality of the government who allowed this to occur and AIG for abusing the funds from the American public who are taking the biggest losses. I can't believe the utter disregard for the taxpayers who paid to bail them out. What fools we have been.

Mofoca22 04:24:00 PM Mar 16 2009

go andrew!! if he runs for govenor im voting for him

RLMKnowlton 03:48:28 PM Mar 16 2009

It seems to me like New York's attorney general is the only one that's not sleeping at the switch. Go get these mother f*uckers. Enough already.

EMESB 03:41:32 PM Mar 16 2009

This is awsome tax cheats controling the bonuses. Sounds to me like the wolf guarding the henhouse. Where is Barney Mae and Freddy Dodd. They would know how to handle this.

1 - 10 of 23
23 comments

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