Monday, March 16, 2009

Attorney General Issues Subpoenas for Information About AIG Bonuses

New York Attorney General Andrew Cuomo said he'll issue subpoenas after AIG missed this afternoon's deadline for giving him a list of executives who are receiving bonuses.

The company received more than $170 billion in federal bailout money.

They are planning to spend $165 million on executive bonuses.

Cuomo said he wanted the list of names plus information about their work and contracts on his desk by 4 p.m. today. He said his office will investigate whether the employees were responsible for AIG's near-collapse and if the bonus payments are fraudulent under state law.

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