NEW YORK/WASHINGTON –
New York Attorney General Andrew Cuomo will investigate whether American International Group bonus payments are fraud.
This comes after President Barack Obama said earlier that “recklessness and greed” led to the financial problems of AIG and he’ll try to put an end to that. The president was making an appearance to announce help for small businesses when he talked about AIG.
"All across the country, there are people who workhard and meet their responsibilities every day, without the benefit of government bailouts or multimillion-dollar bonuses. And all they ask is that everyone, from Main Street to Wall Street to Washington, play by the same rules."
It came out over the weekend that AIG was paying large executive bonuses. $165 million was made payable to executives by Sunday.
AIG has received more than $170 billion in federal rescue money and is 80% owned by U.S. tax payers
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