Cuomo Demands to See AIG Contracts
Monday, March 16, 2009
New York, NY —
New York Attorney General Andrew Cuomo has issued subpoenas to AIG, demanding that the troubled insurance firm detail who is getting big bonuses. Cuomo also wants to see the contracts that supposedly force AIG to make good on executive bonuses. He told reporters in a conference call that his review is meant to halt the, quote, "absurd" abuse of taxpayer bailout dollars:
CUOMO: No one is trying to micromanage anyone's business, but we do want fairness.
AIG says the contracts oblige it to pay out $165 million in bonuses.