March 16, 2009

Cuomo Subpoenas AIG Bonus Information

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As I anticipated, AIG was not in fact able to gather all the information Andrew Cuomo wanted before the New York attorney general’s 4pm deadline. Cuomo wrote a letter to AIG this morning demanding information about the millions of dollars of bonus money it’s handing out to employees of its financial services division—the same division that got it into the mess it’s currently in. As the deadline passed this afternoon, Cuomo called performance bonuses for AIG executives “oxymoronic” and said he was issuing subpoenas immediately.

OnceIf Cuomo gets the names, you can expect the executives who received bonuses to be very publicly shamed. Maybe then some of them will give the money back.

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