It looks like action is starting to happen in regards to AIG. Of course Cuomo is leading the way:
New York state’s attorney general joined the growing list of those angered by news of American International Group’s bonuses, and wants to have details on his desk this afternoon about who is getting it rewarded.
Attorney General Andrew Cuomo says his office will investigate whether recipients of the payments were involved in the insurance giant’s decline and whether the payments are fraudulent under state law.
In a letter to CEO Edward Liddy, Cuomo said he’s been investigating AIG compensation arrangements since last fall and would issue subpoenas at 4 p.m. EST Monday if he didn’t get the names of employees scheduled for bonuses plus information about their work and contracts.
Yes! And our President is also pissed about it:
Earlier Monday, President Barack Obama said he’s asked Treasury Secretary Tim Geithner to pursue “every single legal avenue” to block the payouts.
“Under these circumstances, it’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” the president said. “How do they justify this outrage to the taxpayers who are keeping the company afloat?”
The Obama administration is looking for ways to recoup at least some of the money reports CBS News correspondent Peter Maer.
Now that is action – start getting money back from these crooks.
Josh also points out that there is a fraud investigation underway by the UK. This started last fall. I just wonder why we are giving taxpayer money to a bunch of crooks. This really makes Ted Stevens and Duke Cunningham look like saints.