State AGs Probe AIG Bonuses

Coalition of 19 state officials demands list of AIG bonus recipients

By Nick McMaster, Newser Staff

Posted Mar 20, 2009 2:01 PM CDT

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State AGs Probe AIG Bonuses — Pedestrians pass an American International Group office building Friday, March 20, 2009, in New York. (AP Photo/Frank Franklin II)

The attorneys general of 19 states have joined forces to investigate the bonus payments made to AIG employees, the Wall Street Journal reports. In a letter to the firm, the coalition demands a list of all employees of the financial products unit who received bonuses after the government started providing financial assistance in September 2008.

The letter also asks for the compensation contracts of the relevant employees. The probe is to "ensure the investing public, as was promised, that money received by the company is being utilized to improve the financial welfare of the company, not to pad the pockets of the same individuals who led to the financial crisis in the first place,” the AGs said in a statement.
(More AIG stories.)

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