The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: GROUND ZERO™ who wrote (9505)	3/18/2009 10:14:55 AM
From: DuckTapeSunroof	Read Replies (1) of 103300

Conn. AG doubts AIG bonuses required by state law Wed Mar 18, 2009 7:01am EDT reuters.com NEW YORK (Reuters) - Connecticut's attorney general said he had "significant doubts" that $165 million of bonuses recently awarded by American International Group Inc (AIG.N) are required under state law. "AIG is shamelessly shielding itself behind the Connecticut Wage Act, a joke of a justification for squandering scarce taxpayer resources," Attorney General Richard Blumenthal said in a statement on Tuesday. "We should use any and every well-founded legal weapon to recapture these baseless bonuses." Blumenthal said his office will "carefully investigate" the merits of AIG's claims, but added: "Corporate collapse demands accountability -- not windfall payments." AIG awarded the bonuses even after getting a series of taxpayer bailouts totaling roughly $180 billion, and incurring a $61.7 billion fourth-quarter loss. A slew of federal and state politicians, including President Barack Obama, and regulators, have demanded steps to ensure the repayment of the bonuses. Some of the bonuses went to employees of the AIG unit responsible for much of the insurer's troubles. (Reporting by Jonathan Stempel; Editing by Tim Dobbyn)

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