Friday, March 20, 2009

Nineteen US states go after AIG


Nineteen US states are demanding that insurance giant AIG reveal details of bonuses paid to executives, so they can take steps to recover the funds.

This comes after New York Attorney General Andrew Cuomo said AIG had given him such a list on Thursday.

The US House of Representatives has passed a bill to levy a tax of 90% on the big bonuses paid to people working at firms that have received state aid.

The $165m (£114m) of bonuses have caused outrage across the US.

US President Barack Obama has denounced such bonuses, while even AIG boss Edward Liddy has described them as "distasteful".

AIG has taken $170bn in aid from the US government.

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