New York Attorney General Andrew Cuomo has told American International Group he wants details about employees set to receive millions of dollars in bonuses on his desk by Monday afternoon or he will subpoena the company.
Cuomo said his office will investigate whether the employees were involved in the insurance giant’s near-collapse and whether the payments are fraudulent under state law.
Yes, this is the same Andrew Cuomo whose policies at Freddie & Fannie helped get us — and AIG — into this mess.
Not that I’m defending AIG, mind you — broke companies suckling on the public teat have no business paying out bonuses. Then again, had AIG been allowed to go broke, they’d have new management and new contracts. And their troubles would be their own, not ours.