New York Attorney General Andrew Cuomo is investigating ``unwarranted and outrageous expenditures'' at American International Group Inc., which received an $85 billion federal bailout last month.
In a letter to AIG's board of directors, Cuomo demanded the company stop ``extravagant'' expenditures and recover millions of dollars in unreasonable payments, or face legal action.
Cuomo cited a $5 million bonus and a $15 million ``golden parachute'' AIG awarded its chief executive officer in March. Martin Sullivan was AIG's CEO at the time. Cuomo said the company also spent hundreds of thousands of dollars on ``luxurious retreats'' for executives, including an overseas hunting party and a golf outing.
``The party is over,'' Cuomo said today at a press conference on Wall Street in lower Manhattan. ``No more hunting trips. No more luxury resorts. They are not going to have the party and leave the hangover for the taxpayers.''
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2 comments:
After the government found out about the big parties, they agreed to give them 37.8 billion more dollars on top of the 85 billion dollar loan they recently gave! But hey, at least they're "investigating"! WTF?! Party on dudes...
Now they've given them billions more this week while altering large sums of the previous $150+ from "loan" status to "aid" (no need to pay back) status.
Sounds like the party is alive and well!
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