Statement From Attorney General Andrew M. Cuomo In Response To Aig Ceo Edward Liddy's Testimony Before Congress
"AIG’s proposal to ask their bonus recipients to voluntarily give back half is simply too little too late. Mr. Liddy’s proposal to take half back from those who got more than $100,000 will cover some 298 out of 418 bonus recipients. Rather than take half-measures, AIG should immediately turn over the list, which we have subpoenaed, of who got what and when.
The American people have a right to know what is happening with massive amounts of their money. Mr. Liddy needs to understand this. If AIG is really serious about getting these bonuses back, they should comply with the subpoena we have issued. Mr. Liddy said at the hearing today, in response to Congressman Gary Ackerman’s question, that AIG will comply with our subpoena, but we have still received nothing from them. If AIG has nothing to hide and is not embarrassed about these payments, they should turn over the list now. The era of shrouding huge bonuses in secrecy must end.
We prefer not to go to court on this matter, but AIG is leaving us little choice. I hope the leadership at the company comes to its senses now.”