Tuesday, March 17, 2009

http://www.reuters.com/article/marketsNews/idINN1728961520090317?rpc=44


* 73 at AIG received $1 mln or more in bonuses-NY's Cuomo

* Cuomo says contracts locked in pay at 2007 levels (Adds details of brief)

NEW YORK, March 17 (Reuters) - American International Group (AIG.N), which has received $180 billion in taxpayer money to stay in business, created 73 millionaires with bonuses of $1 million or more in 2008, New York's Attorney General said on Tuesday, releasing details of a probe into payments at the insurer.

Attorney General Andrew Cuomo said in a letter to Rep. Barney Frank, chairman of the U.S. House Committee on Financial Services, that his office found that the top bonus recipient at AIG last year got more than $6.4 million and the top 10 received a total of $42 million.

"These payments were all made to individuals in the subsidiary whose performance led to crushing losses and the near failure of AIG," said Cuomo, who offered the details to Frank before a hearing