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Tuesday, March 17, 2009

New York Attorney General Andrew Cuomo is apparently going after the AIG bonuses. He's already got some details on who got paid:

The highest bonus was $6.4 million, and six other employees received more than $4 million, according to Mr. Cuomo. Fifteen other people received bonuses of more than $2 million, and 51 people received bonuses between $1 million and $2 million, Mr. Cuomo said. Eleven of those who received “retention” bonuses of $1 million or more are no longer working at A.I.G., including one who received $4.6 million, he said.
Meanwhile, Josh Marshall has been looking into various claims that failure to pay the bonuses could constitute a "default event" under the ISDA Master Agreement that would trigger AIG's trillion-dollar liabilities immediately. Sounds as if that's not probably not the case, though Geithner may have been fooled. (Or "fooled.")

When are these people going to jail?