Cuomo Scrutinizes Bailed-Out Banks’ 2009 Bonuses

By Liz McKenzie

Law360, New York (January 11, 2010, 5:58 PM ET) -- New York State Attorney General Andrew Cuomo has demanded that the banks who received federal bailout funds, including Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc., provide detailed information about the bonuses they paid to employees and executives in 2009.

As part of his continued probe into the bonuses paid by the eight banks that received monetary relief under the Troubled Asset Relief Program, Cuomo sent letters to the banks seeking “any and all information” concerning their bonus pools and distribution for 2009....
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