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Penalties Urged For AIG's Post-Bailout Bonuses

Law360 (March 17, 2009, 12:00 AM EDT) -- As details begin to emerge about floundering insurance giant American International Group Inc.'s $165 million bonus payout last week, lawmakers are considering measures to penalize AIG and uncover more information about how the company might have misused its $170 billion federal bailout.

Representative Brad Sherman, D-Calif., said at a hearing in the U.S. House of Representatives on Tuesday that he wants Congress to consider a bill that would levy what he called a “substantial surtax on excessive compensation paid to executives at bailed-out firms, especially AIG,”...
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