Cuomo Announces Return of $30 Million in A.I.G. Bonuses

ALBANY—Andrew Cuomo says that he has secured the return over $30 million of the infamous A.I.G. bonuses after “discussions.”

Cuomo puts himself ahead of the U.S. Congress in making the move; Congress has passed a measure that would tax 90 percent of the bonuses, but the legislation will not take effect any time soon. A.I.G. provided Cuomo with the names of bonus recipients last week under the threat of a subpoena.

“I’m trying to get the money back, because I think that’s what the American people demand and deserve,” Cuomo just told reporters on a conference call. “I’m hopeful that more A.I.G. F.P. [financial products] employees will heed the example set by their colleagues and pay the money back.”

Cuomo said that 47 percent of the $165 million paid in bonuses went to people who live in the United States. Of that, he has secured agreements from nine of the top 10, and 15 of the top 20 bonus recipients, to return their money. Of those people, Cuomo said, “I don’t believe there’s a public interest in releasing their name.”

He insistes that should not be taken as a veiled threat to those who haven’t returned bonuses.

Cuomo Announces Return of $30 Million in A.I.G. Bonuses