Yielding to congressional demands, American International Group Inc. yesterday revealed the U.S. and foreign financial institutions to which it paid taxpayer bailout money, announcing that it now sees that use of such money should be public.
But the company was under intense fire from the Obama administration and Congress today after its Saturday revelation that it was "contractually obligated" to pay out by Sunday $165 million in previously awarded retention bonuses to employees of its troubled financial products unit.
An aide to Rep. Elijah Cummings, D-Md., confirmed that the congressman planned to send a letter to Treasury Secretary Tim Geithner this morning expressing "outrage" over the payments.
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