Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON–Treasury Secretary Tim Geithner said late yesterday that his agency is working with the Department of Justice to determine “what avenues” can be used to recoup taxpayer dollars used to pay bonuses to executives of American International Group’s troubled Financial Products unit.

He also said that, in order to ensure taxpayers are compensated for any monies “we cannot recover,” the government will impose on AIG a contractual commitment to pay the Treasury from the operations of the company the amount of the [$165 million] retention awards just paid.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.