NU Online News Service, July 23, 2:45 p.m. EDT
Troubled insurance carrier American International Group has not paid $2.4 million in bonuses to executives after being denied approval from the U.S. Treasury Department, a department nominee said.
In answer to questions posed by Sen. Charles E. Grassley, R-Iowa, ranking member of the Committee on Finance, George Madison, nominated to be general counsel for the Department of Treasury, said he was advised by the department that AIG did not make any of the bonus payments scheduled to be paid on or around July 15.
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