NU Online News Service, Oct. 14, 10:01 a.m. EDT

Treasury officials could have avoided the explosive controversy over American International Group bonuses if they had carefully examined the company's compensation system, government investigators reported.

The finding of a Treasury "failure" came in a report by the Office of the Special Inspector General for the Troubled Asset Relief Program, which found that instead of exercising oversight, Treasury deferred to the Federal Reserve with which it had "limited communications."

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