Congressional leaders threatened emergency legislation on Tuesday to claw back $165m of bonuses paid by AIG as the insurance group’s chief executive prepared for a grilling on Capitol Hill on Wednesday. Edward Liddy, who was appointed to run AIG after its September bail-out, is expected to face fierce questioning amid growing outcry over the group’s use of taxpayer funds. Outrage was fuelled by new revelations that at least 73 employees of AIG’s loss-making Financial Products subsidiary received bonuses of $1m last week. See FT Alphaville on the ‘derailing of shareholder culture’.

This entry was posted by Gwen Robinson on Wednesday, March 18th, 2009 at 5:11 and is filed under Capital markets, People. Tagged with aig. Edit this entry.