Andrew Cuomo

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Paulson Threatened to Oust Lewis, BofA Board

Cuomo wants federal investigation

(Newser) - Bank of America wanted to pull out of its deal with a fast-sinking Merrill Lynch last year but changed course after then-Treasury chief Henry Paulson threatened to oust CEO Ken Lewis and the entire BofA board, the Wall Street Journal reports. The revelation came in a letter to members of...

Spitzer Eyes 2010 Run for AG

(Newser) - Is Client No. 9 getting back into politics? Eliot Spitzer is considering a 2010 bid for his old job as New York’s attorney general, sources tell the New York Post—assuming Andrew Cuomo vacates the post to run for governor. “My record as governor was disappointing,” Spitzer...

Cuomo Charges Madoff Feeder With Fraud

Says 'investment guru' Merkin was really just 'master marketer'

(Newser) - New York AG Andrew Cuomo has charged J. Ezra Merkin, a prominent New York philanthropist who funneled $2.4 billion into Bernie Madoff’s Ponzi scheme, with fraud, the Wall Street Journal reports. The complaint doesn’t accuse Merkin of knowing about the scheme. But it alleges that he lied...

AIG Execs Repaying $50M in Bonuses: Cuomo

(Newser) - New York Attorney General Andrew Cuomo said today that most of the top bonus recipients at AIG have agreed to return the money, amounting to more than $50 million, the Wall Street Journal reports. Fifteen of the top 20 beneficiaries of $165 million at AIG's Financial Products unit—which played...

Cuomo Could Capitalize on Wall St. Crisis

Will he reveal AIG names?

(Newser) - Andrew Cuomo’s political career has hit a crossroads, the New York Times reports. The New York attorney general has found his moment, slinging subpoenas at Wall Street like a populist avenger. He’s forced concessions from the rating agencies and student loan lenders, and pried the names of bonus...

Bank of America Must Name Bonus Execs

Court demands firm spills

(Newser) - This doesn’t bode well for AIG: A judge ruled yesterday that Bank of America must identify the Merrill Lynch executives who received $3.6 billion in bonuses ahead of the banks’ merger, reports the Wall Street Journal. New York Attorney General Andrew Cuomo sought disclosure as part of his...

AIG Bonuses By the Numbers
 AIG Bonuses By the Numbers 
Mar 18, 2009 8:37 AM CDT

AIG Bonuses By the Numbers

NY AG releases breakdown of bonus figures; plans to press AIG for names

(Newser) - AIG's $165 million in bonuses went 418 different ways, according to one angry attorney general. Other figures released by New York Attorney General Andrew Cuomo, who subpoenaed the firm on Monday:
  • 73 employees received bonuses of $1 million or more
  • 11 of those people no longer work for AIG
  • 7
...

73 AIG Execs Got $1M Bonuses: Cuomo
 73 AIG Execs Got 
 $1M Bonuses: Cuomo   
updated
Mar 17, 2009 1:16 PM CDT

73 AIG Execs Got $1M Bonuses: Cuomo

'08 contracts guaranteed full '07 pay: Cuomo

(Newser) - AIG paid bonuses of $1 million or more to each of 73 employees, including 11 who no longer work for the company, said New York Attorney General Andrew Cuomo. He subpoenaed information from AIG yesterday saying he wanted to determine whether the payments constitute fraud under state law. In a...

Merrill Bonus Beneficiaries May Be Revealed Within Week

BoA argues that disclosure will give competitors an unfair advantage

(Newser) - A decision could come next week on disclosure of the names of Merrill Lynch employees who received $3.6 billion in bonuses last year, despite the firm posting a $15.8 billion fourth-quarter loss, Bloomberg reports. Bank of America argued today against release, saying its compensation scheme would be a...

Cuomo Wants to Link Wall St. Pay to Performance

'Heads I win, tails I break even' must stop

(Newser) - New York’s attorney general is teaming with Washington lawmakers to develop a plan to link Wall Street pay to long-term company performance, the Wall Street Journal reports. Details are skimpy, but Andrew Cuomo is looking into spreading cash and stock payments over several years so that if firms do...

Cuomo: Merrill Misled Congress on Bonuses

Bank decided on bonuses earlier than claimed, he says

(Newser) - Andrew Cuomo is turning the screws a little tighter in his investigation of bonuses paid to Merrill Lynch executives. In a court filing today, the New York attorney general accused the bank of "misleading" Congress about when it decided to dole out $3.6 billion, the Wall Street Journal...

Cuomo Subpoenas Merrill's $10M Execs

Payouts may violate securities law

(Newser) - New York Attorney General Andrew Cuomo has subpoenaed top executives of Merrill Lynch who got at least $10 million each last year as the bank floundered, the Wall Street Journal reports. Cuomo is investigating whether the payouts violated securities law and wants to know why executives at Merrill and Bank...

Cuomo Orders BofA to Name Bonus Takers

Subpoena issued after CEO's grilleing by Merrill bonus probe

(Newser) - Bank of America CEO Kenneth Lewis has been ordered to hand over a full list of Merrill Lynch execs who received bonuses just before the bank took over the company, reports Reuters. Lewis was grilled for hours yesterday in the offices of New York AG Andrew Cuomo, who's looking into...

BofA Boss Ordered to Testify in $3.6B Bonus Probe

Massive perks paid out before pricey bailout

(Newser) - Bank of America chairman Kenneth Lewis has been subpoenaed to testify in the investigation into possible deception of investors over the Merrill Lynch takeover, sources tell the Wall Street Journal. New York Attorney General Andrew Cuomo is exploring whether the bank broke the law by failing to inform investors of...

NY AG May Claw Back $4B Merrill Bonuses

Cuomo expands probe into Merrill's handling of pre-takeover handouts

(Newser) - New York Attorney General Andrew Cuomo is considering action ordering the return of $4 billion in early bonuses Merrill Lynch handed out to staff just before its bailout-backed takeover by Bank of America, an insider tells Bloomberg. Cuomo has widened his probe into the bonuses and aims to find out...

Ousted Thain Subpoenaed on Early Merrill Bonuses

NY attorney general also calls BoA exec in probe of banks and TARP funds

(Newser) - New York’s attorney general issued a subpoena today to force John Thain to testify about his acceleration of bonus payments for Merrill Lynch employees last month, the Financial Times reports. A subpoena was also issued to a Bank of America executive thought to have consulted with Thain—then Merrill’...

Paterson's Poll Numbers Tank After Debacle With Caroline

Guv cancels Davos trip to shore up support

(Newser) - New York Gov. David Paterson's poll numbers have hit the toilet as he grapples with a $15.8 billion deficit and reaction to his handling of the Caroline Kennedy Senate decision, reports the New York Daily News. The numbers have so spooked Paterson that he's decided to ditch his trip...

Cuomo's in the Running for Clinton Seat, Paterson Says

Admission is first that AG is even a candidate

(Newser) - Continuing his elusive dance around Hillary Clinton’s Senate seat, New York Gov. David Paterson said yesterday that state Attorney General Andrew Cuomo “is someone I’m considering,” the Buffalo News reports. Paterson also seemed unafraid of a possible Cuomo challenge in 2010 if he isn’t seated...

Paterson 'Certain' to Pick Kennedy: Also-Rans

NY governor playing 'mind games' with media in delaying announcement

(Newser) - Her rivals for Hillary Clinton’s senate seat believe Caroline Kennedy is “certain” to succeed her, sources close to several contenders tell the New York Post. Gov. David Paterson thinks dissing Kennedy at this point would “greatly embarrass” and “entirely humiliate” her and her family—and potentially...

New Yorkers Souring on Sweet Caroline

Sheen comes off Kennedy in new poll

(Newser) - Caroline Kennedy’s botched media blitz seems to be taking a toll on her popularity. Last month, she and state Attorney General Andrew Cuomo were tied with the support of 25% of New Yorkers in their bids to be New York's new senator. Now, a Marist poll has Cuomo at...

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