Geithner seeks to recoup AIG bonuses (Dealscape

After enduring a barrage of invective from Capitol Hill, Treasury Secretary Timothy Geithner told the top House lawmaker Tuesday night that the Obama administration is taking steps to recoup $165 million in bonuses paid to employees of American International Group Inc.

In a letter to House Speaker Nancy Pelosi, D-Calif., Geithner said the Treasury will impose on AIG a contractual commitment to reimburse the federal government from company operations for the amount of the bonuses. In addition, the Treasury will deduct the bonus amount from the recent $30 billion in assistance.

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NOT A SUBSCRIBER? Geithner seeks to recoup AIG bonuses Posted on March 18, 2009 3:00 PM After enduring a barrage of invective from Capitol Hill, Treasury Secretary Timothy Geithner told the top House lawmaker Tuesday night that the Obama administration is taking steps to recoup $165 million in bonuses paid to employees of American International Group Inc. In a letter to House Speaker Nancy Pelosi, D-Calif., Geithner said the Treasury will impose on AIG a contractual commitment to reimburse the federal government from company operations for the amount of the bonuses. In addition, the Treasury will deduct the bonus amount from the recent $30 billion in assistance. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 1,179 in-depth reports of PE deals in the Financial Services sector 137 articles related to the TARP 76 articles related to Timothy Geithner 40 company pages related to AIG 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forget your password? Missing a product?

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