Amid mounting anger over bailed-out American International Group's move to give its employees $165m in bonuses, the Obama administration has pledged to force the insurance company to pay the money back.
Timothy Geithner, the treasury secretary, said on Tuesday that AIG would have to promise to reimburse taxpayers as a condition for receiving a further $30bn of bailout money from the government.
"We will impose on AIG a contractual commitment to pay the treasury from the operations of the company the amount of the retention awards just paid," Geithner said in a letter to congressional leaders.
US vows to recover AIG money
Amid mounting anger over bailed-out American International Group's move to give its employees $165m in bonuses, the Obama administration has pledged to force the insurance company to pay the money back.
Timothy Geithner, the treasury secretary, said on Tuesday that AIG would have to promise to reimburse taxpayers as a condition for receiving a further $30bn of bailout money from the government.
"We will impose on AIG a contractual commitment to pay the treasury from the operations of the company the amount of the retention awards just paid," Geithner said in a letter to congressional leaders.
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