As a follow-up to this Wednesday story (Connecticut Appalled at AIG Bonuses), we noted that both Republicans (Governor Jodi Rell) and Democrats (AG Richard Blumenthal) were threatening to take action against AIG, based on the Wilton, CT location of a financial branch.
Apparently, there's some follow-through on that.
Connecticut's consumer protection division has subpoenaed insurance giant AIG, seeking the contracts and names of employees who received the $165 million in retention bonuses.
Commissioner Jerry Farrell Jr. demanded that the documents be provided by March 27.
Gov. M. Jodi Rell has said she wants Farrell to determine if the controversial bonuses can be voided under the Connecticut Unfair Trade Practices Act. The law prohibits "unfair methods of competition and unfair or deceptive acts or practices in the conduct of any trade or commerce."
That's on the R side.
On the D side:
American International Group Inc. was subpoenaed by Connecticut for information on bonus recipients, the amounts and contracts.
Connecticut Attorney General Richard Blumenthal said in a statement that he will "take steps to enforce" the subpoena issued today by the state’s Department of Consumer Protection if AIG doesn’t promptly provide the information.
Not to worry. There seems to be enough outrage to go around:
Attorney General Andrew M. Cuomo of New York said Thursday afternoon that the American International Group had given him a list of the employees in its financial products division who had received $165 million in retention bonuses.
Update [2009-3-20 11:40:54 by DemFromCT]: And 19 other states...