Cuomo Tells AIG "The Party's Over"

Today, Attorney General Andrew Cuomo held a press conference on Wall Street, announcing his investigation of AIG's expenditures since 2007. You can read the letter he sent them here (PDF), but he does call their spending "unwarranted and outrageous" and asks the Board of Directors "to cease and desist any such further expenditures, and review, rescind, and recover all past unreasonable expenditures."

Plus, Cuomo says, "The Board must also immediately institute new protections to prevent future abuses, and provide this Office with an accounting of executive compensation and benefits... Accordingly, the Board should immediately cease and desist these improper and extravagant expenditures which exploit the taxpayers of this Nation." We believe that's a nod to expensive junkets after getting the $85 billion bailout from the feds.

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By Jen Chung in News on October 15, 2008 4:21 PM

Comments [rss]

williambanzai7

A HUNTING THEY (AIG) WILL GO

(A Hunting We Will Go)

WilliamBanzai7

A hunting we will go, taxpayer dough we blow

Heigh ho, the lear jets go , a hunting we will go

A hunting we will go, taxpayer dough we blow

We'll beg for cash and then we'll dash

A hunting we will go

A hunting we will go, its not our cash we blow

Heigh ho, the CDOs, a hunting we will go

A hunting we will go, there's more spent than you'll know

We'll catch a SPA then get out of Dodge

A hunting we will go

A hunting we will go, taxpayers are all just schmoes

Heigh ho, the bailout boat, a hunting we will go

A hunting we will go, we'll lose your money so

We'll catch a bear and cut his hair

And then we'll let him go

A hunting he will go, a hunting he will go

Heigh ho, the merry-o, his name is

Andrew Cuomo

Qraymond

Good for Cuomo-- it sounds like these AIG executives really have contempt for the tax-payers.

nivek

And B.J. Novak from the office on the left

NannyState

#3 wins!

Fritzdecat

I'd love to air out the dirty laundry on the Cuomo clan..you know its there but the clever pricks do a brilliant job of hiding it.

tingo

Haha.

Can't expense that bottle of Patron this weekend!

Splicer

It's Always Sunny On Wall Street

JRod5417

What's Danny Devito doing in there?

amsci

I love the "let me tell u somth'n" body language in this shot.

emilydickinson

Incorrect, this party is just getting started. 'Outrageous Expenses of the Rich' are always a popular scapegoat in tough economic times but are actually a drop in the bucket.