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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.