Geithner: Bank fee to recoup AIG bonuses
WASHINGTON - February 3, 2010 -- FIRST LINETreasury Secretary Tim Geithner says Congress can recoup "outrageous" bonuses for AIG employees through a new bank fee in President Barack Obama's proposed budget.
American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees. Geithner called the bonuses, which were negotiated years ago, an "outrageous failure of policy."
Geithner on Wednesday asked the House Ways and Means Committee to support the new fee as a way of getting the money back. The fee, which would be assessed on certain liabilities of the largest firms in the financial sector, would raise about $90 billion over the next decade.
timothy geithner, inside politics
- Snow walloping Philadelphia area 50 min ago
- Get the 6abc StormTracker app
- School Closings & Delays
- 2013 Troop Greetings
- Up to 50 vehicles in deadly PA Turnpike crash
- Video: Widener U. students help stuck drivers
- Nearly 1 foot fo snow in parts of Delaware
- Eagles beat Lions 34-20 in the snow
- Video: Time lapse of snow at the Linc
- Photos: Images of Sunday's winter storm
- 6abc.com Flight Tracker
- Check local traffic on 6abc.com!
- Man dressed as Santa struck, killed on I-95
- Paul Walker memorial in California draws thousands 30 min ago
- Snow walloping Philadelphia area
50 min ago