Andrew Cuomo

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TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

(Newser) - The financial crisis and government bailouts did little to change Wall Street’s executive compensation habits, New York's attorney general says. All nine banks given assistance by TARP paid out bonuses in 2008—well before any paid back government loans, according to a survey ordered by Andrew Cuomo. Goldman Sachs,...

NY AG Slaps Schwab With Suit Over Defrauding Clients

(Newser) - The New York attorney general has told Charles Schwab he will sue the brokerage for civil fraud over its marketing of securities to clients, reports the Wall Street Journal. Andrew Cuomo alleges that Schwab's brokers had little understanding of the financial instruments and then failed to inform clients that the...

Rattner May Have Quit Over Pay-to-Play Settlement

New York AG targets ex-car czar's company

(Newser) - Washington is dying to know why Steven Rattner quit after just months as President Obama’s car czar. One possible reason: New York Attorney General Andrew Cuomo is pushing for a legal settlement with his company for its part in a pay-to-play scandal surrounding the state’s pension fund, sources...

Giuliani 'Thinking About' 2010 Run for NY Gov

(Newser) - Rudy Giuliani today got one step closer to maybe announcing a run for New York governor in 2010, the Daily News reports. The former NYC mayor and Republican presidential candidate explained his position to CNN. “I’m thinking about it,” he said. “I don’t know if...

Madoff Money Man Steps Down
 Madoff Money Man Steps Down 
May 19, 2009 10:45 AM CDT

Madoff Money Man Steps Down

Cuomo pushes Merkin out

(Newser) - Thanks to some strong arming from Andrew Cuomo, financier J. Ezra Merkin is stepping down as manager of his hedge fund and placing it into receivership, the Wall Street Journal reports. Cuomo charged Merkin in a civil fraud complaint last month, saying he “betrayed hundreds of investors,” by...

Carlyle to Pay $20M to Settle Pension Probe

Private equity firm adopts ethics rules to end Cuomo inquiry

(Newser) - The Carlyle Group will pay a $20 million settlement and adopt strict new ethics rules to appease New York Attorney General Andrew Cuomo, the Wall Street Journal reports. Cuomo had threatened to bring charges against the group or its employees as part of his pay-to-play probe into New York’s...

Texas Firm Charged in Kickback Case

Pension 'pay to play' scheme had tentacles in many states: Cuomo

(Newser) - New York Attorney General Andrew Cuomo and the SEC brought criminal charges yesterday against Saul Meyer, founder of Aldus Equity Partners, saying the firm had been involved in a “pay to play” scheme to manage part of New York’s pension scheme. And that’s just the tip of...

Paulson Threatened to Oust Lewis, BofA Board

Cuomo wants federal investigation

(Newser) - Bank of America wanted to pull out of its deal with a fast-sinking Merrill Lynch last year but changed course after then-Treasury chief Henry Paulson threatened to oust CEO Ken Lewis and the entire BofA board, the Wall Street Journal reports. The revelation came in a letter to members of...

Spitzer Eyes 2010 Run for AG

(Newser) - Is Client No. 9 getting back into politics? Eliot Spitzer is considering a 2010 bid for his old job as New York’s attorney general, sources tell the New York Post—assuming Andrew Cuomo vacates the post to run for governor. “My record as governor was disappointing,” Spitzer...

Cuomo Charges Madoff Feeder With Fraud

Says 'investment guru' Merkin was really just 'master marketer'

(Newser) - New York AG Andrew Cuomo has charged J. Ezra Merkin, a prominent New York philanthropist who funneled $2.4 billion into Bernie Madoff’s Ponzi scheme, with fraud, the Wall Street Journal reports. The complaint doesn’t accuse Merkin of knowing about the scheme. But it alleges that he lied...

AIG Execs Repaying $50M in Bonuses: Cuomo

(Newser) - New York Attorney General Andrew Cuomo said today that most of the top bonus recipients at AIG have agreed to return the money, amounting to more than $50 million, the Wall Street Journal reports. Fifteen of the top 20 beneficiaries of $165 million at AIG's Financial Products unit—which played...

Cuomo Could Capitalize on Wall St. Crisis

Will he reveal AIG names?

(Newser) - Andrew Cuomo’s political career has hit a crossroads, the New York Times reports. The New York attorney general has found his moment, slinging subpoenas at Wall Street like a populist avenger. He’s forced concessions from the rating agencies and student loan lenders, and pried the names of bonus...

Bank of America Must Name Bonus Execs

Court demands firm spills

(Newser) - This doesn’t bode well for AIG: A judge ruled yesterday that Bank of America must identify the Merrill Lynch executives who received $3.6 billion in bonuses ahead of the banks’ merger, reports the Wall Street Journal. New York Attorney General Andrew Cuomo sought disclosure as part of his...

AIG Bonuses By the Numbers
 AIG Bonuses By the Numbers 
Mar 18, 2009 8:37 AM CDT

AIG Bonuses By the Numbers

NY AG releases breakdown of bonus figures; plans to press AIG for names

(Newser) - AIG's $165 million in bonuses went 418 different ways, according to one angry attorney general. Other figures released by New York Attorney General Andrew Cuomo, who subpoenaed the firm on Monday:
  • 73 employees received bonuses of $1 million or more
  • 11 of those people no longer work for AIG
  • 7
...

73 AIG Execs Got $1M Bonuses: Cuomo
 73 AIG Execs Got 
 $1M Bonuses: Cuomo   
updated
Mar 17, 2009 1:16 PM CDT

73 AIG Execs Got $1M Bonuses: Cuomo

'08 contracts guaranteed full '07 pay: Cuomo

(Newser) - AIG paid bonuses of $1 million or more to each of 73 employees, including 11 who no longer work for the company, said New York Attorney General Andrew Cuomo. He subpoenaed information from AIG yesterday saying he wanted to determine whether the payments constitute fraud under state law. In a...

Merrill Bonus Beneficiaries May Be Revealed Within Week

BoA argues that disclosure will give competitors an unfair advantage

(Newser) - A decision could come next week on disclosure of the names of Merrill Lynch employees who received $3.6 billion in bonuses last year, despite the firm posting a $15.8 billion fourth-quarter loss, Bloomberg reports. Bank of America argued today against release, saying its compensation scheme would be a...

Cuomo Wants to Link Wall St. Pay to Performance

'Heads I win, tails I break even' must stop

(Newser) - New York’s attorney general is teaming with Washington lawmakers to develop a plan to link Wall Street pay to long-term company performance, the Wall Street Journal reports. Details are skimpy, but Andrew Cuomo is looking into spreading cash and stock payments over several years so that if firms do...

Cuomo: Merrill Misled Congress on Bonuses

Bank decided on bonuses earlier than claimed, he says

(Newser) - Andrew Cuomo is turning the screws a little tighter in his investigation of bonuses paid to Merrill Lynch executives. In a court filing today, the New York attorney general accused the bank of "misleading" Congress about when it decided to dole out $3.6 billion, the Wall Street Journal...

Cuomo Subpoenas Merrill's $10M Execs

Payouts may violate securities law

(Newser) - New York Attorney General Andrew Cuomo has subpoenaed top executives of Merrill Lynch who got at least $10 million each last year as the bank floundered, the Wall Street Journal reports. Cuomo is investigating whether the payouts violated securities law and wants to know why executives at Merrill and Bank...

Cuomo Orders BofA to Name Bonus Takers

Subpoena issued after CEO's grilleing by Merrill bonus probe

(Newser) - Bank of America CEO Kenneth Lewis has been ordered to hand over a full list of Merrill Lynch execs who received bonuses just before the bank took over the company, reports Reuters. Lewis was grilled for hours yesterday in the offices of New York AG Andrew Cuomo, who's looking into...

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