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NY Attorney General Asks Banks For Bonus Info

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Oct 29, 2008 3:38 pm US/Eastern

NY Attorney General Asks Banks For Bonus Info

NEW YORK (AP) ― The New York attorney general has asked nine banks that are getting a piece of the Wall Street bailout to turn over information about how they are spending money on executive bonuses.

Andrew Cuomo said Wednesday that the bailout has essentially made taxpayers shareholders in these companies, and they have a duty to be upfront with the public about huge bonuses.

The request followed an Associated Press report last week that found that the nation's biggest banks are preparing to pay their workers as much as last year or more, including bonuses tied to personal and company performance.

Cuomo's office is among several agencies that are investigating banks about their role in the Wall Street meltdown.

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