Word out of New York reveals an ever-growing scandal behind the doors of beleaguered insurance giant AIG.
After subpoenaing the company on Monday, New York Attorney General Andrew Cuomo acquired information detailing how 73 AIG employees received bonuses of $1 million or more - 11 of which no longer work for the outfit.
The next task for Cuomo falls on uncovering the names of the 11 former employees so that more details can be made known about when they left the company and how they received the outlandish bonuses.
Specifically, the former employees worked under the AIG Financial Products subsidiary, a sector of the company whose performance Cuomo described as having "led to crushing losses and the near failure of AIG" in his letter to the House Financial Services Committee.
Additionally, Cuomo is trying to challenge the provisions in employees' contracts that locked in 100 percent of 2007's bonuses for 2008 - even when there were signs of economic turmoil to consider.
What impresses the Editorial Board the most is the fast turnaround from Monday to Tuesday in which Cuomo was able to gather significant details addressing what exactly has been going on at AIG.
Cuomo's efforts in providing transparency for the general public with regard to the sheer mayhem surrounding AIG must be commended by President Barack Obama.
As he suits up for a potential matchup in 2010 against Gov. David Paterson, Cuomo's role as America's watchdog will only serve to help him earn greater support from the masses.
