CREW Files Treasury Dept. FOIA Over AIG’s Use of Bailout Money for Executive Bonuses
Washington, D.C. - Today, Citizens for Responsibility and Ethics in Washington (CREW) filed a Freedom of Information Act (FOIA) request with the Department of the Treasury, seeking documents related to AIG's payment of bonuses to its top executives. CREW also sought expedition of its request based on the growing public concern over the government's expenditure of billions of dollars to bail out troubled financial institutions, including AIG, and the question of whether the Treasury had advance notice that AIG intended to go forward with bonuses despite the company's current financial condition. Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, has called the bonuses "wholly unjustified."