Administration Seeks to Restructure AIG Payments

By: Martin Crutsinger AP
By: Martin Crutsinger AP

WASHINGTON (AP) - Insurance giant American International Group has agreed to administration demands to restructure some of its corporate bonuses.

However, the troubled company will still pay out millions of dollars in bonuses after the Treasury Department determined that the government did not have the legal authority to block those payments.

Treasury Secretary Timothy Geithner has demanded that the company scale back future bonus payments where legally possible.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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