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While AIG has tried to characterize the bonuses as "retention" payments, New York attorney general Andrew Cuomo points out in a letter to Barney Frank written today that:
Numerous individuals who received large 'retention' bonuses are no longer at the firm ....You can't pay to retain someone who is already gone.
Eleven of the individuals who received "retention" bonuses of $1 million or more are no longer working at AIG, including one who received $4.6 million ....
Here's Cuomo's letter:
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