[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/US/03/15/AIG.bonuses/art.liddy.afp.gi.jpg caption="In a letter to the White House, AIG Chairman Edward Liddy, shown here in December, vows to curb bonuses."]
Joe Johns | BIO
We've received a couple of documents from AIG about the bonuses.
This first letter is from AIG chairman Edward Liddy, to Treasury Secretary Tim Geithner about the bonuses.
The second letter is not as well-known. It is a so-called "white paper" from AIG explaining, among other things, why it had to pay the bonuses. Its pretty interesting stuff –the white paper explains AIG’s concerns about getting sued for double damages in Connecticut, fears of creating a cross default that allows AIG’s counterparties to back out of deals and more.
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