CORPORATE EXCESS

AIG's London Holdouts

Execs responsible for crisis not returning bonuses.

Move over Andrew Cuomo—Connecticut attorney general Richard Blumenthal is on the case. The London branch of AIG is responsible for what The Times of London calls "a large portion of the insurer's spectacular losses," but London executives are reportedly among those who are holding out against returning their bonuses. Blumenthal appears to be using the risk of public disclosure to out the recalcitrant executives—he's weighing the security risk of disclosing the names of the 14 executives, although his office has told reporters that the executives will testify at a hearing in Hartford tomorrow. A memo sent by an AIG executives and published by The Wall Street Journal last night said that if employees gave back bonuses, they would not be publicly identified.