BUSINESS
11/29/2008 05:12 am ET | Updated May 25, 2011

Cuomo Investigates Bailout Bonuses At Banking Companies

The New York attorney general has expanded his investigation of bonus payments to Wall Street executives whose banking companies are receiving $125 billion in support from the federal government.

In a letter sent on Wednesday to the nine financial institutions receiving government aid, the attorney general, Andrew M. Cuomo, asked for "a detailed accounting regarding your expected payments to top management in the upcoming bonus season."

The letter also raised the prospect of a lawsuit relying on a New York law that, Mr. Cuomo has said, permits the recovery of payments worth more than the services provided by executives.

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