Barofsky: US Treasury abdicated responsibility for AIG
The payment of retention bonuses at AIG Financial Products last year was the result of an “abdication of responsibility” by the US Treasury, says Neil Barofsky, the Washington, DC-based special inspector general for the Troubled Assets Relief Program (Sigtarp), in an exclusive interview with Risk.
Asked whether the Treasury’s oversight of AIG’s compensation policies was haphazard, Barofsky replies: “They failed to do it completely from November 2008 to March 2009. I think even haphazard might be
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