The political fallout from the American International Group Inc. rescue widened Wednesday as policymakers, including the president, pointed to excesses at the insurance giant as the basis for sweeping legislation that would have far-reaching effects.

For instance, the House Judiciary Committee passed a bill Wednesday aimed at recovering bonuses paid by AIG to its executives, but it would apply to executives at all companies that have received more than $10 billion in rescue aid, including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., and Wells Fargo & Co.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access