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Uploaded on Oct 30, 2009
(Oct 14, 2009 C-SPAN ) Neil Barofsky testified about retention bonuses awarded to employees and leaders of financial institutions after the companies had received federal bailout money, as well as oversight by the Treasury Department and Federal Reserve. He said that the $168 million in retention payments to American International Group (AIG) represented a "failure" that occurred when the Treasury Department "outsourced its oversight" to other agencies.
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