NBC New York Interviews David Siegal About Madoff Ramifications and AIG Executive Bonuses

03/19/2009

NBC New York Nightly News quizzed Haynes and Boone partner and former federal prosecuter David Siegal on hot topics in legal news.  Following Bernie Madoff's admission of guilt in a $50 million ponzi scheme, David considered next steps by each side as the continuing saga moves towards sentencing.  He also looked at Congress's actions regarding performance bonuses issued to AIG executives from federal stimulus money, noting that those executives did have binding contracts with their employer.  "If we suddenly start determining that contractual arrangements are no longer enforceable, that really could lead to some level of chaos in the way that people deal with each other in the American capital system," Mr. Siegal said.

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