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CNBC TRANSCRIPT: CNBC'S MARIA BARTIROMO INTERVIEWS NEW YORK STATE ATTORNEY GENERAL ANDREW CUOMO TODAY ON "CLOSING BELL WITH MARIA BARTIROMO"

WHEN: TODAY, MARCH 16TH AT 4:45PM ET

WHERE: CNBC'S "CLOSING BELL WITH MARIA BARTIROMO"

Following is the unofficial transcript of a CNBC interview with New York State Attorney General Andrew Cuomo today on "Closing Bell with Maria Bartiromo."

All references must be sourced to CNBC's "Closing Bell with Maria Bartiromo."

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BARTIROMO: WELCOME BACK AIG BONUSES HAS ONCE AGAIN PUT THE COMPANY ON THE HOT SEAT AFTER TAXPAYERS HAVE BAILED OUT THE COMPANY 4 TIMES TO THE TUNE OF $170 BILLION DOLLARS NY ATTORNEY GENERAL ANDREW CUOMO IS DEMANDING NAMES OF THE RECIPIENTS OF THOSE BONUSES NOW ISSUING SUBPOENAS FOR THIS INFORMATION HE WILL JOIN ME NOW ON THE TELEPHONE. ATTORNEY GENERAL CUOMO GOOD TO HAVE YOU ON THE PROGRAM THANKS FOR JOINING US.

CUOMO: MY PLEASURE MARIA

BARTIROMO: WHAT CAN YOU POSSIBLY DO TO GET THE NAMES AND DO GET THAT MONEY BACK WE KNOW THAT THERE IS PUBLIC OUTRAGE OVER THIS.

CUOMO: LOOK AND BY THE WAY THERE SHOULD BE WE REQUESTED OF AIG THIS MORNING THAT THEY PROVIDE US WITH THE INFORMATION WE GAVE THEM UNTIL 4PM AND 4PM HAS COME AND GONE THEY HAVEN'T PROVIDED THE INFORMATION AND WE ARE GOING TO BE ISSUING SUBPOENAS AS WE SPEAK FOR THE INFORMATION I WANT THE CONTRACTS I WANT THE NAMES I WANT THE AMOUNTS I WANT THE CIRCUMSTANCES BECAUSE AS YOU SAID THIS IS TAXPAYER MONEY ITS TARP MONEY AND TAXPAYERS ARE ENTITLED TO ACCOUNTABILITY TRANSPARENCY AND DISCLOSURE AND WE WANT TO KNOW THE FACTS AND CIRCUMSTANCES.

BARTIROMO: BUT ONCE YOU GET THE NAMES THEN WHAT CAN YOU DO REALLY RIGHT OK SO YOU HAVE THE NAMES AND THOSE PEOPLE HAVING AN X ON THEIR BACK THEY ARE THE ONES WHO GOT THE MONEY BUT WHAT CAN YOU DO TO ACTUALLY GET THE MONEY BACK

CUOMO: WELL FIRST MARIA YOU NEED TO SEE THE CONTRACTS TO UNDERSTAND THE TERMS AND CONDITIONS OF THE PAYMENTS AND I UNDERSTAND THAT THEY HAD A CONTRACT AND THAT'S WHAT AIG SAID THAT'S CONSTRUCTIVE BUT THAT'S NOT DETERMINATIVE RIGHT YOU CAN HAVE A CONTRACT AND THEN YOU CAN SAY BY THE WAY AFTER YOU SIGN THE CONTRACT THE COMPANY BASICALLY WENT BANKRUPT IF IT WASN'T FOR THE GOVERNMENT COMING IN IT WOULD HAVE BEEN BANKRUPT THE CONTRACT WOULDN'T HAVE BEEN WORTH THE PAPER IT WAS WRITTEN ON YOU CAN RENEGOTIATE A CONTRACT SO WE HAVE TO UNDERSTAND WHY AIG FELT COMPELLED TO DO THIS. AND WE ALSO WANT THE FACTS AND THE CIRCUMSTANCES AND WE WANT TO MAKE THE POINT THAT AIG HAS AN OBLIGATION TO DISCLOSE WHO THEY PAID WHAT WITH TAX DOLLARS AND TO THE EXTENT OTHER INSTITUTIONS ARE WATCHING I THINK IT IS IMPORTANT POINT NOBODY WANTS TO MICROMANAGE ANYTHING BUT TAXPAYERS HAVE A RIGHT TO GET THE FACTS

BARTIROMO: WE KNOW THAT A BIG BULK OF THE MONEY THAT WAS GIVEN TO AIG HAS GONE TO COUNTERPARTIES SO WE ARE TRYING TO SAVE GOLDMAN SACHS MERRILL LYNCH THE OTHER FIRMS THAT HAVE RECEIVED THE MONEY BECAUSE THEY'RE COUNTERPARTS TO AIG WHY CAN'T WE JUST STOP GIVING AIG MONEY AND ALLOW IT TO GO BANKRUPT

CUOMO: WELL YOU KNOW MARIA THE ARGUMENT HAS BEEN MADE AND ITS PEOPLE THAT GET PAID MORE THAN I DO THAT AIG IS IMPORTANT TO QUOTE ON QUOTE SAVE FOR THE NATIONAL ECONOMY IF NOT THE INTERNATIONAL ECONOMY AND I AM NOT GOING TO DEBATE THAT PREMISE NOW I AM FOCUSING ON THE BONUS THE USE OF TAXPAYER DOLLARS WE STARTED AS YOU RECALL CAUSE YOU COVERED IT EXTRAORDINARY WELL BACK IN OCTOBER AIG HOW THEY WERE USING THE FIRST ROUND OF BAILOUT MONEY WITH BONUSES AND FOR CONFERENCES AND TRIPS PHEASANT HUNTING TO EUROPE SO MY CONCERN HAS ALWAYS BEEN THAT THE TAXPAYER DOLLARS GET RESPECTED AND THERE'S THIS QUOTE DISCLOSURE AND TRANSPARENCY.

BARTIROMO: UNBELIEVABLE LET ME PUT UP A GRAPHIC OF WHAT ED LIDDY THE CEO OF AIG IS SAYING IN RESPONSE TO PRESIDENT OBAMA AND YOUR REQUEST FOR INFORMATION HERE HE SAYS "WE CANNOT ATTRACT AND RETAIN THE BEST AND BRIGHTEST TALENT TO LEAD AND STAFF THE AIG BUSINESSES....IF EMPLOYEES BELIEVE THAT THEY COMPENSATION IS SUBJECT TO CONTINUED & ARBITRARY ADJUSTMENT BY THE US TREASURY." NOW I DON'T KNOW WHERE THESE PEOPLE ARE GOING WHEN WE'VE GOT A JOBS WHERE WE SAW 4.4 MILLIONS JOBS CUT SINCE THE BEGINNING OF THE RECESSION BUT HE'S SAYING HE CAN'T RETAIN TALENT

CUOMO: MARIA THESE WERE PEOPLE WHO WERE IN THE FINANCIAL PRODUCT DIVISION WHICH IS THE DIVISION THAT CAUSED AIG ALL THE TROUBLE RIGHT AIG BEST CASE IS IT WAS ONLY THIS ONE DIVISION THAT MADE THE TROUBLE FINANCIAL PRODUCTS DIVISION THESE ARE EMPLOYEES OF THE FINANCIAL PRODUCTS DIVISION

BARTIROMO: UNBELIEVABLE

CUOMO: AND YOU KNOW WE NEED A DOSE OF REALITY HERE PERFORMANCE BONUSES RETENTION BONUSES FOR AIG SENIOR OFFICIALS YOU KNOW SOME PEOPLE OUT THERE MIGHT BE OUTRAGEOUS AND SAY I DON'T KNOW THAT THE AIG EMPLOYEES SENIOR EMPLOYEES ARE ENTITLED TO PERFORMANCE BONUSES AFTER THEIR PERFORMANCE. I DON'T KNOW THAT WE SHOULD BE RETAINING THE SENIOR EMPLOYEES THAT BROUGHT AIG TO THIS POSITION JUST A THOUGHT

BARTIROMO: YEAH SO ARE YOU SAYING THAT IF YOU WERE TO LEARN THAT SOME OF THE PEOPLE THAT WERE TAKING THE BONUSES WERE IN THE INSURANCE BUSINESSES THE BUSINESS THAT WE UNDERSTAND TO HAVE HELP UP WELL AND WAS A STRONG BUSINESS BEFORE ALL OF THIS HAPPENED THAT THEY WOULD BE ALLOWED TO KEEP THE BONUS AND YOU WOULD JUST TARGET THE FINANCIAL PRODUCTS DIVISION OR WHAT I KNOW YOU WANT THE INFORMATION RIGHT NOW BUT WOULD YOU BE PREPARED THAT THE PEOPLE THAT WORKED IN THE STRONGER DIVISION KEEP THEIR MONEY.

CUOMO: I THINK MARIA MR. LIDDY'S POINT MIGHT BE MORE VALID IN THAT CONTEXT IF HE SAID LOOK THESE EMPLOYEES WERE IN A DIVISION THAT WAS MAKING MONEY BUT FOR THE FINANCIAL PRODUCTS BUT THAT'S NOT THE FACTS HERE THE FACTS HERE ARE THESE ARE EMPLOYEES OF THE FINANCIAL PRODUCTS DIVISION THESE WERE THE DERIVATIVE EMPLOYEES WHO SOLD THE PRODUCTS THAT WOUND UP CAUSING THE PROBLEM WITH THAT DIVISION SO SOMETIMES YOU JUST DON'T GET IT I JUST DON'T GET IT.

BARTIROMO: ALL RIGHT YOU GAVE THEM A 4PM DEADLINE SUBPOENAS WHERE DOES IT STAND NOW WHAT SHOULD WE BE WAITING FOR IN TERMS OF THE NEXT STEP TO LEARN MORE

CUOMO: WE ARE GOING TO WE'VE ISSUED THE SUBPOENAS AS WE SPEAK THEY ARE GOING OUT THE DOOR AIG WILL NOW HAVE THE CHOICE OF HONORING AND RESPECTING THE SUBPOENA OR WILL BE FORCED TO COMPEL PRODUCTION PURSUANT TO THE SUBPOENAS IN EITHER CASE WE ARE READY TO DO THAT AND THAT WILL BE TOMORROW AND THE NEXT DAY

BARTIROMO: ALL RIGHT WE WILL LEAVE IT THERE. ALWAYS GREAT TO HAVE YOU ON THE PROGRAM.





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