“Every Legal Action”
President Obama announces today that he plans to take every legal action to block AIG bonuses saying,
“Under these circumstances, it’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?”
AIG is giving out 165 Million in Bonuses after accepting 170 Billion in Federal Bailouts? Talk about audacity!
Still, AIG bonuses aren’t like Citibank bailouts- whereas Citibank is being “bailed out” by tax payer money, AIG is receiving money from the Federal Reserve (which technically isn’t tax payer money) an important distinction that might limit what can be done.