Obama Blasts AIG Over Bonuses

17 Mar

President Obama latched on to the latest round of populist anger over corporate greed Monday, ordering his Treasury secretary to "pursue every legal avenue" to stop insurance giant AIG from giving $165 million in bonuses to some of the executives who drove the company into financial ruin before it was rescued by a government bailout.

"How do they justify this outrage to the taxpayers who are keeping the company afloat?" Obama demanded of the company that last month posted the largest corporate quarterly loss in history, $61.7 billion.

Obama’s scolding of American International Group came after his top economic advisers — Treasury Secretary Timothy Geithner, White House chief economist Christina Romer and Larry Summers, director of the National Economic Council — also blasted AIG over its doling out bonus checks ranging from $1,000 to $6.5 million to executives after accepting up to $180 billion in government bailout money.

 

Click to read.

About these ads

One Response to “Obama Blasts AIG Over Bonuses”

  1. Our Insurance March 17, 2009 at 4:22 pm #

    Nice post! Keep it real.I have looked over your blog a few times and I love it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 60 other followers

%d bloggers like this: