President Obama: AIG Can't Justify Exec Bonuses

By: Associated Press
By: Associated Press

President Barack Obama says he'll try to stop a bailed-out company from paying out millions in executive bonuses.

He says that the insurance giant American International Group is in financial straits because of "recklessness and greed." And President Obama says it's hard to understand how the executives deserved any extra pay, much less $165 million.

AIG has received more than $170 billion in federal rescue money.

AIG recently reported losses of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history.

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  • by T Location: COLORADO on Mar 16, 2009 at 01:16 PM
    if the company lost 61.7 billion in the fourth quarter how can they justify giving out a bonus to a failing company. A bonus is based on a profit not loss. They should give back every penny the government gave them for being so reckless with the peoples money. The company big wigs at AIG should all be fired!
  • by disgusted Location: co spr on Mar 16, 2009 at 12:02 PM
    very good, how come we cant do the same to congress? who are irresponsible and spend millions of tax payer dollars on their indulgences while doing nothing in return that is good, they all want pork and earmarks and can raise their annual pay without question and justification while they hardly have voted to increase minimum wage in 20 yrs they fly around in jets with their families and buddies around the world on tax dollars and SPeaker Pelosi wants a gulfstream!!! lets be fair and balanced on all sides and call it on all fronts the way it is... RHETORIC RHETORIC
  • by TK Location: Colorado Springs on Mar 16, 2009 at 11:35 AM
    I beleive that the government should not have control of how companies are run but if company gets money from the government I hope AIG exec's are made an example of. What really needs to happen is that the American people need to revolt and go after AIG execs, good old fashioned angry mob style. Something really needs to be done with most exec's running a company these days.
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