Reply #50: Treasury to rework AIG aid to recoup bonuses

[UpInArms]

Source: Reuters

NEW YORK (Reuters) - President Barack Obama said on Monday that American International Group Inc's payment of $165 million in bonuses is an "outrage" and ordered the treasury secretary to take all legal measures to block them.

Meanwhile, New York's top legal officer threatened to issue subpoenas to get details of the bonuses.

AIG paid the bonuses to AIG employees on Sunday, the same day that the company disclosed for the first time a list of U.S. and European banks that have been paid some $90 billion.

Obama said in remarks at the White House he was "choked up with anger" over the executive payments, which is a hot button issue in the deepening recession.

"Under these circumstances, it's hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay," Obama said. "How do they justify this outrage to the taxpayers who are keeping the company afloat?"

Read more: http://www.reuters.com/article/newsOne/idUSTRE52F60220090316?sp=true

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now I want more than money - I want them in prison