Monday, March 16, 2009

An angry President Obama moves to block AIG bonuses

AIG build in Los Angeles. Photo by Fred Prouser/Reuters   President Barack Obama reacted with “outrage” today to news of the insurance giant, AIG, handing out $165 million in bonuses after receiving $173 billion in government bailout funds. At the White House, the president lashed out at AIG: “This is a corporation that finds itself in financial distress due to recklessness and greed.” […]