WASHINGTON – President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of "recklessness and greed" and said he intends to stop it from paying out millions in executive bonuses."
It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay," Obama said at the outset of an appearance to announce help for small businesses hurt by the deep recession."
How do they justify this outrage to the taxpayers who are keeping the company afloat," the president said.
The AIG executives have given you their justificiation, Mr. President. The relevant question is how do you justify not firing their asses, given that your administration now controls an 80% share of AIG purchased with our tax dollars?