White House, Congress knew AIG was planning to pay bonuses

Wednesday 18th March, 12:30 PM JST

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skipthesong at 07:44 PM JST - 18th March

what the AIG execs should do is return the bonuses voluntarily to demonstrate they, along with much of the rest of America, can make do with less in these hard times"

Would you? With the market looking the way it has been, I sure wouldn't. Besides, its not they stole money. They are getting the cash legally, whether you like it or not. I however, am jealous.
Jeff198524 at 08:47 PM JST - 18th March

AIG deserves the bounus money. The wealthy are society's most productive citizens and shouldn't be punished. The poor would become wealthy too if they just worked harder.
ca1ic0cat at 08:50 PM JST - 18th March

If this was a reward for a job well done it might be reasonable. But these are "retention bonuses" for the same fools who put AIG (and, supposedly, the whole financial system) on the brink of the abyss. They ought to have been sacked, not rewarded.

Yeah, I am very jealous. Most of us could retire in comfort on what these chumps are getting in one bonus. Not only would I like the cash I would love a job where I could screw up completely and still get paid!
jonnyboy at 08:54 PM JST - 18th March

AIG deserves the bounus money. The wealthy are society's most productive citizens and shouldn't be punished. The poor would become wealthy too if they just worked harder.

how would you explain anomalies such as paris hilton, oh wise one? just in what way is someone like her "productive". you need to look up concepts such as nepotism if you truly believe the worlds wealthy deserve to be that way
jonnyboy at 08:56 PM JST - 18th March

you might want to read up about a recent case such as bernard madoff, a fabulously wealthy unproductive criminal
Papawhale at 10:41 PM JST - 18th March

I find it ironic that the same people who are outraged (Obama, Congress) had the chance to put conditions on the bailouts in a bill By Rep. Kucinich last year but refused to do so. Now they whine and moan about it, the idiots.
Badsey at 10:45 PM JST - 18th March

This is sort of like the NY Yankees when they come in last in their division. -->Except with them they would fire damn near everyone. Here they are keeping the losing team on and giving them bonuses.

-Socialism at its' finest.
GJDailleult at 10:48 PM JST - 18th March

Besides, its not they stole money.

Actually, they sold insurance with neither the ability to or the intention to pay the insurance holders if the insured against event happened. They were just gambling that it wouldn't happen. That is fraud, not insurance. They've been stealing the money for years.
sailwind at 10:59 PM JST - 18th March

They've been stealing the money for years.

What are talking about? Stealing then was called business and a freebie now called a bail-out........ These guys are as sharp as you can get.

And we all are stuck with the bill, can I put this crap to help AIG out on my maxed out CREDIT CARD to help the economy?

Seems fair, after all that is the example Obama is setting in his 'change'.
Badsey at 12:43 AM JST - 19th March

I and many others are feeling that it would have been better to just let AIG fail -the banks (that AIG insured) would have had to been bailed out (and have been bailed out) anyways.

-This is a quasi-corrupt company that should not be in business and the SEC needs to start regulating securities/stocks again.

Shameful, but many of these failed policies started in Washington D.C. (which by the way also has the highest % of people with AIDS -they are a health failure also). I don't understand how a capital city can continually underperform.
Betzee at 03:50 AM JST - 19th March

Most of us could retire in comfort on what these chumps are getting in one bonus.

Speak for yourself there, bud, I intend to live high on the hog.
Molenir at 05:38 AM JST - 19th March

This keeps saying that Geithner only learned about these bonuses recently. And yet, he was former Treasury secretary Poulsons aide in the Treasury department, the one responsible for handling the AIG mess. I have a hard time believing that he didn't know about this well in advance. Before Obama even came into office, or he took his new job. Despite what this article claims, its simply unreasonable to assume that the man responsible for AIG from the Treasury wasn't aware of what was happening.
TexasAggie at 07:28 AM JST - 19th March

The situation has the White House ... on the defensive.

We'll be seeing a lot of that during the next four years.
TexasAggie at 07:39 AM JST - 19th March

So, for Obama to act all outraged about something that his own Administration put into the law that Democrats passed and he signed......

Oh, the hypocrisy.
Wolfpack at 10:49 AM JST - 20th March

President Obama's administration worked this whole deal out with the Senate. It was their idea to allow the bonuses and specifically put it in the stimulus bill. The stimulus was rushed through and no one in Congress was given time to read it. Well, if the public found out about the AIG bonuses then it would have caused an unroar. No, Obama is not 'really' outraged. He and his people specifically asked for the bonus provision. This is all an act.