AIG, the insurance giant at the core of the financial meltdown, struck again over the weekend, disclosing that it would use some of its $170 billion in federal bailout money to reward its employees with $165 million in bonuses. And Obama was left looking like a pitiful giant as his aides explained that there was absolutely nothing they could do to stop the obscene payouts -- even though the government owns 80 percent of AIG.
But if the president wants to keep ahead of the public fury, he'll need to do more than share the concerns; he'll need to act on them. Now it's time to deliver.
Well said. He is the president for crying out loud, we the tax payers own most of AIG, if not the whole corpse. We have the power; he has the power if he has the balls to execute it. Nothing less than nationalizing, firing the oh-so-very "Talented" and breaking up the company will suffice. Do you have the balls Obama?
AIG needs to die. They are 13 trillion dollars in debt from credit default swaps; they have acknowledged paying 80 billion of that debt... We simply cannot afford to bring them back to life... the bankers, the insurers, the stockholders, the board of directors have to- must- lose their shirts and shuffle away in disgrace.
They are not talented, there f-students on a drinking binge.
