I saw earlier tonight that the President blew his stack in regards to AIG and is having the treasury secretary do everything in his power to trying to block the $165 MILLION bonuses that they are planning to hand out with the tax money that we've given them for a bailout! Good for him!
In most cases the amounts of the bonuses are legally fixed, and can therefore not be abolished, not even by the president. However, I would think the people receiving these bonuses should refuse them in shame but I obviously don't think like an greedy exec. AT THE VERY LEAST the bonus recipients should have to get in the back of the line with all the company's other secured creditors.
The government was incredibly stupid for giving AIG all this money without the typical sort of checks one would expect to see in the bankruptcy process.
