Obama to block AIG bonuses
Published:Monday | March 16, 2009 | 7:36 PM
US President Barack Obama wants bonus payouts to executives by insurance giant AIG to be blocked, after it was announced on Sunday that the insurance company would be making bonus payouts to executives.
Obama has expressed anger at the U$165 million in bonuses paid to executives of the once struggling company.
It is reported that Obama told Treasury Secretary Timothy Geithner to pursue every legal avenue to block the extra payments.
AIG has received bailouts from the US government totaling U$180 billion since coming close to collapse in 2008.