News of American International Group’s decision to make good on executive bonus contracts of up to $165 million has been met with negativity, from President Obama and his economic team at the White House to rank and file Republicans calling for AIG to immediately cease such activities.
White House officials said that the administration is not looking to take AIG to court to stop the company from paying out the bonuses. But, reports the New York Times, the President has told Treasury Secretary Timothy Geithner to figure out what the Treasury Department can do to block AIG from making the payments within the legal confines of AIG’s contractual obligations to the executives.
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