President Obama exploring legal options over AIG bonuses - Spokane, North Idaho News & Weather KHQ.com

President Obama exploring legal options over AIG bonuses

WASHINGTON. - President Obama says he's opposed to multi-million dollar bailouts being handed out at troubled insurance giant AIG and has exploring the government's legal options to stop them.

"How do they justify this outrage to the taxpayers who are keeping the company afloat?" the President asked during an afternoon appearance.

The CEO at AIG says the company is legally obligated to pay executives $165-million in bonuses, but some in Congress say maybe this should be their last paycheck.

"Maybe it's time to fire some people," suggested Massachusetts Congressman Barney Frank. "We can't keep them from getting their bonuses, but we can keep some of them from continuing in their jobs"

AIG is by far the biggest bailout recipient.

The company has taken $173-billion in taxpayer money so far.

Critics say some of the money is now going to those responsible for the mess.

"These bonuses are going to people who screwed this thing up enormously, who made terrible decisions," Frank said.

AIG lost $61.7 billion in the last quarter, the largest corporate loss in history.

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