President Obama stopped AIG. Now it's time to go after the rest of the banks.

From CREDO:

AIG has some nerve. After the company made reckless decisions that contributed to our economic crisis, and after receiving over $170 billion in bailout funds, AIG still tried to hand out hundreds of millions of dollars in bonuses to its executives.

Seriously? Are they kidding?

Thankfully, President Obama announced that this plan is absolutely unacceptable. On Monday morning, President Obama ordered Treasury Secretary Tim Geithner to take every action in his power — including legal action — to stop AIG from handing out bonuses. This is great news — and we should thank President Obama. But there is still more to do.

We need President Obama to tell all banks receiving taxpayer money that they cannot spend one dime on executive bonuses. If their executives have been doing such a great job, they shouldn't need taxpayer money to keep their companies afloat.

Click here to thank President Obama for doing everything in his power to stop the AIG executive bonuses — and to ask him to stop all executive bonuses for banks that take taxpayer bailouts.

Comments

Ju said…
Looks like Obama sides with AIG, as well as Chris Dodd.

http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/

So populism be damned?