Tuesday, March 17, 2009 ♥
Outraged Obama vows to block AIG bonuses
WASHINGTON (AFP) - -
President Barack Obama Monday vowed to block multi-million-dollar bonus payouts by bailed-out insurer AIG as he confronted intensifying public anger against Wall Street excess The controversy escalated as New York state Attorney General Andrew Cuomo started to slap subpoenas on American International Group, after the crippled firm ignored a Monday afternoon deadline to divulge details of the bonuses.
Conscious of the potential backlash as his administration readies new support for the financial industry, Obama said the planned bonuses for AIG executives and traders revealed over the weekend were an "outrage."
PrOfaNcY :D @ 2:37 PM