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We'll Stop AIG Bonuses By Any Legal Means: Obama

Law360 (March 16, 2009, 12:00 AM EDT) -- Facing uproar over American International Group's plan to pay $165 million in bonuses to company executives, President Obama said Monday that Treasury Secretary Timothy Geithner would "pursue every legal avenue" to block the payouts.

“This is a corporation that finds itself in financial distress due to recklessness and greed,” Obama told a group of small business owners on Monday. “Under these circumstances, it's hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. I mean, how do they...
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