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AIG's 'bonus from bailout money' angers Obama

March 17, 2009

Any person who is subject to these bonuses would have to and should think long and hard about whether, given the performance of the company, this is either warranted or appropriate, Gibbs observed.

The House of Representative Speaker, Nancy Pelosi, in a statement said AIG has turned on its head the basic principle that bonuses and retention payments are rewards for outstanding performance.

Pelosi said AIG executives should voluntarily forgo their excessive retention payments. "But if they refuse, the US Treasury should use whatever tools at its disposal to make AIG repay taxpayers," she said.

Image: AIG chief executive Edward Liddy. Woody Wu/Reuters