US president Obama, Congress call for blocking of executive bonuses at AIG insurance company

Wednesday, March 18, 2009 United States President Barack Obama stated Monday that insurance giant AIG is in financial trouble due to “recklessness and greed,” and called for legal action to stop the company from giving out millions of dollars in bonuses to its executives. “It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay,” Obama said. “How do they justify this