The AIG employees who are the subject of so much venom because they have received massive bonuses while their organizatio is being propped up by $170 billion in taxpayer money are not even in the United States. They are in London.
The stricken US insurance firm AIG was battling to defend paying staff bonuses worth hundreds of millions of dollars after Barack Obama described the payouts as an “outrage” and vowed to use every legal avenue to block them.
The company said it was legally obliged to pay traders $165m (£118m) in “guaranteed” bonuses, despite the near collapse of the insurer last September and its subsequent $173bn bailout by US taxpayers. Staff at the company’s offices in London – many of them in the financial products division identified as the root cause of its downfall – are included in the payout.
Meanwhile, New York’s top legal officer, attorney general Andrew Cuomo, said he would issue subpoenas against AIG after the company missed an 8pm deadline tonight to release details of the bonuses.
Cuomo said he was looking into whether the AIG payments were contractually required or could be voided under New York law.
Wrong! Ain’t gonna happen. New York law? Try British law, Mr. Cuomo.
Look, everyone knows that these individuals cannot be touched by the United States because of the mere fact that they are neither resident nor do they work in the United States. Yet everyone is acting like that doesn’t matter. Why?
Pure and simple. The government screwed up…royally and now people are pissed. They want action. So action is what they are getting.
Ultimately, all of this is just for show. In the end, the AIG employees are going to get their money.
Obama says he will try to block ‘outrageous’ $165m bonuses at AIG – Guardian