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Cincinnati – While U.S. President Barack Obama tries to claw back bonuses paid to AIG employees, Americans facing pay cuts and job losses are outraged that some refuse to share the pain of the recession.
“It’s not fair,” said Nancy Johns, echoing millions of Americans who watch with disbelief as Washington and Wall Street battle over whether to recover millions in corporate bonuses paid out by firms that received government bailouts.
AIG, an insurance giant that is being kept alive on a taxpayer-funded $180 billion lifeline, is paying out $165 million in bonuses for 2008. It has argued that it is legally obliged to meet employee retention payments.
Ordinary people have trouble understanding that logic.
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