Reviewing AIG's Obligations On Bonus PaymentsSteven Thel on NPR - Morning Edition, March 18, 2009
The Obama administration is angry over American International Group's decision to use taxpayer money to pay $165 million in bonuses to employees in its financial products division. That's the same division that designed exotic derivatives partly responsible for AIG's financial collapse, with dire repercussions for the global economy.
The company claimed it was legally obligated to make the payments and would otherwise face lawsuits. Still, the administration says it will pursue every legal option to block the payments.
Host Steve Inskeep talks to Steven Thel, a professor with Fordham Law School in New York, about the payments.