Congress Goes After AIG Bonuses Again

The public outcry about AIG executives receiving more than $160 million in bonuses after being bailed out by the federal government continues. As a result, the House of Representatives is still trying to figure out how to respond. On Wednesday, the House passed another bill that is aimed at preventing excessive and unreasonable bonuses.
The bill, which was sponsored by Rep. Jim Himes of Connecticut and Rep. Alan Drayson of Florida, allows for industry regulators and the U.S. Treasury Secretary to decide whether or not bonuses are excessive or unreasonable. As advised by President Barack Obama, a delicate yet effective means …read more