Ala. reps not happy with AIG bonuses - WSFA.com Montgomery Alabama news.

Ala. reps not happy with AIG bonuses

In a city where Republicans and Democrats find difficulty agreeing on anything, the two sides have found common ground: criticizing the huge bonuses now being doled out by government- rescued AIG.

President Obama said Monday he's opposed to multi-million dollar bailouts being handed out at troubled insurance giant AIG and has exploring the government's legal options to stop them.

"How do they justify this outrage to the taxpayers who are keeping the company afloat?" the President asked during an afternoon appearance. 

The CEO at AIG says the company is legally obligated to pay executives $165-million in bonuses, but some in Congress say maybe this should be their last paycheck.

Alabama's senior senator, Richard Shelby (R) took to the morning news show "Good Morning America" to show his displeasure with the latest actions at AIG. "A lot of these people should be fired, not awarded bonuses," he said.

"It's a slap in the face to American taxpayers," said Congressman Bobby Bright. "This cannot happen in the future."

"Maybe it's time to fire some people," agreed Massachusetts Congressman Barney Frank.  "We can't keep them from getting their bonuses, but we can keep some of them from continuing in their jobs"

AIG is by far the biggest bailout recipient. The company has taken $173-billion in taxpayer money so far.

Critics say some of the money is now going to those responsible for the mess.

"These bonuses are going to people who screwed this thing up enormously, who made terrible decisions," Frank said.

AIG lost $61.7-billion in the last quarter, the largest corporate loss in history.

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