1. OBAMA IN EFFORT TO UNDO BONUSES GRANTED BY A.I.G.
- Author
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EDMUND L. ANDREWS, JACKIE CALMES; Contributing reporting were Helene Cooper in Washington, Mary Williams Walsh, Michael J. de la Merced, and Louise Story in New York.
- Subjects
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EMPLOYEE bonuses - Abstract
President Obama and his top economic advisers scrambled to calm a nationwide furor on Monday over bonuses paid at the American International Group, even as administration officials acknowledged they had known about the issue for months. One day after the economic advisers insisted that their hands had been tied by contracts requiring the payments, Mr. Obama ordered the Treasury Department to ''pursue every single legal avenue to block these bonuses'' and make the American taxpayers whole. [ABSTRACT FROM PUBLISHER]
- Published
- 2009