COMPANIES Barack Obama vowed on Monday to pursue “every single legal avenue” to block $165m in bonus payments by AIG amid mounting anger over the stricken insurance group’s use of federal bail-out funds.
The US president’s remarks came as Andrew Cuomo, New York attorney-general, opened an investigation into the bonuses and threatened AIG with subpoenas to secure the names of employees who received the money. Mr Obama voiced “outrage” that a group dependent on federal funds for survival was topping up salaries at a time when ordinary Americans were struggling to make ends meet.
