President Barack Obama brandishes a smile capable of illuminating any room. But this morning he was in no mood for flashing it, as he expressed outrage over the bonuses doled out to the top executives of the government’s top welfare recipient — better known as insurance giant AIG. Already on the hook for $180 billion dollars of taxpayer money, the company had the audacity to pay out $165 million in company bonuses. President Obama was so outraged by the arrogant and tasteless development that he took a drastic measure and ordered his treasury secretary to legally block the funds if possible.
In a statement delivered earlier today at the White House, Obama voiced his extreme displeasure. “This is a corporation that finds itself in financial distress due to recklessness and greed,” he said. “Under these circumstances, it’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?”
The president also wanted to make clear to the American people that he continues to have their best interests at heart. “I want everybody to be clear that Secretary Geithner’s been on the case,” he explained. “He’s working to resolve this matter with the new CEO, Edward Liddy — who by the way, everybody needs to understand — came on board after the contracts that led to these bonuses were agreed to last year.”
It remains to be seen how this situation will play out, but at least President Obama is taking a forceful stand on behalf of the American people. –dewayne rogers
