Old Project Avalon Forum (ARCHIVE) - View Single Post - Govt. Says Bank of America Threatens to Sue Employee Willing to Talk

Dantheman62 · 03-17-2009, 05:27 AM

NEW YORK (Reuters) – The U.S. government will modify a planned $30 billion capital injection for American International Group Inc to try to recoup hundreds of millions of dollars in controversial bonuses, a Treasury official said on Monday.

The U.S. government's actions came after President Barack Obama expressed "outrage" on Monday over the bonuses to AIG employees, and ordered officials to take all legal measures to block them.

The Treasury Department plans to attach new provisions to the terms of its latest AIG rescue package, announced on March 2, to force repayment of the bonuses, said the official, speaking on condition of anonymity.

Obama said in remarks at the White House he was "choked up with anger" over the executive payments, which is a hot button issue in the deepening recession.

http://news.yahoo.com/s/nm/20090317/ts_nm/us_aig

03-17-2009, 05:27 AM	#21
Dantheman62 Avalon Senior Member Join Date: Sep 2008 Location: So. Cal. U.S. Posts: 4,205	Re: Govt. Says Bank of America Threatens to Sue Employee Willing to Talk NEW YORK (Reuters) – The U.S. government will modify a planned $30 billion capital injection for American International Group Inc to try to recoup hundreds of millions of dollars in controversial bonuses, a Treasury official said on Monday. The U.S. government's actions came after President Barack Obama expressed "outrage" on Monday over the bonuses to AIG employees, and ordered officials to take all legal measures to block them. The Treasury Department plans to attach new provisions to the terms of its latest AIG rescue package, announced on March 2, to force repayment of the bonuses, said the official, speaking on condition of anonymity. Obama said in remarks at the White House he was "choked up with anger" over the executive payments, which is a hot button issue in the deepening recession. http://news.yahoo.com/s/nm/20090317/ts_nm/us_aig Last edited by Dantheman62; 03-17-2009 at 05:29 AM.