In response to public anger, President Obama blasted insurance mogel American International Group for “recklessness and greed” Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in federal bailout money.
“How do they justify this outrage to the taxpayers who are keeping the company afloat?” Obama asked. “This isn’t just a matter of dollars and cents. It’s about our fundamental values.”
Obama continues to try to bolster public confidence in his administration’s handling of the broader economic rescue effort.
