Stand by for Congressional Democrats who voted to protect the continued payment of the bonuses, as well as President Obama who signed the legislation protecting the bonuses, expressing absolute outrage that AIG would, er, pay out the contractual bonuses.
WASHINGTON (Reuters) – American International Group <AIG.N> is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives, after an earlier round of payments set off a national furor, The Washington Post reported on Thursday.
The report said AIG has been pressing the U.S. government to approve the payments in hopes of shielding itself from renewed public outrage.
AIG does not need the permission of Kenneth Feinberg, appointed last month to oversee the compensation of top executives at seven firms that have received large federal bailouts, the Post said.
But AIG officials have been reluctant to move forward without political cover from the government, according to the report.
Perhaps that’s because the ACORN gang and its allies on the far-left sent executives death threats and showed up outside their homes for daring to accept a payment they had a contractual right to receive. AIG would like the backing of the Obama Administration, supposedly under the impression that ACORN would back down if the plan had the blessing of the Community Organizer-in-Chief.
But the Treasury might refuse to form an opinion on the plan:
AIG’s upcoming payments do not fall under Feinberg’s official purview because they involve bonuses delayed from 2008, the article said.
As a result, some Treasury officials believe they are under no obligation to offer an advisory opinion in this case, which could leave company officials to decide the matter on their own, the Post said, citing a person familiar with the talks.
As I said, stand by for the obligatory fauxrage from Congressional Democrats. Maybe the legislative body will even pass another unconstitutional bill-of-attainder in response.


by Stephan Tawney on July 9, 2009