Obama: AIG payments an 'outrage'

Link to the article: Channel 4

Last Modified: 16 Mar 2009
By: Sarah Smith

Barack Obama condemns as 'an outrage' a decision by bailed-out insurance company AIG to award $165m in bonus payments despite record losses.

The president said he would "pursue every legal avenue" to block the money, which he cited as recklessness and greed.

The US government has spent $170bn in taxpayer dollars keeping AIG afloat.

Now the administration is facing a growing public backlash over the bailout billions.