President Obama is pledging to take legal action against AIG (American International Group) for giving $165 Million in bonuses (of the $170 Billion we, the taxpayers, just gave AIG from our Treasury Fund) to their own AIG staff.

 See $700 Billion Bailout

Although AIG's CEO Edward Liddy was not in place when the damaging insurance contracts were drawn up last year, he feels that this employees deserve bonuses. For what? Liddy explains that the derivitive traders who were present at the time the contracts were drafted are the only people who will be able to "untangle the mess".

I cannot explain the circumstances of the insurance for insurance companies contracts, it's too complicated for me.

 The President promised the nation today that he will "pursue every single legal avenue" to block the AIG bonuses.

AIG agreed, internally, on the bonuses last year. Guess what, times have changed.

Personally, I don't have a 401K match from my employer anymore. Do I think piss-poor money handlers within a private company should be awarded retention bonuses? If the employees were whining and moaning about not getting their "promised bonuses", Ed Liddy should have just said, "OK. Stop whining. You have two choices. A) Don't get a bonus and still have a job or B) Don't have a job. Simple.

Why not? Is it unconstituational for a government to own a business? See U.S. Postal Service and Department of Motor Vehicles.

The taxpayers should own AIG, care of the United States government.

(Courtesy of various news media and my two cents)