House Passes Bill to Punish A.I.G. Bonus Recipients

Spurred on by a tidal wave of public anger over bonuses paid to executives of the foundering American International Group, the House voted 328 to 93 on Thursday to get back most of the money by levying a 90 percent tax on it.

The measure easily surpassed a procedural hurdle requiring a two-thirds majority vote, thanks to considerable Republican support. The Senate will consider a roughly similar measure, perhaps next week. If something is approved ... Full Story »

Posted by Fabrice Florin
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Posted by: Posted by Fabrice Florin - Mar 19, 2009 - 12:59 PM PDT
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Edited by: Fabrice Florin - Mar 19, 2009 - 12:59 PM PDT

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3.5
by Fabrice Florin - Mar. 20, 2009

Informative report on a hotly debated measure, which fairly presents the perspectives of Democrats and Republicans in Congress. Conspicuously absent, though, are the views of A.I.G and the bonus-recipients who are being taxed by this bill. Otherwise, the article is factual, reasonably well sourced and provides useful context.

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3.7
by Jim Lang - Mar. 19, 2009

A reasonably well written and sourced story on the Congressional rush to demonstrate outrage and action concerning retention bonuses paid at AIG -- responding to constituent outrage. Heavy coverage of the political sniping.

My concern is that we not lose sight of the objective of reviving the economy. The bonus snafu is annoying but is a nit in the big picture -- yet ... More »

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3.9
by Peter L. Combs - Mar. 19, 2009

A well written a researched end of the day story on the AIG Congressional Bailout Tax and the mood among law makers who voted on the controversial measure. Loads of posturing by participants including Mr. Dodd, AIG's largest campaign contribution recipient. Good read.

The AIG Tax vote is interesting gesture, the likelihood of it being implemented is I suspect nil. This was all an absurd grandstanding maneuver by ... More »

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4.0
by Kenneth Sibbett - Mar. 20, 2009

An Indept story of how greed took over not just Wall St., but the World.While this is great .PR. for the Presendant and Congress, Something just doesn't smell right.

If I was an honest person who worked 18 hr. days trying to fix my particular section, and was lumped in with a bunch of crooks, I would be yelling ... More »

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  • Would an AIG-Bonus Tax Pass Constitutional Muster?

    Tribe: I do think Congress (and the Executive Branch) could avoid serious Bill of Attainder problems by passing a sufficiently broad law … rather than targeting a closed ...
    Posted by Peter L. Combs
    3.6
  • The Rise And Fall Of AIG's Financial Products Unit

    How and when did AIG Financial Products get started? Who ran it, and from where? How did it get into credit default swaps, and what exactly are they, anyway? And how did this ...
    Posted by Derek Hawkins
    4.4
  • Off With the Bankers

    A.I.G. can hardly claim that its generous bonuses attract the best and the brightest. So instead, it defends the payments by arguing they’re needed to retain employees who ...
    Posted by Fabrice Florin
    3.9