Republican lawmakers are very upset about AIG's use of the bailout money they have recently recieved. They blasted the Treasury Department and the Federal Government for giving an $85 billion dollar stimulus to AIG. They were upset before they realized what the bailout money was actually used for. With this bailout money, it was possible for the government to take control of AIG, but evidently this didn't happen because of a contract that was in place at AIG. They were able to use the bailout money any way they pleased, and they used it to give bonuses to executives.
The only good thing to take place was when several of the executives who were awarded bonuses gave them back. So what steps does the president need to take to ensure that this doesn't happen again?
People blame not only President Obama, but also on President Bush. Of course they are blaming President Bush for the financial crisis, but is it really his fault, or the fault of AIG? This is a hard question to answer. It appears that AIG is not a responsible company and that they need help in restructuring the CEO and his management team. It does appear that the CEO didn't spend the money wisely and he may even ask for more in the future. President Obama should say no even if AIG goes under, as they were wrong in what they did with the first amount of stimulus money.
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