Representative Lois Capps said she was “disgusted” by the $165 million in bonuses paid to management at AIG, the imploding insurance giant that received $170 billion in federal bailout funds. It’s unclear how successful President Barack Obama may be in preventing AIG from paying those bonuses, as they were contracted before the company’s meltdown. State Assemblymember Pedro Nava has introduced a bill that would preclude any state-regulated financial institution from using bailout money for “excessive executive bonuses” or lavish parties. (/aig219)
