US public protest against AIG bonuses

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Source: CCTV.com | 03-22-2009 19:29

Public outrage is mounting over the American International Group's million-dollar bonuses after the company received billions of dollars in federal bailout money.

Protesters gather outside the headquarters of AIG Financial Products in Wilton, Connecticut. (AFP/Stan Honda)

It's also come to light that AIG has given out more in bonuses than had previously been reported.

Several lawmakers have called for Treasury Secretary Timothy Geithner's resignation over the AIG bonus scandal. But US President Barack Obama has repeatedly defended his treasury secretary.

Obama also says AIG executives need to better understand the public's outrage. And he added that in many places outside of New York, people are thrilled to be making 75-thousand dollars a year with no bonus.

About 40 protestors surrounded the Connecticut homes of some AIG top executives on Saturday.

Those executives have been blamed for putting the once-mighty insurer on life support. But they still used some of the government bailout money to pay their high bonuses.

Protesters signed a letter demanding the return of the taxpayers' money.