Treasury Considers Bailout Reduction For AIG

I'm hearing that....The Department of the Treasury is looking at ways to simply reduce the amount of money it's lending to AIG; they'd start with the latest $30 billion line of credit and subtract the value of the bonuses paid. And that's the question: to how much, precisely, do the bonuses add up? Published values range from $165 million to $1.2 billion. Another problem: the Treasury wants to set a uniform standard for companies taking bailout money, and it may not be possible simply to punish just one.

(b) Speaking of punishing AIG: Rep. Gary Peters  (D-MI) plans to introduce a bill to tax AIG bonuses at a high rate this year. A spokesman for Peters says that details are still being worked out. Targeting legislation at one company is tantamount to the Congress's passing a bill of attainder against AIG. But these are extraordinary times.

Presented by

Marc Ambinder is an Atlantic contributing editor. He is also a senior contributor at Defense One, a contributing editor at GQ, and a regular contributor at The Week.

The Best 71-Second Animation You'll Watch Today

A rock monster tries to save a village from destruction.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

The Best 71-Second Animation You'll Watch Today

A rock monster tries to save a village from destruction.

Video

The Case for Napping at Work

Most Americans don't get enough sleep. More and more employers are trying to help address that.

Video

A Four-Dimensional Tour of Boston

In this groundbreaking video, time moves at multiple speeds within a single frame.

Video

Who Made Pop Music So Repetitive? You Did.

If pop music is too homogenous, that's because listeners want it that way.

Video

Stunning GoPro Footage of a Wildfire

In the field with America’s elite Native American firefighting crew

More in Politics

Just In