The stock market has been slowly rising in the past week, acting as the first positive sign for future economic recovery. AIG, however, is currently threatening Americans' growing faith in the bank bailout plan by promising millions of dollars in bonuses for its executives. Obama is now urging Secretary Geithner to pursue every possible avenue to stop these bonuses from being dispersed.
I completely agree with President Obama that AIG should not be allowed to give out such lofty bonuses. The prospect that the people who helped put the bank in such a perilous position in the first place might now be paid handsomely for their recklessness is unbelievable. If the Treasury Department fails to halt these bonuses, US taxpayers could once again lose their trust in the banking industry, resulting in yet another stock market plunge.
Monday, March 16, 2009
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