President Barack Obama’s attempt to harness public anger over bonuses paid by American International Group Inc. may backfire on him as Republicans try to redirect that anger toward his administration.
Obama’s spokesman yesterday was forced to defend Treasury Secretary Timothy Geithner and the administration’s response against attacks by Republican lawmakers, some of whom threatened to block any more bailouts of struggling companies.
The public furor over the $165 million in bonuses AIG handed out to employees gives administration critics a new weapon to thwart Obama’s agenda, from his budget to plans for financial-market regulation. It’s also sparking a new round of legislative proposals to penalize — and potentially tax — executives who receive bonuses at rescued companies.
Obama May Find Anger Over AIG Bonuses Backfires On His Agenda
