Campell Brown
AIG Bonuses

Obama is against these bonuses… but does he have the power to stop them?

They find themselves in distress due to recklessness and greed. Why get millions of dollars of tax payer money?

450,000,000 dollars. 

Letter to Secretary Geithner: “Outside counsel has advised that these are legal, binding obligations of AIG and there are serious legal as well as business consequences for not paying.”

“We cannot attract and retain the best and brightest talent to lead and staff the AIG business… if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury.”

Obama says to use future bailouts to AIG as leverage.

The government should have attached more restrictions on the bailout money given to them. They didn’t put enough guidelines on how it should be spent, and it was spent on such things as bonuses.

Some effects on the micro scale:
More people dealing with their financial woes by a newfound dependence on pills.
American Psychological Association says 8 out of 10 Americans are stressed because of the economy. Stress leads to insomnia, etc. More people are taking drugs to cope with these problems. 
Doctors wrote $56 million in prescriptions last year. A 7% increase since the year before.

Stimulus money could be used to reduce gang activity through public programs.

Obama wishes to build up small businesses.
“Our recovery in the present and our prosperity in the future depend on the success of American small business and entrepreneurs”

12.5 mikllion are unemployed in the U.S. as of Feb 09.
1,946 dollars this year for health coverage.
20% owe more on their homes than they’re worth.
166,571 teachers are expected to lose their jobs on 09 and 10.