Obama Seeks to Block Bonuses

By GottaLaff

President Obama is on the Tee Vee Machine as I type this. The Dow is up 129.

He just coughed, paused for a second, and said, "Excuse me. I'm choked up with anger here."

Trying to contain what became a political firestorm over the weekend, President Obama said his administration will "pursue every legal avenue" to block $165 million in bonuses to AIG executives, the AP reports.

Said Obama: "This is a corporation that finds itself in financial distress due to recklessness and greed. Under these circumstances, it's hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?"

UPDATE: Exerpts of his speech here.