So, since it was allowed to go through to prevent lawsuits, there will now be...lawsuits.
Acting with lightning speed, the Democratic-led House has approved a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers. The vote was 328-93.
Said House Speaker Nancy Pelosi: "We want our money back and we want our money back now for the taxpayers."
Republicans called it a legally questionable ploy to paper over Obama administration missteps. Minority Leader John Boehner, R-Ohio, said the bill was "a political circus" diverting attention from why the administration hadn't done more to block the bonuses before they were paid.
The bonuses, totaling $165 million, were paid to employees of troubled insurer American International Group, including to traders in the unit that nearly brought about the company's collapse. |