US President Obama, who denounced the bonuses of bailed-out insurer AIG's executives and traders as "outrageous" on Monday, vows to block them. But, legally, the US administration has little power to do so.President Barack Obama Monday ripped into bailed-out company AIG, vowing to block multi-million-dollar bonus payouts by the giant insurer as public anger builds against Wall Street excess. Conscious of the potential backlash as his administration readies new support for the financial industry, Obama said the planned bonuses for executives and traders at American International Group were an "outrage.""This is a corporation that finds itself in financial distress due to recklessness and greed," he said, in a rare flash of public anger, at a White House event with owners of small businesses. "Under these circumstances, it's hard to understand how derivative traders at AIG warranted any bonuses, much less 165 million dollars in extra pay," Obama said, after details of the payouts emerged over the weekend.
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