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AIG refuses to back down in bonus row with US government

Fallen insurance giant AIG, which was forced to beg US authorities for $170 billion to survive, has refused to hand over details of employees who received $165 million in bonuses from the financial products division - the operation which many see as the main culprit for the collapse in the US economy. It seems as though Gordon Brown is not the only government leader who has fallen foul of banking bonus payments although the AIG argument looks set to end up in court.

Pres Barak Obama has certainly hit the ground running as he looks to turn the US economy around and ensure that former fallen idols do not use taxpayer's money to cover substantial banking bonuses. There is no doubt we will hear Gordon Brown again suggesting that Barack Obama is following his lead when the facts are that no government around the world can afford to see taxpayer's money being paid in bonuses when taxpayers themselves are struggling to make ends meet.

While Barack Obama appears set to use the courts in his efforts to fight substantial bonus payments in the short to medium term, it would appear that Gordon Brown has no such options with Sir Fred Goodwin's pension payment for example apparently signed off by the authorities.

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