I don't give a damn what that failure says on behalf of his good buddies. Were's the contract with the American taxpayer?
"When a business in purchased, that business assets and liabilities are assumed by the purchaser."
AIG is an unsuccessful business. It is a big failure and is so, because of the thoughts, decisions and actions of the clowns demanding the bonuses! They were rescued from bankruptcy by fed gov. What part of that don't you understand?
"Do you not understand the most fundamental principles of business law and practice? Really, this is business 101."
Business law? Here's contract law 101. The party with the greater assets wins the case. Fed Gov to the losers-sue me!
BTW. Conservative philosophy maintains that responsibility for one's acitons is required. That means you don't get cash bonuses for efforts that result in failure.
Where is the contract with the American Taxpayer...
AGAIN
The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary [of the Treasury] or the designee of the Secretary.
The amendment as modified by the conference committee was included in the final recovery bill passed by Congress and signed by President Obama.
Are you that slow?