“(Liddy) told Geithner that some bonus payments are binding legal obligations of the company, and “there are serious legal, as well as business consequences for not paying.”
In wonder how much the staff would have got if the company had declared Chapter 11 Bankruptcy. Since the govt. bailed them out, I can’t see how these bonus claims have any merit. They’d have got NOTHING if the company had gone to the wall as it deserved.
After all, the stock is less than $1.00 so the company is in effect bankrupt anyway. Its debt obligations were so numerous that the government HAD to bail them out to stop the economy falling apart. So I can’t see how anyone can in good heart claim any thing from them. Really, you earned that… Come on!