Appearing before Congress, the head of AIG said "cold realities of competition" compelled the insurer to pay $165 million in bonuses but acknowledged that bailout-weary Americans' patience was running thin.
As you well know, AIG has come under intense fire for accepting up to $180 billion in government aid and then handing out multimillion-dollar bonuses.
Fury over the bonuses seems to be growing with each passing day. Many voters view the financial rescues as free handouts to wealthy executives who made bad decisions, and the fat bonuses have fueled that anger.
Fast Money viewers are irate; in fact Edward Liddy should be thankful he’s testifying before Congress and not our audience.
Rick B. would ask, “What would AIG have done without the bailout money? That is, would they have had the money with which to make those 'legally obligated' payments?”
And Jim R. adds, “Tell them they are done getting money from the government. If they cannot make it on their own, they should borrow it from the millionaires club they just created.”
The outrage now threatens to undermine the administrations plans to solve the credit crisis, with more voters saying what Jim R. said above, that is “tell them they are done getting money from the government.”
And that leads to our Fast Money Reader Poll. Should the government cut off AIG?
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CNBC.com with wires