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add Sharia financing
During the 2008 financial crisis, it was bailed out by the Bush administration and the Federal Reserve after facing the prospect of [[bankruptcy]]. The government has spent over $170 billion to shore up AIG--with more coming--because it insured big banks against losses from securities that turned out to be "toxic" and lost much of their value. [[Image:Bonus09.jpg|thumb|400px]]
During the 2008 financial crisis, it was bailed out by the Bush administration and the Federal Reserve after facing the prospect of [[bankruptcy]]. The government has spent over $170 billion to shore up AIG--with more coming--because it insured big banks against losses from securities that turned out to be "toxic" and lost much of their value. [[Image:Bonus09.jpg|thumb|400px]]
==Bonuses==
==Bonuses==
In March 2009 a firestorm of public protest exploded when it was discovered the U.S. Treasury under Secretary [[Timothy Geithner]] had given out over $160 million in bonuses for work in 2008 to the AIG traders who caused over $60 billion in losses in 2008. A law to "claw back" the bonuses by special taxes passed the House and is before the Senate. The House version applies to all bonuses by financial institutions that have received $5 billion or more in federal bailous money, which includes all the larger banks. The public outrage ended the [[Obama Administration]]'s opportunity to ask Congress for more bailout billions.
In March 2009 a firestorm of public protest exploded when it was discovered the U.S. Treasury under Secretary [[Timothy Geithner]] had given out over $160 million in bonuses for work in 2008 to the AIG traders who caused over $60 billion in losses in 2008. A law to "claw back" the bonuses by special taxes passed the House and is before the Senate. The House version applies to all bonuses by financial institutions that have received $5 billion or more in federal bailous money, which includes all the larger banks. The public outrage ended the [[Obama Administration]]'s opportunity to ask Congress for more bailout billions.
==Sharia Financing==
According to a [[Thomas More Law Center]] lawsuit, at least a portion of AIG's $40 billion federal bailout has been used to support Sharia-compliant financial products. AIG has been using taxpayer money to promote [[Islam]] and [[Shariah]] law. The government acquired a majority interest in AIG and at least two of AIG subsidiary companies practice Sharia-compliant financing. In addition, the federal government co-sponsored a forum entitled Islamic Finance 101. <ref>[http://newsweek.washingtonpost.com/onfaith/undergod/2009/05/aig_sharia_and_uncle_sam.html AIG, Sharia and Uncle Sam, Washington Post, May 28, 2009]</ref>