Conor Clarke posts Laurence Tribe's views on whether the federal government could effectively take back the AIG bonuses without running afoul of constitutional prohibitions. Tribe's bottom line:
It would not be terribly difficult to structure a tax, even one that approached a rate of 100%, levied on some or all of the bonuses already handed out (or to be handed out in the future) by AIG and other recipients of federal bailout funds so that the tax would survive bill of attainder clause challenge.
If Professor Tribe is right, I wonder what such a targeted tax provision would look like. Megan McArdle also wonders what implications this will have for other institutions that received TARP.