That being said, it's easily understandably why this story has picked up steam. Lots of people are in a world of financial hurt, and hearing that some people (who are partially responsible for the hurt) are getting millions of dollars, of course you're going to be upset.
Relatedly, Nate also had a good post about why AIG is paying bonuses . . .
I'm probably at the other end of the spectrum though from the people who are worked up about this. At this point, millions means almost nothing to me, and billions are still only 1 one-thousandth of the 2 trillion dollar deficit that is being projected. The numbers are almost so mind-numbingly large, that there's a part of me just waiting this out. Granted, I have the advantge that I'm employed, and not looking to retire any time soon . . .