No, AIG's bonuses were not morally justified, because they were paid with taxpayer dollars. When a company receives and accepts a government bailout, they are essentially taken over by the government. A person should not think they will receive the same bonus that they would otherwise receive, because that is the penalty of getting in bed with the government.
AIG's bonuses were unjustified. The CEO's at AIG had just received an increase in salary when the economic was in a recession and added bonuses to those raises. Because of the unfairness of the bonuses, government made the CEO's pay up to 90 per cent of taxes on the bonuses.