Rising

Intercept's Ryan Grim says oil, gas companies filing for bankruptcy after paying bonuses

The Intercept's Washington, D.C. bureau chief Ryan Grim lambasted energy companies on Hill.TV's "Rising" on Tuesday for paying executives bonuses before going under and filing for bankruptcy.

Speaking with co-hosts Krystal Ball and Saagar Enjeti, Grim detailed a report from The New York Times examining several oil and gas firms that shelled out millions in bonuses to company executives before filing for Chapter 9 relief with the federal government.

"A lot of these 'fly by night' gas companies are going out of business," Grim said. "They were required to put aside money to cap the wells, when they were finished drilling. But of course they didn't ... put that money aside."

"Instead, as The New York Times reported, they gave bonuses to a lot of their executives," he added.

Watch's Grim's interview above.