Obama’s top economic advisor tells CNBC that the administration is doing everything it can “within the law” to get back those bonuses.

“We’re not going to abrogate contracts… But we are going to be as creative and energetic at addressing this situation as we can.”

And/But: Brushes off a question on Dem lawmakers’ proposal to tax up to 91% if AIG doesn’t return the money voluntarily.

Read full transcript here. Click above to watch.