AIG Bonuses: Stupid Beyond Belief
Bonuses fly in the face of common sense
However, when I read about the case of the AIG executives, I nearly choked on my delicious strand of Honduran jerky. Here, in AIG, we have perhaps the largest group of incompetent or criminal individuals in the history of corporate America (no small claim), who, through greed and ignorance, very nearly took down the entire worldwide financial system. They then came asking for my tax dollars to be used to bail them out. Unfortunately, they made the accurate statement that since AIG was so vital to the whole system that the government could not afford to let them go under. I'd rather see my taxes being spent on things like national defense, paved roads and traffic lights, but I grudgingly acknowledged their point. But here is the outrageous part. With the money given to them by taxpayers, AIG chose to REWARD their top executives for a job well done. I can't even imagine how they thought this would play in the daily papers. These executives should be up on charges for financial malfeasance, not getting rewarded with my income taxes. The outrage was justifiably deafening. As of this morning, it was reported that AIG had agreed to repay slightly less than half of the bonuses. Too little, too late, says I. ALL of this money needs to be returned to the people at once. If the bozos at AIG manage to keep their jobs or escape incarceration, the most they deserve is a swift kick is in the ass, and must also make a sincere apology to the American people.