Taxpayers to Pay AIG Bonuses
Congratulations fellow American taxpayer. We are going to write a check fo $165 million to fund executive bonuses at AIG. That is right! And not just any division of AIG, but the AIG financial products division that wrote all those toxic credit default swaps and other derivatives that threatened a financial doomsday.
Edward Libby, the government appointed head of AIG stated that “We cannot attract and retain the best and the brightest talent to lead and staff the AIG businesses – which are now being operated principally on behalf of American taxpayers – if employees believe their compensation is subject to continued arbitrary adjustment by the U.S. Treasury.”
In otherwords, keep sending us money but don’t tell us how to spend it.
Comments
Comment from butasforme
Time: March 16, 2009, 8:35 am
AIG = Allowing Irreversible Greed.
AIG = All in Greed.
AIG = Arn't I Greedy.
AIG = A$#holes, in general.
This is sick. Why in the world are we helping these companies that keep sending millions to people who do not know how to run a company? They cry yet get paid millions on the "average joes" taxes. Furthermore, I fear this is just the tip of the iceberg. Look what Enterprise rent-a-car did to get bailout funds:
http://www.butasforme.com/2009/02/25/alert-enterp...
Not to make excuses for these people, but the bailouts are making crooks out of everyone that touches the money.
Comment from Distressed Asset
Time: March 15, 2009, 1:28 pm
That is just great! Just what we need. I wonder if any of these guys will at least invite us on their yacht?