AIG paid bonuses again for employees of the division that caused most of the losses as ‘retention pay’ to keep them around. Now they are whining that they could face lawsuits, and that their hands are tied.
I say let them all leave and sue. I say let the Justice Department fight the legal battle and drag it out for a long time. Are they going to find other jobs? Maybe GM has room for them.
This has disgrace written all over it. Let AIG die and then see where the bonuses are coming from? I use 21st Century (an AIG company) car insurance. I think it’s time I looked for different coverage.
Obama and Geithner are showing a lack of backbone here that is disturbing. Stop the payouts and this will take care of itself very quickly.
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-enterprise-rent-a-car-may-have-fired-employees-as-fake-evidence-when-lobbing-for-bailout-money/
Not to make excuses for these people, but the bailouts are making crooks out of everyone that touches the money.
Large amounts of money begets large amounts of creativity to push the envelope.
It does not take long before corruption takes hold. No government oversight can ever control it. Corruption is more nimble than government.
We’re going to read about this, and see movies about this, for the next 30 years.