Tuesday, March 17, 2009

AIG Executive Retention Bonuses

Am I incensed that We the People are on the hook for AIG executive bonuses? Yes! Am I incensed that AIG is living up to their contractual obligations? No! Consider the following:

  • Politicians were responsible for worsening -- if not creating -- the financial crisis.
  • Politicians were unwilling to take responsibility for the financial crisis, choosing bailouts rather than bankruptcy for businesses that politicians set up to fail with their social agenda.
  • Politicians knew about the AIG bonuses a year ago.
  • Politicians specifically included an amendment to the bailout legislation to allow companies to meet contractual obligations such as bonuses.
  • Now politicians, e.g., Barack Obama, act all offended, trying to gin up righteous indignation against a company that is now 80% government owned and operated, in an attempt to obfuscate politicians responsibility in all this.

The amount of the executive retention bonuses amount to .001 of the total AIG bailout! I'm concerned about the nationalization of private industry, not about how a minute fraction of the boondoggle is spent!

Next election, I suggest we try to elect politicians who aren't complete retards.

No comments :

Post a Comment

This is a moderated forum. Please try to avoid ad-hominem attacks and gratuitous profanity. Justifiable profanity may be tolerated.

I am sorry, but due to the un-manageable volume of spam comments, I have enabled the scrambled word verification. I apologize for the inconvenience.