AIG gives bailout rundown
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#1 Mar 16, 2009
AIG should have been forced to renegotiate its contracts under the condition of receiving bailout money like GM and Chrysler were forced to do. So now we have to pay bonus to employees who screwed up initially and put AIG in this situation, just so they don't quit because noone else understands the complex financial schemes AIG incorporates. I thought the teachers union had job security.
Since the government owns 80% of AIG, as a taxpayer, I want names of those receiving these bonus. Forget, don't pay them and break the contracts, let them suit and see if a jury will reward their stupidy.
#2 Mar 16, 2009
What still burns me to the bone about the bailout and now the bonuses, is that nothing has been fixed by congress. Other than covering their miserable, worthless butts, absolutely NOTHING. The bonus earners that were, and are still selling derivative credit default swaps, are still doing business as usual. So why are they being rewarded for running a shadow, uncontrolled market operation???
I contend, that since admitted felon Bernard Madoff is sitting in a Manhattan jail cell, then why aren't the CEO of Bank of America, Citi-Group, Bear Stearn's, Merrill Lynch etc, being given the same treatment? What did Madoff do differently than them?
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