So I'm sure everyone knows about the AIG bonuses so I'll keep the wrap up short. Basically AIG got close to $200billion in bailout money then spent nearly $200million to pay bonuses. Now everybody is really pissed.
Don't get me wrong, I'm pissed too, BUT I fail to see where an entire week of congressional debates should be spent trying to get this money back. As pissed as I am about this it's not that much money in the grand scheme of things. They're basically spending all this time trying to recoup the cost of 1-1/2 F-22 Raptors (that's what Starscream is for those that don't know).
This shit should have been taken care of before the buyout. Someone should have said 'Look here assholes, we're keeping you from going under w/ our bailout so you're playing by our rules now. Say goodbye to your undeserved bonus fucker.'
Proponents of the bonuses claim they need to remain intact to help with employee retention. Retain the same decision makers that fucked everything up in the first place? Awesome.
You know what, let them keep their bonuses. That way they hopefully stay w/ AIG and don't go to other banks to fuck them up too. Apparently most of these fuckers don't even need the money as some of the money has been given back.
Note to Congress: When you make a mistake and curing it will cost more (theoretically) than just letting it slide, just let it slide and move on to more important things.
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Employee retention? How about the unemployment rate of the nation is skyrocketing because of rich assholes like the employees at AIG that don't know how to handle money and blow it on the newest model of private jet.
ReplyDeleteBut I guess the best thing is to just move on and hope that someone kicks these jerks out of the financial industry ASAP.