This article talks about how AIG has to pay out 165 million in bonuses even though they got 10 billion in federal bailout money.
How is it they don't seem to understand that bonuses are given out for doing a good job and rewarding employees when the company does well. AIG reported this month that it had lost $61.7 billion for the fourth quarter of last year, the largest corporate loss in history. They are calling these retention bonuses. I would ask why the hell would you retain employees who lost you billions upon billions of dollars?
So I tell you go grab your pitchforks and torches. There is an evil monster in that skyscraper of an office. And it's time to chase them out and destroy it.
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4 comments:
Looks like the Obaminator is mad (rightfully so):
"How do they justify this outrage to the taxpayers who are keeping the company afloat," the president said.
they should have put restrictions on the money. but they are too lazy to do the detail work.
Not lazy about the details at all. The details would appear to me as political favors.
While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” -- which exempts the very AIG bonuses Dodd and others are now seeking to tax.
The amendment made it into the final version of the bill, and is law.
Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.
wow
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