I’m sure you’ve seen the hoopla about AIG taking taxpayer bailout money and using it to pay outlandish bonuses to the same boneheads that tanked the company in the first place.
EVERYONE is so outraged, and now even the government is devising ways to tax the bejezus out of them or get everyone fired, or tar and feathering them... but frankly I’m not pissed off at AIG.
What else did you expect them to do with it? You had a failing insurance company that pissed their money away on lavish retreats, made bad investments, gave bonuses up the ying for non performance, and generally ran that company into the ground. What exactly did you think they would do with more money?
That’s like giving a crack addict a grand and telling him to go clean up and get a job, then getting mad or being surprised when the crack addict blows the money on more crack!
There’s outrage over the fact that AIG paid off some of its outstanding debt (which I’m pretty sure was part of the purpose of the whole freakin bailout in the first place) but that they paid off overseas debt. Um, didn’t Timothy TurboTax Geithner just get done with the G20 summit and telling people that we need to continue pouring money into the international economy? I could have swore something like that was said, and yet we’re bitching because AIG paid off foreign debt?
The scary thing to me is that our government (which is the SOLE entity responsible for this craptastic mess we’re in, and just digging us in deeper) is plotting and planning various and sundry ways to control companies that do things they don’t like, or don’t do what they say. New types of taxes for those getting bonuses... when is that going to spread to anyone getting a bonus? Demanding lists of people that receive bonuses? Is your name going to go out to the government for that crappy plaque and equally crappy lunch you got with your boss who droned on and on about work or his kids? Will you then be required to pay back money for that crappy plaque and horrible lunch?
WE all screamed that WE didn’t want our tax money going to pay for failing companies. If they fail, they fail, lesson learned, morons out of a job, perhaps their loss will create a niche for small businesses to take that would be successful and lead to a better economy, but NOOOOOO the government just ponied up our money to give to those who already proved their were fiscally irresponsible.
Fire the government, don’t lynch AIG. Their demise is coming soon enough... but should have come months ago and without all of our money.