LA Times reports that AIG chief requests employees return at least half of bonuses.
Now Isn’t that special?
Why don’t I just pay HALF my taxes? or HALF my credit card payments… that will be an interesting experiment.
How long would it take you or I to land in court or jail? Not fucking long.
But these guys get bonuses for helping to drive the ENTIRE U.S. ECONOMY into an ever deepening hole!
I want to know why the recipients of these handouts haven’t been fired in the first place. They were the ones who led us in to this disaster for their own profit.
Who striped the provision to block bonuses? Huffington Post asks too.
“The AIG chief executive noted that he believed the retention bonuses at the financial products unit were necessary, so that competition would not take AIG’s best minds away.
“I am trying desperately to prevent an uncontrolled collapse of that business,” he said. “This is the only way to improve AIG’s ability to pay taxpayers back quickly and completely and the only way to avoid a systemic shock to the economy that the U.S. government help was meant to relieve.”
Liddy added that the financial products unit has been successful at unwinding the company’s derivatives business to $1.6 trillion from $2.7 trillion. Paying $165 million in bonuses is “a large number, but in the context of $1.6 trillion, I think it’s a good trade,” he said.
But lawmakers disagreed, arguing that AIG was fighting to retain the wrong people.
“These are not the people you want to retain — you need to get people who understand the mistakes and undo them,” said committee chairman Barney Frank, D-Mass.
Mr. Liddy, please release their names so we can share our appreciation of their labors.
Oh! and then there is this nugget:
Huffington post reports on assclown Limbaugh DEFENDING the bonuses.
You just can’t make this shit up!