DomainReport.ca - This is what's wrong with the economy, AIG company receives $170 Billion dollars in bailout money from the US government and pays out $165 million in bonuses to executives.
I don't know how American tax payers can stand it.
This is a company that lost 62 Billion dollars in the last quarter of last year. What kind of company pays out $165 Million in bonuses when they lose billions of dollars? A bonus for what?? I don't care if the contracts call for it, the people getting these bonuses should be ashamed and decline them.
The greed in these times is simply astounding.
It shows that even though Wallstreet is going down in flames they are throwing more gasoline on themselves. I say enough is enough. Executives in the finance world have been getting huge bonuses for years, and look at what they have created - a meltdown in the world economy as a result of their shady practices and easy credit.
The expectation of reward and bonus despite poor performance, what other industry rewards pitiful performance with over-the-top payments?
How about adding a condition to the stimulus package - "Bailout money can't be used to pay executive bonuses".
Full story - AIG to pay $165 Million in bonuses