Thinking

By: L Jones

WTF AIG?

The country’s financial foundation is crumbling. US citizens are losing jobs, money, homes and patience.  Who’s to blame? So many things are the blame, but AIG has the misfortune of being one of the faces associated with the country’s current financial woes. AIG’s alleged mismanagement and poor financial decisions has placed the company in the center of country’s resentment bull’s eye.

Fast forward to now; after the billions of tax-payer’s dollars to “bail-out” one of the country’s leading insurance companies; in a sense insuring the company’s future. MILLION DOLLAR plus bonuses. Ok, I understand that companies give their employees bonuses when the company turns a profit. Why the hell are employees of a failing company getting million dollar plus bonuses?

Edward M. Liddy, Chairman and CEO of AIG, wrote a letter offering the reason for the decisions and plans for the future. Click here if you’d like to read the letter. It’s a good read. He pretty much says that the decision to pay the bonuses was approved sometime last year, when he was not in power.  All I’m saying is, you are in power now. Those bonuses should have been revoked. All the higher ups need to be replaced and AIG needs to start earning their keep or be dismantled. That’s just what I think.

What do you think?

Trackback URI | Comments RSS