
I made up that acronym the other day after learning about the $165 million in bonuses AIG paid to their executives. The indecency of it all. Nobody who contributed to the collapse of AIG deserves a bonus. Least of all the gamblers aka traders and executives who made the wrong bets and caused AIG’s house of cards to tumble.
Bonuses are not entitlement. They are not paid simply because an employee spends eight hours a day on company time doing work. That’s a paycheck people. When did corporations loose sight of that small piece of wisdom? Bonuses are for results beyond expected performance. If an employee’s work had a direct impact on the company’s prosperity or improvement then a bonus is warranted. Bonuses are for the employee of the month and year crowd. Bonuses are NOT retainers. And why would any intelligent person want to retain the block of employees who caused the company to fail? If I owned a business and some employees made decisions that caused my business to fail and I needed a huge loan just to stay afloat ALL because of their bad choices then they are fired. Why would I pay them a bonus to keep them from leaving? What type of insane logic is that? I WANT them to leave.
I’m like most Americans. I’m just dumbfounded. So many American citizens are struggling to keep their financial life in something that looks like order and AIG failing employees are getting thousands and million dollar bonuses. And here is the kick in the rear. The same Americans who are struggling are paying for it. If I had the ability to draw I would have a character labeled American taxpayer bending over and another character labeled AIG standing right up behind them smiling. We are getting screwed here. And there seems to be little to nothing the Obama administration can do about it.
It’s like trying to stop a preventable fire after the house is burned down. I don’t care how angry you are at the result it doesn’t matter when the house is in ashes. And since I’m ranting here Geithner is getting on my American taxpayer nerves. He lacks a visible backbone to his character. I have not seen him look strong as the Secretary of the Treasury. I did not like some of the decisions Henry Paulson, the previous Secretary of the Treasury, made but at least the man had balls and I admire that.
I like the idea of taxing the bonuses to recoup the money. More than I like just subtracting $165 million from the next AIG taxpayer installment. Nobody at AIG is going to notice their next bailout money in billions of dollars is missing 165 million of them. The people who received bonuses do not deserve a taxpayers dime and Uncle Sam needs to determine how to get our money back.
Alisa















