Categorized | Economy

AIG Bonuses After Bailout

This is exactly the kind of thing that is putting me and millions of other Americans off capitalism, the greed, the lump sum bonuses when the rest of main street American is passing through hard times.

I recently wrote an article on Cobra insurance which American workers make use of when they get laid off from their jobs and the popularity and questions raised by users in the comments section was heart rending.

And now we hear that AIG is planning millions of corporate bonuses for its executives after it recieved tax payers money (I won’t use the term Government Money) to stave off bankruptcy etc.

American Corporate Greed has come to the fore so much that these crude capitalists pigs don’t know when enough is enough. When the whole of America is hurting so bad and we are witnessing people not able to meet their mortgage payments, medical insurance for their families etc., its morbid that these leeches are still clinging to their tax payer funded bonuses.

When the CEO of AIG was asked about these bonuses, he responded by saying the executives are promised bonuses according to their contracts.

Don’t get me wrong. I like capitalists like Warren Buffet who still gets 100,000 dollar salary and lives in the same home he has lived for the last 30 years.

But these AIG leeches are in a different league all together.

AIG Bonuses After Bailout

    One Response to “AIG Bonuses After Bailout”

    1. Patriotik says:

      Try replacing the word “bonus” with the word “salary”, because that is what a retention bonus is. It would be different if they were being paid performance bonuses, but they are not. They are being paid, a pre-determined amount, for not bailing on a company that would have a very hard time hiring someone even half as qualified to replace them. It should be called a “lump sum salary payment” because that is a more accurate term, but it requires less effort and stimulates better reviews from the shock value if you call it a “bonus”.

      I don’t see how you can make any comparison to capitalism. This is an issue caused by socialism. With Capitilism, companies that screw up, pay the price by going out of business or filing bankruptcy. With Socialism, the government gives the company enough money to essentially own 80% of the company. So what system failed you? Not capitalism, because we switched to socialism with the first bailout. We switched to socialism when we started propping up certian markets, creating bubbles. Instead of letting capitalism work, we create bubble markets. They call them bubble markets because bubbles burst. It hurts a lot more when the bubble bursts than if we would just let capitalism take its natural course. There is no capitalism at work with AIG at the present moment.


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