Mar 18 2009
Shameful AIG Just Doesn’t Get It
I probably don’t need to add my insignificant voice to the MOBs who are in such an outrage over the AIG employee bonuses. I know that some employees received only $1,000, but many received over $1 Million!
What I can’t get my mind around is how a “bonus” can be over $1 Million! Even if we discount the QUAINT NOTION that a “bonus” should be CONNECTED in SOME WAY to PERFORMANCE, I am mind-boggled at a one-year bonus that exceeds what a lot of working people earn in their ENTIRE LIFETIME!
Something is seriously wrong with our society–with our SYSTEM–that pays some people millions and millions in regular salary PLUS such an outrageous amount as a “little bonus,” while millions are unemployed or toil at jobs that pay $7.00 per hour, AND where heads of household are working two or three part-time jobs to make $20,000 a year and pay rent, utilities, car payments, gasoline, and buy food for a family of four.
Here’s the part that is really hurtful and offensive to most of the working people: the recipients of these multi-million dollar salaries and million dollar bonuses often take it for granted that they DESERVE it; that the company, or society, or the country OWES them this kind of compensation.
In my humble opinion, NOBODY is worth that kind of money and it doesn’t matter WHAT they contribute to society. These people are SUCKING CHEST WOUNDs on the World’s economies!
There was one time that I saw a statistic from Japan that showed the ratio of the salary from the highest paid company executive to the lowest paid employee was only FIVE to ONE! That was some years ago, and things have changed. (AND HOW!)
It is no wonder that our entire financial system, as it currently functions, is not sustainable. There is no value added at each step of the financial management process; but rather there is a “rake off the top” for these privileged individuals, and the cost is passed on at each step, with the large numbers of us poor bastards at the bottom of the taxpayer food chain picking up the cost.
I am totally fed up, and the only thing I can do is pull our annuity out of AIG and put it somewhere else.
Perhaps this is too obvious, but the problem here is finding ANY FINANCIAL organization that is any different!
http://newsday.today.com/2009/03/18/not-so-fast/ - I think the NY Post put it best.
This situation has me fuming… When did we get to the point where someone can go to Washington and ask for 700 billion dollars and the money is just handed over with no accountability, no oversight… Jeez this is ridiculous.
The gross inequity of wealth distribution in this country is something that most people find hard to swallow. Most folks just try not to look at it, but if you are curious, here is a good outline of where our problems lie. http://www.lcurve.org/SuperRich.htmn the imbalance of wealth is destabilizing to our economy.
ARE you kidding me!! The Merrill Lynch/ Bank of America scandel is far worse. ABOUT 40 TIMES WORSE!! Why not go back to the beginning of the beginning of the fiscal year for the government and get all of the scum on top of the pond from the beginning.
For the Congress to go after a select few and not all of the law-breaking criminals that have robbed all the hard working americans is why most of us are absolutely fed up with all of this anyways.
They are now voting right now to try to recoup a mere 164 million dollars and allow the thugs to get away with the moving up of their bonuses knowing full well that it was going to be B of A problems at the beginning of the year is absurd. They stole billions and Congress is worried about millions.
ENOUGH IS ENOUGH!!!! ENOUGH IS ENOUGH!!! DO YOU HEAR US CONGRESS!!! DO YOUR JOBS!!!!
Harrison,
This problem didn’t pop up overnight private industry was handling it, deregulation laid it right in their lap and we ended up with a $787bl bill for that.. what,
you want to let them run the tab to a trillion before you reel them in?
Hey if they didn’t want to be taken over fine, let the come up with the $787 billion.
why should they have a choice they cost us $787 billion if they can front the money out then hey give ‘em the choice if not hey we own them.