AIG Bonuses – Is it greed, righteous claim or would compassion counts?

The AIG colossal payouts as bonuses to some of their top executives has stirred up the wrath of the majority of the American public. The US Government is angry, its president is angry, the lawmakers are furious and some Americans even demonstrated in front of the homes of some of the executives.

This whole episode, is it pure greed on the part of the AIG executives? Or is it total stupidity on the part of the top, top executives in AIG? Or is it the righteous claims……..more of the executives, the rightful rewards due them for the work they had put in? Some of the neighbors of the executives spoke out on their behalf – telling the media that their AIG neighbors are decent persons, that they are contributing members to the communities.

It looks like the whole mess is a potpourri of all these elements. There is stupidity, there is the element of greed and there is also the element of righteous claim in it. Instead of making the situation worse and letting the whole matter drag on, the element of compassion should be introduced into the equation now.

Those executives who have received the bonus payouts should return a major part of the money, as it is the taxpayers’ money that has shored up the otherwise would have collapsed AIG.

The American public should allow these executives concerned to keep a small portion of the money, as  a face-saving measure, also as  a recognition of the work they had performed prior to this. It is  also a recognition of the rule of law as some of these payouts are in the terms of their agreements. In this way everyone, every American sacrifices, so everyone wins.

What say you, my American friends?

Come visit again. Thank you.

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2 thoughts on “AIG Bonuses – Is it greed, righteous claim or would compassion counts?

  1. Sal says:

    The executive bonus dog and pony show is a distraction from the real issues. AIG didn’t need a bailout as its counterparties have already been covered by the government. Former NY attorney general and disgraced governor Eliot Spitzer has also pointed out some very interesting ties with Goldman. Perhaps the AIG bailout was really aimed at shoring up Goldman?

    Finally, it is also crazy that AIG is suing the government for $306 million because of tax overpayment of $62 million on some offshore tax shelters. So while their present CEO didn’t preside over the bonus contracts, he certainly presided over the lawsuit decision.

    Now about these contracts. Corporations routinely break contracts with labor even for health care and pension benefits of those already retired. In this case however, US law states that any “unjust enrichment or fraudulent conveyance” does not have to be paid even if under contract to do so. And finally, the government actually owns AIG now so all they have to do is appoint a board of directors willing to carry out the will of the people, something they have been reluctant to do.

  2. littlerhody says:

    I wrote about this and called it “Bonus Time” on my blog…www.justbeingmary.wordpress …sort of a joke about being a stay at home mom and giving up my bonus this year! a not so subtle nod to the AIG execs…and for the record I really don’t get a yearly bonus!

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