After posting earlier my blog about how the recession was effecting my life on just the little things I was shocked to get the following news alert from the New York Times:
A.I.G. to Pay $100 Million in Bonuses After Huge Bailout
Despite being bailed out with more than $170 billion from the Treasury and Federal Reserve, the American International Group is preparing to pay about $100 million in bonuses to executives in the same business unit that brought the company to the brink of collapse last year.
We, the citizens of the United States, gave these leaders in our economic destruction $170 billion of our hard earned tax dollars (when we still had money to be earned). And they are giving $100 million in bonuses to them? We are living on the bare minimum and thousands are in tent cities and foreclosure and they have the gull to accept huge sums of money?
I am reminded of the French Revolution and I say as they said: Off with their heads!
This is another thing we get to lay at the feet of GW Bush. He said AIG was too big to fail. A quote they will no doubt use against us if we ever try to cut them out of TARP funds. And it was GW Bush that gave the money freely away to his friends without any stipulations.
ReplyDeleteThey say the contracts with these CEO's must stand but they wouldn't have had to if we had let them go into bankruptcy court which has the power to re-write everything.
Hopefully the new congress and Obama will start pumping out regulations and the FBI will start filing felony charges against these thieves.
I do know if I sat on the jury of a trial against a defendant that killed one of these people I would vote not guilty.