AIG Update

It's summertime in the septic tank economy. That can mean only one thing. Yep, it's bonus time again at AIG. AIG gave the world a gift. They hosed the global economic system. As they began to totter, someone, probably a big stockholder, declared "they are too big to fail." Our government heard that lament. Then we, the taxpayers, through the actions of our vastly experienced government folks, were able to buy the damn firm. It's as though AIG securitized itself and we provided the collateral. They were saved. They did not fail because they are now owned by the U.S. Treasury. The bosses at AIG felt so good they gave each other large bonuses to celebrate their most successful securities sale (con) to date.

Now, as the firm, U.S. AIG, continues to decrease in value, the aces at the helm want to hand out more bonuses. I guess they are for still being alive. Only, this time they have a Compensation Czar who can provide guidance. I think the Czar works for Tim, so bonuses will be approved. And their boss, that Obama guy, will have another chance to make a fine populist speech about evil bonuses and then continue to do nothing about firms that are too big to fail. We have been, are, and will remain screwed. And we do it do ourselves, we vote for these bums.

AIG Seeks Clearance For More Bonuses


Just for fun, go to the end of the article and read the last two paragraphs first. Then go to the beginning and read the rest.