AIG Bonuses

Everyone, it seems from the papers and TV programs I’ve seen , is up in arms about AIG and its plans to award $165,000,000 in bonuses and retention pay. They are apparently (at least they claim this is so) legally and contractually bound to do so. That may well be the case and although I am not personally American, I am a taxpayer in this country. So that makes their bailout money my money too.

And yes, I am annoyed at any of my money going in bonuses to AIG employees. A bonus is a payment awarded for particularly good performance. Notice I said “good.” personally I would have been quite happy to see AIG go to the wall. I do not subscribe to the “it’s too big to be allowed to fail” line of thought.

Without my money and that of millions of other taxpayers (a burden for years to come too) none of these people would even have a job. So… even though AIG may be legally bound to pay out is it too much to ask that the proposed recipients refuse to accept? They have a job they don’t deserve to have any more. They certainly didn’t perform well. And as for staff retention, well, they bankrupted the company. Let them go. All of them.

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