From AP via Yahoo! News -
Insurance giant paying out $165 million in bonuses
American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.
AIG is paying out the executive bonuses to meet a Sunday deadline, but the troubled insurance giant has agreed to administration requests to restrain future payments.
What else needs to be said?
1 comment:
This is sick. Why in the world are we helping these companies that keep sending millions to people who do not know how to run a company? Furthermore, I fear this is just the tip of the iceberg--there are so many ways these funds are hurting 'average Joes' but benefiting those in high places. Look what Enterprise rent-a-car did to get bailout funds:
http://www.butasforme.com/2009/02/25/alert-enterprise-rent-a-car-may-have-fired-employees-as-fake-evidence-when-lobbing-for-bailout-money/
Post a Comment