This is a great example of how government runs business. The plutocrats in Washington are not spending their money. They are spending yours, so it is all good. It would be a shame if their buds at AIG would miss out on their bonus money.
Bonus money is paid for performance. The executives have done a wonderful job of running this wealthy company into poverty. They have also blown 170 Billion of your grand kids money. Congress is determined to help them get their hands into the pockets of your Great, Great grandchildren. If only to insure that the executives have enough money to contribute to the campaign war chests of their favorite politicians.
“WASHINGTON — 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. The Treasury Department determined that the government did not have the legal authority to block the current payments by the company. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history.”
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