I don’t normally post my political views on here. But this goes beyond political. Most of us are struggling just to keep our heads above water. I feel like all I do is work just to try to pay my bills. Yet, AIG got bailed out by the government with our tax dollars, and now they get $450 MILLION in bonuses. How is this right? I just got an e-mail from moveon.org about this, and so I’m spreading the word.
The people at AIG who are most responsible for the severity of the financial crisis should be in jail. But instead, they’re slated to get $450 million in bonuses. President Obama has instructed Treasury Secretary Geithner to use “every single legal avenue to block these bonuses and make the American taxpayers whole.” But AIG isn’t budging—they claim that even after hundreds of billions of dollars and a direct request from the President, their “hands are tied.”
We need to turn up the heat. Tomorrow, AIG’s executives are appearing before a House subcommittee, and we’ve got a chance to give them a piece of our minds.
I signed a petition urging Secretary Geithner and Congress to do whatever it takes to cancel these bonuses.
Here is a link to sign the petition against this.
Where’s my bonus for being a hard working citizen who hasn’t screwed people over?
AMEN Sister.
Thanks for the link Traci. This whole situation is beyond belief. They should be thrown in jail, instead they are rewarded?
Amen, I agree!
This may not be the popular opinion but do you mean to say that all the AIG insurance agents who have been working hard & selling insurance policies shouldn't get paid? Ask yourselves; do you KNOW what the bonus' are for?? The top guys should be in trouble sure; they controlled where the money was invested but AIG is more than just those few. There are still many agents out there selling policies. They are still trying earn thier livings.
And to clairfy; Insurance agents are paid on commissions/or bonus’ for selling those policies. Those words are interchangable.
Stacy, This problem (and information) has to do with the top executives, not the average Joe Schmo selling insurance policies. Here’s some info from a Washington Post article:
“NEW YORK, March 17 — Seventy-three employees of troubled American International Group received more than $1 million in bonuses under contracts that guaranteed them 100 percent of their 2007 pay in 2008 regardless of performance, New York State Attorney General Andrew Cuomo said. . . . .”
“The top bonus recipient got more than $6.4 million, Cuomo said. The top seven earners received payouts of more than $4 million each, while 22 people received bonuses of $2 million or more, Cuomo said.
. . .
Here’s the link:
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031702046.html
I agree that this is just unbelievable. I could understand a “normal” bonus but millions of dollars per person? Please….. It’s not our problem that they signed these contracts promising these bonuses so why should my tax dollars go to pay them?
I’ll be signing the petition too. Thanks for the info.
@Stacy : The real problem is that we are handing out funds without vetting the business. Had the US Govt done their homework (or wrote the bailout with the proper contingencies) this would never have happened. Think about it, the board at AIG took the US Govt for a ride, how embarrassing is that?