Frankly, I don't see the big deal with AIG handing out $165,000,000 in bonuses. 73 people received bonuses over $1,000,000. If we are going to bail out a company that obviously has issues with their products and not give them some type of stipulation as to what may or may not be done with that money then they are entitled to spend it however they want. The initial bailout payment to AIG was $85,000,000,000. So the $165,000,000 is a little less than 2% of the total initial bailout. I expect that starting with the next chunk of money AIG gets there will certainly be measures in place to prevent them from dispursing another huge sum of money to employees.
Tuesday, March 17, 2009
So what is the big deal with AIG bonuses...
Frankly, I don't see the big deal with AIG handing out $165,000,000 in bonuses. 73 people received bonuses over $1,000,000. If we are going to bail out a company that obviously has issues with their products and not give them some type of stipulation as to what may or may not be done with that money then they are entitled to spend it however they want. The initial bailout payment to AIG was $85,000,000,000. So the $165,000,000 is a little less than 2% of the total initial bailout. I expect that starting with the next chunk of money AIG gets there will certainly be measures in place to prevent them from dispursing another huge sum of money to employees.
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