AIG recently disclosed that it will be paying out $165 million in bonuses, despite having recently received billions of dollars in U.S. Government bailout money.
AIG says that it is contractually obligated to pay out these bonuses, and that it risks extended litigation if it does not pay out.
People on both the left and the right are rightly outraged at this disclosure.
How is it that any employee of AIG receives bonuses in an environment where the company lost billions, nearly went out of business, and only remained in business thanks to intervention by the U.S. Government using taxpayer funds?
- If AIG proposes any excuse for this payout, then frankly, the bonus system there is severely broken and needs immediate repair.
- Those who demand bonuses in this environment should have their employment terminated.
- Any Government-installed management team who defends this practice should be removed.
Let there be no question – those in oversight, and those immediately involved with the largest corporate loss in U.S. history should be fired immediately.