Christ's Take on AIG
Here are the facts about the AIG bonuses as I have been able to ascertain. AIG received over $170 billion of federal bailout money to stay solvent. The company used $165 million (now their saying $218 million) to fulfill contractual bonuses to over 400 employees ranging from $1000 to $6.4 million per individual. The Stimulus Bill passed earlier this year included an exemption crafted by Chris Dodd and the Treasury department to permit the bailout money to be used for such bonuses. News outlets have had plenty to talk about since the bonuses were revealed. The bonuses have incited public outrage. And finally, most Americans don’t even know what AIG stands for. OK, I can’t actually substantiate this last fact, but I have a feeling its true. Public outrage has in fact turned quite ugly. One person e-mailed the company stating, "All the executives and their families should be executed with piano wire — my greatest hope." Another person suggested publishing the names of those ...