Thursday, March 26

Dear A.I.G., I Quit!

An A.I.G. executive printed his resignation in the New York Times yesterday. It's a great perspective from the other side of the story.

It's a shame what these employees have had to endure for simply doing their job. I applaud Mr. DeSantis for taking the money and giving it to charity, however, I wouldn't have blamed him for keeping it either.

5 comments:

Jeff said...

This is a classic case of media-driven controversy, with no regard for context. It's a cheap, easy story for the news media to generate hype and stoke the flames of outrage (aka, increased viewers/readers). It's made worse by politicians who are too afraid of pitchfork-wielding mobs to defend the payouts. Granted, it's hard to have sympathy for people getting millions of dollars from a publicly-funded company, but there are a lot of reasons why the company may have felt it needed to make those deals. Plus, a contract is a contract, unless I guess the media mob says otherwise.

happyathome said...

Again, a publicly held company that made bad decisions and the government bailed them out for it. What about accountability? None here, you can just ask for money from the government and they will get you back to making more bad decisions because there are no consiquences!
I have no blame for those workes, they were doing their job and if a bonus was a part of their job, that was the companies decision. Good for them giving the money back or donating it being 'we' are paying their bonus now and for MANY years to come.

Jeff said...

happy,
Why do you assume the AIG payments were a bad decision?

happyathome said...

Jeff,
I don't think anywhere in my post I said that AIG payments were a bad decision.

expol said...

The Congress made the bad move by giving the bailout money without a commitment from AIG that no bonuses would be paid until AIG was profitable once again and that the bailout money had been repaid.

The problem is not AIG but the Congress. We will never be able to un-elect enough of them to make a difference. Even if we did un-elect some, the new ones would revert to the mindset of their predecessors. The only solution is term limits. Let's make that a priority.

 

blogger templates | Make Money Online