Mar 16, 2009
Taxpayer Bailout Money Fattens AIG Bank Accounts
$450 million of American taxpayer money is slated to go to bonuses rewarding executives of the failed, American International Group. AIG took no higher moral stance than any other bailed-out company in refusing to award merit-based year-end bonuses to those who contributed to their companies' downfall.
"It's in their business contracts," said National Economic Council President, Larry Summers (of "Women aren't smart enough to succeed at math and science" Harvard Pres. infamy). "Government can't do anything to stop them," he exclaimed, while rolling over and revealing his pale yellow underbelly.
Now Obama administration officials are worried about a backlash, yada, yada, yada. Well, damned right, they should be worried about a backlash. Financial industry executive bonuses are designated as merit-based. No merit equals no bonus, right? Doen't FAILED COMPANY = No bonus? Doesn't U.S. Taxpayers Have to Bail out Your Sorry Butts = No bonus? Is there justice to be had? In out country's history, such reprobates would have been put in wooden stocks and spat upon. In the 21st century, while the country is falling into abject economic disaster, they receive piles of said victims' money.