Monday, March 23, 2009

AIG Sets Deadline for Bonus Return

Via Time:

AIG management has asked employees to let them know by 5 pm ET Monday whether they plan to return all or part of their retention bonuses.
You hear that? That's the sound of AIG's best talent polishing their résumés before they fly out the door toward businesses not subject to punitive taxation.

What is the point of bailing out a business that you're just going to destroy anyway? Populist policy is cancerous to business, prosperity, and common sense. It is, essentially, "mob rule."

This is not to be confused with "the mob" in the organized crime/mafia sense. This is because when the mafia drives a business into the ground, it has the sense to make a profit for itself. No, this is the torches and ropes kind of mob that reflexively destroys without thinking.

Consequences be damned, they must be punished!

1 comment:

mls gta said...

How many politicians made political capital from this scandal? It makes me sick just thinking about it.

As if AIG was the only company in America to pay bonuses out of the governments money. As if the 450 million bonuses money was the worst loss the government was facing.. watch this video if interested: http://themessthatgreenspanmade.blogspot.com/2009/03/ron-paul-on-aig-bonuses.html

Take care,
Julie