Thu 19 Mar 2009
Americans own 80% of some company called AIG, which I believe stands for Assets Instantly Gone. We’ve taken almost $200 billion of our taxpayer money and shoveled it into this black hole that has lost trillions.
Now these same inconsiderate American taxpayers are bellyaching because the brainiacs running AIG were paid a paltry $165 million in bonuses. We’re mad as hell and we want our money back!
What a nation of ingrates we are!
It takes brains, skill and dogged determination to mismanage funds the way these devoted AIG fatcats did. They did this all without much government oversight or regulation.
Now many of the same politicians who accepted financial industry lobbyist funds in election support, then passed laws to deregulate the industry so that companies like AIG could engage in risky speculation, are griping and finger pointing saying that AIG gambled foolishly and came up snake eyes. They say AIG is so enormous, we have to bail them out. Then these politicians get angry because AIG bigwigs are giving themselves a bonus bump for losing at the craps table.
Hey, if we want them to continue their excellent work, we’ve got to pay the piper. This kind of money-flushing costs money!
If we don’t reward these people, if we tried to once again place government regulations in place that would restrict risky speculative gambling schemes, this company could actually make money!
And if that happened, politicians wouldn’t have a boogie man to blame after they approved the bailout, our tax money would be spent on things that benefit society at large and our children and future generations would not have to live under the burden of gigundo debts to pay back. How’s that supposed to teach them character and grit?
$165 million is a drop in the bucket for all the benefits we receive from our AIG. This is our company, let’s do the right thing.
Maybe we should consider giving them raises, too.