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Wednesday, February 03, 2010

AIG to Pay Out 100 Mil in Bonuses

Next thing you know, bailed-out corporations will be assigned their own saints by the Roman Catholic Church. Like St. Henry of Wall Street, patron saint of sociopathic dirtbags like AIG.

Because this is exactly what I needed to hear so soon after a close call at the end of last month when Mrs. JP and I couldn't pay our rent or buy food.

The 100 million in bonuses is going to their financial products division, the same one whose risky derivatives high wire act made the company topple and safely land in the safety net provided by Mr. and Mrs. John Q. Public (a personal aside: Isn't the financial product division a misnomer since they, you know, don't actually produce anything besides mountains of debt?).

And if that isn't enough, get this: In a few months, AIG will hand out several tens of millions more in bonuses to employees at the same division. About the only way in which AIG has suffered is that some of the scumbags who got the company in hot water (and sent them to our front doors with their grubby paws held out) chose to opt out of a certain agreement or take a 20% pay cut just had to wait a little longer for their bonuses.

But let it not be said that AIG doesn't know restraint: originally, they wanted to pay out $120 million until they were impotently barked at by Congress.
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Anonymous Anonymous said...
If this is by any notion a law abiding country, then whatever happened to the term "crooked thieving bastard?"

Let's have calling cards printed up and sent to every one who works for AIG with exactly that job title.

Won't do any good, but...........

Anonymous invisible said...
President Obama recently urged us to spend our vacation money rather than college funds to blow money in Las Vegas. Or something.

"When times are tough, you tighten your belts," Obama said, according to a White House transcript of his appearance Tuesday at a high school in North Nashua, N.H.

"You don't go buying a boat when you can barely pay your mortgage," Obama said. "You don't blow a bunch of cash on Vegas when you're trying to save for college. You prioritize. You make tough choices."

Personally, I think Las Vegas is the land of hell-on-ice. It shouldn't even exist. But it sure is paternal of our prez to care about where we spend our dough, aint it?