AIG can kiss my ass 165 million times

I am probably late to the table with this story, but this leaves me infuriated. It is no wonder AIG is floundering like a killer whale on the beach. In most companies bonuses are paid for good performance, or when expectations are exceeded. In my company it is unlikely I will get a bonus this quarter, not that I am doing a bad job, but because business sucks. At AIG you get a bonus even if you do a poor job, apparently:

"We cannot attract and retain the best and brightest talent to lead and staff the AIG businesses, which are now being operated principally on behalf of the American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury," [AIG Chairman Edward]Liddy said.

The best and brightest? These people made decisions that have lost the insurance giant billions and indebted our children's children's with nearly a trillion in debt. If this is the best the company can get, I submit the company would be better off if the employees quit in a huff.

The large bulk of the payments at issue cover AIG Financial Products, the unit of the company that sold credit default swaps, the risky contracts that caused massive losses for the insurer.

Maybe some of those people should lose their jobs. Good people lose their jobs every day when a company makes bad decisions.

Why isn't anyone concerned I will quit since my compensation has been lowered? My company will lose some of the best and brightest if I or a few others leave. Where is the widget industry bailout?

I do not want the Government telling anyone how much they can make. No bureaucrat should take the decision how much is enough. As far as I am concerned, the executives of AIG have perpetuated a fraud upon the taxpayers. They should be prosecuted just like DOD contractors that pad their overruns and the crooked managers at ENRON. What is the difference?

For a better take, go read this post by GuyK