All the news has been keeping us informed about the $165M in bonuses that AIG paid to current and former employees. From all the media reports the bonuses are not recoverable but they continue to tell us what the government says they're going to do.
What all this amounts to is confirmation that our government had their eyes closed! Media has reported that Barry's administration knew about these bonus contracts as early as last September but shouldn't have been expected to remember this because, after all, they went through an election and inauguration. Okay, I'll give Barry that. Why didn't they insist on conditions before paying AIG $170B? Why didn't Congress insist on conditions? Could it be that Rep. Barney Frank and Sen. Chris Dodd are just as corrupt as the management of AIG? That will be the topic of a future post.
Anyway, hasn't the media done a good job of keeping our attention on the $165M in bonuses? That is just what the Barry administration wants. Concentrate on the payment of unfair bonus instead of the $170B in taxpayer money given away and the 80% ownership of the taxpayers in the company. Pertaining to AIG, we should be focusing on why $60B was paid to foreign countries like the United Kingdom, France and others and what was done with the other $110B. And the fact that no more money should be paid to AIG!
If we must spend our time trying to recoup the bonuses that are contractually legal then here is a simple way of applying some pressure: make the names of the recipients public. After all, we own 80% of the company; with an 80% vote we should have the authority to disclose the information.
The point of all of the above... Let's not lose focus on the real issues which are not the bonuses. Obviously, the real issue is the administration's and congress' out-of-control spending of our money. None of us want our grand childrens' grand children paying back the trillions of dollars being spent which is probably what is going to happen, now.
Forget the bonuses; FOCUS ON THE BIG PICTURE... the out-of-control administration and congress!
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