OK, everybody hates AIG. We get that. One of their business groups played a huge part in the financial crisis that is currently burning its way through the American economy and culture. We get that, too. The executives doing this signed contracts with the company that gave them bonuses for reaching certain figures. They did what they needed to do for those bonuses to kick in and the company was obligated to pay. Take away the outrage, look at it objectively, and that is what it all boils down to. These executives did what they were contractually obligated to do and, in return, so did AIG.
The AIG Bailout Morass
We could go on to discuss the fact that it was Congress and past administrations that made it possible for AIG to do what it did. We can talk about the bonuses paid to the executives and Fannie and Freddie (where is Barney Frank’s outrage over them?) and we can talk about Chris Dodd trying to slip in legislation that would have allowed the executives to kee...
By Charles M Cooper ยท March 19 2009
taxes, aig, bonus
