Some suits never learn. Insurer AIG, who accepted more than $170 billion in bailout money, wants to spit in taxpayers’ eyes by giving about $165 million in bonuses to their 50 top executives. The same guys who achieved Corporate America’s biggest loss in history — $61.7 billion in 4Q2008.
AIG claims their hands are tied because the incompetent execs all have contracts. They’re too stupid to do their jobs, but apparently smart enough to sue for money they know they don’t deserve.
Here’s how I see it: If you bankrupt your company, screwing your stockholders, employees, and customers, all bets are off. You can wipe your butt with that contract.
Here’s how we fix things: Taxpayers now own 80% of AIG. Step 1: Fire those guys. Step 2: Prosecute. To hell with “setting dangerous precedents.” Some dangerous precedents are exactly what we need because these crooks have no fear of repercussions.
Right now, the sight of Armani-clad executives being hauled off to prison in shackles would do for American consumer confidence what the sight of Marie Antoinette’s head in a basket did for peasants during the French Revolution.
Let ‘em spend the rest of their days pounding big rocks into gravel, which they can spread in chain gangs on some of Obama’s road improvement projects. They’ve already proven they’re not cut out for desk jobs.
These Wall St. wizards obviously still don’t get it, and the only thing nobody has tried yet is roughing them up and demanding accountability. What are we waiting for?