Thursday, March 19, 2009

Those AIG Bonuses

John Hinderaker over at Power Line has some info on those evil bonuses which I haven't seen emphasized by our Solons on the Potomac:
* All of these payments, as to AIG's troubled financial products division, are retention bonuses, not performance bonuses.
* The money is not going to anyone responsible for the implosion of AIG--those people, who were in the credit default swap area, are gone.
* These retention bonuses were promised to AIG employees who are responsible for winding down the company's financial products division....AIG made a deal with these employees: if they would stay at AIG until specified conditions were met, i.e., either certain business was wound down or a given period of time had elapsed, they would receive a specified retention bonus.
So the bonuses were paid to the people responsible for shutting down operations for sticking with those dead end jobs until they were finished. They were paid not to take viable jobs elsewhere until the orderly shut down was finished.

The people who want to run our health care system don't care.

My question: Are they pretending to be outraged to pander to their ignorant supporters, or are they themselves ignorant about what they are paid to be knowledgeable?

Either way, they do want to run our health care system.

Perhaps the best thing Edward Liddy could do for the country is to tell the fools and charlatans in Congress and the White House for whom he is doing volunteer work is: "You don't deserve me. Take this job and stuff it." Then go on the campaign trail.

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2 Comments:

Anonymous Anonymous said...

Mock outrage. Pandering. Bread and circuses.

Thursday, March 19, 2009 at 10:29:00 PM HST  
Blogger TTB said...

Instead of fiddling -in the Neronian sense, rather than the Murtha, Dodd, et al sense- they are throwing gasoline on a fire they had quite a hand in starting.

Mock outrage, yes, but are they too stupid to see the consequences, or plenty smart enough?

Friday, March 20, 2009 at 5:56:00 AM HST  

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