Sunday, March 15, 2009

AIG Bonuses are an outrage

The economy is in recession and the taxpayer is bailing out yet another company. Recessions happen, but the culture of excess needs to stop right now. Sorry, but there is a time for bonuses and when your company is being bailed out and laying off people it is not now. The executives are already over compensated and need to tighten their belts just like the rest of us.

The excuse that the company needs to retain talent is BS. Most of these corporate clowns got to where they are by the old buddy system and are replaced quite easily.

I would sooner save a secretarial or mail room job than pay these outlandish bonuses to people who are already overpaid.

3 comments:

FJ said...

et tu beakerkin?

beakerkin said...

FJ

The business cycle is going bust. I am ever the sane Capitalist. However, what we have is cronyism on the public dime. These people are not top talent. If they were top talent their companies would not be in the shape they are in.

Paying huge bonuses while companies are being bailed out and staff is being cut is an outrage.
Let Muffy and Biff spend less at the country club.

The Pagan Temple said...

Yeah, that business about having to pay top dollar for good talent is a load of shit, what they are really saying is we need to pass the dough around and scratch each others backs because we need to keep the right people on our side to watch our backs for when our turn comes to raid the cookie jar. This has been a criminal conspiracy on steroids, and the only bonus any of these clowns deserve is life at hard labor as opposed to two or three years at a guarded country club resort, which is about the most these clowns typically get what few times they are caught.