Life doesn't get better than this if you are an AIG executive, frankly. Think. You work for the one of the biggest corporations in the world. You mismanage the company to the point where you drive it to bankruptcy. You are able to ransom the Government of the US, on the basis that if AIG sinks, a substantial portion of the international banking industry will collapse since it is so heavily linked to AIG. Effectively, you blackmail the government into giving you a US $ 180 billion bailout (yes, that's BILLIONS, not millions!!).
And then, as reported in rediff.com today, you give yourself a BONUS. Yes Sir. A Bonus!! Because talent like yours is hard to find and needs to be retained!! Of course!! So none of the leaders at AIG stop to think, without this bunch of losers we might have actually had a business going.
And now Obama has stepped into the act, fortunately. As the CEO of AIG's biggest shareholder (The US Government, in other words, the US Taxpayer) he has vowed to block the bonus payout through every means possible. Let's hope he succeeds.
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