AIG - "pigs at a trough"

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AIG is giving your money to its executives. 500 million!

November 14, 2008 07:37 AM EST (Updated: November 14, 2008 07:40 AM EST)
views: 19 | comments: 4

It can't be true, but it is, according to a brief story on NPR this morning. AIG, the supersized insurance corporation which bestrides the globe, plans to hand out deferred compensation checks to its execs in the amount of 500 million bucks.

What have they done to deserve this money? Well, first they got AIG so deeply involved in insuring risky financial instruments that they had to beg Henry Paulson for 85 billion out of the bailout money just to keep AIG afloat. They then got themselves back into the news by taking a spa trip that outraged a number of taxpayers.

I have to shake my head at this. The greed and folly is unreal, it is "pigs at a trough", as Arianna Huffington would say. ... Don't you guys have more pride than this? Is this the way you want to be remembered?

Or is it maybe that you have concluded that there is no way for AIG to avoid bankruptcy, and you are grabbing some of the money before it all evaporates?

http://www.gather.com/viewArticle.jsp?articleId=281474977506508&grpId=3659174697244816&nav=Groupspace

This reminds me of the auto companies. Who will buy their cars? One last dying grasp for money from overburdened taxpayers?

Who will lead them to profits? Same leadership that took them to the pit?

It's ok...rich people can afford to pay more. No need to work in the new administration.