Funny Money
Friday, March 20th, 2009Like other Americans I was extremely disgusted upon hearing that the nation’s largest insurer, AIG, recently gave $165 million dollars in bonuses to some 400 of its employees. This was especially troublesome given AIG is the recipient of a $170 billion federal bailout. Prior to the bailout the American public was met with a media blitz declaring an economic apocalypse would ensue if the company - which holds life insurance policies for millions of Americans - were allowed to fail.
Strange math? How can a company needing $170 million to keep from failing, afford giving $165 million in bonuses? Now the government, which owns 80 percent of the company is rushing to pass (more…)
