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Here's an interesting video from ABC News regarding AIG's bonuses.
*I can't figure out how to embed ABC News' videos... so, here's a link.
**Clicking this post's title should also work.
>>Click Here for the Video<<
Wednesday, March 18, 2009
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So here is how I see it. AIG was about to go under, and in order to prevent this we gave them a whole lot of money to put the company back together and prevent it from colapsing. Personally I think it would have been nice if the money was used to pay off debts and any bad loans that hey took, or maybe even paid all of their employees a small bonus instead of giving some of their employees a large bonus. So, what AIG decided to do with their bailout money was in no way ideal, and it was stupid of them to think that they could get away with it without severe criticism. However, I imagine everyone working for AIG was under incredible stress to keep the company afloat, and that those at the top of the company were under the most stress. So one could argue that they had to work very hard to get the government to give them the bailout money, and that they decided that their hardwork was worth a reward, a bonus you could say! It isn't perfect, and it was a little naive of them to do it, but this is the way things are, and you could argue that their is now more money in these 400+ people's pockets to be circulated in the economy.
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