The Auto Economy

Just another autos.fyi site

Anger Increasing Greatly

The government has given $170 billion of your dollars to AIG to stabilize them.

Angry yet?

For that $170 billion, the government owns 80% of a company worth $4.33 billion as of this writing.

Angry yet?

Via the New York Times – Andrew Cuomo sifts through the bonus payouts for AIG employees. From the $165 million in bonuses paid, 73 people received $1 million or more.

Angry yet?

The bonuses were “retention” bonuses designed as incentives for the recipients to remain with the company. Eleven people who received such bonuses over $1 million are no longer with the company. One person was paid $4.6 million as a retention bonus. He/She is gone.

Angry yet?

If not, what’s it gonna take?

Oh yeah…. the CEO suggested that up to half of each bonus be voluntarily given back.

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