“…mistakes were made at AIG at a scale few could have imagined possible…”
Uh, yeah, a scale so big that the fuck-ups who ruined the company are considered “good guys” for lowering their obscene bonuses to $100,000, which, last time I looked, was about TWICE THE MEDIAN ANNUAL INCOME IN THIS COUNTRY.
This country has gotten to a point where privilege and wealth are considered rights, not responsibilities, and SOME PEOPLE NEED TO GO BROKE, AND SOME PEOPLE NEED TO GO TO JAIL.
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By the way, Mr. Liddy, nice try, but there were plenty of people who could, and did, imagine the scale of this clusterfuck. But the guys at AIG and the big corporate banks didn’t care. Why? Because we have arrived at the nonsensical point in our capitalist history where we pass the risk on to the taxpayers, and the rewards go to the filchers and grabbers and unethical greedheads who were willing to shamelessly give themselves bonuses after they’ve run the company into the ground. The laughable notion that we have to spend these ridiculous “retention bonuses” so that AIG will somehow miraculously pay back the nearly 200 billion dollar handout the’ve been given is akin to “we had to destroy the village in order to save it”.
If there is such a good likelihood that AIG is going to be able to repay the US taxpayers, then why not make all bonuses contingent upon that fact? They can have their bonuses as soon as we’re all paid back — and if they can’t manage to pull off that magic trick, then they can join the rest of us in the unemployment line. But of course that would never happen, more likely these folks would just have to sell their vacation homes to raise some cash and ride this depression out.
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