Subscribe to Moronmeter!Neal Boortz a Little Off-base on the AIG Bonuses?
Neal Boortz has an interesting bit on the AIG bonus kerfuffle. I don’t disagree with his points government spending. I do think he stretches it when he gets to his last paragraph:
Here’s the new reality my friends. Government can seize and spend as much as it wants where it wants and when it wants. The private sector? Not so much. God forbid a company should reward performance. Rewarding performance is something very foreign to politicians and they don’t like it. They’re used to punishing performance, not rewarding it. The private sector rewards performance and punishes failure .. just the opposite for Barney and his clown circus.
I don’t really think you want to use AIG, which lost nearly $100 billion ($99,289,000,000) last year, as the poster child for the statement “the private sector rewards performance and punishes failure.”
I understand that the bonuses/retention payments may only be going to people in divisions that were profitable for AIG, but as far as I’ve seen, AIG hasn’t provided any information indicating that this is the case, so I have to go on the assumption that executives in the parts of the business that tanked are getting a nice government provided bonus. I didn’t want the government to bail them out to begin with and I sure as heck don’t want to give bonuses to the people who lost $100 billion dollars.
I guess those “employee-retention payments” that AIG Chairman Edward Liddy talks about could have been tied to how much money AIG was able to lose in a year. If that is the case, then all those AIG executives really performed well last year.
Huzzah, AIG Execs!
Link:
THE AIG BONUSES – Nealz Nuze on boortz.com.
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