ASSI - There is enough blame to go around regarding the misuse of the bailout money that AIG received from the government. Is it a surprise that AIG would dole out $165 million of our tax dollars to pay for bonuses? Not at all! AIG is the same company who treated employees to several lavish retreats at our expense. Republicans and Democrats must hold AIG accountable and figure out if taxing them is the most advantageous way of recouping the funds. AIG has justifications for all of their questionable expenditures, but how do you justify paying 11 former employees $1 Million dollars each due to contractual agreements, it seems the contract should have been null and void at the end of the employees tenure. Stringent stipulations should have been outlined in the bailout agreement to avoid AIG from exercising some of the same practices that landed them in this mess in the beginning. AIG had the audacity to remove the company's name from their Head Quarters to protect employees who received million dollar bonuses from struggling tax payers, who are unemployed, lost their homes, and are unable to send their children to college would have loved to receive a third of the 85 billion dollar bailout money to improve their standard of living. Who should be blamed for the misuse of the funds: Senator, Chris Dobb; Congressman, Barney Frank, or Secretary of Treasure, Timothy Geithner for not reading the terms of the bailout agreement? As I see it, it is unacceptable for AIG to use government funds for anything other than to ensure the company stays a float operationally.
Friday, March 20, 2009
The AIG Blame Game
ASSI - There is enough blame to go around regarding the misuse of the bailout money that AIG received from the government. Is it a surprise that AIG would dole out $165 million of our tax dollars to pay for bonuses? Not at all! AIG is the same company who treated employees to several lavish retreats at our expense. Republicans and Democrats must hold AIG accountable and figure out if taxing them is the most advantageous way of recouping the funds. AIG has justifications for all of their questionable expenditures, but how do you justify paying 11 former employees $1 Million dollars each due to contractual agreements, it seems the contract should have been null and void at the end of the employees tenure. Stringent stipulations should have been outlined in the bailout agreement to avoid AIG from exercising some of the same practices that landed them in this mess in the beginning. AIG had the audacity to remove the company's name from their Head Quarters to protect employees who received million dollar bonuses from struggling tax payers, who are unemployed, lost their homes, and are unable to send their children to college would have loved to receive a third of the 85 billion dollar bailout money to improve their standard of living. Who should be blamed for the misuse of the funds: Senator, Chris Dobb; Congressman, Barney Frank, or Secretary of Treasure, Timothy Geithner for not reading the terms of the bailout agreement? As I see it, it is unacceptable for AIG to use government funds for anything other than to ensure the company stays a float operationally.
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