Only in America is failure rewarded: AIG executives to receive $165 million bonuses for losing trillion of dollars
It’s an outrage that American International Group executives expect to receive huge bonuses — of more than $165 million — for such ruinous deals that taxpayers have had to prop the company up with $170 billion in bailouts.
If AIG succeeds in taking taxpayers for fools, the White House can kiss future bailouts goodbye.
President Barack Obama said Monday that the Treasury Department would “pursue every legal avenue” — short of going to court — “to block these bonuses and make the American taxpayers whole.”
Why not take AIG to court? Why is the White House so respectful of executives who lost tens of billions of dollars and threatened to take Wall Street down with them? Won’t this restraint set a precedent for future pirates who want to divvy up taxpayer booty?
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