Tuesday, November 25, 2008

Say It Ain't So.......

It's apparently not entirely self-evident that when your company needs a taxpayer bailout you shouldn't get a "bonus," so money-sucking insurer AIG has written a letter to NY Attorney General Andrew Cuomo promising that their top executives will not get bonuses this year.

In the letter, AIG says they are "extremely grateful" for the support they have received from taxpayers, and as their way of showing how "prudently" they are acting, they will not be giving bonuses to their top seven executives. The rest will get bonuses, but won't be getting a raise this year.

They also promise that they are "developing" a way to insure that no taxpayer dollars are used for bonuses for the top 60 executives in the future.

Cuomo reacted favorable to the news, says ABC. "From The Consumerist"

I'm hoping the above will be debunked by "Snopes" but I have a feeling that it won't because as we've seen before "fact is stranger than fiction".

Thanks AIG for promising not to use any taxpayer dollars for executive bonuses & thank you again for not presenting your top 7 executives with any bonuses.

The only thing these folks should be presented with is a "Pink Slip". Unbelievable the executives that should be held accountable still have jobs - with great power comes great responsibility.

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