Friday, March 20, 2009
Kotz / The Economy Can Anyone Muster Sympathy for AIG Execs?
Posted by Pete Kotz on Fri, Mar 20, 2009 at 2:33 PM
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They may be America's great unloved, on par with lawyers, politicians and pedophiles. So is it possible to have sympathy for AIG executives?
The New York Times attempts to do so, or at least provide a glimpse of what life is like for these newly minted reprobates. It involves protests outside your spacious Connecticut home, bus tours of executive manses, bomb-sniffing dogs for hire and neighbors cursing your very existence. In the wealthier regions of New York and Connecticut, the private security business is booming.
On one hand, it would seem the natural and proper remedy for wealthy welfare queens sponging one last time on the public dime. Then again, don't you feel just a little sorry for these guys? Or are we at the Mighty Pith just turning soft?
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The guys getting the bonuses are the ones who were persuaded to stay to help clean up the mess. The pirates & raiders have already left or pushed over the side.
These guys were told, "If you stay, we'll pay you a bonus in 2009." They stayed.
The $170 million is 1/10th of 1% of the amount loaned to AIG (which it looks like AIG may very well pay back over the next 3-5 years).
But everybody feels better with scapegoats.
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Posted by
RedHatRob
on 03/20/2009 at 7:55 PM
