Not that it should come as that much of a surprise given what corporate America has established as routine behavior in the 21st century, but Harry Reid has struck out a planned bonuses to AIG executives and management in the wake of a federal bailout for the company:
"As ordinary families struggle to make ends meet in this dramatic economic crisis, AIG's management nevertheless asks that taxpayer dollars subsidize the firm's employee-retention plan," Reid stated. "The $500 million plan would benefit the very AIG executives who led the firm to the brink of collapse. To reward executives with exorbitant paydays after poor performance, and to do so even indirectly with taxpayer dollars, strikes most Americans as fundamentally unfair and a misuse of their money."
The Washington Post had reported that AIG plans to dole out over $500 million to its top employees to keep them at the company. No word on why anyone would want to keep these losers.
So, if you are a complete fuck-up and run a company into the ground to the point of needing federal money to dig yourself out, you get a bonus? Where do I fill out an application?