American International Group – aka AIG – aka American Feeding Trough of the Obscenely Wealthy – has been amongst the largest beneficiaries of the US Government’s bail out plan. But even in this time of global economic catastrophe the scale of the package thrown AIG’s way is staggering. $168 billion, to be precise. That’s BILLION. With a B. Taxpayers money all of it. Taxpayers who, thanks to rich guys in suits driving American institutions like AIG off a cliff, have lost their jobs and their retirement funds.
So if you’re one of these said rich guys and have recently slacked your thirst by drinking so deeply from the well of capitalism that it has dried, cracked and shattered, what do you do when the government hands you the biggest novelty cheque anyone has every written to be put towards trying to prop up the company whose complete destruction you have so ably overseen? Well, if you work for AIG you hand out performance bonuses to you and your mates valued at around $AUS168 million.
Um…are they serious?
Yes, you know they are. The top executive bonus this week was over $6 million, with at least a half dozen more pocketing over $3 million. Try to imagine the feeling of being a US taxpayer who has no employment left and just the smouldering ashes of their once healthy looking retirement fund having to foot the bill for those responsible for it all whilst they still lavish themselves with obscene bonus fees. Lucky there ain’t a whole lot of guns in the Home of the Free, isn’t it?