This post was made by Keval.
I do agree with his opinion.
Many of the tax payers do not agree on having government to bailout troubled financial institutions with their money.
Here are the statistics on the supporters of the bailout.
http://www.rasmussenreports.com/public_content/business/federal_bailout/only_28_support_federal_bailout_plan
However, government is practicing a heavy bailout program.
AIG's opinion on the huge executive bonus payout was to retain their human capital.
However, the executives who recieve these payments are not obligated to stay in the company.
In fact, 11 of the people who recieved the bonus does not even work for them anymore.
http://seymourherald.com/opinion-columns/2009/mar/21/bonuses-for-failure/
I would have to say this is wrong.
Company must demonstrate sound performances in order to gain back the reputation which once they had.
Why would they spend the money that are derived from the U.S citizens to something that would create an additional upheaval?
The money should be spent carefully in order to keep the company in business and only for that sole purpose.
And of course, many of AIG employees themselves are upset about the decision.
Some of the AIG workders even shows up on the news to present their ideas on how they are against this wrong payment program
Some of the bonuse recievers agreed on refunding the money which they have recieved.
Whether the decision is made upon individual agreement or not this is the least they can do to show respect to each of the U.S tax payers.
http://www.cbsnews.com/blogs/2009/03/23/business/econwatch/entry4886952.shtml
It is cruel that those people who worked hard for the company without executing a single wrongdoing would bear the risk of having a bad reputation among the public.
Monday, March 23, 2009
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