Last week I asked readers what they thought of the bailout deal that would see AIG use $165 million of its bailout money to pay bonuses to the executives of the creaking financial institution. Eighty per cent of you agreed that the plan was “despicable”. No one thought the executives deserved that kind of reward.
“Irate in Calgary” offered his thoughts: “It’s more a symptom of how out-of-touch this company [AIG] has become that it thinks its entitled to money anyway. That absolute power corrupts absolutely may be a major contributing factor in how they allowed this mess to develop. And it is taxpayers money, not theirs. If they make a profit, they’re entitled to do what they want with it. This was a handout. It should have been stipulated not for use on drugs or booze or paying bonuses to high-flying executives.”
For the record, 20% of CMJ readers wished they could get in on such a sweet deal as the AIG bonuses.