AIG “Makes It Rain” on Their Employees!
Matt | On 03, Feb 2010
Yep, you’re reading right.
AIG, one of the main companies whose failure started our economic freefall, has announced their lavish bonus payout schedule for their employees. The total … a whopping $100 million in bonuses for employees in the Financial Products division. This is the same unit that sold the risky derivatives that messed up the company!! If you remember, AIG asked taxpayers for $180 million in loans and guarantees to prevent collapse.
Oh, and it gets better. The company is contractually-scheduled to pay out tens of MILLIONS more in bonuses in March to former employees. These contracts have to be honored, so there isn’t much they can do (or are willing to do) to stop the payouts. Current and former employees want their money. Forget the fact that the company pulled down their pants and USED America as their collective toilet! They just flush, wipe, and forget about us!!
How is it that AIG needed our help, yet they are still throwing the piggy bank at employees? What would have happened if the company just failed? Were their employees too good for UNEMPLOYMENT benefits?? Damn..