Next thing you know, bailed-out corporations will be assigned their own saints by the Roman Catholic Church. Like St. Henry of Wall Street, patron saint of sociopathic dirtbags like AIG.
Because this is exactly what I needed to hear so soon after a close call at the end of last month when Mrs. JP and I couldn't pay our rent or buy food.
The 100 million in bonuses is going to their financial products division, the same one whose risky derivatives high wire act made the company topple and safely land in the safety net provided by Mr. and Mrs. John Q. Public (a personal aside: Isn't the financial product division a misnomer since they, you know, don't actually produce anything besides mountains of debt?).
And if that isn't enough, get this: In a few months, AIG will hand out several tens of millions more in bonuses to employees at the same division. About the only way in which AIG has suffered is that some of the scumbags who got the company in hot water (and sent them to our front doors with their grubby paws held out) chose to opt out of a certain agreement or take a 20% pay cut just had to wait a little longer for their bonuses.
But let it not be said that AIG doesn't know restraint: originally, they wanted to pay out $120 million until they were impotently barked at by Congress.
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