I have stopped watching the news and now I am relegated to getting my news soley from the Internet. The reason for this change in behavior is that everytime I watch the news, I only find myself getting angrier and angrier. Sadly this is also the case when I read the news, but one can not put one's head in the sand.
Today, I came across this headline: "Insurance Giant AIG to Pay $165 Million in Bonuses". Does this make anyone else see red??? I mean, here AIG is, raking in $170 BILLION in tax payer dollars and they are using one tenth of OUR money to pay the executives who made the disasterous decisions leading their company to the brink of disaster BONUSES???
AIG says that they are "contractually obligated" to pay these bonuses. Failing to do so would have resulted in lawsuits, which is probably true. However, had the government allowed AIG to go into chapter 11 prior to the bailout, all bets would have been off. AIG would have had the flexibility to renegotiate their contractual obligations based on the reality of their finanacial situation. Instead, hundreds of employees who made poor choices are getting the benefit of our hard earned dollars.
Am I the only one who is angry here?
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