In bailout news, the taxpayer-rescued insurance giant AIG has admitted it continues to offer multi-million-dollar payouts to senior employees. According to Bloomberg News, AIG has offered payments of up to $4 million in what it calls a “retention” program for top managerial workers. But Democratic Congress member Elijah Cummings says the so-called retention payments could be a way of paying out bonuses. AIG’s taxpayer bill stands at over $152 billion.
Well first of all, these managerial workers should be fired anyway. If AIG is in the deep water, its the result of bad policies in place. Reward for excellence not misleadership.
