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March 16, 2009 - Jim Smith
The federal government has given AIG about $170 billion to rescue the failing business only to see it pay out $165 million to its top executives as "bonuses."
Bonuses for what ... driving the world financial giant into bankruptcy if there hadn't been a taxpayer bailout? The latest bonuses are part of $450 million in total payouts by the firm to its "leaders."
President Obama calls it "recklessness and greed." I called it arrogance, corruption, total incompetence and borderline theft of public money.
The alleged "contractual agreement" with the bonus-awardees should have disappeared when AIG accepted federal taxpayer money.
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