This was published in the New York Times today:
Rough summary: An executive vice president from AIG worked in a totally unrelated part of the business when everything went bad.
He, and all the other executives, were told to accept a salary of $1 and were told they would be compensated in
March 2009. After months and months of working 8-12 hour days for no money (and having been reassured multiple times
that their contract would be honoured), the AIG employees got screwed over. Hours before meeting with Congress, Chairman Liddy decided to denounce their
contracts and say that they were unfair and unjust and stuff, completely backstabbing the entire division.
You'd think I'd get sick of being right all the time, but this is what I'm talking about.
If we accept the fact that executives make a ton of money and don't quibble about the amount he was supposed to
receive in the bonus, I think we can all agree that Liddy accepting and supporting these bonuses for months
and then denouncing their bonuses because of fear of the ignorant, uninformed or misinformed masses
drinking socialist Kool Aid is hardly fair.
It's amazing how easy it is to create public outrage by omitting half the information.
© 2009 by Dr. Jeebus