Everyone’s talking about AIG. And the outrage over $165 million in bonuses paid to executives at the company. This was after AIG received close to $175 billion in federal bailout money and is at the heart of a global financial crisis. So all the brouhaha is understandable. No one has any clue why these bonuses are being paid.
Luckily for us, AIG CEO Edward Liddy was able to clarify some of these questions. Apparently, there are plenty of good reasons why AIG has to pay its executives these bonuses on time.
In Ed Liddy’s own words, the Top 10 reasons why the bonuses had to be promptly paid with taxpayer money-
10. “Tim Geithner owes you guys more in unpaid back-taxes. Deal with him first, will ya?”.
9. “The Execs threatened to defect to the Third Front”.
8. “Its paid out in Canadian dollars. Its a lot less than you think, really”.
7. “We took away their jets. At least give them this.”
6. “If we don’t do this, then the terrorists win.”
5. “We need to do this to retain the best and brightest talent, who just lost us 61 billion in Q1”.
4. “Yes, we can”.
3. “You cant hate us more than Bernie Madoff, surely?”
2. “Nawaz Sharif threatened to march into the Arabian Sea with his supporters”.
1. “AIG Execs are taxpayers too”.