AIG, which received $60 billion in taxpayer funded bailout money, for making incredibly stupid business decisions, has now decided that it will give "retention" bonuses to 130 managers as "cash rewards." Included in these cash awards is a $3 million bonus to the head of AIG retirement services, Jay Wintrob. This announcement came 1 day after AIG said it would not give annual bonuses to executives. Nicholas Ashooh, spokesman for AIG, explained: “We’ve said they aren’t eligible for annual bonuses, and they’re not ... What we’re talking about are retention agreements ..."
How can you disagree with logic like this?
I think I'll play this game with all my creditors. "Hey, I'm not going bankrupt ... I'm just not going to pay you anymore."
- Mark
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