It seems that AIG execs from the insurance division (not the financial products division that sank the company) went on a retreat to the tune of $440K after the bailout. Of course this has a bunch of Congressmen who probably never worked for a corporation hopping mad.
"Average Americans are suffering economically. They're losing their jobs, their homes and their health insurance," House Oversight Committee Chairman Henry Waxman, D-Calif., scolded the company during a lengthy opening statement. "Yet less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of the most exclusive resorts in the nation."
Of course Waxman has never run a company whose execs could jump ship at any moment because their stock options are now underwater. Yup, upon looking at Waxman's background we can see the truth. He was a lawyer for 5 years then California Assemblyman then Congressman for 30+ years.
It is called a reward for staying with AIG Mr. Waxman. Sometimes you have to do that stuff in order to keep your senior staff from taking off when things get dicey. Now that the country is long 80% of AIG maybe you can try your hand at running the company.
No comments:
Post a Comment