The American Dream turning into the American Nightmare
The AIG "controversy" has incited a lot of discussion and rage among the public, as can be seen in this article below:
http://m.cnn.com/cnn/lt_ne/lt_ne/detail/266673/full
Here is what I don't understand. The reports are showing that these bonuses were in contract prior to the arrival of the new CEO and TARP money. So, essentially, we are getting in a huff because we gave money to this company with no strings attached (that was what the treasury secretary wanted) and AIG attempted to compensate their employees in the hope to keep the brightest minds at the institution. Sounds like we should be pointing the finger at somebody else in Washington.
We are setting these companies up for failure. Why would an executive want to stay at an organization that is restricting their salary? These executives aren't handcuffed to their company. If they don't like the compensation they are receiving, they can jump ship and go to another company. Then what? Who will run the company?
I'd be livid if the government decided ex post facto to tax me 90 percent. This is a florid sin our government is committing. It doesn't make me proud to be an American, right now. The American Dream is turning into the American Nightmare.
erik
http://m.cnn.com/cnn/lt_ne/lt_ne/detail/266673/full
Here is what I don't understand. The reports are showing that these bonuses were in contract prior to the arrival of the new CEO and TARP money. So, essentially, we are getting in a huff because we gave money to this company with no strings attached (that was what the treasury secretary wanted) and AIG attempted to compensate their employees in the hope to keep the brightest minds at the institution. Sounds like we should be pointing the finger at somebody else in Washington.
We are setting these companies up for failure. Why would an executive want to stay at an organization that is restricting their salary? These executives aren't handcuffed to their company. If they don't like the compensation they are receiving, they can jump ship and go to another company. Then what? Who will run the company?
I'd be livid if the government decided ex post facto to tax me 90 percent. This is a florid sin our government is committing. It doesn't make me proud to be an American, right now. The American Dream is turning into the American Nightmare.
erik
posted by Erik @ 8:18 PM
1 Comments:
At March 18, 2009 10:15 PM ,
Cherilyn said...
Good points.
AIG begged for this bailout. Perhaps they should have realized that they lost their freedom when they took the money. This is what is happening to corporate America, but it has its tightest grip on the small businessowner, who is feeling the pinch of this economy. We don't get the same bailouts the large corporations do, but we have to suffer for the indiscretions of Congress who caused this problem. And we've put them in the drivers' seat to solve it now? This is insanity. We have said goodbye to the free market. Join www.The912Project.com to get connected with a national movement positioning itself to respond in a principled-based way to turn it around and take it back.
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