AP - Joining a wave of public anger, President Barack Obama blistered insurance giant AIG for "recklessness and greed" Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in federal bailout money. "How do they justify this outrage to the taxpayers who are keeping the company afloat?" Obama asked. "This isn't just a matter of dollars and cents. It's about our fundamental values."
Saw this on today's yahoo sign-on page:
AP - Senate Democrats vowed Tuesday to all but strip AIG executives of their $165 million in bonuses, as expressions of outrage swelled in Congress over eye-catching extra income for employees of a firm that has received billions in taxpayer bailout funds.
Here's a link to AIG's homepage: http://www.aig.com/Home-Page_20_17084.html and here's their contact information: Contact AIG by email or phone Call M-F 6am-8pm ET USA: 1-877-638-4244 Worldwide: +1-908-679-3150
I realize that a lot of people depend on AIG for life insurance, auto insurance, retirement services, relocation, investments, etc. I get that, and I get that it would be horrible for AIG to go out of business.
I also realize that according to some, the bonuses mentioned above were promised, and therefore, AIG is contractually obligated to give out those bonuses. Question: can't the people who are contractually obligated to receive the bonuses... REFUSE THEM? I'm thinking that even if they can't refuse the bonuses, it would really behoove these executives to return the money to the company. Some way. Some how.
Come on, AIG. Do the right thing. Stop wasting MY money.
As for everyone who does business with AIG, look into moving your business elsewhere. If clients disappear, AIG will be forced to close its doors. Yes, I'm also thinking about the employees like secretaries, accountants, file clerks, maintenance, etc. - the people who really run the company. Wouldn't it better for them all to look for new jobs now, or for a nice competitor of AIG to hire all the employees carte blanche.
President Obama: We expect you to handle this.
Senators: Yes! Absolutely STRIP these AIG executives of their bonuses and anything else you can.Just my uninformed opinion, but I'm furious about AIG. Aren't you? Vikki
UPDATED March 18 2009 at 6:15 AM: Can American Taxpayers bring a class action lawsuit again AIG for misuse of taxpayer funds?