Madness At AIG…And Citi And…

Why do you need to pay retention bonuses when the financial market is melting down, the economy is collapsing and jobs are disappearing faster than the Brazilian rain forest…so we get the following:

AIG to pay $1 billion in Retention Bonuses

AIG (AIG), whose fourth-quarter loss was the worst in corporate history, earmarked $1 billion in retention pay for about 4,600 of the company’s 116,000 employees so they won’t leave the crippled insurer.

Liddy has vowed AIG will repay “every penny” to the US for its bailout package by selling subsidiaries, and said the retention pay for talented people helps taxpayers by making the units attractive to buyers

Where would these “talented” or is it “tainted” individuals go? There are no sucker financial institutions on Mars. How would you like AIG experience on your resume and you left because they wouldn’t pay enough for your services. Insanity.

Every home-owner or car owner who has been foreclosed or re-possessed would like the same deal as AIG and would promise “to repay every penny”…Too BIG TOO FAIL” indeed.

The surprise is these people haven’t been strung up through a middle-class revolt - as yet.

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