Earlier today somebody sent me a video clip of a news account of CitiGroup and AIG reporting on the huge bonuses given to top executives. I think that's the same CitiGroup that put thousands of people out on the street not too long ago, and AIG has already had a small "reduction" with more to follow at any moment. Of all those people that were sent packing, how many of them do you think actually had an active role in the daily operation of those companies? Do you think they made key decisions regarding the direction that either of those two companies would take? My guess is no, that they were just ordinary people doing their jobs as instructed. So if they didn't cause the problem, why were they let go? And the senior executives that did make the decisions that resulted in financial chaos, why are they being rewarded for their stupidity? AIG said their bonuses were to keep the top executives from leaving and going to other companies. Considering the bang-up job they did I think I'd actually prefer them working for my competition! And it's more than these two companies, but they were brought to mind today so they win. I don't think you'd have to search very far to find people that think there's something fundamentally wrong with this. How about if we bring the little people back and whack all the top executives? The average person apparently has a better idea of right and wrong and it sounds like they'd also have a lot more common sense! And the companies would probably still save money!
And while I'm at it, what the hell is an "orderly bankruptcy"? Do they all march out in single file? If this wasn't so sad it would be hilarious.
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