AIG Cuts Salaries, But To Pay 100M Bonuses

"But the chairman Edward Liddy says AIG will still pay multi-million dollar bonuses for 2008 because the Government does not have the legal authority to block them," reports ABC/AFP.

Note this part that says "government does not have the legal authority..." Now that is outrageous, isn't it? It's not about the legal authority, it's about some moral authority on your part AIG. We gave you 270 billion dollars while we can't pay our mortgages so you can keep standing on your feet, but now you are giving 100 million away because the government "does not have legal authority?"

I am speachless.

Let's see how angry people are in the media. This is what they discuss in Twitter.

AIG to pay $100M in bonuses? There should be rioting in the street. So appalling... writes pnts. Martinboz writing to Sunfell says "This is how revolutions get started. We need to put pressure on Obama and AIG both to give that money back to us."

It is wrong, wrong, wrong for AIG to have gotten government bailout money and yet give $165 million in bonuses, expresses her anger cassady2euca. Although, according to BBC report, AIG is to cut the future bonus payments. The current bonus payments are "contractually obligated."

Well, was the government or the taxpayers "contractually obligated" to bailout AIG? Not at all. So what are they talking about? How is this right when hundreds of thousands of Americans whose tax dollars when to feed AIG by bailing it out are now jobless and the job losses coupled with foreclosures still loom in the country.

These bonuses are like more negative news about AIG and sound very disgusting. In his letter to the Treasury, Mr. Liddy said A.I.G. hoped to reduce its retention bonuses for 2009 by 30 percent. He said the top 25 executives at the Financial Products division had also agreed to reduce their salary for the rest of 2009 to $1. Anyway it's still very bad an it's like AIG is laughing on the society who gave them the bailout.

What a slap in the face of the taxpayers. Seems that we bailed out AIG's corporate greed not the economy.

It's our money!