AIG Bonuses
I'm not saying don't pay bonuses. But don't be disingenuous about the reasons.
For you to say that there is competition for these people is fine... then let the competition take place. If a company is currently in a stronger position than AIG and can recruit away their people, then I don't see why the government has to be involved in helping AIG ward off the competition.
My impression of this situation was that the government aided AIG to ward off systemic risk that would be brought about by AIG not having the time to think through and make the hard choices that are required of their business. The government's money gave them time to start making those hard choices, and I'm not really sure I see any being made.
As an aside, this supposed public outrage about the AIG bailout money going to other financial institutions like GS is a public display of ignorance. Who did they think were counterparty to AIG's billions in transactions?
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