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AIG Burns Taxpayer Cash, Gives $165 Million Out In Bonuses

Sunday, March 15th, 2009
Posted in Education by Joel Gross

People, why does no one ever believe me when I repeatedly say that government bailouts of private businesses is harmful in the short term and devastating to a free country in the long term?

One of the biggest recipients of the U.S. government bailout is the insurance behemoth AIG.‚  AIG has received $170 billion and counting.‚  The company is still hemorraghing cash like it’s going out of style.

So what does possibly one of the least profitable companies in history do?‚  It takes a big chunk of the money given to it by taxpayers and GIVES $165 MILLION OF IT TO THE VERY EMPLOYEES WHO LOST TENS OF BILLIONS!

Hahahahaha.‚  The situation is so sad it’s funny.

What should have been done instead?‚  America should have trusted in it’s principles of free enterprise and allowed these rotten behemoths to fail and enter bankruptcy court to be broken up into pieces and sold off to competent managers.‚  This is not the first time in American history that we have had a recession, but it is the first time that Americans have completely abandoned their principes of freedom for policies that are turning this country into the Soviet Union.