It just doesn’t stop, does it

Posted on | October 7, 2008 | 1 Comment

The economic bail out seems to have had NO effect on some of the architects of the current fiscal disaster. AIG was bailed out last week. Guess what they did days after the bailout? Went on a huge retreat complete with lavish rooms, lots of spending.

Financial Products Manager Joseph Cassano, who was one of the main culprits of AIG’s monumental collapse, is receiving $1 million dollars a month in consulting fees. Oh he’s definitely someone I’d trust with my money! Nice job if you can get it. I guess the trick is to be an  incompetent manager who can drive your business into the ground.

Former Chief Exec Martin Sullivan is going to receive a $5 million dollar performance bonus. A bonus for what?

Last week, after the bailout, 70 AIG company execs had a whale of a time at a week long vacation at a luxury resort in California. Cost? $400,000 for the week including $200,000 for rooms, $150,000 for meals and $23,000 for the spa. How’s that for belt tightening?

Incompetent management: $1 million a month

Ill-conceived performance bonus: $5 million dollars

Unparalleled greed: $400,000 in one week

Public bailout to support boneheaded, arrogance – priceless.

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Category: Catpaw's Mad, Corporate Greed, Obnoxious People, Politics, Rants, Utter Stupidity
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Comments

One Response to “It just doesn’t stop, does it”

  1. Cheysuli
    October 8th, 2008 @ 12:06 am

    And have you heard–McCain wants the government to buy up those “bad” mortgages people can’t afford, as if it’s just because their home prices have fallen rather than because they have lost jobs or whatever–and offer these people lower cost mortgages–so it’s just another bailout…

    UGH! How can this election even be close?!