The Arrogance Of AIG

Unless you live under a rock, you have probably heard by now that AIG has given upwards of $165 million dollars in bonus money to employees of their financial sector. This is coming out of our pockets because it's bailout money. The arrogance of AIG is astounding.

We've been duped, folks.

AIG's financial sector is reported as being one of the main reasons for our current economic meltdown. AIG states that this is "retention money" to keep employees in the financial sector from leaving. Now, I'm not a rocket scientest, but I do know that you don't throw good money after bad. I think pink slips would have been a much better choice. Dont let the door hit them on the way out.

Why retain people that caused this whole tumbling domino economic decline?

It just doesn't make sense.

AIG managment says that the retention money was contractually negotiated before the bailout and they legally had to pay. Wouldn't you think that those contracts would have an "out clause" in them so they wouldn't have to pay. We've all dealt with insurance companies before. They all have wiggle room for the company's favor in the fine print.

I don't know about you, but I've never been rewarded big bucks for sucking at my job.

I also read that AIG has paid off debt to foreign banks with our bailout money who also got US bailout money already from our government.

President Obama and congress say they are outraged by this. Well, they should be. However, I wonder why they were asleep at the wheel to let this happen in the first place. If they let greedy, arrogant people run wild with billions of dollars, what did they think was going to happen?

Common sense thinking sure could have gone a long way.

You might want to read about the fall of AIG by purchasing the book below.




Let lenders work for you by clicking here. It's free.

I believe there is credit out there...

I get so tired of the media telling me that Americans can't get credit. I'm sure it probably different in each region of the US, but here in the Midwest, life goes on. People still drive new cars, buy houses, and expand their businesses.

I will concede that it might be harder to get credit in some instances. However, if banks had been a little more choosy in who they were lending to, we might not be in this mess right now.

You have to work from a budget and stick to it. That is just common sense. Sometimes you have to make do with what you have until you have some extra money later.

My point is that I believe that the American public was sold a load of horse feathers and made to believe they had a right to own a home without taking in the thought of fiscal responsibility.

The banks, the government and the media should take accountability for that.

There are more Americans out there working than are not. We need to focus on that. We need to be positive.

I truly am sorry for those of you reading who may have lost your jobs. It's not fair. It's not right. It's not your fault.

In my opinion we need to turn off the gloom and doom news programs and do what we do best...work ourselves out of this mess.

There is credit out there. Don't let them fool you. The financial sector feeds the media. They put their negative spin on it because it keeps us coming back and makes their ratings higher.

Keep an open mind.

Here a couple of resources you might find helpful during our economic recovery.

http://www.bestfreemortgagewebsite.com
This site will get you a good rate on mortgages.