Sunday, March 15, 2009

The Best and the Brightest

AIG has a problem: what to do with the tens of billions of your money?

Their answer? Give $450,000,000 of it to its top executives.

No-brainer, right?

Well, maybe it isn't so bad. After all, they have two good reasons. First, they claim they are contractually obligated to make the payments. Second:

"We cannot attract and retain the best and brightest talent to lead and staff the AIG businesses, which are now being operated principally on behalf of the American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury," Liddy said.

Now just to be clear, these are the "best and brightest" who landed us in this mess by getting AIG involved in credit default swaps and other "creative" financial instruments.

So tell me: what would we be losing by not having these guys running the show? What are the odds that some random selection of people to run the company could do worse?


Blogger jay said...

Time for confiscatory tax policies on income, wealth and estates.

March 15, 2009 10:37 PM  

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