[Chief Executive Liddy:] “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 that their compensation is subject to continued and arbitrary adjustment by the U.S. treasury.”
I see no need to “retain the best and the brightest” of A.I. G. employees and they have certainly demonstrated that they are no more talented than the fellow who picks up my trash on Mondays. In fact, my garbage man is reliable and does his job, without fail. Let’s put him in charge.
Update: from the Time’s Article, another gem:
The payments to A.I.G.’s financial products unit are in addition to $121 million in previously scheduled bonuses for the company’s senior executives and 6,400 employees across the sprawling corporation.
UPDATE: The Wall Street Journal says it’s $451 million, plus that $121. We own 80% of this company and can’t stop this? As suggested in my headline, let’s take the remaining 20% and throw these gluttons out on their fat asses. Best and brightest indeed.