AIG

so reading the news I see that Edward Libby, head of the AIG, is worried about lawsuits and other things if he doesn’t pay out nearly $200 million in bonuses to execs at AIG. (on top of $120 million in bonuses already paid at a company that was horribly mismanaged in best case sceanrio)

 NY Times article here

“We cannot attract and retain the best and the brightest talent to lead and staff the A.I.G. businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” he wrote Mr. Geithner on Saturday.

Still, Mr. Liddy seemed stung by his talk with Mr. Geithner, calling their conversation last Wednesday “a difficult one for me” and noting that he receives no bonus himself. “Needless to say, in the current circumstances,” Mr. Liddy wrote, “I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them.”

 

Best and brightest talent? What fucking rock is this guy living under?

He finds the situation “difficult but we must proceed.” This is leadership?

I think it is time to kick Mr. Liddy to the curb, and see who follows. If they don’t like their compensation for being a bunch of negligent criminals then I suggest they try the local day labor corner and see what an honest day’s work is. Maybe Bruno can use them for target practice with the nail gun.

Where most people come from, if you do a suck ass job at work, you not only don’t get a bonus, you don’t get paid, you don’t pass go, you are instead shown the door.

this soapbox soliloquy brought to you by guest columnist Ole Man McCloud who threatens to take the Greyhound north and bust out his can of whupass

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