ST Alpha - "I hate the broad brushes being used here with respect to these bonuses." (Reading a Post)

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In response to "So what do we think of this idea to recoup the AIG bonuses? I'm torn...sounds like a bad precedent -- (link)" by The Calico Cat Coalition

I hate the broad brushes being used here with respect to these bonuses.

Posted by pmb (aka pmb) Mar 17 '09, 12:00

I have not seen a clear analysis of who is getting these bonuses. As I said yesterday, if these are being paid to the execs in charge of CDS business or their superiors or those at the highest levels, yes, pull it back. They didn't earn it. But many other business units at AIG (the traditional insurance business)remains profitable. You don't want to lose those people to other insurance companies or AIG will never survive. Not every element of the institution is to blame. Those that performed (and for many of them bonuses are a significant part of their income) should get reasonable bonuses. Fueling this rage at everyone in these institutions is destructive and counterproductive.

Responses:

AIG has as of now refused to reveal who received the bonuses. but the rumors are that the $165 M (of the total $450ish M package) went to - decline Mar 17, 12:14
It's also broad in respect to why they were paid. If they were retention bonuses promised at hire date you might was well pull back their salaries. -- nm - Max Mar 17, 12:03
The executive in charge of the division that set off a global economic crisis - The Calico Cat Coalition Mar 17, 12:01 6
- Agreed, those people should not get bonuses. That's not everyone. -- nm - pmb Mar 17, 12:03 4
  - Actually...it seems so... - The Calico Cat Coalition Mar 17, 12:07 3
    - [deleted] 1
      - *votes for him* - Taur na n�g Mar 17, 12:17
    - *Grabs pitchfork* - pmb Mar 17, 12:10
- executives...plural -- nm - The Calico Cat Coalition Mar 17, 12:02

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I hate the broad brushes being used here with respect to these bonuses.

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