As the AIG bonuses do their time as the outrage of the week, there are a few things that we might want to keep in mind. As we listen to the cries of ‘Wall Street Greed’ and tax the bonuses at 90 percent, let’s look at what is being stirred up. According to the reports I have read, these were retention bonuses (these people were being paid to stay on and clean up the mess–instead of looking for new jobs because this area of the company was being shut down). The bonuses were a very small percentage of the money actually given to the company. A very large amount of the money given to AIG went to European banks–why are we not complaining about bailing them out? Anyway, when we accuse the AIG and Wall Street people of being greedy, are we not just being envious? The bonus structure in the financial sector may need to be reexamined, but in the way we as a county are reacting, we look like the villagers coming after Frankenstein with the torches–it’s not a very pretty picture! Next time you are ready to get angry about AIG bonuses, ask yourself where your indignation is coming from. Is envy being stirred up in us so that we won’t notice where the money is actually going?<\/p>\n","protected":false},"excerpt":{"rendered":"
As the AIG bonuses do their time as the outrage of the week, there are a few things that we might want to keep in mind. As we listen to the cries of ‘Wall Street Greed’ and tax the bonuses at … Continue reading