Quote:
Originally Posted by Azure
All because of the Government didn't do their job properly. Happens when you have a bunch of incompetent fools at the helm.
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I agree the government didn't do it's job properly. But it's still not the number one entity to blame.
If AIG had acted in good faith with the bailout money we might not be in this discussion right now. And by acting in good faith I mean targeting the areas that were responsible and renegotiating or voiding bonuses there. Firing people. There would be ample legal reasons to I'm sure. All this 'contracts are contracts under law' is bs when one side doesn't fulfill it's contractual obligations. (obviously I am not talking about this specific case here)
As well, they obviously should have canceled corporate retreats and other 'perks'.
People are mad because AIG has NOT acted in good faith with the bailout money. They have treated it like some sort of entitlement. And that has been apparent in their behaviour from the beginning.
Now a lot of the blame is falling on people who don't deserve it, I will admit that. New employees, or employees in different departments. But to blame it on people outside of AIG (even the government) is even sillier.
The government wouldn't have had to deal with any of this if AIG had not made bad decisions to begin with, and then acted so poorly after it received it's bailout. Yes I agree the government did not research or do it's job properly, and definitely could have handled it better. And they should be judged on their perforance as well.
But to say this is the governments fault? Very laughable.