More Millions, More Mishaps: Washington Struggles with AIG’s Executive Compensation Bonuses

A remnant from the previous administration’s carelessness is now an enormous problem for the current one.

When American International Group, Inc, AIG, accepted taxpayers’ bailout funds last year, no member of the Bush administration bothered to address how AIG planned to reward their employees in the coming year. Then, according to an AP article, “Analysis: White House, Dems Backpedaling on AIG,” no one in the Treasury Department under the Obama administration double-checked the AIG bonus structure or compensation plans when they gave AIG an additional $30 billion just a few weeks ago.

Now, after AIG followed through on its contractual obligation to give out $165 million in executive bonuses to its high level employees, is it ethical to reverse AIG’s actions and get that money back to the taxpayers?

Need Some Income and Love Sports? Try Living Off the Starting Salary for a Sportscaster

According to The Bureau of Labor statistics report titled “The Employment Situation: February 2009,” the national unemployment rate reached 8.1 percent in February of 2009, up from 7.6 percent the previous month. Not a cheery statistic. In fact, I was watching a news segment on this very subject when it dawned on me; all of these TV hosts are still employed. Is the television industry suffering financially like so many other industries?