Still Think The Bailout Was A Good Idea?

Here is an article in the Guardian (U.K.) pointing out that AIG, the Insurance giant which received an $85 billion emergency bail-out loan from the Government a few days before the major bailout bill that we've talked about was passed, followed that up several days later by spending over $400,000 on a "lavish corporate retreat".

There have been other stories that some of the financial institutions which were pushing so hard for the $700 billion bailout package last week were busy at the same time shoring up their own "golden parachutes", making payments to, or arrangements for such payments to, senior management members.

Now let's just think about this. If you or I got hired to work for a company and completely screwed up everything we worked on, we'd be shown the door, most likely with no severance package at all. But these people at the top, who clearly were at the helm when the ship struck the reef, are being rewarded.

It makes me want to scream!

Liam.