Food for thought

Just reading some news here and I see A.I.G, who got billions in bailout money, used $165 million of it to pay employee bonuses. Their excuse? "Well it's in their contracts!"

If that's the case why not pay the bonuses out of non-bail out funds? Oh, that's right. They can't. All their current captial is bail out money.

The most hilarious comment made by A.I.G about this was that their employees who get bonuses do a great job to deserve them.

Maybe someone should point out to them that requiring federal bailout money to prevent company collapse is not a sign of good employees. It's a sign that many, many, people fucked up in their jobs.

I said it before this bailout ever happened. If you give the bad money managers more money to badly manage then you're going to get bad results. A.I.G is not the first and won't be the last to abuse the taxpayer dollar. You don't break bad habits by having a politician shake their finger. Yes, I'm talking to you, Obama. This is about the third time you've been outraged regarding the bad use of bailout funds. Stop wagging your finger in anger and start acting on it.

If the federal government was serious in sending a message of outrage; That these actions are unacceptable, here's what they should do.

Send a posse of IRS agents to A.I.G-HQ. Considering if I were to default, or badly manage income that belongs to the government in the form of taxes, I'd have a few knocking on my door, I think A.I.G should have 165 agents knocking on theirs. It evens out.

Have those agents sift through every paper, every record, and question every person in the building. While questioning takes place, the Repo-Agents begin collecting any and all assets including desks, computers, pictures on the wall, and even the office kitchen sink.

Upon collecting material substance to repay the debt to the Taxpayer; A monetary payment will also be required at an adjustable interest rate beginning at 8.1%. A nice looking number to start, much like they'd give the public. Then in 6 months the IRS can jack up that interest rate to 14.4%.

After AIG has been bled dry and the taxpayer money returned to the federal government, allow AIG to crumble under its own weight. Yes, that's right. Let them fail. Because if they're unwilling to change ways on the verge, they'll be unwilling to change ways when/if they survive their self-made crisis.