Thursday, March 19, 2009

Do the Math!

Okay, I get the outrage over the AIG bonuses. But seriously, that's $165 million. Out of the 180 billion dollars that's been pumped out so far, that's less than one tenth of a percent of the money. Let's put it this way. If you give your kid $20 to run down to the store and he or she misspent two cents on...well, let's pretend that you could buy something for two cents, would you really be indignant and spend weeks railing about it? Or would you take a hard look at what the other $19.98 went to purchase?

Keep your eye on the ball, kids. Mark down the amount and look more deeply into the spending. You'll have plenty of opportunity for righteous rage (on camera, of course) to impress your constituents when you solve the problem!
Posted by Jim McClain at 1:34 PM

4 comments:

KC Ryan said...

I think the reason everyone is so upset with them is that they are handing out millions of dollars to people as bonuses, which is wrong on a number of fronts.

1) Didn't these idiots run AIG into the ground so hard the government had to take 80% interest? For this, they're getting BONUSES?

2) Since the USA effectively bought the company, without the taxpayers they'd be OUT OF BUSINESS. No bonuses then, eh?

3) That anyone should be getting millions of dollars for a failing job in a company that is alive only because of taxpayers is just beyond belief. It shows that these people have no feel for the rest of the country (who I assume, like me, will never see a check that big in their entire life).

4) For the same reason that businesses are cancelling hotel reservations at resorts costing more than $600 a night. Because when tons of people are unemployed, it's just damned insensitive to spend that kind of money, even if you have it.

TIme to buckle our belts!

KC

4:12 PM
Jim McClain said...

I agree with all of those points. My point is that Congress is wasting time looking at the (relatively) small potatoes when, if this is symptomatic of a larger problem, and it probably is, then they should:

1. Yell and scream for a day. Get on TV if they feel the need. But then:

2. Get back to work! Start looking to the other $179 billion that we gave them and protect it before something like this happens again. Where did the money go?

4:30 PM
KC Ryan said...

Just last night in Toastmasters I gave a talk on precisely that subject - where did all that money go?!

Unfortunately, I don't think we'll eve find out for sure...

5:43 PM
Undeadhost said...

I'd have to agree with KC. They should not be getting those bonuses, I don't care how little the amount is.

My own company umbrella CEO took a 20% paycut and no bonus, president took a 15% paycut and no bonus, vps took a 10% paycut and no bonus, and all managers lower took a 5% paycut and still have the potential for bonus based on their individual sales numbers. People like me have their bonuses based on the company's sales numbers. So, I won't be getting a bonus.

We did this so that our company can stay viable and alive. We employ millions of people, top to bottom and across operating companies in the umbrella.

Where's our handout to the execs and managers who took cuts to keep us alive?

You're right, Congress shouldn't be focusing on that miniscule amount. However, it shouldn't have been in the Bill in the first place.

7:09 PM

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