Tuesday, March 17, 2009

AIG offices need armed guards

AIG employees are receiving death threats and are afraid for their lives. Armed guards are being posted at their offices. The public outrage over the $1 billion in bonuses for AIG employees continues to grow. Over $400 million is planned for financial services employees and another $600 million for people throughout its global insurance units. Seventy three employees will receive over $1 million each. One lucky employee will receive $6 million. These bonuses come after the taxpayers footed a bailout for AIG worth over $170 billion. Now that the news media have picked up on this story, Congress is outraged. This outrage comes after they approved the bonuses in an earlier bailout. A million dollars should pay for a lot of fear tolerance.

AIG Offices patrolled by Armed Guards

A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.

"It's a mob effect," one senior executive said. "It's putting people's lives in danger."

Politicians and the public spent yesterday demanding that AIG rescind payouts that they said rewarded recklessness and greed at a company being bailed out with $170 billion in taxpayer funds. But company officials contend that the uproar is scaring away the very employees who understand AIG Financial Products' complex trades and who are trying to dismantle the division before it further endangers the world's economy.(excerpt) read more at macedoniaonline.eu


Anonymous said...

These people are out of control.

Anonymous said...

It's said the average household now owes $32,000 in Stimulus debt that will be added to the National overall Debt: My husband is on social security and I'm unemployed- our income is $14,400 per year. Why not dissolve AIG right now, auction off everything, and require the bonus recipients to live on no more than $32,000 per year? That's over twice my household's income!