Sunday, March 15, 2009
A Modest Proposal for Dealing with AIG Execs Bonuses
Outrage can feel cleansing but ultimately it is rather useless. Right now public outrage is boiling over at the news that top AIG Execs will receive $165 million in "bonuses". Correct me if I'm wrong, but a bonus is supposed to be a reward for outstanding or at least above average performance. These guys are the same ones who helped torpedo the world's economy with their shady practices and are the same shameless crew that threw a big party at a posh resort to celebrate shortly after the first "bailout" payment. There was public outcry then but the party was already over by the time their self-indulgence had been discovered.
This time AIG's top dogs were caught before they divided the booty but are now claiming that they are obligated by contract to award these bonuses or the incompetent executives who have brought our economy to the brink of disaster might sue them! Again, remind me what a reward/bonus is. It appears these porkers get to waddle up to the trough and slop regardless of their performance. But I digress, back to my premise: outrage is ultimately useless.
Here is my modest proposal: Expose these managers to public scrutiny. Post the names of all AIG executives receiving any of the $165 million in the recent payoff on a public website and then let nature take its course.
Within a few hours the full addresses, email and a whole lot more information will be public knowledge thanks to "public outrage" in action. Following that, people will do whatever they want with that information, hopefully in an appropriate and legal manner... of course. I have a few suggestions, all legal and decent, but I'll keep them to myself for now.
So what do you propose we should do to these professional porkers?