It's almost unbelievable that AIG announced it will be giving millions of dollars in bonuses to over 130 of its managers. And this after nearly going bankrupt! Way to reward incompetence...

http://www.nypost.com/seven/12032008/business/aig_in_bonus_bungle_141891.htm

AIG claims that it is doing this in order to retain its best managers. But in an economy where everyone is losing their jobs - shouldn't it be the other way around? Shouldn't the managers be happy that they still have jobs? They certainly don't deserve bonuses for running the company into the ground.

And the worst part is - this is after AIG smugly reported that it's top execs would not be receiving bonuses this year!!!!

American International Group Inc Chief Executive Edward Liddy will receive $1 in salary this year and next, and there will be no 2008 bonuses for the company's seven most senior executives, the troubled insurance conglomerate said on Tuesday.

Fifty more AIG executives will be locked out of pay raises in 2009, AIG said in a statement.

And they were even congratulated for their example.


"I encourage other firms to wake up to the new reality on Wall Street and follow AIG's step quickly," said Cuomo.

http://www.reuters.com/article/businessNews/idUSTRE4AO6LX20081125

Personally I think they are trying to reward people because they got a free 150 billion dollar bailout. I mean, if you fooled someone into giving you 150 billion dollars for nothing - wouldn't you feel like sharing it with your friends?

Fortunately, the public is outraged about this. But it's not enough.

I call on all Americans to remove their money from AIG's institutions. It's time the public used it's power to tell Wallstreet and the whole business world that we will not tolerate blatant greed and misuse of our money.

I will make a list of companies that Americans should boycott and get shut down permanently. Then we can invest our money into companies that handle it responsibly and reward them for doing so.

#1 on the list of boycotted companies: AIG.

Congratulations AIG. You are finished.