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A.I.G. to get $165 Million of Government Bailout Money for Executive Bonuses Earned While Running the Company and the Economy Into the Ground

By Andis Kaulins

The A.I.G. is to get $165 million of U.S. government bailout money for executive bonuses earned while running the company and the economy into the ground. (This adds to our previous posting at LawPundit).

Just how much is $165 million in REAL terms?
WHO is paying their bonuses?
YOU are, stupid.

If every man woman and child in the city and metropolitan area of Providence, Rhode Island (population about 1,650,000) paid $100 each, that would cover the $165 million in bailout executive bonuses at A.I.G.

That's right, we could just put out a hat in any of the following U.S. cities and if everybody in each of these cities contributed somewhere between $75 to $165 to their city hat, any of these cities could be the U.S. city paying the A.I.G. executive bonuses - which the government will pay anyway with your tax monies.

Here is a list of the domiciles of the dummies, whose populations each range from ca. 1,000,000 in Albany to about 2,100,000 in Sacramento:

Sacramento, Portland, Cincinnati, Kansas City, San Antonio, Orlando, Indianapolis, Columbus, Milwaukee, Columbus, Las Vegas, Virginia Beach, Providence, Salt Lake City, Charlotte, Austin, Nashville, Raleigh, New Orleans, Louisville, Memphis, Jacksonville, Grand Rapids, Hartford, Richmond, Oklahoma City, Greensboro, Birmingham, Rochester, Greenville, Fresno, Dayton, Albany.

How much do you think that any citizen in ANY of these cities would put into the hat if they knew the money was going to pay A.I.G. executive bonuses? Would in fact ANY money be collectable?

Even so, ca. $100 per capita is nothing compared to what other cities or groups of Americans would be paying if they had to foot the bill for the A.I.G. bonuses.

If every man woman and child in the city of Tempe Arizona,
(population 165,000+, home of Arizona State University, the largest undergraduate campus in the U.S.A.) paid $1000 each, that would cover it.
(or)
If 33,000 mortgage holders in foreclosure each paid $5000 each, that would cover it.
(or)
If 16,500 mortgage holders on the brink of losing their homes each paid $10,000 each, that would cover it.
(or)
If 8,250 potential car buyers would not buy new automobiles at an average price of $20,000 each but were rather forced to pay the bonuses, that would cover it.
(or)
If 825 potential new home buyers would not buy new homes at an average price of $200,000 each but were rather forced to pay the bonuses, that would cover it.

The lesson to be learned here is a simple one about economic recovery. The example of the A.I.G. bonuses has been repeating itself around the country at banks, investment houses and insurance companies, etc., over the past eight years of the Bush administration as monies which could otherwise be used productively to boost the economy and make America a better place, have been and are going into the private pockets of opportunistic mercenaries who are vandalizing the economic system.

YOU decide. It is your country. What do you want?
There is a good reason that the U.S. economy is in a shambles, and this is one very good example of why that is the case.

Full post as published by LawPundit on March 15, 2009 (boomark / email).