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AIG CEO Robert Benmosche Compares Bonuses to Lynch Mobs

Business  (tags: Matt Taibbi, AIG, Robert Benmosche, CEO of AIG, bailout money and bonuses, Wall St. Journal, mortgage debacle )

- 1704 days ago -
The uproar over bonuses "was intended to stir public anger, to get everybody out there with their pitch forks and their hangman nooses, and all that - sort of like what we did in the Deep South [decades ago]. And I think it was just as bad..."

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Kit B (276)
Wednesday September 25, 2013, 4:07 pm

I think we see something consistent with these people of impossibly high salaries and bonuses and our Congress and it does have a direct tie to money. Too much money and these people do forget that they are just our fellow human beings pulling on one pant leg at a time. Too much money because they have no idea why people down here are so angry, feel (rightly so) so shafted and abused. Too much money and they live a life that is as cloistered as a monastery, with no contact with the real world. We are told that if those inordinately high salaries are not paid, the bonuses handed over those companies can not compete for the best and brightest. I beg to differ, the brightest minds are not at the top, those are the more Machiavellian minds, those willing to eviscerate the company for personal gain. The young and less aggressive, are far more creative and some times more honest. I'm very weary of these rich FAT cats whining for more handouts and complaining that they are the victims, when in fact they are the culprits.

Roger S (14)
Wednesday September 25, 2013, 4:15 pm
"...just presided over a year of declining across-the-board sales but got a 24% pay raise anyway, to $13 million a year..."

This is the thing--for the 1% the rules are different. Even when they are FAILING at their job, they get rewarded. Even if they lose their job due to poor performance, they will get a severance package worth more than the average workers could hope to earn in several lifetime. The game has been rigged by the rich to make themselves richer to the detriment of everyone else.

Jonathan Harper (0)
Thursday September 26, 2013, 4:20 am

Mike M (40)
Thursday September 26, 2013, 2:05 pm
Credo does have a petition on this

Birgit W (160)
Thursday September 26, 2013, 4:38 pm

Aurea Aurea Walker (226)
Thursday September 26, 2013, 4:51 pm
Kit B already used my one star to you today. Your post however is meritricous of 1000 stars. I cannot top your post but will attach my cart to your stars and ditto your post.

Roger G (154)
Thursday September 26, 2013, 5:18 pm
noted, thanks

Lois Jordan (63)
Thursday September 26, 2013, 6:24 pm
Noted. Thanks so much for posting another excellent article by Matt Taibbi, Judy. Sometimes reading these truths are just so painful to my psyche, though. I had a picture in my mind of Mr. Benmosche gagging to death on his own words in mid-sentence to help get me through to the end of the article.
Good comments by Kit & Roger. Many of us here on Care2 have been busy for a long time trying to change even small parts of this corrupt system that no longer values "a hard days work," but prefers to slowly siphon dollar after dollar from those who still perform actual work of value for a paycheck. Sometimes I feel like we're fighting a losing battle, but will continue on in hope that there are still some in positions of power who will use that to fight for us in the 99%. Onward we trudge.

Winn A (179)
Friday September 27, 2013, 5:43 pm

Amy F (11)
Sunday September 29, 2013, 7:25 am
What an a-hole!
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