The latest count of bonus money paid by AIG to execs exceeds $200 million and the outrage seems to be growing as the public’s awareness deepens.
One AIG exec, who told the New York Times that he was nowhere near the default swaps and other risky investments, expressed irritation and fear when he learned that his name and bonus had become public.
Despite expressing concern that the media would bother his neighbors, one such neighbor was delighted to see a reporter so she could blast her AIG neighbor and all the other bonus recipients. AIG officially warned all its employees to take precautions to avoid bodily harm from angry taxpayers, precautions like not carrying their company-issued tote bags and baseball caps. Goldman Sachs, which didn’t want federal bailout money but took it when Uncle Sam insisted, has spent the past few days defending itself for accepting owed monies from AIG.
I first blogged about a brewing Class War late last year and more recently in this spacein late January and again the next weekand sadly, my worst fears are coming true. And it’s only Act One in what will be a long, long play. All executives, especially those of us who are gainfully employed, should be very concerned about what’s happening out there, even as we may In fact be participating in stirring the pot. If you’re like me, you’re as outraged as the next guy by big bonus payments going to the same clowns who got us into this economic mess. But it’s also easy to see that you or I could be the next one tarred with the brush of anger and resentment.