Are you kidding me?

If Aig's board was doing their job they would have known that their executives were not doing their job. How can you give bonuses to executives if a company goes bankrupt! Oh wait a minute, lets think about this on our private jet to Europe where we will go on a squab hunt. Oh, I don't have a private jet.

Oh please!

If shareholders really had rights they would never have approved such ridiculous pay packages. The CEOs and board executives report only to themselves and can squander the companies resources for their own gains. Why does a CEO need 500,000X the compensation of the lowest paid employees? Where does it end? Oh yeah, with the government(taxpayer) cleaning up the mess.

normally, i'd agree with you, but when the gov't gets a hand in bailing you out, then they get to look at your recent past, current, and future expenses, and take the cuts necessary.


if you want to pay your CEO what you want, then don't ask the taxpayers for help to make that payment.

The corporate world is a greedy world. Pay employees low wages, give no benefits or pensions to reward loyal long term service and out source jobs. Now these employees are to pay the bailout price. Nice work!

Well Doug, what do you say to comments #3 and #4. I'd say they have a point.

The corporate boards of the major U.S. companies are a "good old boy(and now women" network. I appoint you to my board , and you appoint me to your board. Just check out the inter-locking directorships when you receive your annual reports! So if the govenment is going to bail out lousy management, not only should they be fired, but the board of directors who permitted them to get away with it while collecting their huge annual retainers should also be fired. You want bailed out, you want taxpayer money, then expect lots of strings attached. Is it happening ? No. That is why we continue to have obscene payouts to failed executives and great parties. Oh yea, I should have cancelled that last one! Really? Dah!

Cuomo is not only NOT out of bounds, but I hope to god he could under the law, replace the dumbass board of directors. Cuomo acts on behalf of the will of the people. Remember us? This is a government of, by, and for the people. Not your ***damned business executives...better known lately as white collar CRIMINALs.

I agree with comment #3. The Board clearly isn't operating with the best interests of the shareholders in mind. AIG sought and received Government help. That should give the Government (specifically AG Cuomo) the right to review and revoke past actions of the board that are clearly contrary to the shareholders' interests.

I hope that the hyper-greedy/aggressive corporate mentality that was lionized in the 80s as "Greed is Good" is coming to an end. I want rational and moderate corporate governance to become the standard. That includes reasonable wages for corporate executives that fall in line with furthering shareholders interests. That means giving corporate executives salaries and benefits that will attract the best and brightest to run the companies, but isn't so high as to force Corporate Boards to continue putting good money in after bad as these over-compensated corporate execs make decisions that further their own interests instead of the stockholders.

Under normal circumstances, I'd have to agree with you, but in this instance we, the people of The USA, just bailed out this outfit when they went bankrupt. As I understand it, when you or I go bankrupt, we have to account for our spending for a period of time prior to the filing and if it's out of line we are expected to compensate for it. Why would these people feel that they are above the same law?

I agree with the majority, when the US citizens have to bail you out then you have to be held accountable to us, or our reps the US government. Additionally we should also be asking for the money spent on resorts and hunting trips back and who ever ok'd these expenditures terminated.

AIG is a real piece of workmanship. Who are they held accountable to for the misuse this time? I hope they have to pay back what they were given and have to bail themselves out. We as taxpayers could certainly put that money to better use. God help those greedy wretches.

It's obvious that contract law has reached a new low in this country. Is it any wonder why nobody has faith in written contracts any more? A homeowner signs a contract to recieve financing on a house, but neither the lender or homeowner want to enforce the terms. Similarly, the executives at AIG and other companies had valid legal agreements regarding executive compensation which were executed well before the government intervention. Now those legal agreements are being challenged. I agree that executive compensation has gotten out of hand and it should be scrutinized going forward. But previous agreements should be honored, just as original mortgage terms should be honored and enforced. You can't talk out of both sides of your mouth and expect defaulting homeowners to live up to their contractual terms but then turn around and want to break equally legal contracts that were executed for corporate executives.