This blog is not an attack on any political party, but rather a scorching criticism of an abuse of power and money. And we’re not talking about just anybody’s money, but mine and yours. Click on the link below to learn further about the horrendous act that AIG committed with taxpayer bailout money. This one really angers me!
The other day while at the bookstore I overheard a comment “It’s the average American that’s getting a kick in the seat of the pants, not those executives or politicians.” That perhaps summarizes the situation best! Granted AIG returned the money, and Congress passed a 90% tax on those bonuses, so the end result is the money went back to the treasury. However, what sort of mentality does AIG have that the bonuses were paid in the first place? Would they have voluntarily returned the money if not caught? Congress is angered but they are the very ones that approved the money without stipulations.
Consider this: should tax dollars be used for correcting others mistakes? Should tax dollars be used to pay off private debt, and if so, who should get that money? I have a mortgage and would love for someone else to repay that loan despite the fact I promised to pay the money back. Getting back to AIG, should we point an accusing finger at the executives in that company? What about the politicians that approved the money? Should specific guidelines have been given with that money? These are but a few of the observations I want you to consider. Post your response to the fiasco going on with AIG. Make sure your opinions are well thought out and well articulated.
11 comments:
First of all, I can see why they went broke in the first place. They almost go out of buisness so the government gives them a lot of money to keep them going and they basically use it all for themselves and reward their employees for doing a bad job. I think they should be saving that money just incase they have the same problem again and have to be one more problem of Congresses "to do" list.
I think we should save our money just incase we have another political chrisis. We shouldn't give it to any banks or any place that is closing down because you never know they could just be saying that (being selfish) just to take all the money for themselves.and if we do have another political chrisis we will have enouph money to get out of it. And maybe it will take less time because we had experence with it and we would know if the choices we make are the right choices by comparing it from the pasts choices.
I agree with hannah. That they should save the money instead of be spending it. I don't now why they would even think about giving themselves a bonus while they make mistakes. My educated guess would be that they will make another mistake and go bankrupt!!!
Great job! This particular topic has impassioned views and can be very divisive. Hannah, Elizabeth and Jacob, thank you for commenting!
I think that is so not fair! They shouldn't take money that does not belong to them and use it for their own purposes! That is rude and inconsiderate of them. They could have made better choices like saving it or investing it in other ways. What they did was a waste of money. The taxes that we pay should have been used wiser than this!
I don't think the American people should bail out a company that made poor business decisions. If we bail out one company, should be bail out all companies??? I don't think we should pay money to a business that made bad decisions and they are using the money to make more bad decisions. Also, with the money gven to them the top exectutives were paid BIG BONUSES that was more money than the average American makes in a year.
I completely agree with what Hannah about everything. She pretty much said it all. They rewarded their employes for doing a bad job using our money. It was just wrong. Mr. Mercereau, you could use this situation in an Imbecile Award. They needed financial help so we gave them some money to help them out and they practically wasted it. I hope we can learn from this situation so that if anything like it ever happens again, we will set strict rules about what the money can be used for.
This does not make sense. If AIG got our money, and paid themselves money, isn't that illegal? Because the way i see it, they are stealing money from the people who give them money.
I think that what the government is doing is very unfair to the tax payers. They are taking money and giving away to AIG to give the executives more money for making their company fail. That is like the same thing as stealing. They are stealing our money and giving it to people who are doing bad. I think the government should not give them money or not let them spend it on useless things. If their company is going bankrupt and they are giving themselves bonuses it must not be to bad.
I think AIG should give back the money. The economy is already bad enough. We don't need to pay more taxes. My parents are angry and now I'm getting mad too. Like Elizabeth said they could just be saying it to get the money. I also agree with Hannah and Jacob. They shouldn't be rewarding their workers for doing horribly. They couldn't handle money before so they might not be able to now. It's not fair!!
I do not believe that tax dollars should be used to pay for the AIG debt. Because they did not choose wisely how to use the money they made so they have to face the consequences. I don't think that the tax dollars should be used to pay off peoples debts either.If you buy something you have to pay for it.I think we should blame the executives because they are leaders and should know how to use money the right way. Also the politicians who approved the money were wrong because there were no specific rules how to use it. Some people are selfish and greedy. That is what i think about the AIG company.
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