American International Group, one of the world’s largest insurance companies, received a taxpayer bailout of more than $170 BILLION dollars.
AIG is paying out millions upon millions in new executive bonuses, even though the company lost $61.7 billion for the fourth quarter of last year, the largest loss in its corporate history.
Our government’s Treasury Department has ASKED the company to scale back future bonus payments.
This insanity must stop, and all taxpayers should be up-in-arms over this kind of news. I’m not advocating any kind of anti-government action at all. I think our system of government is the best the world has ever known, but sometimes the people we elect don’t quite get it, and it’s up to us to make our voices heard, so they can be responsive to our needs.
For our elected officials to give away taxpayer money without even the most basic, common sense restrictions on its use, is criminal.We can not just sit back and pretend all is well.We must hold them accountable.
Imagine having to “ask” the large insurance company to stop handing out the hand out it got from us. AIG had the gall to say it didn’t want to send the wrong message to the “best and brightest” who might want to take a job with the company.
I can’t wait to negotiate my next injury case with this company. I won’t want to be hearing how it feels my client is being too greedy or does not deserve compensation.
For that matter, imagine how the company big shots would react to a janitor or secretary or claim’s representative who asks for a cost of living raise. You can bet they’ll say times are too tough and money’s too tight to give raises. As far as the insurance industry is concerned, if you’re not at the very top, it does not care about you. Meanwhile, those few at the very top, who ran the company into the ground and suckered the politicians into giving it billions of our dollars, rake it in hand-over-fist.
The insurance big shots have reached new lows. Next time they come begging for a handout we need to insist our elected officials tell them where to go, or send them both home.
Donahue law firm is based in Keene, N.H., and is dedicated exclusively to helping injury victims and their families get the compensation they need and deserve.
I’d be honored to help. It costs nothing to talk with me and I don’t get paid until you win.
Charlie Donahue, Injury Lawyer