Note: The following post is intentionally incendiary. I don't actually believe all of it-- well, I do, but there's a lot more going on that makes my points rather moot-- I just get frustrated when people get hung up over a single issue. I feel the need to ridicule people who have lost the big picture over a minor detail. Carry on.
A BBC quote:
[A]nalysts say the government could reduce the payment - which is $30bn - by $165m, in order to force AIG to account for the bonuses in another way. (source)
Doing a little math, the $165M in bonuses is 0.55% of the next bailout payout to AIG. For those who didn't quite catch that: that is just over one half of one percent or 55 cents every $100.
Not .55% of the total amount AIG is going to be given, .55% of the next payment to AIG. Since they've received over $180B in "support" from the government, that $165M is less than .1%-- For every $10 AIG has gotten (so far) from the government, all these investors are sharing from a 1 penny pool. Proportionally, that's about the same as 6 drops of soda left in 3 liter bottle-- you leave almost that much sitting in the bottom when you throw it away.
You're damn right it's outrageous! AIG is ripping these guys off... No wonder they're leaving.
I hope this puts things in perspective.
Arbtirary thoughts on nearly everything from a modernist poet, structural mathematician and functional programmer.
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