So you are the leader for one of the biggest companies in the world. You screwed up and the company almost collapsed. Your company post a record loss and the government had to step in to save your company.
What do you get at the end of it all? If the company is called American International Group (AIG), you get a multi-million bonus for your ‘good’ work.
That’s what happening in America right now as leaders in AIG are now in line for their year-end bonus (which come to about US$165 million) and there’s nothing the U.S government can do about it. Leaders of the White House economic team, with Treasury Secretary Timothy Geithner leading the way, have tried every legal means they have but could only managed to get AIG to reduce the bonuses.
The opposition Republicans is now bellowing about the bonuses, conveniently forgetting that the bailed-out of the insurance giant was done under their leadership, but there’s nothing they can do also.
Although I don’t really mind high salaries for our ministers, but don’t this kind of remind you of Singapore?