Ailing AIG stands by need for bonuses
Treasury Secretary Timothy Geithner initially objected to the $165 million in payments but agreed the losses could be greater if employees are not retained.
Reasoning:
Geithner: After all, only about 10% of the 170 billion is being used for bonuses.
US citizen: But, that is 165 million.
Geithner: Exactly. They will use 90% to keep the brightest and best. Otherwise they may
quit to find better jobs.
US citizen: Aren't the the ones who brought AIG to the brink of collapse in the first place?
How would they find better jobs in this economy?
Geithner: Maybe Dubya was right about US citizens not knowing how the economy works.
Tsk, tsk. We need to educate you.
