The nearly collapsed (if it weren't for billions in taxpayer funds) insurance mega-firm AIG announced last week it was paying out >$400 million in bonus money, to the predictable outrage from the media and Obama administration officials.
In most normal circumstances, bonuses are paid to a) keep quality and high performing employees from jumping ship to other companies, and/or b) reward profitable performance.
In this case, one wonders where these executives would go, since a lot of the competition is out of business, or at least in no position to bid up new labor, and what performance they're being rewarded for.
The sense of shameless entitlement at financial institutions during these days when people are losing their jobs, homes and health insurance is breathtaking. Of course, shame is an emotion most acutely experienced when one looks in the mirror, and everyone knows vampires don't look in mirrors.
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