Tuesday, March 17, 2009
AIG - New Meaning
Once again AIG, American International Group, has come under criticism, and justly so, for awarding hefty bonuses to executives when the firm is in such dire financial conditions, including to those who made decisions that has brought AIG to the doorstep of bankruptcy. If the bonuses must be paid, let them be paid in AIG stock.
AIG and its executives are appropriate symbols of the horrendous shortcomings of a poorly regulated American financial system. Its initials are taking on new meaning. “A” could readily stand for any of these…appalling, aristocratic, atrocious or arrogant.
“I” could readily stand for any of these terms….impassive, immoral, ignoble, imperial, impenitent, indifferent, or insufferable
“G” could stand for…. gamblers, greed, or gluttony.
In my view, AIG now stands for Arrogant Ignoble Greed. What does AIG represent for you?
Arrogant Ignoble Greed is a company in disrepute and though there are those who argue that it is too big to fail, no company should be too big to fail. AIG should be pushed into bankruptcy, with its salvageable parts sold off. The firm’s ignoble leadership should be dismissed in disgrace and left to defending themselves in the law courts against those who will sue them for various their misrepresentations and actions.