I can only mutter the words as 'double standards". "Unacceptable yet reasonable". Duplicity in action. Two face. "While we say this, we do that." These are words that come to mind as I listen to the congressional hearing on AIG, the largest american insurer who allegedly paid staff bonus over govt bailout money.
The contention of its chairman and CEO is that 'these payments are effort to boost the earnings of staff thereby paying their taxes back to the govt". In his own words - "This is the only way to improve AIG's ability to pay taxpayers back quickly and completely and the only way to avoid a systemic shock to the economy that the U.S. government help was meant to relieve."
In fairness to its CEO, apparently he is in fact receiving 1 dollar compensation a year, no financial stocks, no monetary rewards for his accomplishment. Commendable? Perhaps. However, his actions and decisions of late spur many questions.
Is this a leadership failure? Your thoughts?
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