Comments on: Open Court Topic #5: The Crooked Bonus Onus? http://www.thirstyquill.com/2009/03/24/open-court-topic-5-the-crooked-bonus-onus Sun, 20 May 2012 03:29:26 +0000 http://wordpress.org/?v=2.6.2 By: Andy McGee http://www.thirstyquill.com/2009/03/24/open-court-topic-5-the-crooked-bonus-onus#comment-345 Andy McGee Wed, 25 Mar 2009 14:26:14 +0000 http://www.thirstyquill.com/?p=994#comment-345 I believe that we have got to be more adaptable in dealing with this situation. We have to be able to make sure that folks who had nothing to do with the toxic side of AIG don't get their hard earned incentives taken from them. That being said some concession is necessary when you consider what those in the auto industry have given up for their organizations began to fail. As one AIG executive said if I do my job as a plummer and some irresponsible electrician burns down the house should I not get paid for my work? It is a valid point. We need to take a breath, impossible with the sensationalizing media, and strip away the pieces of this issue and deal with it in a fair and methodical way. Also I heard yesterday that 85 mill of the bonuses have been returned (half or just over of the total bonuses, most of which had nothing to do with the default credit swaps) If you tax the remaining at 90% that leaves around 7.5 mill. retained by the bonus earners. Is that more palatable? I believe that we have got to be more adaptable in dealing with this situation. We have to be able to make sure that folks who had nothing to do with the toxic side of AIG don’t get their hard earned incentives taken from them. That being said some concession is necessary when you consider what those in the auto industry have given up for their organizations began to fail. As one AIG executive said if I do my job as a plummer and some irresponsible electrician burns down the house should I not get paid for my work? It is a valid point. We need to take a breath, impossible with the sensationalizing media, and strip away the pieces of this issue and deal with it in a fair and methodical way.

Also I heard yesterday that 85 mill of the bonuses have been returned (half or just over of the total bonuses, most of which had nothing to do with the default credit swaps) If you tax the remaining at 90% that leaves around 7.5 mill. retained by the bonus earners. Is that more palatable?

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