Wednesday, October 8, 2008

Warning -- Economic Rant Ahead

You mind if I rant for a minute in a non-journalistic, CNN kind of way?

What kind of spoiled, deluded egotists run some of the biggest companies in America? Days after I, my friends and neighbors, my coworkers and other Americans gave billions of dollars to AIG, AIG sent executives on a $440,000 resort romp.

Here's what Eric Dinallo, superintendent (intentionally non-capitalized) of the NY State Insurance Department said about it:

". . . the absolute worst thing that could have happened would have been for employees and underwriters in its life insurance subsidiary to flee the company.

"I do agree there is some profligate spending there, but the concept of bringing all the major employees together ... to ensure that the $85 billion could be as greatly as possible paid back would have been not a crazy corporate decision."

I've heard better excuses from panhandlers. Quick! We need to figure out how to pay back the American people for the money their government decided they would give us. To the spa! And unless we get some some royal perks, we'll jump ship. That'll show you. We'll go to, oh, I know. We'll go to work for the Treasury Department.

(To which I would say, No, no, no. Here's more money. Stay put.)

No comments: