AIG Bailout, Bonuses, and Business As Usual

I've been trying to follow the latest events on the bonus debacle with AIG and our Treasury Department. With each new update, I try to glean accurate information and form an opinion that isn't based on utter rage. No luck there.

I really don't understand how AIG executives can accept these tax-payer provided bonuses and not feel a twinge of embarrassment. Oh, yea, I forgot, these guys are greedy pigs - they don't know how to feel shame.

My understanding of the purpose of a bonus is to reward an executive for doing a good job. For instance, if the company makes greater than X% profit for the year, you get a portion of it. That makes sense - reward for a good job.

Now these yahoos nearly drove the company into the ground and they are being rewarded for it! If we are rewarding incompetence, then sign me up to run GM or Chrysler. I'll be the first to tell you I haven't the faintest idea how to run any sized company, so it's a sure bet that I will make a mess of it. Make my bazillion dollar bonus check payable to me, Elizabeth Alexander, thank you.