Ok, so maybe I should be mad too. And depending on a few answers maybe I will be. But right now I feel like it's premature of me to be upset at AIG for paying bonuses. Because BEFORE I get mad, I want to know WHO got the money!
Look, AIG has its hand in A LOT! That company has been described as an Octopus because there are SO many aspects of what AIG does. SO...lets use this analogy. I, Chad McDowell, working for Elite Home Loans in Nashville, TN agreed to work under the condition that if I closed X amount of loans for the year I would be compensated with an additonal bonus. And lets say that I closed that number. Now, we also have ReMax Elite downstairs. If ReMax Elite doesnt carry their weight or even risks the profitability of the company, that doesnt void my contract. I still deserve the bonus I earned.
Every body seems to look at AIG as some huge monster, and to a big degree it's certainly a pariah now. But, you do NOT get that big without good employees, working hard for BIG BONUSES! And if they dont get that money from AIG, they will get it somewhere else. Does losing their top producers help their chances of success? And you and I might feel that the bonuses paid are ridiculously high...but that's the going rate! Its just like athletes or entertainers, they make the big bucks. If we think its too high, maybe we should have invested more then two weeks and $350 into our job training and gone to a better school and competed for THOSE jobs!
All this being said, I dont believe that we should have ever bailed them out in the first place. There should be no such thing as "too big to fail". It didnt work for the Titanic, shouldnt work for AIG. BUT, since we did keep them in business I dont see that they have much choice then to honor the contracts that were already in place.
I know it wont be a popular opinion. Everybody hates rich people until they become one. Why did we get into the business that we're in? It wasnt to go broke right? All of us had some kind of vision of the kind of money that could be made in real estate. We also know how hard we work, and if it takes THIS much work to make THIS much money, imagine what the job requirement is for an employee making THOSE kinds of checks...do you REALLY think its that easy? Too many people think that "Hard Working American" only describes the middle class. But hey, rich people didnt get rich by being lazy. And yes, the middle class absolutely is the backbone of this country, but there would be no middle class without the rich. Everyone with a job works for someone, right?