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From bank bailouts to BIG bonuses

February 3, 2010 1:29:45 PM PST
Can't wait for the next knock on the taxpayers' door from the financial brainiacs. You know - the ones who came begging with their latte cups rattling, pleading that they were too big to fail and getting billions in handouts.

Now that taxpayers have saved their sorry assets, they're having a grand old time. Laisse bon ton roulette! Let the good times roll!

The news that A-I-G is paying $100 million in bonuses is sending millions into fits, and who can blame them? Unemployment is above 10%, and these guys, still feeding from the public trough, are shelling out these kinds of bonuses?

Turns out - the bonuses are based on contracts written in 2007, and there's apparently nothing the government can do about it. Except that maybe someone could have checked into this before we doled out $182 billion in bailouts to A-I-G.

Do these companies really have to pay bonuses to people, in this economic environment, so they won't go somewhere else? They're keeping the same people who got them into the mess? They're that valuable?

Really?

We'll have the latest on the bonuses and the fallout, tonight at 11.

We'll also have any breaking news of the night, plus Lee Goldberg with the approaching storms in his AccuWeather forecast, and Rob Powers (in for Scott Clark) with the night's sports. I hope you can join Liz Cho and me, tonight at 11.

BILL RITTER


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