Let’s see. AIG (American International Group) was unable to cover the insurance it issued on mortgage securities and other speculative financial instruments, so the U.S. government (read: we taxpayers) had to pony up $90 so the company could settle its insurance claims and remain in existence.
We’ve probably all heard about the lavish retreats AIG held after the bailout. Now, today I read this headline in the Los Angeles Times: "AIG to freeze some exec pay."
How about making them pay back the bonuses they got for all that uncoverable (read: bogus) insurance they sold?