Of all the stories coming out of the economic downturn, the one that has recently aroused the most ire is that of AIG’s distribution of hefty bonus packages to its higher-ups as it sank and accepted billions in bailout funds.
The greed of corporations has always struck a nerve with the general public-the Enron scandal, for example, a nearly forgotten but once highly scandalous debacle-and this situation is no different. The tone of discussion about issues such as these is often of indignation.
“It’s outrageous and insulting to the autoworkers and others whose contracts were revoked that AIG could give bonuses because they claim it was contractual. What’s good for autoworkers and [employees of] other industries who had to give back should be good enough for executives making ten times what they made,” says Alan Goldes, salesman at an international apparel company. “These people should have to live by the same rules that others do.”
Mr. Golde’s views seem to be those of the majority of Americans. There has been no shortage of outrage among the public. Some are so upset that the top executives of AIG have has to take special precautions in going about their daily business.
“One of the guys from AIG told me that he had just hired a guard to protect him as he walked from his office to his car every day. He’s scared… things are getting kind of crazy,” said an employee (who wishes to remain anonymous) of a firm which until recently held the insurance giant as a client.
Enraged as we may be, though, how unexpected is it that a multi billion dollar corporation will be in some way corrupt? After all the coverage of the “golden parachutes” of packages given to execs of failing firms a few months ago, is it really so outrageous to think that another corporation would do the same?
Oriana So, a sophomore majoring in marketing at Baruch College has a view of things that is perhaps a bit more jaded than most. “I don’t see why everyone is so shocked, honestly. It isn’t something unexpected anymore-maybe people need to come to terms with that.”