Published by the Arizona Daily Star, Letters To The Editor, 03/20/09:
If you, I or anyone bought 80 percent of a company, don’t you think one of the first things we would do is find out what our management was being paid?
The Treasury Department screwed up and didn’t do its due diligence when making a colossal investment of taxpayer money and this uproar about AIG bonuses is simply a lot of politicians who realized a major mistake trying to cover their rears and transfer blame where it doesn’t belong.
Corporate employees are allowed to try and get the best deal possible for themselves. It is the responsibility of their managers and finally the owners (shareholders) of a company to make sure that those compensation plans fit into what’s best for the company.
AIG is an example of the flagrant disregard for basic ownership responsibilities by our politicians and bureaucrats in Washington.
These are the types of problems that will continue to arise as long as we sanction this level of government intervention in our economy.
Taylor Davidson, Licensed Broker, Tucson