I just want to say that it saddens me to read posts from Jacoby in blogs and twitter about what greedy bastards AIG execs are being for filling up their pockets while the rest of the country is suffering. One of the things that I have always respected about the band is that they tell us to always go find the truth in everything and don't believe what we read or hear. Yet, Jacoby and possibly the rest of the band is jumping on the bandwagon.
The truth is that the government allowed AIG to pay these bonuses they are so "disgusted" by. When they granted AIG their bailout funds they included a grandfather clause that allowed a portion of what they received to go towards bonuses to be paid out to the execs. These bonuses have been in place for years on end, and did not just come out of thin air. If AIG did not pay these bonuses, then they could have been sued for a lot more than the portion that they received. It is like saying, you work for Company X, and you have been working there 30 years. Your bonus is coming up, and its for $2,000, but Company X is struggling and gets help from the government. So Company X is going to give you your $2,000 because if they do not you can sue for breach of contract for $30,000. Truthfully, the rest of the world and the president's outrage are feelings directed towards the wrong people.
And I understand that the economy is struggling and it is not fair. And things will get better, we are far from a depression. But people need to stop believing everything they hear from the media and take a glance at an economics book. I love and respect Papa Roach, but I also love and respect the company my mother works for and I hate to see that the truth not being taken into account. We were poor when I was born and my mother worked her ass off to be where she is today. She works for a completely separate division of AIG, so please don't send hate mail. I promise we are not receiving big bonuses.
Viva la cucaracha!!!