I’ve heard really rich people say that at some point money just becomes a way to keep score. If we cut thir pay by a factor of 10 I don’t think they’d work any less hard.
He’s too old an narfly looking. 
-XT
Sorry, didn’t get back here till now.
It’s not the cost of the bonus; it’s the fact that investors would probably yank their money away from AIG, killing whatever business it has left,. if t got into a high-profile legal fight as such a time like now. I wouldn’t expect it to last a month.
Finally, if the company did go bankrupt, these would probably be the first debts in line to get paid! Your only hope would be that a judge would put them in bankrupcty protection and then rewrite these specific contracts. But that probably wouldn’t happen; it’s not the usual practice to remove payments promised for services rendered by employees.
Which is why we should immediately. But we have people setting their own salaries,. That that always been a huge problem. It can not be allowed to continue.
Apropos of nothing, my dad was regional director of something-or-other at Allstate when Liddy took over. He ended up taking an early retirement because he said Liddy killed the company’s culture of treating customers like partners and making them customers for life. While watching a news summary of Liddy’s performance with my dad, when they called him calm he said, ‘you can’t rattle a snake’.
An embarrassing public row broke out last night between City minister Lord Myners and Sir Fred Goodwin over the former Royal Bank of Scotland chief executive’s refusal to give up his £693,000 a year pension.
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RBS had earlier admitted it had made a record-breaking £24bn loss in 2008 and that the taxpayers’ stake could rise to 95% after a further injection of up to £25.5bn of government funds.
Goodwin remained unrepentant after a day in which Gordon Brown, Alistair Darling, Myners and the new RBS chairman, Sir Philip Hampton, all called on him to behave honorably. Brown’s spokesman said the government would, if necessary, pursue every legal avenue to prevent Goodwin receiving such an inappropriate reward for failure.