Off With the Bankers

New York Times by Simon Johnson, James Kwak | Mar. 20, 2009 (Opinion)

A.I.G. can hardly claim that its generous bonuses attract the best and the brightest. So instead, it defends the payments by arguing they’re needed to retain employees who are crucial for winding down transactions that are “difficult to understand and manage.” In other words, only the people who stuck the knife into the American International Group can neatly extract it for a decent burial.

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Posted by Fabrice Florin

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Subjects: World, U.S., Business
Topics: Global Economy, U.S. Economy, Corporate Governance, Finance
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Posted by: Posted by Fabrice Florin - Mar 20, 2009 - 10:35 PM PDT
Reviewed by: Fabrice Florin (review)
Content Type: Article
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Edited by: Fabrice Florin - Mar 20, 2009 - 10:35 PM PDT
Related Comments: Global Economy (2)

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Fabrice Florin
4.0
 by Fabrice Florin - Mar. 20, 2009

Insightful observations about the A.I.G. bonuses from Simon Johnson, a professor at the M.I.T. Sloan School of Management and a former chief economist at the International Monetary Fund. The author argues convincingly that "when insiders have broken a financial institution, the most direct remedy is to kick them out."

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  • The Rise And Fall Of AIG's Financial Products Unit

    Talking Points Memo by Zachary Roth | Mar. 20, 2009 (News Analysis)
    How and when did AIG Financial Products get started? Who ran it, and from where? How did it get into credit default swaps, and what exactly are they, anyway? And how did this ...
    Posted by Derek Hawkins
    4.4
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  • House Passes Bill to Punish A.I.G. Bonus Recipients

    New York Times by David Stout | Mar. 20, 2009 (News Report)
    Spurred on by a tidal wave of public anger over bonuses paid to executives of the foundering American International Group, the House voted 328 to 93 on Thursday to get back ...
    Posted by Fabrice Florin
    3.7
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