Should President Barack Obama Fire AIG CEO's
64Fire the AIG CEO's?
Should President Obama fire the AIG CEO's who paid themselves $165 million of a $170 billion government recovery with the American taxpayer's money?
After the bailout and before the news about the CEO's bonuses as excessive and shameful, it was reported that the AIG was in dire need of additional government funds for sustainability. A few weeks later, the CEO's were awarded for their managerial skills with a $165 million bonuses divided between 47 top executives.
President Barack Obama has expressed outrage at the excessive bonuses but have not said anything about firing the CEO's. President Barack Obama appointed Treasury Secretary Tim Geithner to look into getting the money back to the taxpayers. Ironically, the Chairman of AIG was told to help resolve the problem of getting the taxpayers' money back also. The Chairman issued a statement about changing the infrastructure of AIG but did not say anything about firing irresponsible CEO's either.
Congressman Barney explained that taxpayers own 80% of AIG that is reportedly worth about $400 billion. No suggestion was made however for the taxpayers to vote on a private company firing of the CEO's.
As the Commander in Chief one would think that President Barack Obama would have the power to fire the CEO's. President Barack Obama patterns his presidential administration after Lincoln who was known to work with a team of
rivals. His pick of Hilary Clinton a known rival as Secretary of State proved that President Barack Obama patterned his administration with that of Lincoln.
President Lincoln as a president was known to fire incompetent cabinet members if they stood in the way of his presidential agenda. President Lincoln never hesitated to fire generals that were not up to the task. Should President Barack Obama do the same as his hero Lincoln and fire the AIG CEO's who were not up to the task and should not have used the taxpayer's $170 billion irresponsibly by paying themselves $165 million in extra money or bonuses. Steve Forbes, Editor in Chief of Forbes magazine went as far to say that President Barack Obama should fire Treasury Secretary Tim Geithner not in reference to the AIG matter but because of his "debilitating accounting principle." But that is another article.
Use your 80% ownership of AIG and leave your comments about whether you think the CEO's alll 47 of them should be fired of irresponsibility with the American taxpayers money.
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Comments
Thank you for you opinion and for you comment.
President Barack Obama has taken his rival Hillary Clinton as Secretary of State, true and behaved like Linkoln but President had to sacrifice a lot to reach to the status of Lincoln.
H P Roychoudhury, thank you for your comment.






Matt says:
8 months ago
I understand why people are frustrated with AIG using tax payer money to provide bonuses but, please, the government is going to spend an obscene amount of money. So why don't you look at them if you want to see how your money is being spent. Obama's budget is going to severely stunt any growth in the private sector as is. But firing any CEO is a blatant abuse of power. The government should do little to affect businesses directly.