In the news today, president Obama is outraged at AIG whose executives have collected 165million dollars in bonuses. These traders in the AIG financial product division have gone behind the scenes to create complicating deals allowing them to collect the benefits.
Obama and his supporters are outraged at this company who has shaken “the world’s economic foundations”. A fellow democratic said “This is another outrageous example of executives -- including those decisions were responsible for the problems that caused AIG's collapse -- enriching themselves at the expense of taxpayers,"
These excutives of this finianical company are collecting the benfits of these bonuses while other small business are just trying to stay afloat and in buisness. In the USA since February 2009, there are 12.5million unemployed, 29% of the population are afraid of losing their jobs and 9.4% of the US population is projected to be the unemployment rate at the end of the year.
Our current situation was ultimatey caused by the American financial institutions “lending money to unsafe borrowers for buying houses, thereby breaking with the long-established rule of lending only to those with a steady income and a good credit rating.” This is a prime example of thoses excutives being greedy and looking after only themselves.
Not being a very political person, this situation of the AIG executives benefiting from bonuses is outrageous. All over the world there is a “slow degree of poverty, starvation and lack of health care because one cannot afford it.” Everyone is being cautious and unfortunately those in need will be affected the most. It is important to be cautious, but what aggrievates me the most is when this situation could have perhaps been prevented. If thoses irresponsible banks and lending institutions did not lend to people who could not afford it and not collect the benfits for themseves then are economic situation could be a whole lot differnt.
Obama and his supporters are outraged at this company who has shaken “the world’s economic foundations”. A fellow democratic said “This is another outrageous example of executives -- including those decisions were responsible for the problems that caused AIG's collapse -- enriching themselves at the expense of taxpayers,"
These excutives of this finianical company are collecting the benfits of these bonuses while other small business are just trying to stay afloat and in buisness. In the USA since February 2009, there are 12.5million unemployed, 29% of the population are afraid of losing their jobs and 9.4% of the US population is projected to be the unemployment rate at the end of the year.
Our current situation was ultimatey caused by the American financial institutions “lending money to unsafe borrowers for buying houses, thereby breaking with the long-established rule of lending only to those with a steady income and a good credit rating.” This is a prime example of thoses excutives being greedy and looking after only themselves.
Not being a very political person, this situation of the AIG executives benefiting from bonuses is outrageous. All over the world there is a “slow degree of poverty, starvation and lack of health care because one cannot afford it.” Everyone is being cautious and unfortunately those in need will be affected the most. It is important to be cautious, but what aggrievates me the most is when this situation could have perhaps been prevented. If thoses irresponsible banks and lending institutions did not lend to people who could not afford it and not collect the benfits for themseves then are economic situation could be a whole lot differnt.
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