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The US government gave AIG a nice big bailout and they went and spent some of the money on whatever vacation the executives felt like taking even though the company is a miserable failure at this point. After losing over $60 billion, they are getting another bailout.
In the world of capitalism if you do not have the freedom to fail you have nothing to work for. It is human nature and an extension of survival instinct to be lazy. The only way to force good work ethic is to have a penalty when something is done incorrectly. That penalty should AT LEAST be firing every executive that works for AIG before giving them bailout money. Their freedom to fail has been taken away by the government continually offering bailouts. Just let AIG do under already. Let everything go under if necessary. Sometimes a social or economic revolution is necessary to fix things.
Monday, March 2, 2009
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