A Cazillion Dollars

Today, I read an article in the New York Times about American International Group (AIG). According to their website, www.aig.com, AIG is an insurance company that operates in 130 countries. They sell property,casualty and life insurance. AIG received 170 billion dollars in bailout money. The money AIG received should have been used to pay off their debts. Any money left over should have been reinvested in the company and put in a savings account. However, AIG has mismanaged the bailout money by issuing bonuses to its greedy corporate cronies. What happened to business ethics? How can a business justify giving bonuses to its executives when the company is operating at a deficit? What is AIG's response "Ooopsy. I promise the next time you give me a cazillion dollars I'll be responsible...really."

There should be a cap on the bonus amount executives receive. New laws need to be written and enforced. Why? Apparently, the Ten Commandments is not enough. (The Old Testament reading today in church was about the Ten Commandments Exodus 20:1-17). Our founding fathers wrote and signed the Declaration of Independence based on Christian principles. So in essence, the laws of Moses in the Bible was a foundation for the laws of our great USA.

Businesses will not operate judiciously or ethically on their own. They have to be regulated and kept under public scrutiny. Under the new law, a business will not issue monetary bonuses when it is operating at a deficit. If this law is violated, the business will face fines and the guilty parties could face imprisonment.

AIG should have used the cazillion dollars responsibly by:
*paying off its debts
*reinvesting money in the company
*put money into a savings account
*giving money back to the unemployed, homeless, financially impoverished taxpayers
(Click on the title "A Cazillion Dollars" for video)
Copyright 2009, Michelle I. Peterson. Some rights reserved.
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