A Brief Case For Not Paying the AIG Executive Bonuses.

CONTRACT - An agreement between two or more competent parties in which an offer is made and accepted, and each party benefits. The agreement can be formal, informal, written, oral or just plain understood.


I do not know what the details of the employment contracts that were made between the incompetent pixilated reprobates of AIG and the blood-sucking charlatans of questionable parentage who are now benefiting from taxpayer largesse by accepting $165,000,000 in bonuses.

Note to the respected reader: Bloggers don’t even need to pretend to be impartial.

Consider this:

There must be a good and valid consideration, motive or inducement to make the promise upon which a party is charged, for this is of the very essence of a contract

What is supposed to happen in any contractual exchange is a meeting of the minds: We hired you to make money, not to run us into the ground.

I would submit that there was no meeting of the minds between these execs getting huge bonuses at the expense of the taxpayers who bailed them out because of what resulted from their poor performance.

There was no meeting of the minds.

While I am writing this, the TV is saying they may demand the bonus amount back from AIG if they insist on paying it anyway.

I did the math. That amounts to 0.09 percent. Somehow, I don’t believe that will hurt much.

Anyway, I believe this is a very good case for denying these people their bonuses. I rest my case.