"The large bulk of the payments at issue cover AIG Financial Products, the unit of the company that sold credit default swaps, the risky contracts that caused massive losses for the insurer."
Based on what I heard on the news, the bonuses are for meeting or exceeding sales quotas. Apparently, the idiots in charge based the bonus structure on sales, without regard to profitability. Kind of like a car dealer giving it's salesmen bonuses for every car they sold, even if they sold a car for a fraction of what it cost the dealership. It is a perverse incentive that values sales over profitability. It practically guarantees failure. And if they think these people are the "best and the brightest", they are certainly not qualified to recieve my tax money.
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Today's Featured Article - It Can't Be Done! - A Tractor Story - by Neil Campbell. I'll never forget the time back when I was a boy baling hay on our Farm in Big Rapid, Michigan. The most memorable event that took place was a trip up the steepest incline on the farm pulling an old New-Idea baler with a pony-motor for power and a haywagon. I had just talked my Dad into buying an old John Deere B with 6-speeds ahead and I was real proud of it, except it was a little smaller than the Case tractor that we normally
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