"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 - Engine Valves - Some Helpful Information - by Staff. Intake - On the intake stroke the piston moves doward, sucking in carburized fuel through the open intake valve. Exhaust valve is closed. Compression - With both the intake and exhaust valves closed, the pistons upward stroke compresses or squeezes the fuel into the combustion chamber. Firing - Ignited by the spark, the compressed fuel explodes and forces the piston downward on its power stroke. Intake and exhaust valves are closed. Exhaust valves and seats are exp
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