http://www.foxnews.com/politics/2009/05/05/aig-revises-bonus-total-m/
Yet another AIG bonus debacle. I recently had a discussion with somebody about capitalism and socialism; he made the comment that something needs to change: capitalism is not working. I made the argument that something does indeed need to change, but we need to change back to real capitalism. In a capitalist system, this bank would have failed long ago. The risky practices exercised by the executives would have been exposed throughout the financial community and would have taught a valuable lesson. Now that the government has stepped in with massive bailouts to keep this company afloat, everyone's confidence in the entire financial system has been shattered. This is just the tip of the iceberg in bad decisions that are getting support by our government.
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Somebody needs to combate that bad decision with a good idea!;)
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