Bailout on Shine

AIG: Would half the bonus money returned be better than none?

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On the hot seat with Congress today, AIG's CEO Edward Liddy said he had asked the employees of the insurance giant's financial products unit who received bonuses of $100,000 or more to return "at least half of those payments."

In a year when so many people are unemployed and those still employed couldn't even hope for a bonus when pay freezes are becoming standard procedure, it's the least AIG can do since the $165 million in bonuses should never have been paid out to begin with.

So, just how does Wall Street justify $20 billion in bonuses in an economic collapse?

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As most of us were reeling from the news of layoffs, firsthand or pinks slips in the hands of close friends and colleagues, and the rest of us were feeling grateful to have a job even if it comes with a promise of no salary increases this year, the out-of-touch, out-of-their-minds execs on Wall Street were doling out nearly $20 billion in bonuses to each other.

Why we all need an auto industry bailout

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<img alt="" src="http://a323.yahoofs.com/phugc/_PCtSLKJDxpp/photos/88ee57003ed69d9a48cbeb1b79a42a83/mr_f2fff184384c43.jpg?ug_____DVM4GD5Ye" align="left" width="400" height="293">At a conference the other day, I asked two women how they felt about the U.S. auto industry bailout. The two women, who had been amiably chatting a moment before, suddenly turned angry. "Yeah, we’ve gotta have it!” The other said: “Bailout? Why do they need a bailout?” A lot of you are probably screaming mad about it either way. Why does it seem that everyone — except you — gets a bailout? Here you are, trying to keep it together for yourself and your family after taking hits from rotten mortgages; higher food prices; and huge gas, health, and college-cost hikes. On top of that, you’re wondering if you or your partner’s job is on the brink, and there’s a good chance your credit-card rates will be jacked up to make up for the mess (as we’ve just seen from Citibank).