Is AIG really that bad?

March 21, 5:57 PMBusiness News ExaminerScott Gingold

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Who among us is not outraged by the bonuses paid to AIG executives? Based on a variety of pieces that I have written, my feelings on this subject are well known!

News today from the Connecticut Attorney General suggesting that AIG actually paid $218 million dollars in bonuses versus the $165 million dollars originally reported, does nothing to help AIG attempt to rebuild its image, nor solicit public support, or, instill confidence in AIG's management.

While it is easy, and in my opinion correct to be outraged, angry and dismayed at how certain AIG personnel raped American taxpayers, I wonder why the media is not broadcasting the same disgust towards Bank of America/Merrill Lynch, Citigroup, and others?

Here is something else to ponder. Whether under former President Bush, or current President Obama, Congress holds the job of oversight. Why didn't they do their jobs, and more importantly, why aren't we, and the media holding them accountable?

Speaking of Congress, once again I must ask; how come citizens and the media are not repulsed by Congress not outright declining their automatic annual pay raise? It looks like Speaker Pelosi and Representative Steny Hoyer will not even bring the matter to the floor for a vote.

"I'm not for it, so I'm not going to commit to bringing it to the floor," said Rep. Steny Hoyer, D-Md.

So, as Congress expresses outrage at AIG, perhaps they should be looking in the mirror at their own behavior. Business owners like myself have their pay decided by bottom line results. If we judged Congress in the same manner, clearly they would be returning their own pay to us, the taxpayers!