Friday, March 20, 2009

US Congress Brings Back Shameless Bonuses to Earth

The outrageous $165 million in bonuses that A.I.G, after receiving $40 billion in bail-out money under TARP alone, paid to employees who played a part in blowing up the company will be returned to the taxman thanks to special 90% levy passed in the House yesterday.

Now here's something Ramgoolam could do to break the back of those infamous and apparently rock solid IPP contracts and bring our electricity prices to more competitive levels. That would at the same time prove to us that he is at least able to get the basics right.

The same principle should apply to money disbursed under the stimulus package. And it's not at the discretion of the Minister of Finance to give out the names of the companies receiving government funds. Unless of course if he sees no difference between taxpayers' money and his own.

1 comment:

Sanjay Jagatsingh said...

Aren't the take-home pay of some our local bankers getting out hand? We need to be mindful of potential behaviours.