The AIG thing in a nutshell

by Dan Furman on March 18, 2009

Imagine this conversation:

Conservative businessman type: Hi son, how are you today?

20 year old son: Not so good… my car insurance is due, and I don’t have the money.

Conservative Businessman type: Well… ok, let me help you. I don’t want you to have to give up your car. But, I need you to promise that you’ll make smarter choices in the future regarding your finances. Ok?

20 year old son: Sure Dad. Thanks!!

 

The next day, Dad sees son getting ready to go out.

 

Conservative Businessman type: Where are you going, son?

20 year old son: Oh, we’re going to scalp tickets to the big game. Don’t wait up!

Conservative Businessman type: Ummm… wait… didn’t I just loan you money for your car insurance? Where is this money for the game coming from?

20 year old son: Errrr… ummm… well, you see, I already promised the guys, and…

 

That’s the AIG bonus thing in a nutshell. Betting a lot of those guys who got/ok’d bonuses would be on Dad’s side in the above, too.

I can’t say I’m surprised. Are you? I mean, nobody is saying “Oh, a huge insurance company filled with big business pricks acted in a slimeball way??? NO, not them.” 

Bad PR boys. You really blew it. You can fix this by hiring someone really good at getting a clear, plain message across. I’ll explain it for you and make it all better. I don’t charge much - couple mil ought to do it. :)

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