AIG CEO Says Bonus Outrage Is "Just as Bad and Just as Wrong" as Jim Crow Lynching

Moneybox
A blog about business and economics.
Sept. 24 2013 9:50 AM

AIG CEO Says Bonus Outrage Is "Just as Bad and Just as Wrong" as Jim Crow Lynching

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AIG president and CEO Robert Benmosche

AIG photo

Great catch by Ryan Chittum who notes that lurking beneath the WSJ's anodyne headline "At AIG, Benmosche Steers a Steady Course" is an anecdote worthy of a sociopath. Here's what the company's president and CEO has to say about public outrage over the payment of large bonuses at a bailed out insurer:

The uproar over bonuses "was intended to stir public anger, to get everybody out there with their pitch forks and their hangman nooses, and all that-sort of like what we did in the Deep South [decades ago]. And I think it was just as bad and just as wrong."
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I'm gonna drop a little Slatepitch here and say that torturing and murdering someone are quite a bit worse than asking them to receive a lower bonus. The self-regard, egomania, and touchy defensiveness of the finance profession continue to amaze.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

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