Mike makes a very very good point. The same can be said for many of the institutions that let us down.
What I find so amusing about this whole A.I.G. debacle is the fact that the conversation continues to center around blocking bonuses. No one has really brought up the fact that other than the prompt removal of the CEO, the rest of these guys have been around for a very long time and, given recent news, are piss poor at their job. The above is from Bloomberg.
Walsh has been there since 1973, Wing, Moore and Wintrob joined in the early 80s, Lewis and Dooley in the 90s, and Herzog has been with the firm since 2000. This is the old guard and they are all sticking around - what a disaster. Fire them. Now.
