The insurance and investment giant- American International Group. INC (AIG) announced to pay the contractual bonus amounting USD 165 million to its executives on Sunday. The funny thing is, AIG is facing the financial crisis and almost going to collapse last year. To prevent AIG to go for wound up during last Sept, the government bailout fund amounting USD 170 billion had been issued to AIG.
How do they justify this outrage to the taxpayers who are keeping the company alive? And, most of the higher level executives obtained bonus of more than USD 100 million dollars and some of the executives were resigned and gone right after the bonus has been paid out.
I am neither American nor the US tax payer, I totally feel unjustified to the act. There are more than 450 million of Americans have lost their job during this financial crisis and AIG is using the “taxpayers” money to reward its executives? It is totally outrageous! President Obama had issued a blistering attack on the co and pledged the co from paying the bonus. The US ministers are now urging AIG to restrain the bonus and repay the bonus.
Across the country, without the federal bailout fund; there are still a lot of employees who work hard to meet their daily responsibilities; all they wish is to have a stable job. AIG; at the least, has to utilize the bailout fund to safe its corporation instead of issue million dollars of bonus to its executives.
Showing posts with label News and Economy. Show all posts
Showing posts with label News and Economy. Show all posts
Wednesday, March 18, 2009
Saturday, March 14, 2009
World entering "Great Recession"
Dominique Strauss-Kahn; the head of IMF- International Monetary Fund has named the current recession as “Great Recession” and IMF forecast global growth in GDP- Gross Domestic Product is only 0.5% this year.
The world economic climate is glooming. With deep recession in US and there are a lot of pay cut and cessation of employment happened in the nation, the financial tsunami can hit the ground anytime. To prevent the market being worse; our government has thrown MYR 60 bil stimulating mini package to stimulus the market from slide to the financial crisis.
The RM 60 bil is divided into four levels. It mainly used to create job opportunity and to help the cease of company. The package is not transparent enough to tell whether it would work well or not. And, some people wondering why portion of the fund to be used on education purposes and not mainly use to save the market from the crisis?
Hopefully the package is working well by creating lot of job opportunities and the spending power of the nation will then increase. Besides to save the market from the crisis, our government also needs to look into the solution to prevent the rampant crime rate in the country and to deal with the issue of the foreign labors.
With the great recession is coming, we shall not complacent instead we should cut down the unnecessary expenses (- a reminder to myself as well :p ) and save more. This year will be a tough year to the nation, hopefully the RM60bil would use in a proper way. Last but not least, hope the year of Ox will bring back the “bull” market to the world.
The world economic climate is glooming. With deep recession in US and there are a lot of pay cut and cessation of employment happened in the nation, the financial tsunami can hit the ground anytime. To prevent the market being worse; our government has thrown MYR 60 bil stimulating mini package to stimulus the market from slide to the financial crisis.
The RM 60 bil is divided into four levels. It mainly used to create job opportunity and to help the cease of company. The package is not transparent enough to tell whether it would work well or not. And, some people wondering why portion of the fund to be used on education purposes and not mainly use to save the market from the crisis?
Hopefully the package is working well by creating lot of job opportunities and the spending power of the nation will then increase. Besides to save the market from the crisis, our government also needs to look into the solution to prevent the rampant crime rate in the country and to deal with the issue of the foreign labors.
With the great recession is coming, we shall not complacent instead we should cut down the unnecessary expenses (- a reminder to myself as well :p ) and save more. This year will be a tough year to the nation, hopefully the RM60bil would use in a proper way. Last but not least, hope the year of Ox will bring back the “bull” market to the world.
Wednesday, November 5, 2008
Welcome Obama to the White House!
Congratulation to Barack Obama who was elected to become the 44th America President; who is also the nation's first black president.
During the US Presidential Election, i have a faith in Obama that he will certainly takes his step toward the White House. No doubt that his charisma and prudent thinking had brought him to become the next US- President and certainly Hilary Clinton did a great job to support Obama by forgo her desire to cling to the next US-President.
Follow by his triumph; nowadays, Americans will strongly holding theirs' "American dream" which equal to "nothing is impossible and everything is possible".
Below is the speech derived from Obama's speech which had been delivered after he had won the election and i find it very cool!
"If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer.
"It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Latino, Asian, Native American, gay, straight, disabled and not disabled Americans who sent a message to the world that we have never been a collection of Red States and Blue States: we are, and always will be, the United States of America.
"It's the answer that led those who have been told for so long by so many to be cynical, and fearful, and doubtful of what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.
"It's been a long time coming, but tonight, because of what we did on this day, in this election, at this defining moment, change has come to America.
There are a lot of changes that Obama has promised to bring to the nation. Nevertheles, firstly; he needs to come out a proper solution to solve the credit crunch and the resession in US. Secondly,to solve the war in Iraq and of Afgranistan and etc.
Let's welcome Obama to the White House and hopefully with his attachment to the White House; fight for justice, look into the unequal treatment of the blacks and the most important thing- bring peace to the world!
During the US Presidential Election, i have a faith in Obama that he will certainly takes his step toward the White House. No doubt that his charisma and prudent thinking had brought him to become the next US- President and certainly Hilary Clinton did a great job to support Obama by forgo her desire to cling to the next US-President.
Follow by his triumph; nowadays, Americans will strongly holding theirs' "American dream" which equal to "nothing is impossible and everything is possible".
Below is the speech derived from Obama's speech which had been delivered after he had won the election and i find it very cool!
"If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer.
"It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Latino, Asian, Native American, gay, straight, disabled and not disabled Americans who sent a message to the world that we have never been a collection of Red States and Blue States: we are, and always will be, the United States of America.
"It's the answer that led those who have been told for so long by so many to be cynical, and fearful, and doubtful of what we can achieve to put their hands on the arc of history and bend it once more toward the hope of a better day.
"It's been a long time coming, but tonight, because of what we did on this day, in this election, at this defining moment, change has come to America.
There are a lot of changes that Obama has promised to bring to the nation. Nevertheles, firstly; he needs to come out a proper solution to solve the credit crunch and the resession in US. Secondly,to solve the war in Iraq and of Afgranistan and etc.
Let's welcome Obama to the White House and hopefully with his attachment to the White House; fight for justice, look into the unequal treatment of the blacks and the most important thing- bring peace to the world!
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