A.I.G.

SHAMEometer rating out of 100:
100

Who:
American International Group, Inc is a major American insurance corporation based in New York. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest public company in the world and its collapse would surely harm not only the American but world economies, already mired in recession. Presently (March 2009), A.I.G. requires US$152 billion in American taxpayers' loans to just to pay its debts and stay afloat.

Shameless:

Despite posting a fourth-quarter 2008 loss of US$61.7 billion – the greatest ever for any corporation – AIG still plans to pay its executives – the same geniuses who flushed the company into the toilet until it backed up all over the floor – US$165 million in bonuses out of taxpayer funds. AIG has defended the bonuses by citing contractual obligations, but evidently the word “renegotiation” is not written in the AIG company manual as it is, say, in Detroit.

Economic Analysis:

"I would deny them the bonuses if possible. I would be for an exemplary hanging or two. Have it in Times Square, invite Madame Defarge. You borrow a guillotine from the French and we could have a party." - Charles Krauthammer, conservative commentator

"I was going to recommend boiling in oil in Times Square."

- Mort Kondracke, another conservative commentator

"I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide."

- Senator Chuck Grassley (R-Iowa)

Mitigating Factor: If you find one, let me know.