First make a law … then implement it … then express outrage when it is … mix it up and you get …
The $165 million AIG bonus flap that has caused outrage around the nation has its roots in a provision of Connecticut labor law that political leaders say needs to be changed.
The embattled insurance giant, which has received about $170 billion in federal bailout money, has said it is legally bound to pay the bonuses because of a provision in the Connecticut Wage Act. Many of those receiving the bonuses work for AIG’s financial products unit in Wilton.
If AIG failed to pay the bonuses, under state law the company could be forced to pay a double penalty, legislators said.
“The state of Connecticut should not be used as the scapegoat or the excuse for AIG to pay these outrageous” bonuses, said House Republican leader Lawrence Cafero of Norwalk.
Read the whole story to hear the outrage from all of the lawmakers … ummm … who wrote and passed the law.