AIG Money

I recently got to thinking about the whole AIG bailout/executive bonus situation. Everybody seems to be totally outraged and regard the executives are horrible people. I heard somewhere that there have even been death threats against their families. While the situation does suck, I got to thinking about the bigger picture.

In the book Blue Like Jazz by Donald Miller, the author is talking to a friend of his about all of the civil war - genocide crap in Africa. His friend asks Donald about the difference between the killers in Africa and themselves was. After some thinking, Donald realizes that there is no difference - to say there is a difference is to imply that people are born evil based on geographic location. While environment is a very strong influence in someone's life, Donald realizes that he is no different from a nazi, a Tibetan, or Mother Theresa.

Back in the late 1800's/early 1900's a prominent British newspaper (The Times) sent out letters to big-time authors inviting them to write essays on the theme "What's Wrong with the World?" One author, G.K. Chesterton, responded with a letter:

Dear Sirs,
I am.
Sincerely Yours,
G.K. Chesterton

Now, what is the difference between me and an AIG executive? Some education, some experience, lots of money. Deep down, though, do I have some characteristic, heart-level difference that I was born with? I can't believe that I do. If I were in the same situation, would I take the bonus money? I will respond with a story:

When I was in Boston a couple of weeks ago, our trip organizers paired us all up, gave us $21, and told us our goal was to take a homeless person out to dinner. My partner and I searched far and wide, walking from Copley Square to Berkeley to the MFA. No homeless people in sight. In failure, we got some sandwiches at Brueggers and returned to Dorchester. In total, our meal cost about $15, leaving me with a net gain of $6. Without really thinking about it I kept the $6. I didn't maliciously steal it, I didn't avoid talking about it, I didn't feel any sort of moral dilemma. This money was given to me to spend. I still don't feel any sort of conviction about taking the money.

Now multiply that $6 by 240,000 and you have the average AIG bonus. Where does amount of money denote magnitude of crime? Both AIG executives and myself took money that was given to us. Do other people need that money more than myself and the AIG execs? Yes. Is it our money, though? Yes. So who gets to be the moral police telling us to give away our money? Isn't that up to us?

Now the big picture -- is AIG lame for dolling out tax money for bonuses? Yes. Tax the shit out of it. That money needs to be put to better use. There is a time and a place for big government regulation, and it looks like this might be a time for it. I guess my conclusion is, though, that the AIG execs who got the bonuses aren't evil. They simply accepted what their company decided was deserved to them. I hate to admit it, but in the same circumstances I would do exactly the same thing.

I guess the goal of the next 60 years of my life is to make sure I don't get into the same circumstances.