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In the uproar over the million-dollar bonuses given to AIG executives, AIG’s defenders claimed that the company was forced to give out these bonuses because of contracts it signed with the executives. In Sunday’s St. Petersburg Times, columnist Robyn Blumner uses AIG and United Airlines to make a terrific point about the disgraceful inequities in bankruptcy laws that give rank-and-file workers’ pensions the shaft, while executives can still walk away with millions. Give it a read.
Ms. Blumner references a 2007 bill that would have helped protect workers and retirees in bankruptcy. Check out our summary of the bill and our testimony on it.
