They're back. Like some sort of Poltergeist, where executive compensation has no relationship whatsoever to job performance.

Bloomberg:

Bailed-out insurer AIG again found itself in the crosshairs of bonus rage on Friday over its plans to pay $2.4 million in executive bonuses next week.

But the larger issue is how AIG will deal with its obligation to pay roughly $235 million still owed to employees of its crippled financial products division.

Déjà vu? A very nasty ghost in the machine? How about diversion instead?

Ah, are we going to see another funneling of taxpayer money to Goldman Sachs via credit default swaps again? Executive compensation sure is one hell of a cover for Populist rage all the while the real massive ripoffs occur in the noise of the hatred and bellowing Congressional hearings.