Have you ever had one? Most employers have. She’s aligned with the CEO. He’s too close to our customers or clients. She’s in protected categories and will sue us. He’s a problem child all right, but he’s our top producer. As we keep convincing ourselves that we just can’t fire this employee, she reeks havoc in our workplace.

For some reason, American International Group comes to mind. How many times have we been told — by two Presidents, two Treasury secretaries, one Fed Chairman, members of Congress, and enlightened economists — that AIG is too big to fail? We can’t fire AIG.

That’s why we’ve bailed them out with billions of dollars, with no end in sight. That’s why, we’re now told, that even those who knew about the recent bonuses several weeks ago didn’t do anything to stop their payment. Why, those entitled to receive them might sue, and that could unravel the entire bailout. (Click here for a post about legal theories that could have been used to thwart the payment of the bonuses.)

Most of the time, employers finally decide that the employee who couldn’t be fired can be. But it takes a long time to recover from the damage caused by that employee.

That’s sort of the way I’m feeling about AIG. I have a hard time believing that one company, even though it’s tentacles reach into businesses around the world, is so big and important that it can’t be allowed to fail. My guess is that the President, Treasury Secretary, Fed Chairman, Congress, and pontificating economists (there are economists, by the way, who’ve always believed AIG isn’t too big to fail) will also come to this conclusion. In the meantime, billions will be spent, perhaps completely wasted, and taxpayers will be left holding the bag.