 
Bigb23
Member
Username: Bigb23
Post Number: 4196
Registered: 11-2007
| | Posted on Saturday, March 14, 2009 - 9:07 pm: |    |
WASHINGTON — Despite being bailed out with more than $170 billion from the Treasury and Federal Reserve, the American International Group is preparing to pay about $100 million in bonuses to executives in the same business unit that brought the company to the brink of collapse last year.} |
Jams
Member
Username: Jams
Post Number: 7886
Registered: 10-2003
| | Posted on Saturday, March 14, 2009 - 9:45 pm: | |
...and they're not UNIONIZED? |
Flanders_field
Member
Username: Flanders_field
Post Number: 1806
Registered: 01-2008
| | Posted on Saturday, March 14, 2009 - 9:55 pm: | |
Their bonuses are completely deserving and understandable, as their income over $250,000 may become taxed at a higher rate under President Obama's plan.
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Alan55
Member
Username: Alan55
Post Number: 2622
Registered: 09-2005
| | Posted on Saturday, March 14, 2009 - 11:25 pm: | |
The biggest laugh is AIG's excuse for paying these bonuses - they say that they are "contracturally obligated" to pay these bonuses to the execs!
Somehow, after having no trouble renegotiating contracts with creditors and low-ranking employees, corporations get terribly confused on how to renegotiate contracts with their own execs. |
Iseries840
Member
Username: Iseries840
Post Number: 1030
Registered: 08-2005
| | Posted on Sunday, March 15, 2009 - 11:02 am: | |
You socialists need to mind your own business and let the free market work! |
20043_stotter
Member
Username: 20043_stotter
Post Number: 832
Registered: 03-2007
| | Posted on Sunday, March 15, 2009 - 2:43 pm: | |
This will only add more socialists to their camp.
The must be nuckin' futs to do this bonus shit. |
Ccbatson
Member
Username: Ccbatson
Post Number: 19421
Registered: 11-2006
| | Posted on Sunday, March 15, 2009 - 3:25 pm: | |
Too late, bailout money received. Government owned (in part), until, or unless the money is returned. |
Detroitej72
Member
Username: Detroitej72
Post Number: 1326
Registered: 05-2006
| | Posted on Monday, March 16, 2009 - 9:06 pm: | |
A week ago, that shitty comedian Rush was actually defending their tax-payer golf outing om the air. He said liberals don't understand that most serious work is done on the golf coarse.
Now he thinks the executives deserve their bonus money. I think he is still high on his drugs, he can't be for real.
The fact that this asshole has any cred with people is a sad testiment of how out of touch some in this country really are. |
Ccbatson
Member
Username: Ccbatson
Post Number: 19463
Registered: 11-2006
| | Posted on Monday, March 16, 2009 - 10:46 pm: | |
What nerve (I am not joking...at least not entirely), this would be like the post office pissing away its' funding. |
Royce
Member
Username: Royce
Post Number: 1674
Registered: 07-2004
| | Posted on Tuesday, March 17, 2009 - 2:18 am: | |
The govt can't just tell AIG that they are calling in their loans early? Maybe then, when AIG realizes that without this bailout money that they will go bankrupt, they'll think twice about distributing the bonuses. |
Defendbrooklyn
Member
Username: Defendbrooklyn
Post Number: 984
Registered: 11-2005
| | Posted on Tuesday, March 17, 2009 - 8:12 am: | |
Iseries840,
I hope you are being sarcastic? |
Johnlodge
Member
Username: Johnlodge
Post Number: 9635
Registered: 10-2003
| | Posted on Tuesday, March 17, 2009 - 9:21 am: | |
quote:The biggest laugh is AIG's excuse for paying these bonuses - they say that they are "contracturally obligated" to pay these bonuses to the execs!
Didn't UAW workers also have contracts? Seems they had to renegotiate and make concessions in order for the auto companies to receive money.
Once again, no such standard for the fat fucks on Wall Street. |
Bigb23
Member
Username: Bigb23
Post Number: 4206
Registered: 11-2007
| | Posted on Tuesday, March 17, 2009 - 9:54 am: | |
I found that article on Google News, Saturday, and now they are reporting this morning, more than $170 Million in bonuses !
Human greed has no bounds. |
Oladub
Member
Username: Oladub
Post Number: 1321
Registered: 08-2006
| | Posted on Tuesday, March 17, 2009 - 10:22 am: | |
AIG should have been allowed to go bankrupt. Smaller more efficient banks would have picked up the salvagable pieces instead of forcing the taxpayer to swallow the garbage. Bush and those in Congress who voted for his bailout are responsible for this situation. The bailout specified that Congress would have no more say into how the TARP money was distributed. For grandstanding politicians who voted for Bush's bailout to now be attacking contract law and greed is a bit disingenuous. The larger arena of greed was exhibited by the bought politicians who gave new life to corruption at the taxpayers' expense. |
Flanders_field
Member
Username: Flanders_field
Post Number: 1815
Registered: 01-2008
| | Posted on Tuesday, March 17, 2009 - 10:29 am: | |
The executives that will receive the bonuses are employed at the London subsidiary AIG Financial Products, so they are relatively insulated from public criticism, demonstrations, or protests by being located on the other side of the pond. Much of their bonus money and salaries likely have and the former will be spent and invested in the UK as well. |
Oladub
Member
Username: Oladub
Post Number: 1323
Registered: 08-2006
| | Posted on Tuesday, March 17, 2009 - 10:47 am: | |
I don't know anything about British contract law. Perhaps it would be possible to break their contracts. Catherine Austin Fitts claims that $600B of bailout, FED, and treasury money has been used to shore up foreign banks. |
Detroitnerd
Member
Username: Detroitnerd
Post Number: 3667
Registered: 07-2004
| | Posted on Tuesday, March 17, 2009 - 10:50 am: | |
And AIG is also suing the IRS for more than $300 million in overpaid taxes! |
Lefty2
Member
Username: Lefty2
Post Number: 2977
Registered: 07-2007
| | Posted on Tuesday, March 17, 2009 - 11:31 am: | |
Now the government is running companies and telling what them to pay people, great.
Why not tell Barney's Frank and his prostitute boyfriend to work for free since he fucked up the whole economy by forcing banks to give worthless loans to losers.
They now come out after the fact of giving them billions and try to run the company, how fing stupid are the democrats.
Now the democrat geniuses who ran the economy into the ground will soon run the auto companies and all the other companies who they socialize. |
Sturge
Member
Username: Sturge
Post Number: 281
Registered: 05-2007
| | Posted on Tuesday, March 17, 2009 - 11:32 am: | |
The gov't gave AIG the money with no strings attached. That's what you get. |
Detroitnerd
Member
Username: Detroitnerd
Post Number: 3671
Registered: 07-2004
| | Posted on Tuesday, March 17, 2009 - 11:35 am: | |
I posted this last September. But now it's no longer satire, it's fact:
Hi, we're the banking industry. Yeah, we have been lending money out like crazy. Know why? We found some suckers to buy the loans we made, even though they're worthless! We made a pile of money doing it.
Only thing is, now we're so far in debt it looks like WE might go bankrupt. Haha. The free market is a harsh mistress sometimes.
That's why we'd like YOU (and your children, and your children's children) to bail us out, so we can continue to lend money the same reckless way we've done it. No strings attached, though! The agreement we've drafted is short, gives us total control, and could fit on a king-size cocktail napkin. You give us the money, we stay in business. All YOU have to do is pay for it all.
Then, as we go ahead into a period of economic uncertainty, we just might be able to continue lending money and allowing you to withdraw your money that we're holding onto for you.
But then again, maybe not! Remember! We want NO STRINGS ATTACHED to the money you are giving us so we can lend it back to you. No regulation, no oversight, no intrusive legislation, and NO QUESTIONS ASKED.
So, now that we have our loaded gun to your head, will you please fork over all that money? We'll try to keep things running, but, remember, we reserve the right to do whatever we want anyway. |
Bigb23
Member
Username: Bigb23
Post Number: 4208
Registered: 11-2007
| | Posted on Tuesday, March 17, 2009 - 11:38 am: | |
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Detroitnerd
Member
Username: Detroitnerd
Post Number: 3672
Registered: 07-2004
| | Posted on Tuesday, March 17, 2009 - 11:45 am: | |
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Johnlodge
Member
Username: Johnlodge
Post Number: 9639
Registered: 10-2003
| | Posted on Tuesday, March 17, 2009 - 11:51 am: | |
Awesome. |
_sj_
Member
Username: _sj_
Post Number: 1729
Registered: 12-2003
| | Posted on Tuesday, March 17, 2009 - 3:14 pm: | |
quote:AIG should have been allowed to go bankrupt. Smaller more efficient banks would have picked up the salvagable pieces instead of forcing the taxpayer to swallow the garbage.
What about the 11 million people who have money that involves AIG. |
Detroitnerd
Member
Username: Detroitnerd
Post Number: 3677
Registered: 07-2004
| | Posted on Tuesday, March 17, 2009 - 3:28 pm: | |
What about the 250 million people who are paying for this bullshit? AIG could be bought and nationalized for pennies on the dollar. And smaller banks could competently administer the federal monies in a transparent manner.
Instead we have this huge giveaway, just shoveling money into the furnace. And it's not our money either. It's our children's money. And their children's money.
The whole debate over this issue is one of obfuscation and nonsense. |
Danindc
Member
Username: Danindc
Post Number: 4568
Registered: 10-2003
| | Posted on Tuesday, March 17, 2009 - 3:33 pm: | |
quote:What about the 250 million people who are paying for this bullshit? AIG could be bought and nationalized for pennies on the dollar. And smaller banks could competently administer the federal monies in a transparent manner.
Oh, we can't do that, no matter how much sense it makes, or that we've already done it with dozens of smaller banks. Sweden did the same thing, and well, they're SOCIALIST!!! Therefore = BAD. |
_sj_
Member
Username: _sj_
Post Number: 1731
Registered: 12-2003
| | Posted on Tuesday, March 17, 2009 - 3:36 pm: | |
quote:What about the 250 million people who are paying for this bullshit?
No one really cares about them when they are the ones receiving the handouts.
Also, the OP was talking about bankruptcy. |
Ray1936
Member
Username: Ray1936
Post Number: 3995
Registered: 01-2005
| | Posted on Tuesday, March 17, 2009 - 3:44 pm: | |
It is satisfying, anyway, to see all the uproar over the AIG bonus babies. Unfortunately, I don't see any way to rectify the situation. |
Danindc
Member
Username: Danindc
Post Number: 4569
Registered: 10-2003
| | Posted on Tuesday, March 17, 2009 - 3:57 pm: | |
There's an op-ed piece in today's New York Times that says the bonuses may be necessary, as despicable as they seem. It seems the only people who know how to undo the AIG mess are the scheming idiots who concocted the derivatives. If they don't get their bonuses (for what, no one really knows), then they could reasonably leave the company, leaving no one around to figure out exactly what it is the hell they did. |
Jams
Member
Username: Jams
Post Number: 7904
Registered: 10-2003
| | Posted on Tuesday, March 17, 2009 - 4:02 pm: | |
So let them check craigslist for $8/hr jobs like the rest of us screwed by them. |