AIG paying out the Big Bonuses!

Status
Not open for further replies.
The state of New York doesn't own 80% of the company, the Feds do. If anyone has a legal basis to get those names the Feds do, but I doubt they really have a basis either.

Do we really want the government publishing people's private information because it doesn't like a companies compensation structure?
Serious privacy issues here.

How about the banks that received bailout money via AIG? Are they fair game as well?
 
Sorry, pal ..they accepted public money ..they make themselves subject to public scrutiny.

..and yes, banks that got money should be compelled to show how it was used.

Or are you saying that government money ..tax payer money can be handed to your pals without accounting? You ENDORSE such back door use of taxpayer money? You believe in such stuff?

Shame on you, Tempest.
grin2.gif
 
Agreed. Scrutiny is deserved. This bailout was to preserve credit and some banks from going under, not to retain "talent".

And, for someone to "deserve" a bonus after running their company into the ground, even if there is a contract obligating it, is ridiculous.

All these folks want bailouts and to not go into bankrupcy, because they want to maintain the fat bonuses for their cronies. If these companies went bankrupt... yes, yes, the big bad unions would be busted... la dee dah... but the bonuses would also be null and void.

The "executives" earning billions in bonuses have much more to gain or loose than any wage laborer.

People wont let their companies go into bankrupcy because they all have bonuses on the line. Its all a big game.

Let the companies go under, and let the bonuses evaporate. Those sitting on a few million wont miss it. And had they done a good job, they would still be getting their bonuses.

This is a "bonus" after all, not even "salary".
 
There is scrutiny. The current CEO was government appointed and he got a total pass today for allowing this. Why do you think that is?

And I agree that they should never have been bailed out and there is more and more evidence that it was a bad move.
 
And I thought 165 million was bad.....

Mr Cuomo is locked in a legal battle with Bank of America (BoA) over the names of bonus recipients at Merrill Lynch, the investment bank bought by BoA last September. A New York judge is expected to rule this week on whether the names of Merrill bankers that were paid $3.6 billion in bonuses in December can be made public.
 
If they reveal their names what will become of it?
Weren't they given the money ---no strings attached ?
 
Originally Posted By: Tempest
Originally Posted By: PandaBear
Originally Posted By: newpassatt
I guess that's what the American people deserve when they voted in the current President. Do you really believe nobody saw this coming? As far as bonuses are concerned, I think it's very poor business judgment to pay them; a bonus is just that, a reward for a job well done. It has nothing to do with any bailout money given to them by the American people. The government does NOT belong in the private business sector. This bonus payout just points out the fact that this is a poorly run business and should be allowed to fail. Giving them more of my money obviously will not change anything. Keep the gov't out of our lives as much as possible!


Tempest?

No. I only have one account here. Nice try though.


The real story is that AIG is being used to launder money to other people.
Quote:
Goldman Sachs Group Inc and a parade of European banks were the major beneficiaries of $93 billion in payments from AIG -- more than half of the U.S. taxpayer money spent to rescue the massive insurer.

http://in.news.yahoo.com/137/20090316/371/tbs-aig-massive-payments-to-banks-stoke.html
So everyone is up in arms over $160 million in bonuses to Americans yet they have transferred tens of billions to foreign banks and there is barely a mention.
smirk2.gif

WAKE UP.

NY attorney general wants names and numbers of receivers. He is actually trying to prevent $168 million from entering his state's economy. How moronic can you be? Is this any different from stimulus? NO.

Almost forgot. The morons in DC put no limitations on what these companies do with the money and now they come back and complain....
smirk2.gif



You are right Tempest, this should be the real story.
It should be plastered over the evening news every night on every channel this and how Goldman Sachs would short their own investors, basically gaming one side of the company with the other, and creating nothing but doom and destruction in their wake for their own profit. And who was the Chairman and CEO of G-S when the looting was in full swing, none other than now Secretary of Treasury, Paulson. AIG was no better. Every time you hear the names AIG (spit) and Goldman Sachs (spit), every American should spit.
Know anybody that worked for these firms? spit on them.
No matter how nice people you think they are, spit on them.
No institutions that gamed the system as much as these have should ever be allowed an ounce of respect in the eyes of the public. Spit on them.
 
Originally Posted By: Tempest
Why should AIG comply with an illegal request?


For public relation and marketing reason? It is not good to offend your customer and / or your biggest share holder.

Government doesn't have to bail AIG out, at least it wasn't legally required to. It could just wait till it file for bankruptcy and then scoop it up for free.
 
Originally Posted By: PandaBear
Originally Posted By: Gary Allan
Shame on you, Tempest.
grin2.gif



He doesn't care as long as he got his tax cut.

What tax cut? There is no tax cut anywhere.

What we do have is Congress PROTECTING these bonuses in the bailout bill:
Quote:
That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses ----- and others are seeking to tax. The amendment is in the final version and is law.

http://michellemalkin.com/2009/03/17/chris-dodd-for-aig-bonuses-before-he-was-against-them/
Of course now the same people want a special tax to take the money away from people.
smirk2.gif


And the Gov. knew about these bonuses long ago but just brought it up at the 11th hour so there was no time to do anything about it.
http://davidgoldsmith.com/wordpress/?p=1486

It's very interesting what politicians were taking money from AIG as well.

This is a GIANT bait and switch scam going on so that the American public won't pay attention to where the real laundered money is going to through AIG. Namely foreign banks and other connections.

This really shows how useless the main media is.
 
Some people did see this coming. In fact, they put specific language into the stimulus package to allow it.

While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” -- which exempts the very AIG bonuses Dodd and others are now seeking to tax.

http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/

I guess public outcry has them re-thinking that position?
LOL.gif
 
The important question is ..for you, Tempest, do they "deserve" it now that the money is taken by gunpoint??

..or are these nobles different? Aren't they going to "trickle down" your money back to you and provide employment? The Gov. just "helped wealth" ..like you assert that they should.

Why are you unhappy?
 
Cuomo said that despite their contracts, Financial Products employees agreed to take 2009 salaries of $1 in exchange for receiving their retention bonus packages. He said the fact AIG could negotiate the terms of the payments "flies in the face of AIG's assertion" that it had no choice but to make the contractual bonus payments.

"You could argue if the taxpayers didn't bail out AIG, those contracts wouldn't be worth the paper it's printed on," he said Monday.

There was no immediate AIG comment following Cuomo's disclosure Tuesday of the bonus amounts.

According to the attorney general's office, the top individual bonus was more than $6.4 million, and the top seven received more than $4 million each.

**Anyone here agree to work for a $1 a year if you can get a guaranteed 4 million bonus? I don't know if it's worth it.
 
Originally Posted By: ZZman


**Anyone here agree to work for a $1 a year if you can get a guaranteed 4 million bonus? I don't know if it's worth it.


Can I try it for a year and get back to you?
grin2.gif
 
Originally Posted By: ZZman
Cuomo said that despite their contracts, Financial Products employees agreed to take 2009 salaries of $1 in exchange for receiving their retention bonus packages.


That's a stupid marketing move that is misleading the general public. Yeah we will take only $1 salary, but make it all back in the bonus in the same amount.

A guy from the Donald Trump show got fired because he was taking risk that has no return, bad business decision.
 
Originally Posted By: Tempest
Originally Posted By: PandaBear
Originally Posted By: Gary Allan
Shame on you, Tempest.
grin2.gif



He doesn't care as long as he got his tax cut.

What tax cut? There is no tax cut anywhere.



Oh yes there is, it is here.
 
Originally Posted By: PandaBear
Originally Posted By: Tempest
Originally Posted By: PandaBear
Originally Posted By: Gary Allan
Shame on you, Tempest.
grin2.gif



He doesn't care as long as he got his tax cut.

What tax cut? There is no tax cut anywhere.



Oh yes there is, it is here.

There is no tax plan there. It's all hypothetical.
smirk2.gif


Now if you want to take a look at the real tax plan and why there are no tax cuts:
http://www.heritage.org/Research/Budget/bg2249.cfm
 
Status
Not open for further replies.

Similar threads

The Critic
  • Locked
Silicon Valley Bank (SVB) Collapses
20 21 22
Replies
424
Views
15K
Astro14
SwampSurvivor
Finally Sold My Old House! What an adventure!
2
Replies
24
Views
3K
SwampSurvivor
O
The company cars of American Greeting Corp., and the bad things we did to them, 1980-2013
Replies
4
Views
2K
earlyre
1 SX
Questioning my decision - the full rundown.
2 3 4
Replies
77
Views
6K
AITG
JeffKeryk
  • Locked
Stimulus Payments; Are we all in the same boat?
Replies
1
Views
1K
Revving2Redline
Back
Top