AIG mess

[sr71blackbird]

I am wondering something. AIG was given stimulous money and I assume no one who approved the money looked into their contrats with their employees to see if they would get bonus's, right?
I suspect if they knew before hand, some kind of provision for the stimulous would have been worked out as a condition, right? Whose fault is it if this contract existed with AIGs employees and do we have the right to tell a buisness how it should be run?

[OGC]

I think a better question would be how can these executives qualify for bonuses if they ran the company (almost) into the ground ? Don't you sort of have to succed to get a bonus ?

[TooLowBrow]

my guess is that the bonuses were added after the stim money came in

an unsuccessful company wouldn't have been able to give any bonuses out

when they got the money they gave bonuses to their 'top earners/best leaders'

if they didnt, those people wouldve left the sinking ship

this was the company's attempt too hold onto previously successful employees

now theyll have to hire, who?, to head the company?

wholl do that job without a huge cash incentive?

[lleeder]

I like that the bonuses will impact future money they get. Its like:

"Hey here's some free money. You spent it on that? Now I'm gonna give you less free money next time. "

What the fuck?

[underdog]

This thread has nothing to do with wet panties.

[Snoogans]

my guess is that the bonuses were added after the stim money came in

an unsuccessful company wouldn't have been able to give any bonuses out

when they got the money they gave bonuses to their 'top earners/best leaders'

if they didnt, those people wouldve left the sinking ship

this was the company's attempt too hold onto previously successful employees

now theyll have to hire, who?, to head the company?

wholl do that job without a huge cash incentive?
alot of the bonuses also went to the same execs who ran the company into the ground

[Devo37]

the bonuses were known about prior to the bailout. the original bailout said that bonuses on contracts negotiated before a specific date were going to be paid out. it's only after the public uproar that congress/the white house feigned outrage.

meanwhile, if the govt didn't step in, the company would've gone belly-up and nobody would be getting paid.

these bonuses are just smoke-screen to draw attention away from the larger issue: that billions of dollars of the bailout money is being paid directly to foreign banks that AIG had shady dealings with.

why has there been no audit of this stinker of a company?!?!? :furious:

[STC-Dub]

There are struggling/failing companies besides AIG that have given bonuses to employees. Our lawmakers have a hard time playing hard ball with these companies and their executives who have been very generous to their campaigns in the past. And where their colleagues often go to wok after they leave congress, or at least they used to.

[Devo37]

There are struggling/failing companies besides AIG that have given bonuses to employees. Our lawmakers have a hard time playing hard ball with these companies and their executives who have been very generous to their campaigns in the past. And where their colleagues often go to wok after they leave congress, or at least they used to.

among the many guilty in Congress is Sen. Chris Dodd, who was one of the idiots that added a provision in the first bailout that allowed for the pay-out of executive bonuses.

coincidentally, AIG donated more than $100,000 to Dodd's most-recent political campaign. they're all in bed together, with us shmoes paying the bill!!!


i think Turbo-Tax-Dave said it best in the last 10 seconds of this video:
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:furious::furious::furious:

[9mileskid]

it's bushes fault maaaaaaaaaaaaan!

[sr71blackbird]

Chris Dodd shuld be run out of town on a pole. Shame on Congress for not checking this shit. Barney Frank is an asshole, trying to force the names of the people that got the bonus' when its clear they and their families and children have received death threats. The bonus' were legal and known before the bale out. Shame os us for not insisting that Congress give out our money responsibly.

[foodcourtdruide]

I think obama is trying to create a change in the public perception of corporate culture with his reaction to this bailout. Honestly, I think it's needed, but that's just my own political feelings and bias.

[west milly Tom]

This little bonus situation has exposed our liberal leaders for what they are, frauds. Geitner and Obama both knew ahead of time. Dodd claims he was persuaded by the executive branch to change bonus exclusion language, and Obama had that fake tirade about the bonuses at the press confernce. Just gross. Cue mojo...

[A.J.]

Chris Dodd shuld be run out of town on a pole.

Please. He and Lieberman are there for life. The idiots back in CT think he's the bee's knees.

[Freitag]

I have to do some more research into this, but I think this is one part media manipulation and one part AIG fouling up.

There is only one part of AIG that led to their meltdown - Financial Products. Now, is the pool of 165 million in bonuses JUST going to Financial Products or is it going company wide?

[Jujubees2]

This is just a big PR event for the politicians. I love how one is going to introduce a bill that the AIG bonuses should be taxed at 90%!

And Congress is grilling the poor guy who took over the company AFTER the contract with the bouses was agreed to and he's only making $1 a year. If I was that guy I would tell Congress to stick it.

[sr71blackbird]

Exactly! Why are they hammering him? What is he getting out of it?? So stupid. Politicans can't handle the money they have now, and they want more of our money? Fuck them!! Both sides share blame in this.

[CountryBob]

I am not too sure that government bailout money was the right thing. Also, We would be better off not knowing where those billions went after AIG got it. It just keeps this terrible economic disaster screwing up the perception of the economy and making my 401k lose more $$.

[kdubya]

I think a better question would be how can these executives qualify for bonuses if they ran the company (almost) into the ground ? Don't you sort of have to succed to get a bonus ?


That's the question I keep asking.

[sr71blackbird]

So, if they tax the bail out moneys bonus's at 90%, its okay, right? As long as the government gets it's cut! Horrible!

[sailor]

So, if they tax the bail out moneys bonus's at 90%, its okay, right? As long as the government gets it's cut! Horrible!

i hope they just give everyone 10 times their original bonus because this is so ridiculous on the government's part.