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I hope this thought process goes further. Anytime the tax payers have to pitch in there needs to be major restrictions.
http://news.yahoo.com/s/ap/20090316/ap_ ... ig_outrage


Obama will try to block executive bonuses at AIG

If Obama's fair-haired boy Timmy and his other cronies (who worked directly with Paulsen and his gang of baffoons) had been doing their job in the Treas. Dept. when the original TARP money was thrown out, we wouldn't be dealin' with this chit now. Righteous indignation after the fact is jist blow! They didn't regulate the money given to the criminals in the first place so naturally they continued to act irresponsibly as usual! WTF else would you expect the a$$holes to do? Sheeesh! And if you think they've learned their lesson, I have somethin' extra special to sell ya!

and a VERY good point

They should not have honored the bonus plan. Let the fat bastards sue them. I would say they would have lost in court. What Justice would go against the public in a situation like this. Wo4rst thing is they probably could have cut a deal with the ones who received the bonus. It just might have saved half of what they paid. I made money last year and I didn't get a bonus. I guess I should have wasted the cash and maybe the pricks would give me some bail out funds. Sad state of affairs. Bailing out banks is not the only answer, you need to help the small business that is laying off the blue coller workers and let them get back to work, then you won't have forclosures or folks losing their cars or God forbid their boats. To me it's all BS. The banks are to big. Split them into several smaller banks, let the local bankers deal with the folks they know. Whew I'm tired and I am not even close to being finished.

This whole deal just REALLY makes me mad, can you imagine if you were one of the thousands of people who have lost their jobs and their homes and basically everything they owned and they see this going on!!!! I don't care what agreement you made with your staff, the fact is that you were bankrupt, I doubt very much that any of you with businesses could have paid salary let alone bonus to your staff if you were bankrupt.

I hope everyone remembers though, that the original Bailout money for AIG came from Bush's administration and not Obama's. That's not to say that both Republicans and Democrats are not responsible, they were all involved in the original TARP agreements (or lack of agreements apparently!) so there is plenty of blame to go around. I just don't want everyone to give Bush a free ride on this piece of crap!!!

I say, let the dust settle, let the economy get back on track, then sue each and everyone of the people who got the bonuses for every cent back! Unfortunately there probably isn't a law to allow that to be done!

I agree 100% these guys don't deserve a bonus. These companies lost money! WHAT THE HELL ARE THEY GETTING A BONUS FOR?
Some say its part of a contractual agreement made when these guys signed on with the firm. Then just make sure the Bailout money does not go to pay bonuses. Its simple!
BUT this whole thing is the government trying to find a different villain. Your now mad at AIG and the banks, right. You've forgotten all about the BILLIONS AND BILLIONS the government just gave these guys with NO strings attached. Who is the real villain here?
165 million in bonuses is chump change compared to the hundreds of BILLIONS of dollars they are just passing out right and left.

Would you turn down a million dollar bonus if you were contractually promised one a year ago. I wouldn't, even if I didn't deserve it.
Again.......... don't forget the real villain here!!!

KYCanuck wrote:I hope everyone remembers though, that the original Bailout money for AIG came from Bush's administration and not Obama's. (

Ya know I was just thinking about that earlier today and was going to say that when I got home and you beat me to it. They are all frickin rat B@$T@rds...

E_HILLMAN wrote:

KYCanuck wrote:I hope everyone remembers though, that the original Bailout money for AIG came from Bush's administration and not Obama's. (

Ya know I was just thinking about that earlier today and was going to say that when I got home and you beat me to it. They are all frickin rat B@$T@rds...

Don't hold back now, just come out of your shell and say what you feel!!!!!!

WaterWings wrote:(edited) Some say its part of a contractual agreement made when these guys signed on with the firm. Then just make sure the Bailout money does not go to pay bonuses. Its simple!
BUT this whole thing is the government trying to find a different villain. Your now mad at AIG and the banks, right. You've forgotten all about the BILLIONS AND BILLIONS the government just gave these guys with NO strings attached. Who is the real villain here?

I wonder what kind of contract guarantee's a Bonus even when the company doesn't make money and actually goes bankrupt!!!!! I would love a contract like that!

You are right WW, the government boneheads who gave this money out without connditions is partially the villain here but AIG management is also a villain. Giving this money out as a bonus when they know it is taxpayers money? I dont' blame the people who received the bonus, I would have taken it too!!!

The other point you made I agree with as well, what is $165 Million out of $170 Billion they have received! In the end this money will get lost in the paper trail and nobody will ever see it back. I hope we learn our lessons and move on before this scandal derails the slight improvement we have seen the last week and a half.

I had to laugh this morning as the folks that got the bonuses are not showing up for work. Almost all of them have received death threats (wonder why?) They said that they fear for their lives and the lives of their families. DUH! Now who would have thought that? You screw every US citizen and think that a few crazy folks won't come and bump you off. Read the news, everyday someone is killing someone else. I bet we will see a murder or 2 come from this. Sad state of affairs.

E_HILLMAN wrote:

KYCanuck wrote:I hope everyone remembers though, that the original Bailout money for AIG came from Bush's administration and not Obama's. (

Ya know I was just thinking about that earlier today and was going to say that when I got home and you beat me to it. They are all frickin rat B@$T@rds...

Hmmmm....Didn't I say that in the second post! Hey, I may be old and blonde but I ain't as stoopid as E!

LOL, you didn't specify

Kudlow makes some good points here especially this observation concerning the two faced Obama

"has anybody asked Team Obama why it is more than willing to break mortgage contracts with a bankruptcy-judge cram-down, but won’t cram-down compensation agreements for AIG, despite the fact that the U.S. government owns the company? Kind of odd, don’t you think? "




The AIG Outrage
Tuesday, 17 Mar 2009 | 5:44 PM ET Posted By: Larry Kudlow
Anchor

This whole AIG fiasco -- where the entire political class is suddenly screaming over bonuses paid to derivative traders in AIG’s financial-products division -- is just a complete farce. What it really shows is how the government has completely bungled the AIG takeover. Blame the Bush administration and the Obama administration. It also shows, once again, why the government shouldn’t run anything, because it cannot run anything.

AIG [AIG 1.38 0.42 (+43.75%) ]should have been placed in bankruptcy last fall under some sort of government sponsorship. While in bankruptcy, all the salary contracts (and every other AIG contract) would have been nullified and voided. At the same time, there would have been an orderly liquidation and sale of AIG’s assets and separate divisions.

But as things stand now, there still is no clear roadmap for the dissolution of AIG. There are ideas, but nothing is set in concrete.

And as for the $165 million or so in AIG bonus payments, the Obama administration -- including the president, Treasury man Tim Geithner, and economic adviser Larry Summers -- knew all about them many months ago. They were undoubtedly informed of this during the White House transition.

So there’s no big surprise. Nobody should be shocked. But President Obama is doing his best play-acting ever. He knows full well that the nationwide outcry against federal bailouts and takeovers is only going to get worse on his watch. His poll numbers are already falling, and this AIG episode is going to pull them down more.

Incidentally, has anybody asked Team Obama why it is more than willing to break mortgage contracts with a bankruptcy-judge cram-down, but won’t cram-down compensation agreements for AIG, despite the fact that the U.S. government owns the company? Kind of odd, don’t you think?

The Wall Street Journal editors get it right when they ask: Who’s in charge and what’s the game plan? The whole AIG story is an outrage.

What’s more, AIG is acting as a conduit for taxpayer money that is being sent to dozens of derivative counterparties, including foreign banks and American banks like Goldman Sachs. If we’re going to bail out all these other firms, why not bail them out in full taxpayer view? Why is the money being laundered furtively through AIG? And where exactly is the end game for AIG? How are the taxpayers going to be repaid?

And what is Treasury man Geithner’s role in all this? He appears to be the biggest bungler in what has become a massive bungling. My CNBC friend and colleague Charlie Gasparino thinks Geithner can’t survive this. I am inclined to agree.

re3too wrote:

E_HILLMAN wrote:

KYCanuck wrote:I hope everyone remembers though, that the original Bailout money for AIG came from Bush's administration and not Obama's. (

Ya know I was just thinking about that earlier today and was going to say that when I got home and you beat me to it. They are all frickin rat B@$T@rds...

Hmmmm....Didn't I say that in the second post! Hey, I may be old and blonde but I ain't as stoopid as E!

Do not be so sure ????
So If Dodd got the Most $$$$$$ Dodd is a DOG

Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., arrives for a AP – Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., arrives for a hearing on modernizing …

* Sen. Christopher Dodd Slideshow:Sen. Christopher Dodd
* Governor, Cabinet Member Launch Calif. Green Corps Play Video Presidential Transition Video:Governor, Cabinet Member Launch Calif. Green Corps CBS 13 / CW 31 Sacramento
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Sen. Chris Dodd (D-Conn.) looks like he may be facing a fresh political firestorm.

Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward – after previously denying any involvement in writing the controversial provision. .

“We wrote the language in the bill, the deal with bonuses, golden parachutes, excessive executive compensation that was adopted unanimously by the United States Senate in the stimulus bill,” Dodd told CNN’s Wolf Blitzer this afternoon.

“But for that language, there would have been no language to deal with this at all.”

Dodd had previously said that he played no role in writing the controversial language, and was not a part of the conference committee that inserted the language in the bill. As late as today, Dodd’s spokeswoman denied the senator’s involvement.

The AIG bonuses have caused a political firestorm, with Republicans and Democrats alike looking to lay blame for who’s responsible, and leading lawmakers looking to revoke the bonuses.

Dodd’s role in the legislation will likely come up as he faces the likelihood of a tough re-election. Former GOP congressman Rob Simmons announced he was running this week, and has already taken issue with Dodd’s stewardship as chairman of the Senate Banking Committee.

Maybe this AIG crap will hellp to clean out some of the idiots on both sides, Dem or Rep!

THat would be nice but then we would only have about 3 people there... hahahahahaa

White rich man, Black rich man, Asian rich man and the list goes on!!

Also I would like to add everyone says " go to the polls and vote" "tell everyone what you think when you vote" I am sorry here guys but I don't think my vote does any good anymore

First off is who counts the votes? You never hear about who counts the votes ? Are the folks who count the votes pillars of the community? Can they be bribed like all of our politicians?

Basically what I am trying to say here is looks like business as usual and not much change up on the hill. Sorry EH if this is a little off topic but until America has some real changes things will never get better for the common man. I honestly cannot believe how many crooks we have in this world. And it appears they all are working for the government I have always suspected it but now looks like my suspicions are true

I hear ya, Relax. I vote in every election (sometimes even 2 or 3 times ) and wonder if it does any good. But I absolutely refuse to not exercise my right to vote.

Side note....never, ever, ever apologize to E! That is a nono on this forum!

LOL @ Relex for worrying about going off topic.. RE3 is correct.


Also... Jsut saw this in the news and I think it is a great idea except the word billion should be changed to million in terms of how much govt bail out is required to have the tax.

House to vote on 90 percent tax for AIG bonuses
http://news.yahoo.com/s/ap/20090319/ap_ ... ig_outrage


also I think a 95% tax would be even better.

I have not confirmed it but someone just told me a lot of those that got bonuses are not US citizens.

E_HILLMAN wrote:I have not confirmed it but someone just told me a lot of those that got bonuses are not US citizens.

Hey.....I'm not a US Citizen! I am a card carrying Resident which is the same in every way except I can't vote and can't be called for Jury Duty! I don't mind the latter but I have to do something about the former!

Relax
To your post......your vote ALWAYS counts, it just may not always go your way. Don't ever stop voting, believe me I wish I could and I am working on that.

E_HILLMAN wrote:I have not confirmed it but someone just told me a lot of those that got bonuses are not US citizens.

Now I don't know how to feel... If this is true, does this mean they do not pay taxes on our money???? Woudn't that be a slap in the face?

Osama! NO! However, until we get ALL those 'deadbeats' out of congress, things will NEVER change!

Do you realise over the years, congress has passed laws that just PROTECT themselves. He!!, they even vote in their own pay increase. The he!! with the rest of us! We need to get control of our government once again. They have lost the concept of who they are and who they represent! d@mn this pi$$es me off!