Does AIG Deserve Your Business?

“This is what happens when greed anticipates the blind cooperation of those who fill their pockets with premium dollars - YOU!

Get Your Bonus Here, Fellas”

“'Retention'? � How's about being handcuffed to the plumbing so they can't flee the country?

Here's a bonus.... 15 years worth of bread & water.”

“AIG, not unlike most 'BIGS' are run like governments not like business. Of course, they can't be blamed , because we have allowed them to run government, thus, they are the government. Senate pay raise anyone?”

“AIG has none of my business and I think the corporate greed and mega-bonuses stuff was out of control BUTT the bonuses are in the contract and are relatively small cmpared to mega bonuses that have been handed out before. The coverage of these bonuses definitely sheds more heat than light.”

“Funny, I haven't bought gas from Exxon in almost 20 years, either.

note: � the Exxon Valdez was renamed the River Mediterranean and is presently known as simply the Mediterranean). � It's like a malpracticing doctor changing his name as he moves from state to state.


Yes, isn't it cute how Congress voted themselves automatic "cost of living" increases a few years ago to spare themselves the Embarrassment of raising their own pay in broad daylight.”

“From Obi Wan's link, it says,

"The large bulk of the payments at issue cover AIG Financial Products, the unit of the company that sold credit default swaps, the risky contracts that caused massive losses for the insurer."”

“What does insurance and MLBaseball have in common that might temper the treatment the two get from Dah Gov?”

“The next part of the economy to be troubled by the banking collapse and low commodity prices will be food production.”

“I'm growing about three gardens this year and shooting every deer I see.”

“I'm gona steal from every garden and freezer this year.”

“You should change your name to Jack, Nimble.”

“Screw the free market! this has to stop, no "thing" should be alloed to get too big to fail...ever again.”

“I personally loved that institutional concrete look of the 19802 era Soviet design. Very industrial sheik! Can't wait for it to come here.

My advice to all, vote with your feet and shut the phuck up beyond that.”

“LMFAO!”

“�Screw the free market! this has to stop, no "thing" should be alloed to get too big to fail...ever again.�
Stratd00d
9:04:28 PM
3/15/09

WTH? Has all this caused stratdewd to call for more regulation?

At least he now sees the light.”

“I'm generally all about free markets and the non interference of government in business but if you're gonna accept the welfare you should have to play by the fed's rules.

They screwed themselves.”

“Correction: They screwed us.”

“To my mind: We danced with the devil over the last 30-40 years.

Let's plunge ourselves into the roar of time, the whirl of accident; may pain and pleasure, success and failure, shift as they will – it's only action that can make a man.

~ Goethe's "Faust"

Irrational exuberance.

~ Alan Greenspan, chairman of the Federal Reserve, speech at the American Enterprise Institute regarding the escalation of financial markets, Dec. 5, 1996

from: http://www.worldnetdaily.com/index.php?pageId=76725

Added to the banking-finance break down consider your world in light of a decreasing availability of cheap energy (and oil).”

“I'm surprised this thread hasn't received more post. The bill was written, passed and owned by democrats. So why is there so much squealing? Oh yeah, because no one even took time to read it. More of scandals like this to come for at least the next 2 years.

So if the white house is so adamant that employees are required to "voluntarily" pay back or be taxed at 92% of their bonuses, should Obama have to pay back his 100K+ political contribution given from AIG?”

“it's a storm in a teacup really. The money will be blocked and they won't get it and we'll move onto the next panic.

We should really be questioning the logic at work which put in place the system on which these bonuses are structured.

there needs to be a fundamental shift in the value we put on things.”

“Face it, the reality is that this or any other government can try to fight the incredible amount of complex crime in this country and accross the world, but will be eaten into extinction by battling it. No major attacks since 9/11.”

“So who screwed the pooch? Turns out it was none other than Senate Banking Committee Chairman Chris Dodd (D-Conn.).

Senate Banking Committee Chairman Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG: 0.95, 0.1699, 21.78%) bonus recipients so the government could recoup some or all of the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.

While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. The provision, now called “the Dodd Amendment” by the Obama Administration 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.

Dodd’s original amendment did not include that exemption, and the Connecticut Senator denied inserting the provision.

“I can't point a finger at someone who was responsible for putting those dates in,” Dodd told FOX. “I can tell you this much, when my language left the senate, it did not include it. When it came back, it did.”

“Because of negotiations with the Treasury Department and the bill Conferees, several modifications were made,” Dodd Spokesperson Kate Szostak in a response to FOX Business.

The provision excluding those bonus payments made it into the final version of the bill, and is law.

Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org. Also, one of AIG Financial Products’ largest offices is based in Connecticut.

“Senator Dodd was completely unaware of these AIG bonuses until he learned of them in the past few days,” wrote Szostak. To suggest that the bonuses affecting AIG had any effect on Senator Dodd’s action is categorically false.”

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

“We should really be questioning the logic at work which put in place the system on which these bonuses are structured.

Ugh why, because you believe it to be unfair?

Until the bailout utilized mine and your money how they decided to structure their business was none of our business. In fact, historically some of the most cutting edge and successful companies have chosen unorthodox financial and personnel structures. Also, if I don't like the way they run their company I don't do business with that company.

I don�t have a clue when it comes to all the circumstances surrounding AIG bonuses, maybe it was a bad business decision. However, the issue is not AIG. We do know these bonuses were promised in 2008 and the Tax Cheat Geithner knew all about it. Remember they would have gone bankrupt if the gov�t didn�t try to rescue them. We know they don�t manage their finances well. But for some reason the gov�t thought they would manage our money better? Complete incompetence!”

“shouldn't have been bailing any of these toxic businesses out.. aig, city, boa, the big 2/3 etc.. none of them.. if they ran their businesses into the ground, so be it. i sure ain't getting a bailout.. eff them all..”

“AIG gave Sen Todd 103K in contributions!”

“Senate Banking Committee Chairman Chris Dodd (D-Conn.

Has t*ltypoo and the rest of the lefties said anything bad about Dodd?

LOLOLOLOLOLOL”

“Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org.”

“We should really be questioning the logic at work which put in place the system on which these bonuses are structured.

there needs to be a fundamental shift in the value we put on things.�
Y2
7:39:08 PM
3/17/09


Speaking of questioning logic, where is the logic in throwing OUR money at a company "too big to fail" (or any other government pet project) without knowing where it's going?

You have to seriously question the logic of anyone advocating MORE control and oversight from a body that has none in the first place.”

“The AIG bonuses are a carefully crafted red herring. They gave out 168 million dollars from a 171 Billion dollar bailout. That is slightly more than ten percent. While we are chasing our tails screaming and yelling about 10% of the money already given the other 90% is entirely beyond accounting. It's a sweet deal if you ask me. Let the public get mad over 10% and leave AIG alone to do whatever it wants with the rest of the money. I'll take that deal anyday.”

“I have no fantasies about this being the only misuse of the funds stolen from taxpayers. And really its not even misuse since the bill actually provides for these bonuses to be given if negotiated before february. I might not have a problem with that provision if the date used was before AIG received the first taxpayer dollars.”

“How many of our billionaires have made their money off the taxpayer or IRS laws?”

“RamblinRev, I think the American people (and I don't speak for all) are mad about the bailouts but apoplectic about the bonuses to the very execs that drove that company into the ground.

There was something in the stimulus package that did not allow bonuses to be paid that was taken out at the last minute in a back room deal. So congress get off your high horse and stop pointing the finger at someone else when you are to blame too!”

“Lobbyist Legislation pure and simple.”

“I think you have a decimal error in there somewhere.. The bonuses make up less then one tenth of a percent of the total bail out package... Its still a hard pill to swallow, but contractually they probably had to happen... My only gripe is that they didn't come with a pink slip..

'32oz”

“32oz... I thought 10% was too high... It just demonstrates the red herring even more. I'm not enodrsing the payouts, but they probably were legit if indeed they _were_ deferred income (read commission). But I think we are being led on a merry chase by all concerned being outraged over 0.1% of the total payout to this company alone, and requiring no transperancy or accounting for the other 99%.
Yes congress is in on that scam too. It really is a sweet deal. Throw the American taxpayer a dry gnawed bone and keep the luscious cuts in the freezer where no one can find them.
last edited: 3/18/09 9:28:29 AM”

““shouldn't have been bailing any of these toxic businesses out.. aig, city, boa, the big 2/3 etc.. none of them.. if they ran their businesses into the ground, so be it. i sure ain't getting a bailout.. eff them all..”
offtrack
9:40:14 PM
3/17/09

How dare you question the #&%!$ up and move up corporate model.”

“Freddie Mac is joining in on the 'Bone-us Executives'show. Way to Go. hoho”

“Hey if AIG is good enough to bribe PrezBO then its good enough for me...(LOL) Has anyone hit on the biggest ponzi scheme out there.....? Social Security...”

“Seeing that senior citizens have the highest voter turn out, no politician in there right mind would #&%!$ with Social Security.”

“Privatize SS now at a 65% discount. Wait.....”

“If they ditch Social Security the market for shipping containers and large boxes, for use as dwellings, could be go-go.

Whudda ya think, SB?”

“One person tents for three. hehe.................I dough know, I'm justa left wing conservative without/drugs for Ronny.”

“Shanty towns........thang of the future.”

“I own 3 tents and a tarp. I'm a shanty town millionaire.”

“Here's a PBS Frontline story a tax attorney client sent me...this is about an hour long video, and very, very interesting.

http://www.pbs.org/wgbh/pages/frontline/meltdown/view/”

“I was in one in 1966 at Yosemite Creek drive in VWBUS+ camp.”

“Ramblinrev, so it's okay to steal $1.00 but not $100?”

“Tango...steal? UM they were lent the money in the typical Government RUSH to "Do Something" (hell everytwit up there was for it). Now the bonuses were a result of contracts from the previous year. IF AIG had defaulted on the contracts they would, I believe, have been liable for double damages.

Here is the scary thing....if the government is able to do this...why can't they step into the Big 3 and cancel contracts with the UNIONS?”

“XL

First that was an example.

Second what about all the workers who have contracts and are made to take days off without pay? What about renegotiation? What about their breach of contract with performance so bad that it took the company under (w/out a bailout)? What about saying to the employees "Sue me" and find out if any court in the land will hold up those contracts???”

“"IF AIG had defaulted on the contracts they would, I believe, have been liable for double damages."

Uh............that's not AIG's money.
Those bonus "earners" gonna sue the U.S.?”