[ms] · Est. May 2002
One durable person. One social graph. Many communities—and every way people speak, share, listen, write, gather and remember.
[url]http://www.cnn.com/2009/POLITICS/03/16/AIG.bonuses/index.html[/url]
[url]http://news.bbc.co.uk/2/hi/business/7945774.stm[/url]
makes my blood boil
what is the legal position? presumably if the contract to receive the billions didn't stipulate - cant be used for bonuses - then they don't have any recourse whatsoever?
Re: The AIG bonuses
Quite outrageous considering they've received multiple bail-outs. Whether bonuses are deserved for some employees is irrelevant considering it looks bad to the public. Glad to see Obama on the offensive and holding them accountable.
Re: The AIG bonuses
It really is obnoxious, and even if they are legally within their rights to dole out these "bonuses," it's hard to understand who in their right mind thought this would be a good idea.
One frequent justification I hear is that these bonuses are not really "bonuses" as we normally think of that term being used -- that they are a significant, and expected part of executive compensation. If, in fact, that's the case, they ought to consider changing the pay structure until the company gets backs on its feet, because this is a PR nightmare.
The other thing, though, is that if you're getting a multi-million dollar bonus this year, it probably isn't the first time you've received a bonus like that, and you're probably doing pretty well and aren't living paycheck to paycheck, to put it mildly. Maybe you defer that compensation until a time when your company isn't relying upon the American taxpayer to save your ass. Just a thought.
Re: The AIG bonuses
fuct...
actually read this before getting out of bed this morning on from my blackberry...damn you google alerts :evil:
Re: The AIG bonuses
Should of let the bastards go bankrupt in my opinion.
Re: The AIG bonuses
well if they cant take those bonuses away, they should put those executives on the spotlight and ask them to turn the bonuses down, maybe theyll have a bit of shame on them.
Re: The AIG bonuses
[quote=ddr;722972]Should of let the bastards go bankrupt in my opinion.[/quote]
amen to that!
Re: The AIG bonuses
did you hear about the exec in the uk who recently had his £8m pension approved - by the government - he was one of the top dogs at Royal Bank of Scotland which had to be bailed out more than most to the point where it is virtually state owned. fookin unreal....
[URL]http://www.independent.co.uk/news/uk/politics/minister-agreed-pound8m-pension-bonus-ndash-and-im-keeping-it-1633387.html[/URL]
Re: The AIG bonuses
[quote=ddr;722972]Should of let the bastards go bankrupt in my opinion.[/quote]
some reports actually have come out that they are indeed too big to fail...not so much for what they are worth, but for what they have written on insurance-wise and the like...it may be in the "unfathomable" range.
I'm willing to bet that they are holding that as collateral so they can just keep getting money whenever they feel like it...
Re: The AIG bonuses
There is a valid question to be asked of us and the politicians that are now expressing outrage over this -- to paraphrase a commentator that I think is spot on much of the time, [URL="http://www.huffingtonpost.com/cenk-uygur/fake-outrage-by-politicia_b_175315.html"]what were we expecting[/URL]?
These bailouts were set up with minimal oversight, and with limits on executive compensation removed. We basically put our trust in the very people whose greed, self-interest and short-sightedness got us into this mess, and relied upon them to not be greedy or self-interested. Surprise, surprise, they had an opportunity to take more of our money without consequences, and they took it. Why exactly are we shocked by this?
I heard another question asked by a CNN viewer this morning, and I think it is a valid one. If, in fact, these are bonuses that "must be paid" as the apologists maintain, how would AIG have paid them in the absence of a government bailout?
Re: The AIG bonuses
I have said it a thousand times on here that your country is being robbed. Plain and simple. No indictments No Justice for this economic meltdown.
Nevermind what is going on over at Citi. Citi's CEO is getting $11 mil in bonuses.
Re: The AIG bonuses
most of it is to pay off the CDS bets as well...not so much the actual ones written, but all of the speculative ones too that had no merit to begin with..
[url]http://www.portfolio.com/views/blogs/market-movers/2008/12/10/aigs-speculative-cds-bets[/url]
Re: The AIG bonuses
I had wondered how this money was spread out, and now we have a somewhat better idea -- 73 people got in excess of $1M. Credit where credit is due, these guys have some ginormous balls.
[url]http://tiny.cc/ElCMZ[/url]
Re: The AIG bonuses
Our new president puts it pretty well:
[YOUTUBE]http://www.youtube.com/watch?v=yDGN0Hk301Y[/YOUTUBE]
After viewing this I couldn't help but imagine what Bush's reaction would have been if this would have happened on his watch...:lol:I can hear his bullsh*t now...
Re: The AIG bonuses
I would like to see two things happen, that would be invaluable in getting this money back, because legally, I'm not sure that there are a lot of options:
Right now, there is ZERO pressure on these folks to do anything other than sitting back and comforting themselves with massive piles of cash. For people that already have enough money to live very comfortably, an extra million or two probably isn't worth becoming an absolute social pariah.
That would be my completely naive hope, anyway. Probably unrealistic to think it would make a difference.
Re: The AIG bonuses
they're not gonna get to keep the bonuses. congress is gonna tax them back if they don't surrender them on their own...
[URL]http://www.calgaryherald.com/Congress+vows+back+bonuses/1399186/story.html[/URL]
congress actually did something...wow.
Re: The AIG bonuses
Ummm, no they didn't. Lookee what I found:
[URL]http://porkulus.butasforme.com/?p=110#bonus[/URL]
It's actually IN the TARP plan (that "no one read" and was "rushed through") that any company getting TARP money is prohibited to get extra money, but, BUT "the prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary."
Oh, ok. Only the newest employees and executives can't get bonuses now. Whew.
Re: The AIG bonuses
^ | huh? congress says they will tax the individuals who received the bonuses for the full extent of the amount they received. as in a tax levied on those specific people for 100% of the bonus. what does that have to do with TARP?
Re: The AIG bonuses
Congress talks tough because it's politically safe to do so, but I'll be surprised if they actually have the guts to go through with it.
Re: The AIG bonuses
why wouldn't they? it'd make whoever spearheaded it look like a champion of the common man. it'd be the easiest re-election they ever won...
Re: The AIG bonuses
I wonder how many of the politicians took money from AIG in the past??
Also will Obama ever talk without a teleprompter?? At least Bush shot from the hip.
Re: The AIG bonuses
[quote=day_for_night;723579]^ | huh? congress says they will tax the individuals who received the bonuses for the full extent of the amount they received. as in a tax levied on those specific people for 100% of the bonus. what does that have to do with TARP?[/quote]
Double-speak...nothing new, but it was passed in that bill that bonuses were essentially allowed to any company that got TARP/bailout money. They can attempt to tax all they want anyway; I'm sure many won't need to pay back much if their tax structures are solid.
Makes me wonder if this hullabaloo is to cover-up something else either currently going on or about to i.e. funnel some more money elsewhere...
Re: The AIG bonuses
We finally learned it was the Treasury department under Geithner according to Sen. Dodd that allowed the AIG employees to get their bonuses. That was really tough information to get out of Treasury and the White House yesterday. No one came forward for awhile to admit they had approved the bonuses.
Geithner should face criticism and ultimately so should Obama who he works for. They weren't exactly forthcoming with all the information either. And neither was Dodd. I assume they hoped this would go away, but the public and media were too upset by this.
Re: The AIG bonuses
[quote=runningman;723777]At least Bush shot from the hip.[/quote] Yes, and look how great that worked out for us all. :roll:
Re: The AIG bonuses
[QUOTE=runningman;723777] Also will Obama ever talk without a teleprompter?? At least Bush shot from the hip.[/QUOTE]
:lol:Come on running are you really going to make a comparison between Bush and Obama's speaking ability? lmfao, everyone is infallible, especially given the amount of sleep these guys get. Politicians don't write most of their speeches or briefings or press conference statements.
Re: The AIG bonuses
I can't even bear myself to look at this thread...these bonuses are such Bullshit!
Re: The AIG bonuses
[quote=runningman;723777]I wonder how many of the politicians took money from AIG in the past??
Also will Obama ever talk without a teleprompter?? [B]At least Bush shot from the hip[/B].[/quote]
because that's close to where his fuckin brains were.. how many stupid things shot from his mouth... talking about OB/GYN's not being able to practice their love on women? lol
yeah, teleprompters are a bad idea..
Obama needs one, he's so pissed off, he probably would just let loose and tell these greedy ignorant fuckers where to go if he didnt have a teleprompter
Re: The AIG bonuses
ya right he doesn't know how to speak without one. I haven't seen one speech without a tele.. I think that is pretty sad coming from a guy that went to Harvard. Not very impressive IMO. Anybody can read from a tele.
Re: The AIG bonuses
[quote=runningman;724248]ya right he doesn't know how to speak without one. I haven't seen one speech without a tele.. I think that is pretty sad coming from a guy that went to Harvard. Not very impressive IMO. Anybody can read from a tele.[/quote]
I've seen him in person multiple times, most of the time without a teleprompter. He uses the TP for really big speeches.
Re: The AIG bonuses
[quote=runningman;724248]ya right he doesn't know how to speak without one. I haven't seen one speech without a tele.. I think that is pretty sad coming from a guy that went to Harvard. Not very impressive [B][SIZE=6]IMO[/SIZE][/B]. Anybody can read from a tele.[/quote]
lol.. the more you post the more irrelevant those three letters really are.. sorry, but my god you come out with some CRAP :roll:
Re: The AIG bonuses
[quote=runningman;724248]ya right he doesn't know how to speak without one. I haven't seen one speech without a tele.. I think that is pretty sad coming from a guy that went to Harvard. Not very impressive IMO. Anybody can read from a tele.[/quote]
ROFL.
It is posts like these that make me laugh so damn hard because you are such an ignorant person.
Too funny.
Obviously, you have never seen youtube videos of him speaking in gymnasiums or library's because those he does not use a teleprompter. Like someone said earlier, he only uses those at really big speeches.
Also, what is the difference between having the speech on a piece of paper or on a teleprompter? It is the same thing. Bush had speechwriters, Obama has speechwriters, what is the difference? Just because Obama can read what is in front of him without talking like a 9 year old, you slam him? Are you serious?
Why is this even being brought up? You really are grasping for straws aren't you?
Re: The AIG bonuses
^^hehe this thread is too funny...its like a slam running man thread part 18
Re: The AIG bonuses
the golden rule is don't say anything bad about Obama or the Obama Lovers will appear. Bashing me because I think it is stupid that he uses a teleprompter for every speech.
Re: The AIG bonuses
guys runningman is a troll...honeslty. ignore his comments.
and it looks like they're going forward with the tax. [URL]http://edition.cnn.com/2009/POLITICS/03/19/bonus.bill/index.html[/URL]
Re: The AIG bonuses
[quote=Shpira;724377]^^hehe this thread is too funny...its like a slam running man thread part 18[/quote] I'd like the record to state that I am innocent and took no part in this one. :lol:
Re: The AIG bonuses
^blatant encouragement, booooooooo!
day for night is right miro, lol
Re: The AIG bonuses
[YOUTUBE]http://www.youtube.com/watch?v=7dPA3b08yfE[/YOUTUBE]
Re: The AIG bonuses
[quote=runningman;723777]I wonder how many of the politicians took money from AIG in the past??
Also will Obama ever talk without a teleprompter?? At least Bush shot from the hip.[/quote]
lol. the decider was very good at public speaking, reading upside down and the internets.
Re: The AIG bonuses
you guys (the Obama vipers) should have your own theme music when you come in to bash me..
Re: The AIG bonuses
you reap what you sow.