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HelicopterOff Topics News & Politics › AIG paying millions in bonuses despite bailout
03-17-2009 05:08 PM  8 years agoPost 41
SSN Pru

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Taxachusetts

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An interesting article on AIG...

http://www.time.com/time/business/a...00.html?cnn=yes

Stupidity can be cured. Ignorance is for life!

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03-17-2009 05:14 PM  8 years agoPost 42
Dennis (RIP)

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Oregon

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Yeah, now its said that Chris Dodd knew about all these contractual bonuses to be paid out and put into the stimulus bill a law that says that all AIG execs will be allowed to receive ALL bonuses agreed on. And, Obama signed the bill.

This is not AIG's fault. Its all on the politicians.

Liberty once lost, is lost forever.

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03-17-2009 05:59 PM  8 years agoPost 43
Stet

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Key Largo FL

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Another grand distraction, with the facts going out the window. Instead of addressing it calmly, the pols jump on the ignorance bandwagon and fan the flames instead of simply explaining the mechanisms in play.

I suppose we'd be better off if all the folks quit AIG and let the government take over their roles?

keepin' it real

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03-17-2009 06:04 PM  8 years agoPost 44
Dennis (RIP)

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Not only did Chris Dodd know about and placed into the stimulus bill and law allowing execs at AIG to collect their bonuses through the stimulus bill, Tim Guether had prior knowledge of these bonuses as well and allowed AIG to go ahead with them because of contractual agreements.

This whole AIG bonus issue is all smoke and mirrors to distract from the real issues of administration incompetence.

Liberty once lost, is lost forever.

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03-17-2009 07:25 PM  8 years agoPost 45
Havoc

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pols jump on the ignorance bandwagon and fan the flames instead of simply explaining the mechanisms in play
This is a very amateurish mistake by Obama. His administration felt embarrassed by this because they are talking about a second stimulus and other gargantuan bailout/spending plans. They saw this story as undermining their ability to pull this off as it was already unpopular enough. Their knee jerk reaction was to try to get back on the populist side of the story. In doing so, they have now blown this up into an incredible mess. Of course the problem is that a bailout doesn't break contractual obligations. Bankruptcy does that.

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03-17-2009 07:38 PM  8 years agoPost 46
Dennis (RIP)

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Oregon

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Of course the problem is that a bailout doesn't break contractual obligations. Bankruptcy does that.
You can bet. They will find a way.

They have their foots stuck in their mouths now. They have to get that foot unstuck.

Liberty once lost, is lost forever.

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03-17-2009 11:00 PM  8 years agoPost 47
Stet

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Key Largo FL

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Nope, Shummer says they will tax the bonuses at 100%.

It is amazing our country still exists.

keepin' it real

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03-17-2009 11:11 PM  8 years agoPost 48
Dennis (RIP)

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Oregon

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Yeah, using the tax code as revenge against private citizens for any reason is very scary for what else they could use it for.

They are simply acting like complete fools in Washington trying hard to deflect attention away frm themselves.

Liberty once lost, is lost forever.

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03-17-2009 11:50 PM  8 years agoPost 49
baby uh1

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St. James, Mo.

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This is the true exposure of how the Dems think and work in DC. They are too stupid to talk without a teleprompter or a handler giving them their lines and why they get a call from the DNC with the day's buzz words.
It is just sad that our future is in the hands of these idiots!

Anything is possible if you don't know what you are talking about!

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03-18-2009 12:01 AM  8 years agoPost 50
Dennis (RIP)

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Oregon

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I am one that supports those AIG execs getting their bonuses. These were contracts ageed to and signed way last year that Turbo Tax Tim had knowledge of. In addition to that, Sen Chris Dodd had written into the gigantic stimulus bill an exemtion for bank executives to receive their bonuses.

According to the constitution, congress cannot nule and void a contract. Neither can they use our tax code for revenge against anyone and tax those bonuses away from those execs.

They have a lot of exlaining to do in Wasington when these guys that are getting these bonuses are getting death threats as a direct result of Washingtons attitudes. One congressman even said those execs should resign I'd die.

Complete BS from our so called leaders.

Liberty once lost, is lost forever.

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03-18-2009 01:56 AM  8 years agoPost 51
minan

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Janesville Wi. USA

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The contracts with the executives should have been null and void as soon as AIG accepted bailout money. They had the option not take any government funds and declare bankruptcy.

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03-18-2009 01:57 AM  8 years agoPost 52
philip 01

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ft worth

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The contracts with the executives should have been null and void as soon as AIG accepted bailout money.
it doesn't work that way.

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03-18-2009 02:01 AM  8 years agoPost 53
Stet

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Key Largo FL

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Typical great government working for you.

Instead of reforming securities laws (like the uptick rule or mark-to-market), they mess with unconstitutional retroactive seizure, targeting a citizen's legitimately acquired assets.

All for (grandstanding) reasons.

How disgusting is that? What % of the population understands, much less cares?

They had a lot of options, they chose a legal option. The dems are digging themselves into a hole on this one, I don't believe they can take the money.

keepin' it real

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03-18-2009 02:15 AM  8 years agoPost 54
Dennis (RIP)

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Instead of reforming securities laws (like the uptick rule or mark-to-market), they mess with unconstitutional retroactive seizure, targeting a citizen's legitimately acquired assets.
Exactly.
They had a lot of options, they chose a legal option. The dems are digging themselves into a hole on this one, I don't believe they can take the money.
Agreed. I believe they are protected by the constitution. Both, with the nulling and voiding a contractual agreement that they had prior knowledge of, and singling out a private citizen for revenge through the IRS.

They will not get away with this. They are simply ranting and raving like fools until this whole thing calms down. It may not because it exemplifies Washington incompetence with this bail out crapola. Impotant segments of the News media IS going to focus on this.

Liberty once lost, is lost forever.

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03-18-2009 03:55 AM  8 years agoPost 55
baby uh1

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St. James, Mo.

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If they keep praticing Clintonomics with out slick Willie's ability to lie and hide things they are going to go down hard.
They better keep Hilliary close before they wonder too far into the political woods with out their spin guide.

Anything is possible if you don't know what you are talking about!

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03-18-2009 06:53 AM  8 years agoPost 56
11290

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Evansville, IN and​Orlando, FL

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Yeah, using the tax code as revenge against private citizens for any reason is very scary for what else they could use it for.
Whether the bonuses are deserved or not is irrelevant (I concede they probably aren't for most AIG managers). But the US Constitution does not allow the Congress to set a Bill of Attainder to just take 100% of their money because Obama/Congress are mad today [they knew about it 2 months ago and didn't care one iota].

It also is an attempt at "ex-post" retroactive legislation, changing the tax rates after the income is "earned" (yes I put quote marks around earned). Another no-no under our Constitution.

For all Obama's supposed concern about Constitutional protections for a terrorist at Gitmo who may or may not have been waterboarded, Obama sure doesn't seem very concerned about applying the Consitution to law abiding citizens who work at AIG- regardless of their business acumen.

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03-18-2009 06:54 PM  8 years agoPost 57
CWALDO123

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Germantown , Tn -​Shelby

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I have a question??? Why should the employees the little guys on the bottom of the pole have to return there bonus ?? You tell me that if YOU as an employee, lets say you work for Microsoft and for that year with the company you as an employee met all your goals and done your job and were promised a bonus based on your performance and did it and now all of a sudden it's the employees fault. They did there job but the company failed as a whole. So in my opinion the company and top level management should be penalized. And if the CEO's new this then they should pay there bonus back not the little guys that did there jobs.

Hirobo Evo 50 ,Jr9303 ((( Are Those Things Hard To Fly ?? Nah !! Snicker )))

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03-19-2009 12:25 AM  8 years agoPost 58
baby uh1

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St. James, Mo.

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The outrage over this might make some sense if Obama and the Porkocrats didn't know about it before the Porkulous bill was passed, without one single Replubican vote by the way. This was part of the reason the Republicans didn't vote for it. My guess is that they acually read it first.

This may be the stupidest congress in history!

Anything is possible if you don't know what you are talking about!

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03-19-2009 12:33 AM  8 years agoPost 59
Dennis (RIP)

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Oregon

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I have a question??? Why should the employees the little guys on the bottom of the pole have to return there bonus ??
They shouldn't and they won't. There are guarantees in our Constitution to prevent Congress from changing a contract or single out one citizen to get revenge through the tax code. These dip sh*t Congressman and Congresswomen don't even know the Constitution they are supposed to be serving.

Members of Congress are simply acting like little cowards trying the best they can to blame someone else.

Disgraceful and Shameful.

Liberty once lost, is lost forever.

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03-20-2009 03:59 AM  8 years agoPost 60
mchammer

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California,USA

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^^^^+1

Peace Through Superior Firepower!!!

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