A.I.G. Used Bailout Money To Pay $165 mil in Bonuses to Same Execs That Caused The Bailout Process..

Discussion in 'General' started by Ja's 2¢, Mar 16, 2009.

  1. Ja's 2¢

    Ja's 2¢ formerly vcshoxj6

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    [​IMG] Getting a bonus because you almost brought down the company the year before: Priceless.

     
  2. gg0tti

    gg0tti

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    These people are unbelievable. I hope the government puts a stop to this if its the bailout money that was given to them.
     
  3. vancity74

    vancity74

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    The AIG bailout is one of the most corrupt doings in United States history. End of story.
     
  4. 430AM

    430AM

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    @!+# AIG
     
  5. inspektahdeck

    inspektahdeck

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    [​IMG]
     
  6. withapassion

    withapassion

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    I hope the stimulus doesn't follow the same path. Is there anything that can stop it? I do not know
     
  7. nako xl

    nako xl

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    [​IMG] they were gonna get their bonus money no matter what. it's all contractual. the government knew this was going to happen when they made the deal. youcan disagree with it, but theyre legally entitled to that money.
     
  8. frankie valentino

    frankie valentino

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    Fede, Rexanglorum come in and defend this.
     
  9. davidisgodly

    davidisgodly

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    The real workers are the undergraduate slaves
     
  10. kicks off

    kicks off

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    [​IMG]
     
  11. rexanglorum

    rexanglorum

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    I really cannot defend this because I was against AIG getting the bailout money from the start. Those who supported the bailouts should efend what ishappening.

    If you want me to simply play devil's advocate here I would defend them on two grounds. Legally, they do not have to curtail the compensation becausecontracts still holds weight in our society. It may be possible that some of the executives at AIG are very competent and retaining them at the cost ofmillions could make or save AIG billions (and ostensibly get the money back to tax payers as soon as possible).

    Ultimately, the people who supported the bailout, the people who were so easily tricked by Hank Paulson and his feigned anxiety, the people who thought thatKeith Olbermann is a good source of economic information, those "realists" who supported the bill are at fault.
     
  12. jordanhead2

    jordanhead2

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    isn't this the same company that went on vacation after the bailout was approved [​IMG]
     
  13. k2theablam

    k2theablam

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    Paging enPHAN
     
  14. sorkoram

    sorkoram

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  15. wallyhopp

    wallyhopp

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    there are contracts for bonuses?? YOU DO GOOD, you get thrown a bonus. you do bad... nothing. if its a annual thing, why isnt it just a part ofyour salary. I dont understand here.

    unless the company was doing good a year ago, had bonuses lined up, and then the collapse magically happened and they still wanted their money. obviously theydidnt deserve any bonsues.. i think they're working with some loopholes
     
  16. eight2one

    eight2one

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    its pimpin, pimpin!
     
  17. barack 0drama

    barack 0drama

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    [​IMG][​IMG][​IMG]

    Damn, Can a _ get a couple mill for not doing anything? [​IMG]
     
  18. angryostrich

    angryostrich

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    Man...even the mafia knows how to keep more low key then these guys.
     
  19. much respected

    much respected

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    They don't have to keep low key if they can't be touched.
     
  20. rexanglorum

    rexanglorum

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    I just wish that when it comes to other government transfers of wealth from tax payers to those who are not needy, the media would be as vigilant and thepublic as indignant. I hope that Tim Gethner will also have "difficult discussions" with the CEO's of firms that will be fattening their bonuseswith stimulus money, will he do so with CEO's of major agricultural concerns, CEO's of companies that were already at the trough of subsidies.

    To a lesser degree, Social security transfers wealth from the poor to the wealthier (plus it is Ponzi Scheme that dwarf's Bernie Madoff crocked fund),State Universities that charge very little for tuition are usually transferring wealth from the working class to the middle and upper middle class. Where isthe outrage over this. In big cities, the revenue is drawn fairly evenly from the population in sales tax and it ends up being spent on things that matter muchso to the wealthier citizens.

    The amount of tax dollars that in transferred from all tax payers to those, who need the money the least, is staggering. I hope that this crackdown might havea chain reaction and call into question other poor to rich transfers of tax dollars.
     
  21. 03silverbullet

    03silverbullet

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    -Edward M. Liddy, the government-appointed chairman of A.I.G., argued that some bonuses were needed to keep the most skilled executives.-

    [​IMG][​IMG][​IMG]this dude's a joke if i ever seen one. who's quitting their job to go to a more lucrative job right now?
     
  22. brettthejett

    brettthejett

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    that's business.
     
  23. mixednuts

    mixednuts

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    not surprising..
     
  24. cucumbercool

    cucumbercool

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    And nothing will happen to them.
     
  25. jdb1523

    jdb1523

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    Blame Barack and the Democrats for signing checks to AIG blindly. The mismanagement of the financial crisis has been sickening.