BS: $100 million bonuses to AIG execs

Subject: RE: BS: $100 million bonuses to AIG execs
From: Don Firth
Date: 19 Mar 09 - 02:00 PM

Maybe I'm a little harsh here, but it strikes me that the idea that a company is "too big to be allowed to fail" merely encourages the executives of that company to go right ahead be idiots. If they were on their own, and as a result of their stupid decisions, they suddenly found themselves standing out in an open field in nothing but their jockey shorts, it might encourage other company executives to try to get their act together.

Don't give the "bailouts" to the companies, give them to the people left unemployed or otherwise left holding the bag when the company goes belly-up from crookery and bad management.

. . . simplistic, I know, but. . . .

Don Firth

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 19 Mar 09 - 12:18 PM

(Dodd, for example, will have a hard time reconciling his two versions. He can't persuasively merge that he forgot he was responsible with his new version that he was pressured into doing something he did not want to do.)

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 19 Mar 09 - 12:09 PM

There ~may~ be, however, a further lesson in public corruption yet to come, depending on how this shakes out.

Subject: RE: BS: $100 million bonuses to AIG execs
From: Bill D
Date: 19 Mar 09 - 12:01 PM

What the lesson is in all this is that: It takes a LOT of clever planning, anticipation and work to outwit those who are trying to manipulate the system & the rules for their own benefit!

Short form: The crooks work harder than the regulators to find loopholes and divert the money flow.

It will take awhile to get THIS administration set up to monitor all the shenanigans which the former administration didn't bother with...or actually abetted.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 19 Mar 09 - 11:58 AM

(A distinction needs to be made as to the date the bonus was "negotiated" versus when the right vested, but I'm not sure how to apply that yet. The news reports it as "agreed on" - the stinkiest result.)

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 19 Mar 09 - 11:47 AM

In September, 2008, the Federal Reserve bailed out AIG with an $85 billion loan, effectively nationalizing 80 percent of the company. On Oct. 8, AIG received another $37.8 billion in loans,and quickly burned through most of it.

In the previous two financial quarters, the company had announced $13 billion in losses and $20 billion in write-downs, acknowleding a need for $20.3 billion worth of capital injections.

Anyone who "negotiated" a lucrative bonus after NO LATER THAN September, 2008 was not acting in good faith, and the legislation could easily have made the grandfather clause back to then or earlier, as opposed to February 11, 2009. They didn't need to fear prospective litigation from that any more than they will need to fear litigation on the punitive tax proposals.

There is a rotten stench emanating from that 2/11/09 date, regardless of the legislation's chronology.

A trial judge apparently ruled that Cuomo can learn and release the recipient names. We will eventually know when they negotiated the deals from this company we "control."

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 19 Mar 09 - 10:42 AM

Yeah but apparently they can legitimately create legislation specifically directed at someone in the form of a punitive tax, if they are careful.

It seems to me they could have pushed the grandfather clause back earlier, to when AIG (or others) applied for bailout funds, under the theory that negotiating such bonuses at that time or thereafter was of questionable good faith by the recipients.

Subject: RE: BS: $100 million bonuses to AIG execs
From: SINSULL
Date: 19 Mar 09 - 10:31 AM

A bill is being proposed to tax 90% of these bonuses. Aren't they taxable?

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 19 Mar 09 - 10:20 AM

So there's nothing much here (in Dodd's story) unless and until the 2/11/09 date is shown to have been a manipulated date, rather then a reasonable /standard cut off date in terms of the timing of the legislation? That will be interesting, though.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,beardedbruce
Date: 19 Mar 09 - 06:38 AM

Dodd: Administration pushed for language protecting bonuses

Story Highlights
NEW: Dodd tells CNN he put bonus provision in bill, despite earlier denials

Treasury Department official says administration pushed for the language

AIG under fire for doling out big bonuses after taking bailout money

Rep. Barney Frank says execs shouldn't get bonuses if they are "incompetent"

   
(CNN) -- Senate Banking committee Chairman Christopher Dodd told CNN Wednesday that he was responsible for language added to the federal stimulus bill to make sure that already-existing contracts for bonuses at companies receiving federal bailout money were honored.

Sen. Chris Dodd, D-Connecticut, appears on CNN's "The Situation Room" on Wednesday.

Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.

Both Dodd and the official, who asked not to be named, said it was because administration officials were afraid the government would face numerous lawsuits without the new language.

Dodd, a Democrat, told CNN's Dana Bash and Wolf Blitzer that Obama administration officials pushed for the language to an amendment designed to limit bonuses and "golden parachutes" at those companies.

"The administration had expressed reservations," Dodd said. "They asked for modifications. The alternative was losing the amendment entirely."

On Tuesday, Dodd denied to CNN that he had anything to do with adding the language, which has been used by officials at bailed-out insurance giant AIG to justify paying millions of dollars in bonuses to executives after receiving federal money.

He said Wednesday that the "grandfather clause" language "seemed like innocent modifications" at the time. "I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."

Dodd said he did not speak to high-ranking administration officials and the change came after his staff spoke with staffers from Treasury.

The White House did not immediately respond to CNN's request for comment.

At a town hall meeting in Costa Mesa, California, about an hour after Dodd spoke, President Barack Obama didn't directly address the language change -- but said he'll take responsibility for the bonuses being awarded.

"We didn't draft these contracts. We've got a lot on our plate. But it is appropriate when you're in charge to make sure stuff doesn't happen like this," he said. "So we're going to do everything that we can to fix it."

Dodd said later Wednesday in a written statement that his amendment allows the Treasury Department to review bonus contracts like AIG's and seek ways to get the money back for taxpayers.

AIG's derivatives branch is in Dodd's home state. Many of the bonuses in question were awarded to executives at that branch. But in the written statement, Dodd said he had no idea the legislation would impact the company.

"Let me be clear -- I was completely unaware of these AIG bonuses until I learned of them last week," he said.

Dodd also said in the statement that his comments on Tuesday and Wednesday to CNN did not conflict.

"I answered a question by CNN [Tuesday] night regarding whether or not [an exemption before] a specific date was aimed at protecting AIG," he said. "When I saw that my comments had been misconstrued, I felt it was important to set the record straight -- that this had nothing to do with AIG."

According to a transcript of the Tuesday interview, Dodd was asked about an executive-compensation provision "that exempts everything prior to February 11, 2009 -- any contracts prior to that date."

He said that language was not in the version of the bill that left the Senate and that he was not one of the negotiators who hammered out a compromise between the House and Senate versions of the plan.

"I can't point a finger at someone who offered a change at all," he said.

Asked whether he had later been able to figure out who added the language, he said, "I really don't know."

In Wednesday's interview, Dodd never said his Tuesday comments had been misunderstood.

"Going back and looking, I apologize," he said when questioned about his words from the day before.

On Capitol Hill Wednesday, AIG chief executive Edward Liddy called the roughly $165 million in bonuses "distasteful" but necessary because of legal obligations and competition.

"We have to continue managing our business as a business -- taking account of the cold realities of competition for customers, for revenues and for employees," Liddy told a House Financial Services subcommittee. "Because of this, and because of certain legal obligations, AIG has recently made a set of compensation payments, some of which I find distasteful."

Pennsylvania Rep. Paul Kanjorski, the hearing's chairman, responded to Liddy's statement by arguing that AIG should have refused to pay all the bonuses -- regardless of its contractual obligations with the bonus recipients.

"Let them sue us," said Kanjorski, a Democrat.


more
http://www.cnn.com/2009/POLITICS/03/18/aig.bonuses.congress/index.html

Subject: RE: BS: $100 million bonuses to AIG execs
From: Barry Finn
Date: 19 Mar 09 - 03:03 AM

Liddy's appearance was something like a blackmail threat ending in a death threat crossed with an apology for killing the golden goose & then eating it & if you want it back, wait & make me puke.

Barney Franks, my hero

Barry

Subject: RE: BS: $100 million bonuses to AIG execs
From: Ebbie
Date: 19 Mar 09 - 02:32 AM

"Obama said today "don't blame democrats or republicans, blame me."" Donuel

As you know, Obama did not say that. He said: "Washington is all in a tizzy and everybody is pointing fingers at each other and saying it's their fault, the Democrats' fault, the Republicans' fault," he said at a town hall meeting Wednesday. "Listen, I'll take responsibility. I'm the President."

"He also make clear that it isn't really his fault. "We didn't grant these contracts," he said.

"But he added: "So for everybody in Washington who's busy scrambling, trying to figure out how to blame somebody else, just go ahead and talk to me, because it's my job to make sure that we fix these messes, even if I don't make them."

Subject: RE: BS: $100 million bonuses to AIG execs
From: bald headed step child
Date: 19 Mar 09 - 01:56 AM

It would be nice if there were only 3 or 4 sets of books.

I heard on the radio today, and I'm sorry I didn't catch who was speaking, that some unidentified source inside AIG estimates there are at least 10 LAYERS of bundles involved that could total as much as $400 trillion on only $4 trillion value.

If those numbers are right, I don't think anyone can truly comprehend what the effects might be of just letting them go under, but it sure wouldn't be a pretty sight.

BHSC

Subject: RE: BS: $100 million bonuses to AIG execs
From: Riginslinger
Date: 18 Mar 09 - 10:24 PM

Dodd is toast. Will the Obama Administration follow?

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 18 Mar 09 - 10:11 PM

Oh he just means he didn't know the bonuses to anyone were really, really big.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 18 Mar 09 - 10:02 PM

oh dear.

This is bad for going forward - with Dodd on point.


"On Monday, Mr. Dodd criticized bonuses given to executives of American International Group Inc., the huge insurer that has received $173.3 billion in federal aid. "This is another outrageous example of executives -- including those whose decisions were responsible for the problems that caused AIG's collapse -- enriching themselves at the expense of taxpayers," he said."

His story is hard to follow. He says he didn't know about any existing bonuses back then (February? or whenever Fed employees "forced" him), but that makes no sense - did he think he was approving new bonuses, yet to be granted with the bailout money???

Subject: RE: BS: $100 million bonuses to AIG execs
From: Donuel
Date: 18 Mar 09 - 08:29 PM

The Treasury dept can not add ammendments or pass legislation.

Dodd said yesterday that he had nothing to do with the change of his original wording to not allow bonuses.

Today he said that he did change it at the request of the treasury dept.


Obama said today "don't blame democrats or republicans, blame me."

Subject: RE: BS: $100 million bonuses to AIG execs
From: McGrath of Harlow
Date: 18 Mar 09 - 07:29 PM

There seem to be no legal problems with freezing the assets of foreign countries identified as enemies. Applying the same approach to the assets of people like these would seem pretty fair.

Subject: RE: BS: $100 million bonuses to AIG execs
From: Bill D
Date: 18 Mar 09 - 06:16 PM

Dodd says the Treasury dept. added an amendment to the bill about 'abrogation of contracts', designed, as I (and he) understood it, to prevent problems...AIG officials just used it to 'justify' the bonuses. Dodd says he had no idea that the amendment was fraught with loopholes.

(paraphrased)

Subject: RE: BS: $100 million bonuses to AIG execs
From: Donuel
Date: 18 Mar 09 - 05:54 PM

Sen Chris Dodd did it


He is going to eat crow or fall on his sword

Subject: RE: BS: $100 million bonuses to AIG execs
From: Donuel
Date: 18 Mar 09 - 03:11 PM

When ceo Liddy tries to explain he always adds "given market conditions...or... We have an exit plan to pay back the USA although even those plans are subject to extremely volitile markets.


Listen to Liddy say that only certain people can UNWIND some of these books. (by the way AIG has between 18 to 24 "books" as explaind by CEO Liddy).

Unwind, what does it mean. It means you get a guy who will meet with the head or board of a bank or firm who expects to get a pay out with money AIG doesn;t have. THe AIG guy asks "What will it take to get you to forget about this debt or take less than half owed?"

Will it take an Italian Villa on the shores of Corsico? For everyone on the board? A personal Swill, I mean Swiss bank account that no one will ever know about?

When he gets a nibble then all they are talking about is how much.


--------Now you see why it takes a special James Bond kind of guy to do these kinds of "unwinding" procedures.

Subject: RE: BS: $100 million bonuses to AIG execs
From: heric
Date: 18 Mar 09 - 02:18 PM

Thank you Donuel for yet another brilliant recap. My "understanding" is essentially the same as yours. I don't know about the quantities involved or the probabilities of long term results, but they sound feasible as you have presented them.

Subject: RE: BS: $100 million bonuses to AIG execs
From: Donuel
Date: 18 Mar 09 - 02:18 PM

I watched the CEo of AIG testify before Congress.

Here is a brief summary


Do you swear to tell the truth, the whole truth and nothing but the truth so help you God?

ceo Liddy: "fagettaboutit"

thank you



ceo Liddy: I'd like to read some remarks first... I look around and see you have a nice country here. It would be a shame if anything happened to it. By the way, I'm new here, the boss you want is long gone.


{women in pink hold up signs saying Crook! Thief! Crooked Casino owner!}

Chairman " Before I call the next Congressman I want all those signs surrendered to the Seargent at Arms o you will be physically removed from this chamber...

{women hold up their signs and give them to a security guard}

Barney Franks: "thank you Mr Chairman, in regards to the way you handled that situation it is a good thing those signs were not on T shirts. Now Mr. Liddy I would like you to give me the names of those who both got those retention bonuses as well as those who givae them back.

ceo Liddy: I can not do that unless I have full confidentiality,

Barney Franks: I can not guarantee that so I move that we supeona the names.

Liddy: (reads sample death threats) Don;t forget we already have 100s of billions of your dollars. Ot would be a shame if anything happened to it.


Barney Franks
I see, Supeona please!

Subject: RE: BS: $100 million bonuses to AIG execs
From: Donuel
Date: 18 Mar 09 - 01:07 PM

The following is not meant to scare you but if well understood will give you a better idea why AIG needs to be nationalized at the peril of a possible crippling inflationary spiral when other global banks end up taking losses that AIG prentended they could insure.

Banks have books. They have more than one book. They just don't have 2 sets of books but many.

The first book that AIG is said to be trying to unravel is the credit default swap book. This book of derivitive sales of bundeled bad mortgages is only the smaller part of their depraved scam.
This is somewhere around a 3 to 4 trillion dollar loss.

The second book is their insurance polices on banks that were encouraged to invest in fake junk with borrowed money.
This book that is rarely if ever dicussed stands at a potential 4 to 8 trillion dollar loss.

The third AIG book is the corporate swap book. This most secret book of all is secret in the sense that only two parties know about the insurance bet that was placed...the seller of the insurance on a puirchase of a corporate bond and the buyer of the insurance on the bonds they bought to not lose thier value.

When GM goes bankrupt, all the insurance that was sold to people who bought bond insurance will want their money. AIG never had the money to pay. Somme of these 2 party deals have a whole list of coprporations that need to fail for the "bet" insurance to be paid out.
Lots of corporations are going under and the insurance adds up to more money than the world has. The players were mostly hedge fund types that could play in the playground with no rules.
The worst case scenario for this bank book is more loss than the first two books put together.

I contend that it doesn't take a genius to understand or "unravel" this mess. AIG needs to be nationalized, split up and resold because the hope of unraveling these crimes so that all the buyers of these financial insurance buyers and the uncapitalized insurance sellers will never add up. Unless the tax payer pays for these bets tto be settled for the hedge fund investors for the next 100 years.


When and if AIG is nationalized the bettors around the world will want their money and be so pissed that they will sell our treasury notes and discredit the value of the dollar.

THis will hurt but the hurt will not last as long if we don't "kill" AIG.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 18 Mar 09 - 12:01 PM

"Geithner, who has come under fire from Congress over the AIG payments, said in a letter to lawmakers last night the government will recover the money by requiring it be repaid from company operations and deducting the amount from the next $30 billion in aid being provided to the insurer."


hee hee hee

Subject: RE: BS: $100 million bonuses to AIG execs
From: JohnInKansas
Date: 18 Mar 09 - 02:51 AM

AIG paid 73 execs $1 million bonuses

"Troubled insurance giant American International Group paid bonuses of $1 million or more to 73 employees, including 11 who no longer work for the company, New York Attorney General Andrew Cuomo said Tuesday."

"According to the attorney general's office, the top individual bonus was more than $6.4 million, and the top seven received more than $4 million each."

AXIOM OF EFFECTIVE PROPAGANDA #1: Give people permission to hate something, and it takes their minds completely away from what you're really doing.

Used effectively and apparently intentionally by the past administration, but in this case possibly "inadvertent." (The "permission" (from Obama) came only after the hatred had already erupted.)

At least one other company receiving a large bailout convinced its executives to accept $1/year base salary and to waive similar "retention bonuses." (Other "deferred compensations" may remain, but haven't been reported.) One wonders if AIG even asked if it's execs would agree to waivers.

Given the complexity of the scams involved, it may actually be to the advantage of the citizenry to have persons key to their creation and operation close at hand to assist with unravelling them. I'd confess to mixed emotions about whether they should be retained as employees or as "enemy terrorists" (Note: "enemy terrorists" has been shown to be so loosely defined as to include "anybody we don't like," so it's probably appropriate.)

At the very least, the specific identities, functions, and contract details should be made available to Congress, the Administration, and to NY Atty General Cuomo (who seems to have b*lls enough to prosecute if an excuse can be found).

(Another article indicated that most(?) of those receiving the largest retention bonuses may have been in the UK subsidiary of the company, and might be out of reach for Cuomo, if they can show that they didn't directly affect business in NY.)

John

Subject: RE: BS: $100 million bonuses to AIG execs
From: Amos
Date: 18 Mar 09 - 01:16 AM

American intelligence experts are analyzing a new terror video from the American International Group (AIG) in which the leader of the shadowy organization demands billions of dollars from the United States.

In the four-minute tape, which surfaced over the weekend and caused deep concern among U.S. officials, a man believed to be the chairman of AIG says that if his organization is not paid its ransom, "chaos and destruction will rain down on the American economy."

"If we are not paid billions more in bonuses and corporate golf retreats, America will be made to suffer," the man threatens.

Intelligence analysts said that the man, AIG chairman Edward M. Liddy, appears to be speaking at a luxury beach resort that offers few clues as to his exact location, although there is "good intelligence" pointing to the Ritz Carlton in the Cayman Islands.

"We have some reason to believe that he and other AIG executives are there, based on a series of intercepted room service orders from the all-day dining menu," one analyst said.

Reacting to the video, Homeland Security Secretary Janet Napolitano raised the nation's terror alert level to orange, meaning "taxpayers are about to get reamed again."

(From the Borowitz Report--a SATIRE site)

Subject: RE: BS: $100 million bonuses to AIG execs
From: pdq
Date: 17 Mar 09 - 10:17 PM

Senator suggests AIG execs should kill themselves

"IOWA CITY, Iowa – Iowa Sen. Charles Grassley suggested that AIG executives should take a Japanese approach toward accepting responsibility for the collapse of the insurance giant by resigning or killing themselves.

The Republican lawmaker's harsh comments came during an interview with Cedar Rapids, Iowa, radio station WMT on Monday.

They echo remarks he has made in the past about corporate executives and public apologies, but went further in suggesting suicide.

'I suggest, you know, obviously, maybe they ought to be removed,' Grassley said. 'But I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide.

'And in the case of the Japanese, they usually commit suicide before they make any apology.'

Grassley spokesman Casey Mills said the senator isn't calling for AIG executives to kill themselves, but said those who accept tax dollars and spend them on travel and bonuses do so irresponsibly.

'Senator Grassley has said for some time now that generally speaking, executives who make a mess of their companies should apologize, as Japanese executives do,' Mills said. 'He says the Japanese might even go so far as to commit suicide but he doesn't want U.S. executives to do that.'

The senator's remarks added to a chorus of public outrage over the disclosure that AIG intends to pay its executives $165 million in bonuses after taking billions in federal bailout money. President Barack Obama lambasted the insurance giant for 'recklessness and greed' on Monday and pledged to try to block payment of the bonuses."

Subject: RE: BS: $100 million bonuses to AIG execs
From: Slag
Date: 17 Mar 09 - 10:08 PM

"Contract with America" There's one. This is really great! Finally a topic that, for the most part, is uniting Americans again, left, right, middle.

From what I have heard today there were apparently some AIG folks in divisions who WERE doing their jobs correctly and their bonuses were more in line with industry standards. Then there were those who got "retention" bonuses for staying with the company, who were NO LONGER WITH the company? I have to wonder why at that one! What could motivate you away from such a sweet deal? Maybe it was the rising sound of deep waters headed their way! There were other bonuses pending too. Thank goodness that Uncle Sugar came along and made them happen. It's like what? Bankruptcy would have been worse?
As for the mob mentality, that mob is most all Americans of every stripe who smell the stench of a rotten deal.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 17 Mar 09 - 09:41 PM

Yeah I agree that the BIG problems are more than quite a bit bigger than this one - but it's something everyone can bite into. Something less complicated like this is, well, a nice break for us all?

Subject: RE: BS: $100 million bonuses to AIG execs
From: Bobert
Date: 17 Mar 09 - 09:27 PM

Ya know, I was down in the belly of my old hotel doing plumbing all day but I had public radio on and it seems as if that is all that folks were talkin' about today...

Seems as if I have heard every opionion that is imaginable but the one that sticks out in my mind is about contracts... I'm not asyin' that these contratcs couldn't have been renegotiated but they are contarcts....

As much as I hate to see these rich crooks get away with this there is a rationality toto it in that the entire concept of contract law remains intack.... If folks think they can break contractual agreements then I think we are opening a can of worms that would cost US many times more then these crooks got away with...

Just food for thought... Okay, maybe not words that would be well received by the emotional, but words none the less...

B~

Subject: RE: BS: $100 million bonuses to AIG execs
From: McGrath of Harlow
Date: 17 Mar 09 - 08:05 PM

There's a facility down at the East end of Cuba that is going to be surplus to requirements pretty soon. It might be just the place for these gentlemen to be kept safe from angry members of the public for the next few years, or for as long as seems advisable.

Subject: RE: BS: $100 million bonuses to AIG execs
From: McGrath of Harlow
Date: 17 Mar 09 - 07:01 PM

It sounds as if these people may need to be given protective custody, at least until the recession/slump/downturn/crunch is over.

Subject: RE: BS: $100 million bonuses to AIG execs
From: heric
Date: 17 Mar 09 - 06:37 PM

Wesley:

A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.

"It's a mob effect," one senior executive said. "It's putting people's lives in danger."

Politicians and the public spent yesterday demanding that AIG rescind payouts that they said rewarded recklessness and greed at a company being bailed out with $170 billion in taxpayer funds. But company officials contend that the uproar is scaring away the very employees who understand AIG Financial Products' complex trades and who are trying to dismantle the division before it further endangers the world's economy.

"It's going to blow up," said a senior Financial Products manager, who spoke on condition of anonymity because he was not authorized to speak for the company. "I have a horrible, horrible, horrible feeling that this is going to end badly."

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961_pf.html

Subject: RE: BS: $100 million bonuses to AIG execs
From: jacqui.c
Date: 17 Mar 09 - 02:49 PM

Depends how angry the bodyguard is, Bill.

Subject: RE: BS: $100 million bonuses to AIG execs
From: Bill D
Date: 17 Mar 09 - 02:08 PM

For a million, you can even hire a bodyguard to protect you from angry citizens.

Subject: RE: BS: $100 million bonuses to AIG execs
From: number 6
Date: 17 Mar 09 - 01:43 PM

News coming into CNN ...

AIG paid 73 employees bonuses of $1 million or more; 11 of whom are no longer there, according to NY Atty. Gen. Cuomo.

f&%k !!!

biLL

Subject: RE: BS: $100 million bonuses to AIG execs
From: Wesley S
Date: 17 Mar 09 - 01:34 PM

It would suprise me to see protesters outside AIG's headquarters. Has anyone seen or heard of any demonstrations yet? Shouldn't someone get them started?

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,Bob Ryszkiewicz
Date: 17 Mar 09 - 12:54 PM

Give them their cheques. In a stadium, with world media's cameras rolling, one by one, on a stage in front of an audience of the world's poor, homeless, 3rd world countries, single Mother's, etc.
BR

Subject: RE: BS: $100 million bonuses to AIG execs
From: john f weldon
Date: 17 Mar 09 - 12:13 PM

There seems to be a certain amount of disapprobation here and elsewhere about these bonuses, but so what? There's a lot you can do with 100 million to help ease the sting of obloquy!

1) Hire some philosophers who will tell you that acquiring wealth for yourself is fundamentally good, regardless of the means.

2) Hire some economists who will tell the world that 100 million isn't very much, and that taxpayers shouldn't worry about it.

3) Get the same economists to say that spending 100 million on the arts would be a disgraceful waste of money.

4) Hire a ghostwriter to work on a self-serving autobiography.

5) Buy a TV network, and a newspaper chain.

6) Buy lots of friends.

7) (Optional) Hire a few songwriters to write songs about what a great person you are. Buy some radio stations to play the songs.   (Hey guys... ...trickle down??)

Subject: RE: BS: $100 million bonuses to AIG execs
From: Greg F.
Date: 17 Mar 09 - 09:42 AM

Hi, Mick-

Its not about me being full of myself (and I, too, tried "doing battle" with ol' Douggie for some years until I got tired of talking to myself).

Its about Doug being full of crap.

I didn't find Joe McCarthy amusing or entertaining, nor Strom Thurmond nor David Duke, nor Rush (the current buffoon at the head of the Republican Party, God help it).

And I find Douggie taking the same type of sideshow show on the road considerably more disgusting than diverting.

Best,

Greg

Subject: RE: BS: $100 million bonuses to AIG execs
From: Slag
Date: 17 Mar 09 - 03:40 AM

Oink oink! I must be a piggy bank 'cause it seems like Uncle Sweeetems owns me and every time he wants MORE of my money he just shakes (down) little 'ol you me, when ever he want for whatever he wants.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,Guest from Sanity
Date: 17 Mar 09 - 01:48 AM

Seriously? I'm supposed to get upset about this? After watching democrats on television telling me the 8.8 billion dollars in earmarks was only 1% of the last budget so it was no big deal?

I'm supposed to what, forget Geithner was the architect of the AIG bailout and that the current CEO who green lighted the bonuses was the guy put in charge by the government after the bail out?

What's the best way to rob a bank?

Own it.

Subject: RE: BS: $100 million bonuses to AIG execs
From: Barry Finn
Date: 17 Mar 09 - 01:40 AM

Obama attempts to block bonuses is reported here. Weither or not he can is another story.

It's said that AIG is to big to fail that it was cause all the smaller banks & firms to go under with them. Give he money to the smaller banks & firms & let AIG fail.

Barry

Subject: RE: BS: $100 million bonuses to AIG execs
From: Peace
Date: 17 Mar 09 - 01:28 AM

IMO, ten cents is too much.

Subject: RE: BS: $100 million bonuses to AIG execs
From: JohnInKansas
Date: 17 Mar 09 - 01:21 AM

BMick -

It looks to me like Heric is still talking about the bonuses, while Greg's post (with the links) was to the articles I heard quoted on NPR radio yesterday, about where the whole 190B$ bailout went.

The more informative one, if you want a quick read:

AIG Says Emergency Aid Used To Pay Other Banks

A "quicky" summary list of the top 20 recipients:

AIG's Payments To Banks

At the second link, near the bottom, you can find a .pdf of the full AIG report of what BANKS received money from the bailout.

There still has been no report (that I've heard of) of what people received money from the bonuses.

John

Subject: RE: BS: $100 million bonuses to AIG execs
From: Big Mick
Date: 16 Mar 09 - 11:08 PM

Greg, good buddy, don't get too full of yourself about Doug. I have been doing battle with him for years, as have a few others. At some point, arguing with an idealogue becomes a meaningless exercise and you quit. I just jump and throw a few jabs now and again to remind him how wrong the policies of his heroes have now come to be understood. Once in a while he comes up with an original thought that deserves serious consideration, analysis, and debate/discussion. Most of the time there is no point.

Mick

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 16 Mar 09 - 10:57 PM

I mean knowledge of the specific bonuses in question was last fall - NYT.

The only way to stop the carnage, with revenge as an aside, is to nationalize.

Subject: RE: BS: $100 million bonuses to AIG execs
From: Greg F.
Date: 16 Mar 09 - 10:51 PM

NPR stories here:

http://www.npr.org/news/graphics/2009/mar/aig/

and here

http://www.npr.org/templates/story/story.php?storyId=101948425

and yes, AIG failed last fall & was bailed out by the Bushies- not the Obama Admin.

Subject: RE: BS: $100 million bonuses to AIG execs
From: GUEST,heric
Date: 16 Mar 09 - 10:50 PM

News flash these bonuses have almost all been distributed as of last week.