AIG Rec'd $170 billion in Bailout /Giving$165 million in bonuses

[petros]

It doesn't matter what is used for a currency; gold, cheese, pencils, things that grow on trees, money..it doesn't matter. The only things that matter are what value is placed on it by the holders and how easy is it to trade.

By driving the value down and hoarding when low and selling when high is the entire premise of money. It is when those who have been hoarding deliberately manipulate markets to deminish value so they can hoard even more that causes the havoc leaving Joe nobody struggling to to get by with a low value dollar and high priced goods.

Those who don't freak out or realize it's a scam are playing this game to their advantage are making off with the lion's share of the economy.

It happens every 22 years like clockwork.

 

[EagleSmack]

Why is it good for AIG to give out bonuses to these Execs? Are you guys just playing devil's advocate?

 

[petros]

I guess in Canada we can say that as it's not our tax dollars that are baling these clowns out. Rewarding incompetence and skulduggery doesn't work regardless of which jurisdiction it's in. These guys should all be in jail.

It may not be your tax dollars but it turned our dollar into chicken feed and inflation is eating away your income and savings.

 

[Ron in Regina]

AIG Rec'd $170 billion in Bailout /Giving$165 million in bonuses

Just watched CBC's The Hour.....do you know how good the AIG execs that are getting the 165 million bucks....do you know what they did last year?

in the last QUARTER....in three months......they lost 61.7 BILLION (yep, that's BILLION, with a "b"!) dollars.

How is that even possible????????

And then to be rewarded....

These "bonus's" at AIG are being called "retention bonus's" and
it sounds like not everyone who was paid (or is it will be paid?)
a "retention bonus" at AIG are even still currently is employed
there.

Isn't that bizarre?
____________________

 

[Ron in Regina]

AIG Rec'd $170 billion in Bailout /Giving$165 million in bonuses

Dodd: Administration pushed for language protecting bonuses


(CNN) -- Senate Banking committee Chairman Christopher Dodd told CNN
Wednesday that he added language to the federal stimulus bill to make sure
contracts for bonuses at companies receiving federal bailout money stayed in place.

Dodd told CNN's Dana Bash and Wolf Blitzer that Obama administration officials
wanted the language added to an amendment limiting bonuses that could be paid
by those companies. He said they were afraid that without it, the government
would face numerous lawsuits.

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

As outrage over the AIG bonuses spreads and finger-pointing continues, lawmakers
are trying to convince the public that it isn't their fault.

The rest of the article can be found here: Dodd: Administration pushed for language protecting bonuses - CNN.com
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[lone wolf]

Dodd needs a prod....

Why would I got to jail for pulling these scams?

 

[normbc9]

Of course Senator Dodd now has some better recollection. He went back and looked at what happened and his magic memory came back. What Dodd was afraid of and why he did come up with these statements is he knows some investigative journalist will find the documents and expose him for the liar he is at a later date. He was the one who excluded the Snow/Widen provision also.

 

[lone wolf]

Gotta love crooks, eh?
Hydro One CEO Eleanor Clitheroe fired
...and the crooks that let them worm their ways in.

 

[Cannuck]

Why is it good for AIG to give out bonuses to these Execs? Are you guys just playing devil's advocate?

They aren't bonuses. They are contractually obligated to pay them and they should pay them.

 

[petros]

Where in the bail out guidelines does it say "pay bonuses"?

 

[Cannuck]

Every and all companies should pay their employees what they have agreed to pay them or they should ask their employees to voluntarily take a cut.

 

[petros]

A bonus isn't "pay".

 

[JLM]

Every and all companies should pay their employees what they have agreed to pay them or they should ask their employees to voluntarily take a cut.

I don't agree as the agreement entailed paying up with someone else's money and it's just plain wrong to perpetuate anything based on a false premise actually two false premises, one they were to be compensated for productivity and two the money was to come from the company. Corruption should always be nipped in the bud.

 

[Cannuck]

You have that backwards. Pay isn't a bonus. These are not bonuses. AIG is contractually obligated to pay them. People keep calling them bonuses and that is causing confusion.

 

[JLM]

Where in the bail out guidelines does it say "pay bonuses"?

Hey Petros- don't get offended, but did you ever consider changing your Avatar? - it would make it so much easier to talk to you face to face :lol::lol::lol::lol:

 

[Cannuck]

I don't agree as the agreement entailed paying up with someone else's money....

It's AIG's money. The government gave it to them. One could argue whether the bail out should have occurred but that would accomplish little. It has occurred and AIG needs to live up to it's obligations. It needs to pay its employees what it has agreed to pay them and it needs to pay its suppliers what its agreed to pay them.

 

[JLM]

You have that backwards. Pay isn't a bonus. These are not bonuses. AIG is contractually obligated to pay them. People keep calling them bonuses and that is causing confusion.

How do you get a "bonus" out of something that isn't there to begin with? Time to get acquainted with the real world Cannuck and get off your cloud.

 

[JLM]

It's AIG's money. The government gave it to them. One could argue whether the bail out should have occurred but that would accomplish little. It has occurred and AIG needs to live up to it's obligations. It needs to pay its employees what it has agreed to pay them and it needs to pay its suppliers what its agreed to pay them.

NO - you are not getting the picture, Cannuck, they are having this problem in the first place because they (AIG) doesn't have ANY MONEY.

 

[petros]

****! We owe the crack dealers lots of money then. You gonna be the first to pay up?

 

[Cannuck]

How do you get a "bonus" out of something that isn't there to begin with?

I don't. If you've bothered to read my posts you will find that I don't believe they are bonuses. Calling them bonuses doesn't make them bonuses. A bonus is something paid over and above what is due. That's not what this is and people criticizing AIG are either deliberately misleading people or are misinformed. Which camp do you fall into?