Insurance giant AIG to pay $165 million in bonuses - Yahoo! Finance
Gov't should make them give back the bailout money or start seizing assets.
Bonuses for top execs of AIG at the taxpayer's expense
- Thread starter L Gilbert
- Start date
Gov't should make them give back the bailout money or start seizing assets.
I agree. With them being one of the major causes for the economy being in the crapper, they do not deserve ANY bonuses. Pathetic.:roll::angryfire:
My guess is that legally they had to pay the bonus' out for 2008.
Having said that though, an equivalent "pay reduction" should be put in place for 2009 to recover those bonus' and ALL bonus' should be suspended while they still owe the gov't any bailout money.
People may scream that they will lose staff to their competitors, but isn't it the same "staff" that got them into the financial mess in the first place?
Having said that though, an equivalent "pay reduction" should be put in place for 2009 to recover those bonus' and ALL bonus' should be suspended while they still owe the gov't any bailout money.
People may scream that they will lose staff to their competitors, but isn't it the same "staff" that got them into the financial mess in the first place?
My guess is that legally they had to pay the bonus' out for 2008.
It is stupid, but assuming their "bright" is not a given (obviously)
Why arrange it legally to begin with? Seems to me bonuses should be something earned for doing more than what you were hired for that benefits your company. Seems stupid to make yourself obligated to give bonuses. And why should the gov't have to enable you to back up your obligations? I think bonuses are an internal issue that has nothing to do with gov't.
AIG is in insurance, can't they insure themselves for their obligations? lol
AIG is in insurance, can't they insure themselves for their obligations? lol
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It's the Insurance industry and alot of their compensation is based on quotas and commission.
Selling a bad loan is still selling and they get a commision for it and if they sell "X" number they make their quota and anything above and beyond gets them a bonus
It's usually upo to someone within the comapny to monitor sales and end users to provide some sort of due dilligence to protect the bottom line. Obviously, that wasn't happening
An example would be, if you went out to buy a new truck and figured on around $30,000. The salesman sold it to you for $20,000 even though you had recently declared bankrupty.
The Dealership would (hopefully) stop the sale as it has a good chance of "going south". The salesman could care less, he still gets his commission on $20,000 (about $1,800).
If enough of those type of deals get through the car dealership would be bankrupt.
I think the AIG bonuses are not only warranted but should be doubled or even tripled.
Sure these guys made some poor decisions but instead of going bust and losing a lot of money for investors they have managed to stay afloat by convincing government to bail them out.
Outstanding.
Sure these guys made some poor decisions but instead of going bust and losing a lot of money for investors they have managed to stay afloat by convincing government to bail them out.
Outstanding.
I agree, but with AIG money.
And the gov't should do something outstanding and demand the return of the money WITH the going rate of interest that AIG uses or else start seizing assets.
If you really think AIG would go bust, I have a bridge near here you might like to buy.
Don't be silly. The directors of the Corporation have a duty to the shareholders to maximise profitability and if government money can be used they are doing their job.
I'll bet you dollars to donuts you don't personally object to an accountant maximising your tax return even if the Liberals fear you'll spend it on beer and popcorn.
I guess they should have thought of that before eh? Maybe some of those high priced career bureaucrats should have written in a few more provisos before handing over the money.
Of course, we can't hold them responsible because this is all the fault of industry for anything they managed to wring out of the government :roll:
When did I say that? Regardless, all the more reason they should be applauded for getting the money then if that is your belief.
The real criminals here are the government who took the money from the taxpayer and redistributed it to who they saw fit. It is the government that created corporate welfare and it is the government that tries to pick winners and losers in industry.
In other words, don't blame the fat kid for being obese......blame the mother who feeds him a diet of cake and candy and lets him sit in front of the TV all day.
I am not being silly. I am looking to the ethics of what you seem to support. AIG is in business. If it cannot make it on the quality and quantity of their products they should bloody well fail. Same for the auto companies and Air Canada, etc. Why put the extra burden on the taxpayer because they can't hang onto the billions of profits they made in previous years?
Different kettle of fish. The money I would be saving is my own, not the taxpayers'.
As if their aren't grants and other such things already. They are in insurance business, they should rely on selling their products to people who want it, not whine and snivel to the gov't that they need money or they'll go under. They are lucky I am not the gov't. I'd flat out tell em if they can't stand on their own feet they can go bust.
Your words, "Sure these guys made some poor decisions but instead of going bust and losing a lot of money for investors ". Yes, I can imafine that lots of people with little or no ethics would applaud them.
It's an opinion.
Nope. I am blaming the fat kid for staying obese when it knows better.
Insurance parasites.... That figures! The thieving bas*ards deserve some explosive investments....
Wow....8O
"We cannot attract and retain the best and brightest talent to lead and staff the
AIG businesses, which are now being operated principally on behalf of the
American taxpayers -- if employees believe their compensation is subject to
continued and arbitrary adjustment by the U.S. Treasury," Liddy said.
We cannot attract and retain the best and brightest talent to lead and staff the
AIG businesses right down the cr@pper if employees believe their compensation is
subject to continued and arbitrary adjustment by the U.S. Treasury.
I vote the U.S. Gov't recalls its $$$ immeadiately, and AIG can either swim or
swirl around and down the bowl on its own at this point. This is just ugly. :angryfire:
"We cannot attract and retain the best and brightest talent to lead and staff the
AIG businesses, which are now being operated principally on behalf of the
American taxpayers -- if employees believe their compensation is subject to
continued and arbitrary adjustment by the U.S. Treasury," Liddy said.
We cannot attract and retain the best and brightest talent to lead and staff the
AIG businesses right down the cr@pper if employees believe their compensation is
subject to continued and arbitrary adjustment by the U.S. Treasury.
I vote the U.S. Gov't recalls its $$$ immeadiately, and AIG can either swim or
swirl around and down the bowl on its own at this point. This is just ugly. :angryfire: