• Welcome to the new NAXJA Forum! If your password does not work, please use "Forgot your password?" link on the log-in page. Please feel free to reach out to [email protected] if we can provide any assistance.

%^#@ AIG!

CanMan

CanMan

NAXJA Forum User
Location
Lake Tapps, WA
I guess this would be somewhat political, since it has to do with the bailout and my tax money paid to the gov't.

Why the XXXX is our American tax dollars paying off foriegn banks XXXX ups?!
2up.gif


http://news.yahoo.com/s/ap/20090316/ap_on_re_us/aig_bailout
 
And you wondered why the govt agencies and all of the banks who got bailed out have resisted telling who got the money and where it went. Does anyone still harbor any doubt that this is the biggest fleecing in history by anybody anywhere.
In my opinion the first people who should have gotten 'bailed out' were those 60 and above who played by the rules, put their money in 'safe' investments and then lost it because of these scum executives, those should have had their funds restored to some date 2 years ago not the six and seven figure executives salaries and bonuses.

A good use for the world trade center would be a huge platform with stocks full of these scumbags so that people could throw rotten food at them for say 3 weeks, then take them on the road to as many US cities as possible to give EVERYONE a few tosses of rotten tomatoes.
 
IndyXJ said:
I heard if they didn't pay the bonuses they'd get sued for breach of contract and lose top talent. I see their top talent sucks, so the hell with 'em.
Click to expand...

Yes, these bonuses are agreed to as compensation and are held up in contract. These bonuses which are part of their comp package are never an issue. It's how they make their money. If my boss came in and said he was pulling my benefits or my bonus (which make up my comp package), I'd leave. Good luck finding comparable replacements by doing so. The "talent" may not suck, it's the people managing the money decisions. I thought this was company-wide bonuses and not senior level execs...??? If that's the case, the company would really be screwed if it didn't pay the bonuses.
 
RichP said:
...
In my opinion the first people who should have gotten 'bailed out' were those 60 and above who played by the rules, put their money in 'safe' investments and then lost it because of these scum executives, those should have had their funds restored to some date 2 years ago not the six and seven figure executives salaries and bonuses.

...
Click to expand...

I've heard mention of just that from some of the people inerviewed that were taken by Madoff...
 
Oh well...who cares. One thing I have noticed is that the American people don't even give a damn anymore. We are willingly bending over now...sigh, what a great nation we use to be.
 
Jester99 said:
Oh well...who cares. One thing I have noticed is that the American people don't even give a damn anymore. We are willingly bending over now...sigh, what a great nation we use to be.
Click to expand...

The part of America that I live in hasn't converted to Socialism, so we still care.
I find it ironic that the government is scrutinizing AIG for taking taxpayer money to honor their contractual obligations, yet they don't mind taking taxpayer money under the guise of a bailout and blowing it on programs that will also add to our tax burden. Hypocrites.

The right thing to do is for AIG execs responsible for creating the problems to not accept the retension bonus money.
 
XJEEPER said:
The part of America that I live in hasn't converted to Socialism, so we still care.
I find it ironic that the government is scrutinizing AIG for taking taxpayer money to honor their contractual obligations, yet they don't mind taking taxpayer money under the guise of a bailout and blowing it on programs that will also add to our tax burden. Hypocrites.

The right thing to do is for AIG execs responsible for creating the problems to not accept the retension bonus money.
Click to expand...
How many will admit responsibility?
Irresponsibility.jpg
 
Wow, I had not idea how big the scam really is/was/is, and who's behind it.

The government is crying foul and fingering AIG as the bad guys.........let's do some quick Google searches to uncover the real story.

You MUST read these, then let's play connect the dots........

http://www.talkingpointsmemo.com/archives/2009/03/cantwell_wheres_the_aig_money_going.php

http://news.yahoo.com/s/ap/20090317/ap_on_go_co/aig_outrage

http://www.cbsnews.com/stories/2009/03/16/business/main4868077.shtml

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031701195.html


Now, love him or hate him......a simple explaination of what's really happening.

http://www.glennbeck.com/content/articles/article/198/22856/
 
XJEEPER: Oh God, what do you want to go and throw the truth in there for?
 
Zuki-Ron said:
I'm more worried about why the price of gas went up 10cents overnight.

But, yah, this AIG stuff sucks hasta

:D
Click to expand...

Interesting, it dropped from $1.93 to a $1.84 yesterday south of here in the lehigh valley, no change locally for that special blend of Pocono tourist gas...
 
RichP said:
Interesting, it dropped from $1.93 to a $1.84 yesterday south of here in the lehigh valley, no change locally for that special blend of Pocono tourist gas...
Click to expand...

Yeah the station up the corner from me in Nazareth went from 1.92 to 1.86 and their heating oil has been 1.70 for over a month. Strange.
 
That is better than than the price difference in kerosene between the citgo station [$2.47] in wind gap, white clear, and the Sunoco [$3.99] in Broadheadsville with the dyed red crap that makes my kero heater all nasty looking.
 
From Forbes article today........

More important, the bonus issue is distracting from a bigger mess: the $44 billion in taxpayer funds AIG paid out to make good on payments due other financial firms. That sum includes $7 billion to Barclays (nyse: BCS - news - people ), $6.4 billion to Deutsche Bank (nyse: DB - news - people ), $4.9 billion to BNP Paribas (other-otc: BNPQY.PK - news - people ), $3.3 billion to HSBC (nyse: HBC - news - people ), among others. Many of those payments went, without restriction, to the coffers of the same Wall Street banks who paid out $20 billion in bonuses in 2008.

Don't expect a change anytime soon, though. In the White House's daily press briefing, Press Secretary Robert Gibbs was asked continually about bonuses and not once about payments to foreign banks and hedge funds.

A Treasury official told Forbes Monday afternoon that the government would add provisions to $30 billion in new bailout funding that would require repaying taxpayers for the bonuses, and said several repayment arrangements were being considered. Payouts for the other firms? No word on that so far.

Ironically, in the case of AIG, government involvement may have exacerbated all these problems. Under a traditional bankruptcy, all of AIG's obligations would have been up for review, all payouts frozen by a court.

Bankruptcy law is a well-established field with rules to proceed. Bailout law is still a gray area. "But for the government bailout, what would have happened to AIG?," asks Roman Silberfeld, a managing director specializing in complex litigation at Robins, Kaplan, Miller & Ciresi. "It would have ended up in a bankruptcy court somewhere."

There is, no honor among theives.......government officials finger AIG officials do shift the focus off of their own bait and switch of our money and send it to European banks, which the US public would never have approved of if accurately represented, "too big to fail, we must act now!"........reminds me of some childhood stories.

Henny Penny and the Boy who cried Wolf.
 
I don't think the Bonus is the worst part, passing new legislation and back dating it is the scary part. That should not be tolerated, it opens way too many doors. That would be like a shop sending you another bill a month after you paid, because they decided to change their rates. It's complete bull. If Congress didn't want the Bonuses paid they should have denied bailout funds until the contracts were renegotiated. I don't feel the execs have any legal liability to return any money.
 
Sen Dodd, the one who penned the "conditions", I guess is the best word, for the bailout says when he wrote it, bonuses were prohibited. When it came back, the pre-Feb 11 2009 exemption was added. At first hearing that sounds fairly solid. He did his best to prevent the bonuses, someone else added it to the bill that was then passed. But then you look at campaign contributions in 08 and Dodd received $103k+ from AIG, $2k more than the next highest recipient, Barack Obama at $101k. Number three? John McCain at $59k...why the big gap? Maybe because AIG knew who would win and wanted to make good and sure they got the most bribe for their buck?The list showed the top 20 recipients. Obama and Dodd together equal more than the other 18 combined. Whatever happened to private financing and not being bought off, etc?
 
Gas dropped 5 cents a gallon here from yesterday to today.

I understand the importance of honoring contacts, but I also think the people with those contracts should be helping out by taking cuts and not accepting the bonuses.

Thats the problem with these companies today, nothing is familiy owned anymore, nobody feels any pride about the name on the building and what has been created. They take their golden parachute and jump, damn the employees and damn the future of the company, I got mine.

I got told no raises this year. When our budget showed that someone got a raise, I started asking some tough questions. I haven't liked the answers, so I'm looking for a new job.
 
You must log in or register to reply here.

Similar threads

chasdb
Chasdb build thread 2000 V3
Replies
1
Views
2K
chasdb
chasdb
lobsterdmb
Bipartisan bill would bar closures for 'political leverage'
Replies
0
Views
355
lobsterdmb
lobsterdmb
J Pugh
2000 Classic DD Build
Replies
10
Views
2K
J Pugh
J Pugh
lobsterdmb
Utah group seeking state takeover adds D.C. lobbying muscle
Replies
0
Views
168
lobsterdmb
lobsterdmb
RedJeep2.0
First hoodie order of 2015 *** Done and ready for pickup***
2
Replies
39
Views
2K
muddypunk
M
Back
Top