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AIG...another $165 million in bonuses to execs

Discussion in 'Politics, Elections & Legislation' started by daddiooo, Mar 15, 2009.

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  1. daddiooo

    daddiooo TS Supporters TS Supporters

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    AIG is awarding another $165 million in bonuses today (Sunday) to beat the deadline. (What deadline?) All this after another installment of bailout money from us, the taxpayers. Timothy (tax cheat) Geitner has asked them to "scale back" on future bonuses.

    CAN YOU BELIEVE THIS, YET AGAIN?????????



    Story on Yahoo home page, if you can bear to read it without bashing your computer.
     
  2. halfmile

    halfmile Well-Known Member

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    I have to take care of my computer, already shot 3 TV sets.

    Next is the paperboy.

    HM
     
  3. Setterman

    Setterman Well-Known Member

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    The brokers make a minimum monthly salary. The bonuses are based on their performance, and are the majority of their salary. It's no diferrent thana loan officer, car, or furniture salesman that works on a minumim salary plus commission, only these guys and gals have contracts. AIG has to honor the contract. Of course, there's a few more 00's at the end of the AIG checks.
     
  4. GW22

    GW22 Active Member

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    These are "Retention Bonuses," so nobody should be upset about it. It is perfectly fair, and was agreed upon last year. Besides, there's nothing the federal government could possibly do to stop it. And why should they? This is a GOOD thing. I mean, we, the citizens who now own a piece of AIG, would not want to let those executives who ran this gigantic business into the ground just up and leave. It's important that we reward them, and make sure they stay on board, so that they can continue to run one of the biggest taxpayer cash incinerators in American history. So you just go watch the March Madness Tournament or American Idol on TV, drink a couple of beers, keep paying your taxes, shut up, and let the SMART people run the country, OK?

    Republicans and Democrats BOTH allowed this to happen and they both shamelessly handed out billions of your tax money to reward and perpetuate it. We need to clear our heads and see this simple truth for what it is. The obvious fact is that neither party represents us anymore, at least not in a way the founding fathers would consider to be representation.

    And YES -- the government has HUGE interests in AIG and are basically in bed with them. That's why you must pay, and pay again to keep them afloat regardless of how badly they run their business and how many billions the executives stuff in their pockets as the ship sinks.

    Upset? Had enough? Then stop doing as you're told. Vote Libertarian, and quit throwing your vote away. That's what the founding fathers of this country, and Teddy Roosevelt, would likely advise you to do. You don't need to agree with the Libertarian platform (I don't completely believe in it myself). You don't even need to like their candidates -- they can't win for a while anyway because the system is rigged to favor the 2-party system (remember how mainstream politicians and their media partners turned H. Ross Perot from a "genius" into a "mental case" the instant he became popular and the 2-party system was threatened?). You just need to realize that your country is being destroyed by Ds and Rs, and actually DO something to demonstrate that you're not going to stand for it like sheep being lead to slaughter.

    Sorry if this post sounds like a lecture. I don't mean it that way, I'm just sick of seeing my kids' country being ruined by BOTH corrupt political parties. Democrats and Republicans are both now about big government, self interest, and preserving the system that put them in power, period. It's all a big game to them, and they goad us into squabbling and picking sides like little children in a bad divorce. It's like the cow and the pig arguing over whether the farmer or the farmer's wife is nicer... at the end of the day they're BOTH eating bacon and steak. I mean, just think about this example for a second: When Mary Matalin, the most hard-core right-wing Republican adviser ever to walk the earth, MARRIED James Carville, the most rabid let-wing Democrat pit bull alive, that was when I finally realized that 2-Party politics is all just a big game, and that those paying the bills (average taxpayers) don't get to play. For those of you who are too young, or simply don't remember Matalin and Carville, they were simultaneously direct advisors to the strongest Republicans and Democrats during the 80s and 90s. Seeing them get married was like discovering that Karl Rove and G.W. Bush had been banging Hillary Clinton and Nancy Pelosi in a foursome on election night, and that they all four bought stock in AIG the day before the bailout. Only perhaps less likely.

    The citizenry really needs to wise-up pretty soon. Otherwise we are undeniably part of the problem and deserve exactly what we get.

    Jeez.

    -Gary
     
  5. halfmile

    halfmile Well-Known Member

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    Gonna be pretty hard to overcome the voting power of the entitlement class and the Prius driving liberal puke school teachers.

    They keep pointing the finger at Bush for the meltdown, instead of telling the truth.

    November 2010 is very inmportant. If we can get the tide turned then we have a chance. Otherwise get ready for 6 dollar loaves of bread.

    HM
     
  6. trappermike

    trappermike Well-Known Member

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    Gary, STOP. I was going to lunch and you mention someone "doing" Hillary and Nancy Pelosi. Where are the MODERATORS? That is about the nastiest vision I have had in a very long time.

    Mike
     
  7. crusha

    crusha TS Member

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    How long until people get the impression a "government of laws and contracts" simply doesn't work anymore?


    The Slats Grobniks of the world are under no delusion about what's going on. They know who's getting pleasured, and who's getting shafted. And they think it's bullshit, and they're right. And when a citizenry gets that impression about their country...it's not a pretty thing.



    I think we needed to let ALL THESE COMPANIES GO UNDER, and I mean every goddamn one of them. So what if it plows a trench in the world economy 1,000 miles wide? People are getting hurt, anyway. This crisis was our opportunity to rid ourselves of a big portion of the "rats" who are pillaging our country - and we missed it. We bailed them out, and we perpetuated them, and we coddled them through the storm...so that they, and the financial infrastructure they created, could both survive to pillage again another day. A Perfect Storm of historic proportions had them on the ropes, stationary, helpless...a sitting duck for the straight right hand that would knock them through the ropes and onto the announcer's table. But we didn't have the guts to throw that punch. We were afraid of what it might cost us.



    Wall Street created a mile-deep crater in our economy. We had a chance to bury them in the hole they created, and be done with it. And we didn't do it. Democrats, Republicans...nobody.


    I was encouraging people to oppose the bailout when Bush and his cronies first proposed it. Yes, it would have taken a lot of Americans down with it...but that is happening anyway (and it's not over yet). It would have put our economy in a near-Depression...but Obama would have lost re-election by 40 points, and we could have started the rebuilding process for real. But no...everybody said, "We simply cannot afford that much pain...terrible things will happen if we don't do this bailout." And besides, we said - NASCAR starts in a few weeks!


    So we caved in to them - and now you can expect 5 more years of this outrage (with Obama at the helm, no less), followed by an inevitable future of high inflation and descent into a sprawling, flaccid, European-style Welfare State. But hey, American Idol and March Madness will still go on! I'll get to see my Grandbaby's soccer game! That "Governmental" stuff is beyond my control...but Oprah just gave me some great vacation ideas! WooHoo.


    It pains me to say it, but Halfmile's scenario of $6 loaves of bread is not a conjecture...it's hard-wired into our economic future now and cannot be avoided at any cost. China is already fidgeting publicly about the viability of their US Treasury Debt (and, truth be told, the only reason they're not already unloading it is because they fear it would accelerate a stampede of dumping that would crush the value of their holdings). We had the chance to endure extreme short-term pain to secure our long-term viability, and we fumbled the ball.

    September~October 2008 was the last 20 seconds of America's 4th quarter, and we had the game-winning field goal sitting on the tee and lined up between the uprights, ready to kick the Wall Street aholes out of the Stadium forever...

    - and we "whiffed!"
     
  8. A Sparks

    A Sparks Member

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    "retain the best and the brightest talent to lead and staff the A.I.G. businesses".

    Well that's comforting, look where they've gotten AIG today. For all means hang on to them at all costs!

    CV Starr is rolling over in his grave.
     
  9. daddiooo

    daddiooo TS Supporters TS Supporters

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    If these are infact retention and performance bonuses, by all means pay them according to the contract, then fire the hell outa' them all and send Tax cheat Geitner with them. We can't afford any more of his or their incompetence.

    Business is sink or swim, not fail then reward the guilty with a bonus.


    It's still wonderful to live in a country where no one is responsible or accountable.


    AIG isn't the only place that needs a good house cleaning.......congress comes to mind here too.
     
  10. hschwartz

    hschwartz TS Member

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    Guys:

    With all due respect, isn't this a trap shooting forum instead of a crap shooting forum.. Please limit your remarks to trap shooting.

    Regards,
     
  11. bigdogtx

    bigdogtx Well-Known Member

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    hs,,,,trapshootERS.com
     
  12. Jerbear

    Jerbear TS Member

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    Isn't AIG the governments pension holder? They won't let them fail. Non of them a$$holes would collect their retirement at full pay if AIG goes under.


    Jerbear
     
  13. Ed Holt

    Ed Holt TS Member

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    Have you looked at the Board of Directors of AIG? These little wonders control what goes on and who gets paid. However, these are all people who have no business sense at all?

    This will happen again and again and there in absolutely nothing you nor I can do about it. This is just part of the Obama philosophy. They have you by the #A@lls and they are going to make us all hurt.
     
  14. no5shooter

    no5shooter Member

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    Just two comments with regard to AIG: First, we keep hearing about how these outrageous bonuses have to be paid to keep good people. Where do you think they're gonna go? Who's gonna hire the clowns who drove AIG into the dirt? Second, it's probably true the government can't do anything to make AIG rescind these bonuses, and it's probably true the execs who are getting paid the outrageous bonuses have some kind of contract that ensures they get the money. The damn government doesn't have to hand over another $30 Billion. If AIG can afford these bonuses and the parties they've been enjoying, they can damn well figure out how to survive without more taxpayer money coming in. Or not, and I really don't care which.
     
  15. BT-100dc

    BT-100dc Active Member

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    Another example of government throwing taxpayers' money at an issue; when government attempts to correct something, it never works out as a correction; if you look up government in the dictionary it's defined as waste, waste, and did I say, waste? Expect more of this. It's called unintentional consequences. For the most part, government couldn't properly manage a one car funeral. BT-100dc
     
  16. GrubbyJack

    GrubbyJack Member

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    HS

    If you don't like the thread, don't read it....How simple is that..I don't agree with a lot of things here, but that's life...as to AIG they must sell K-Y on the side......Grubby
     
  17. Nuts

    Nuts TS Member

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    rather that a call this an economic stimulus...why not call it the "BONUS BAIL OUT"

    I heard Liddy (CEO) say we need the bonus to keep the best and brightest. Based on performance, I would say they have anything but the best adn brightest.

    These guys should be called the ROBBER BARONS OF THE 21 CENTURY.
     
  18. dcb_wvu

    dcb_wvu Member

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    As our first elected President, Thomas Jefferson put it:

    1. "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. "

    2. "It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world."

    3. "I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them."

    4. "My reading of history convinces me that most bad government results from too much government."

    5. "No free man shall ever be debarred the use of arms."

    6. "The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government."

    7. "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."

    8. "To compel a man to subsidize with his taxes the propagation of ideas which He disbelieves and abhors is sinful and tyrannical."

    9. "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."
     
  19. pj 999

    pj 999 TS Member

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    I might be wrong, but I read were the one guy was to receive 6.5 million as his bonus. That is equal to over 3 men working 40 years apiece making average of $54150 a year. He gets that in one check. Wow! Hard to believe you get a bonus rated on performance when your company went down the tubes. I broke this down for the labors at work today and it made more sense to them. The public has got to get a feel what is going on!!
     
  20. ccridr

    ccridr Member

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    If the government ownes 80 percent of the stock, who gets to vote that stock?
     
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