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Thread: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by Reverend_Hellh0und View Post
    Again, I am asking you for proof. So far you have none.



    Please provide proof or concede you made this up.
    My research indicated the statement is valid. Do you own research if you want to disprove it.

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by WillRockwell View Post
    My research indicated the statement is valid. Do you own research if you want to disprove it.



    Ah, so you made it up. Thanks for the concession.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Obama's statements on this are making him look like an impotent fool. How can anyone with half a brain not understand this idiot is in way over his head?

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by TOJ View Post
    Obama's statements on this are making him look like an impotent fool. How can anyone with half a brain not understand this idiot is in way over his head?
    This is what happens when Cult replaces curiosity.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Did you know Sen. Dodd put in a provision allowing executive comp that was in contract before Feb09? And that these bonuses were planned LAST YEAR, and were well known?

    The only outrage here should be at the idiots in Washington braying over this.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by Korimyr the Rat View Post
    Well, for starters, the amount of money they're spending on those bonuses is less than two-tenths of a percent of the money they've received in bailout money. Let's keep that in perspective.

    And, more importantly, those bonuses are monies that AIG is contractually obligated to pay out. Attempting to not pay those bonuses would cost them more money, as they would have to pay for lawyers, and court costs, and then interest after being forced to pay the bonuses.

    There's really nothing that they can, or should, do to prevent this.
    Part of me agrees with you...but that's a very small part.

    The mainstream media isn't really talking about the contractual part of the pay-outs. The focus is on the bailout money that's being used to pay the bonuses. And while I understand the anger that stems from the use of those bailout funds, I also understand that AIG was obligated to pay out "insurance costs for damages" issued accordingly. Now, here's where I have a problem with what AIG is doing...

    They report* that the insurance branch of their company is financially sound and that they can pay off insurance claims accordingly, yet they don't make payments until after they receive government bailout funding. Hence, the perception that they're using bailout money to pay those insurance claims. BIG mistake by AIG regardless of their contractual obligations. If they really wanted the American people to believe their conducting "contractual" business above board, they should:

    1) let the public (government) review their books.

    2) state publicly what's really going on.

    3) let it be know why they waited until after receiving bailout funds in order to make contractual insurance payments.

    4) make it clear whether it's their money or taxpayer money that's being used.

    If AIG can clarify matters on all four counts, I think the public/U.S. government would calm down on this matter. Otherwise, they look no better than the last big corporation (I can't remember their name) who used bailout funds to pay millions in bonuses. Fortunately, the public spoke up and that company backed down.

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    If the bailout is to keep these companies running and the retention bonuses are to keep the employees on staff what sense does it make to cancel the bonuses???

    OBL 11/24/02

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by Objective Voice View Post
    ...

    1) let the public (government) review their books.

    2) state publicly what's really going on.

    3) let it be know why they waited until after receiving bailout funds in order to make contractual insurance payments.

    4) make it clear whether it's their money or taxpayer money that's being used.

    ....
    What are you talking about? The government owns 79.9% of AGI now and after the takeover installed their own officers and BOD. The government has and can release to the public whatever information they want.

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by WillRockwell View Post
    80% of AIG is owned by taxpayers. That's way more than a controlling interest, and AIG is no longer a private company, and as president, Obama has every right to step in on our behalf. Contracts signed by the previous owners should be null and void.
    Thank you for eloquently explaining why we should not have given them any ****ing money and why the government getting involved in business and owning business is ****ing idiotic.

    "lesser of evil" my ass. At leats you've essentially admitted you prefer socialism.

    Quote Originally Posted by WillRockwell View Post
    My research indicated the statement is valid. Do you own research if you want to disprove it.
    My brother's friends cousin's research told me they didn't.

    Seems we've presented an even amount of evidence. Guess what, its YOUR JOB to back up your statement YOU MAKE with FACTS if you wish anyone to care anything at all about what you state is true.

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    Re: Obama tries to stop AIG bonuses: 'How do they justify this outrage?'

    Quote Originally Posted by bhkad View Post
    If the bailout is to keep these companies running and the retention bonuses are to keep the employees on staff what sense does it make to cancel the bonuses???
    These are not bonuses paid to CEOs who simply did a good job.

    A retention bonus is money paid to keep someone who is about to be laid off/fired from quitting until the appointed date.

    The people who will receive retention bonuses have been given notice that their jobs about to end.

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