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US Sen. Schumer threatens huge tax on AIG bonuses

Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month
Link to this story
Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Quote from article
(Treasury Secretary Tim Geithner was alerted last Tuesday, March 10; he phoned AIG CEO Edward Liddy on Wednesday evening, March 11, to protest the bonuses, sources told ABC News.

On Thursday, March 12, Secretary Geithner informed a senior White House official about the controversy, aides passed the information on to President Obama later in the day.)

OK I can accept the above.

Quote from article
(How the Obama administration was caught flat-footed by this controversy dates back to last Fall, when the New York Federal Reserve Bank -- then run by Geithner -- stepped in to give AIG a high-interest loan for $85 billion to help prevent the company from going under -- which Lehman Brothers was doing at the time. As part of the deal, AIG CEO Robert Willumstad was replaced by the new CEO, Liddy.)


Are they talking about the same Geithner or is this an entirely different person?
 
By my reading of that article, taxation by its nature doesn't appear to be covered by the bill of attainder clauses because it is considered "civil".

Basically the idea of that law was to prevent Congress from taking over the judicial role and legislating someone's punishment without giving them a trial. Raising your taxes doesn't seem to meet that qualification in the interpretation of the courts.
Believe whatever you like. I don't believe that source is the final arbiter on this subject.
:2wave:
 
The whole theory of "nationalize it till you can auction it off" wouldn't be AS distasteful as it is if there was any OUNCE of belief in me that the democrat controlled congress and presidency would actually auction it off instead of just seeing another way to expand government
 
This "talent" did such a wonderful job at AIG that the company has thus far needed over 170 BILLION DOLLARS to stay afloat.

This talent that received these bonuses were derivatives traders, the very greedy douche bags whose actions resulted in AIG needing over 170 billion dollars to stay afloat and advert worldwide financial collapse.

Do you honestly think that anyone else wants that "talent" right now? If you ****ed your company like that, would you deserve a bonus?

I picked the wrong profession. In IT, if I **** up and cost my employer a lot of money, they would just can me. However, if I just would have went into derivatives trading, I could get millions in bonuses after my **** ups cost my employer over 60 billion in just the last quarter, then get some rabid right wingers defending my bonuses.

These are the same people that created the problems at AIG? I'm not sure that you or anyone else here knows that.

They might be doing a great job cleaning out the garbage that was left for them and simply need more time.
 
Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month
Link to this story
Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Quote from article
(Treasury Secretary Tim Geithner was alerted last Tuesday, March 10; he phoned AIG CEO Edward Liddy on Wednesday evening, March 11, to protest the bonuses, sources told ABC News.

On Thursday, March 12, Secretary Geithner informed a senior White House official about the controversy, aides passed the information on to President Obama later in the day.)

OK I can accept the above.

Quote from article
(How the Obama administration was caught flat-footed by this controversy dates back to last Fall, when the New York Federal Reserve Bank -- then run by Geithner -- stepped in to give AIG a high-interest loan for $85 billion to help prevent the company from going under -- which Lehman Brothers was doing at the time. As part of the deal, AIG CEO Robert Willumstad was replaced by the new CEO, Liddy.)


Are they talking about the same Geithner or is this an entirely different person?

Yep. Unfortunately, it's the same wonder boy that has been up to his eyeballs in this mess from the beginning. But... no one else in the country could fix this mess except for Geithner. :roll:
 
They're not idiots but of course they think we are. The dems are now asking AIG to GIVE the bonuses back. Oh really? Other Republicans said Democratic leaders last month killed a plan that would have forced financial institutions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

Sen. Olympia Snowe, R-Maine, a co-sponsor of the amendment to Obama's stimulus bill, said striking it "left open an escape hatch of golden parachutes for top executives on Wall Street."

Why are we just hearing about this now?!

Ask those that hold the majorities... the gavel.
Heeeeeeere's Pelosi:
“And when you win the election, you win the majority, and what is the power of the speaker? To set the agenda, the power of recognition, and I am not giving the gavel away to anyone.”
Pelosi: 'I'm trying to save the planet' - David Rogers - Politico.com
 
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Which is why companies should be nationalized and then sold off once the market recovers rather than handed hundreds of billions of taxpayer dollars.
I was against the bailouts to begin with from both administrations, but there is never a good reason for the United States government to nationalize(which is just a cute word for socialize) a private company. AIG should have been forced into reorganization and should have been split into their subsidiary companies.

Companies should be scared to death of being nationalized if they are in this position. That creates an incentive against this kind of incompetence. As it is, we have only created a huge moral hazard for these derivatives traders.
Oh, I agree they should be scared to death of nationalization, but for reasons beyond "they got themselves in this position", their incompetance should have been rewarded with bankruptcy, but the government bailed them out, and now we have more incompetance. It's Washington's fault, why reward them with ownership of a private company?
 
This should chill a few companies.
It should also help tank AIG of talent.
I wouldn't want to work there with jerk offs like Schumer baiting and switching.
Painting employees there as Satan.

We need some CEO's to testify before the Senate and TAKE THESE MARXISTS ON.

Grill THE LEGISLATORS.
The creators of this mess.

Don't sit and take the crap.
FIGHT DAMN IT!

US Sen. Schumer threatens huge tax on AIG bonuses | Currencies | Reuters

Schumer is a major moron. Imagine telling a tax payer that because you don't think he deserved the bonus his company paid him/her, the Government is going to TAX you 100%.

These freaks are running the asylum; I hope Americans enjoy reaping what they are now sowing. The Congress, Senate and White House now infested with small minded intellectual midgets who are clueless about how the REAL world works.

You just can't make this crapola up people.
 
Believe whatever you like. I don't believe that source is the final arbiter on this subject.
Never said it was. If you have any contrary information you'd like to share, I'm all ears.

Maybe I'm innocent in thinking that this could be a place where people actually share knowledge and facts instead of mere opinions.
 
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