If the bonuses were due to poor people nobody would say boo about it. In fact there would be outrage if the government took contractually agreed upon bonuses away from some poor people. The rich are just so hated.
Still, this wave of popular justice is just plain silly
Uhm sorry Geitner you have to re-negotiate the Contract in order to do that.
That is worse then the issue at hand. Its also illegal."We will impose on AIG a contractual commitment to pay the Treasury from the operations of the company the amount of the retention awards just paid," Mr Geithner's letter said.
"In addition, we will deduct from the $30bn in assistance an amount equal to the amount of those payments."
When you sign a contract you expect it to be upheld and legally binding..Not something one party can simply disregard.
Pretty sure it also would be unconstitutional.
That is realistic. Because they can do such without ignoring the contracts already in effect. Even if its as simple as a cheesey new never before seen fine its not breaking the contract.And Senate Democrats wrote to AIG Chief Executive Edward Liddy on Tuesday calling on him to hand over the bonuses.
"If these contracts are not renegotiated immediately, we will take action to make American taxpayers whole by recouping all of the bonuses that AIG has paid out to its financial products unit," the letter stated.
Someone will probably argue both the quotes say the same thing..they don't.
Key words are "Impose" and "Negotiate".
He is correct. But while "channeling" Obama is being caught in BS.The BBC's James Coomarasamy, in Washington, says these are uncomfortable times for Mr Obama.
The president is trying to channel public anger over the bonuses without becoming the object of that anger himself, our correspondent says.
Its almost become two issues now.
1. The AIG situation.
2. Obama, Geitner, etc lying for all intents.
I think Geitner is just blowing smoke and trying to continue using the subject to do what is remarked upon in the 3rd quote.
Last edited by Triad; 03-18-09 at 04:11 AM.
These "executives" whom created the fraud should be jailed.
When you claim to have something you don't have and then sell it to a consumer, that's called fraud. I'm surprised the gov isn't persuing criminal charges on AIG employees.
⚧ C.T.L.W. You figure it out
My Endo doc went over my blood work. "I see your estrogen level is now at 315, do you feel like you have too much Estrogen now?"
I told her "... N... N.. No..." and started crying.
United Auto Workers President Ron Gettelfinger said Wednesday the union will give up job protections and rework a retiree health-care trust in concessions aimed at helping automakers clinch billions in government loans to weather a severe downturn.
Gettelfinger told reporters in a news conference that the steps were the "responsible thing to do" and the union was currently engaged in discussions with the automakers to revise the contracts.
United Auto Workers Open To Contract Changes : NPR
“I’m worried that I will be the last Republican president.” - George W. Bush