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Thread: US Treasury to reclaim AIG cash

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    US Treasury to reclaim AIG cash

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    BBC NEWS | Business | US Treasury to reclaim AIG cash

    This would be almost laughable if it were not so serious.

    The Obama administration is now saying they will deduct the amount paid in Bonus's from the amount AIG is to get from the US Obama Administration in the next bout of bail out.

    And they call insane people 'Crazy'?

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    Re: US Treasury to reclaim AIG cash

    This is starting to piss me off. Why do they keep giving them handouts without getting anything in return? Even some Republicans are starting to make noise about nationalizing companies like AIG. So when are Obama and Geithner going to grow some balls and do what needs to be done?
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    Re: US Treasury to reclaim AIG cash

    What I love is the feigned outrage by Obama and politicians. As if they didn't know.

    "These bonuses are just shocking..." yeah right.

    Whatever the government shouldn't be taking over AIG. I'd rather they fail then be nationalized.

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    Re: US Treasury to reclaim AIG cash

    All they need to do is act like regular private investors. If a venture capitalist sunk a ton of money into a firm and then it ran catastrophically into the red, he'd demand for the exec's heads on a plate.
    And why does your tone suggest that you do not care about children?

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    Re: US Treasury to reclaim AIG cash

    Quote Originally Posted by talloulou View Post
    What I love is the feigned outrage by Obama and politicians. As if they didn't know.

    "These bonuses are just shocking..." yeah right.

    Whatever the government shouldn't be taking over AIG. I'd rather they fail then be nationalized.
    If they are nationalized, then all of the institutions to whom they owe money (including many banks already being propped up by the government or teetering on the brink of bankruptcy) would have those accounts receivable completely wiped out.

    This, in turn, would cause many of them to go belly-up (unless the government bailed THEM out again...but I assume you don't want that). Then all of the institutions to whom THEY owe money would have those accounts receivable completely wiped out. Wash, rinse, repeat.

    Our financial system is far too complex and interdependent to handle a major blow like this. If major institutions like AIG go under, it could very plausibly create a financial tsunami that could literally bankrupt the entire world. Think of the aftermath from Lehman Brothers going under...and Lehman was a lot smaller than AIG.
    Last edited by Kandahar; 03-18-09 at 01:57 AM.
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    Re: US Treasury to reclaim AIG cash

    Imagine if you were due a bonus from a contractual agreement and the government stepped in, took over the company you worked for, called you a bunch of names and threatened to take your bonus away.

    On top of that imagine if the government knew all about the bonuses you were due and then feigned shock and surprise as if they were utterly flabbergasted.

    Jezus.

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    Re: US Treasury to reclaim AIG cash

    Quote Originally Posted by Kandahar View Post
    If they are nationalized, then all of the institutions to whom they owe money (including many banks already being propped up by the government or teetering on the brink of bankruptcy) would have those accounts receivable completely wiped out.

    This, in turn, would cause many of them to go belly-up (unless the government bailed THEM out again...but I assume you don't want that). Then all of the institutions to whom THEY owe money would have those accounts receivable completely wiped out. Wash, rinse, repeat.

    Our financial system is far too complex and interdependent to handle a major blow like this. If major institutions like AIG go under, it could very plausibly create a financial tsunami that could literally bankrupt the entire world.
    I agree, which makes the ludicrous stupidity of AIG's decision to behave so flagrantly all the more repulsive. They're literally risking the world's financial system because they can't imagine the possibility that they don't get piles of money.

    This is what needs to happen: send some black helicopters to land on these assholes lawns in the middle of the night, hood them, fly them to an undisclosed location and have a smoking man behind a bright light tell them that they'll be ****ING KILLED if they continue this ****.
    And why does your tone suggest that you do not care about children?

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    Re: US Treasury to reclaim AIG cash

    Quote Originally Posted by talloulou View Post
    Imagine if you were due a bonus from a contractual agreement and the government stepped in, took over the company you worked for, called you a bunch of names and threatened to take your bonus away.

    On top of that imagine if the government knew all about the bonuses you were due and then feigned shock and surprise as if they were utterly flabbergasted.

    Jezus.
    If the government HADN'T stepped in, AIG would have gone bankrupt and those employees most certainly wouldn't have gotten any bonuses at all. I'm sorry if protecting their bonuses are not my top concern.
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    Re: US Treasury to reclaim AIG cash

    Quote Originally Posted by new coup for you View Post
    I agree, which makes the ludicrous stupidity of AIG's decision to behave so flagrantly all the more repulsive. They're literally risking the world's financial system because they can't imagine the possibility that they don't get piles of money.

    This is what needs to happen: send some black helicopters to land on these assholes lawns in the middle of the night, hood them, fly them to an undisclosed location and have a smoking man behind a bright light tell them that they'll be ****ING KILLED if they continue this ****.
    Wasn't the onus on the government to stipulate "no bonuses" before agreeing to bail them out? Rather than act surprised and pretend to go nuts when the public caught wind of it?

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    Re: US Treasury to reclaim AIG cash

    AIG was doing great until the CEO was forced out by spitzer in 2005 to be replaced with Spitzer's friend. **** went downhill from there.
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