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Thread: I was responsible for bonus loophole, says Dodd

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    Re: I was responsible for bonus loophole, says Dodd

    Quote Originally Posted by RightinNYC View Post
    In this case, yes. I think the "bonuses" are obligations that should be met. I'm tired of the ridiculous demonization of anyone involved with financial institutions.
    Hmmm... seems like demonization of the division of AIG that ran it into the ground to me.

    Since 80 some-odd Pub's voted for that retroactive tax, I will point out this "demonization" and "pandering" isn't party specific.

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    Re: I was responsible for bonus loophole, says Dodd

    Quote Originally Posted by RightinNYC View Post
    Dodd's coziness with the banking industry has been known for years.



    In this case, yes. I think the "bonuses" are obligations that should be met. I'm tired of the ridiculous demonization of anyone involved with financial institutions.
    I couldn't agree with you more

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    Re: I was responsible for bonus loophole, says Dodd

    Quote Originally Posted by zimmer View Post
    There are lots of Dodds in the Democrat Party.

    We on the other side will help familiarize you with them.
    It's not just the financial institutions. It's those "evil executives" which go hand-in-hand with those "evil corporations." Burn the witches!

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    Re: I was responsible for bonus loophole, says Dodd

    I have no objection to the bonus being paid.
    I have every objection that people who bring a company down are subsequently rewarded for having done that.

    These two statements appear to be at odds.
    However, AIG were contractually obliged to pay what are called 'Retention Bonus' to certain members of their staff.
    Had AIG refused or declined to pay this Bonus, those persons who were legally entitled to the Bonus would likely have taken AIG to court.

    They would have won.
    AIG would have been ordered by the Court to pay the Bonus, but AIG would have also been saddled with the costs of the Court case, they would have had to pay interest on the amount of the Bonus, from the time it was due to be paid up to the time that the persons to whom it had to be paid were paid.
    I am not entirely certain that in addition AIG may have been compelled to pay a 'Fine'.
    The additional burden on AIG Bail out money would have been substantial.

    I am as aware as a few people on these blogs that the majority of politicians in the US are liars and basically scumbags, but you get what you vote for.

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    Re: I was responsible for bonus loophole, says Dodd

    Quote Originally Posted by cascadian View Post
    Hmmm... seems like demonization of the division of AIG that ran it into the ground to me.
    While some may target their criticism toward specific areas (see Obama's recent statement on the matter), the vast majority of people complaining about this are just bitching about "the crooks" etc. They wouldn't know a CDO from a CD, yet they feel qualified to declare everyone on "wall street" a criminal.


    Since 80 some-odd Pub's voted for that retroactive tax, I will point out this "demonization" and "pandering" isn't party specific.
    I didn't say it was. Plenty of Republicans are always up for some populist bull****. They're idiots too.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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