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Thread: Executive Bonuses should not be paid with public money.

  1. #31
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    Re: Executive Bonuses should not be paid with public money.

    Quote Originally Posted by obvious Child View Post
    I earlier provided a link regarding this. I suggest you read it. It explains quite a bit about retention, why it's good and the division between the two branches in AIG. I see no need to copy paste. That said, the 'retention' bonuses paid to employees who left is absolute garbage as are any bonuses paid to the FPS branch employees.

    Yes I read that. while great in theory, do you have a link that shows this is how it went down? with a breakdows as to how much went to "fps" and former employees vs the insurance branch?




    What do you see happening with AIG, long term, btw?


    Perhaps, but these are scary times.

    debatable, and depending on the day of the week for Mr. President.


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  2. #32
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    Re: Executive Bonuses should not be paid with public money.

    Quote Originally Posted by Reverend_Hellh0und View Post
    Yes I read that. while great in theory, do you have a link that shows this is how it went down? with a breakdows as to how much went to "fps" and former employees vs the insurance branch?
    The breakdown is essentially what Congress is trying to subpoena. By getting the names of the bonus receivers we can see the actual breakdown. But given how small the FPS department is compared to the Insurance branch and the now known fact that bonuses were given to several thousand people, it seems highly likely that insurance employees received the retention bonuses.

    Here's a non-partisan explanation of AIG's CDS problem:

    AIG And The Trouble With 'Credit Default Swaps' : NPR
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  3. #33
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    Re: Executive Bonuses should not be paid with public money.

    Quote Originally Posted by obvious Child View Post
    The breakdown is essentially what Congress is trying to subpoena. By getting the names of the bonus receivers we can see the actual breakdown. But given how small the FPS department is compared to the Insurance branch and the now known fact that bonuses were given to several thousand people, it seems highly likely that insurance employees received the retention bonuses.

    Here's a non-partisan explanation of AIG's CDS problem:

    AIG And The Trouble With 'Credit Default Swaps' : NPR




    This is a different argument then. Most of the bailout bonuses went to other peoples, While you speculate it went to thier insurance branch, even if it did, it is a small portion of the pie, no?


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  4. #34
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    Re: Executive Bonuses should not be paid with public money.

    Perhaps they should not have written previsions in a bill (that no one read) that wrote in to law that said they could have the bonuses.

    If they wan t to not pay them, all they need to do is repeal the huge spending bill.

    Hard to write a bill that says one thing, and then when people get mad blame someone else.
    George W. Bush is a liberal.

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    Re: Executive Bonuses should not be paid with public money.

    Quote Originally Posted by Reverend_Hellh0und View Post
    This is a different argument then. Most of the bailout bonuses went to other peoples, While you speculate it went to their insurance branch, even if it did, it is a small portion of the pie, no?
    Incorrect. Statistically speaking, as at least a thousand people got retention bonuses and FPS is a percent of staff is on the minority side, it is highly likely that insurance employees got some bonuses.

    As for the piece of the bonus pie, we'll have to see just how it breaks down. That's what the subpoena is for.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Executive Bonuses should not be paid with public money.

    Quote Originally Posted by obvious Child View Post
    Incorrect. Statistically speaking, as at least a thousand people got retention bonuses and FPS is a percent of staff is on the minority side, it is highly likely that insurance employees got some bonuses.

    The insurance side got "some" of the bonuses? Sure, but by your information they are a small small portion of the total AIG, and therefore recieved a minute amount of the bonus money in total.

    No? Or am I misunderstanding you.


    As for the piece of the bonus pie, we'll have to see just how it breaks down. That's what the subpoena is for.


    I think the time for that was before they handed AIG my money. Dragging people through the mudd because Dodd on behalf of the Obama admin wrote in protection for these bonuses is as douche as the bonuses themselves.


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  7. #37
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    Re: Executive Bonuses should not be paid with public money.

    Quote Originally Posted by Reverend_Hellh0und View Post
    The insurance side got "some" of the bonuses? Sure, but by your information they are a small small portion of the total AIG, and therefore recieved a minute amount of the bonus money in total.

    No? Or am I misunderstanding you.
    Incorrect. I don't know for sure the break down of the firm between insurance and FPS, but given the size of the London office at somewhere between 20 and 30 people and the massive size of the insurance business, not to mention their breakdown in assets, the bulk of their people are in insurance.

    SEC Info - American International Group Inc - 10-K - For 12/31/06

    That's the 2006 10k before this mess really started to show on financials. Financial service operations are tiny compared to the total assets of the firm.
    Operating income is 524 in millions. Life insurance is 10,032 and general insurance is 10,412 both in millions. FPS is actually quite peanuts.

    It makes far more sense that many of the retention bonuses went to the insurance side as that is where most of AIG's money came from and most of where its staff likely are.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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