AIG Paying $165 Million in Bonuses

[petertribo]

Re: AIG Paying $165 Million in Bonuses

The bonuses are a distraction from the ongoing Crime Wave. Have AIG pay bonuses, public screams, do something about bonuses (nothing else of course), if necessary maybe even take some $$$ back or fire some shmuck. Meanwhile everyone is distracted and the looting can continue.

Obama goes after AIG BONUSES while all the other Corp Perps are ignored. Classic DC diversion.

To understand this, you must understand how DC, spin and media manipulation work. For starters, these Crime Wavers are measuring public reaction by the day and, as we all can see, they are not very concerned about it. They are becoming bolder and bolder with the Looting and even proposing new Legislation and accounting rules changes to make Looting even easier. Probably cooking up some really outrageous stuff with G20 and/or IMF.

Proof of the above, is an absolute lack of prosecutions and not even mention of them. I am very worried that there is not even the usual Congressional or other Maverick out screaming for Prosecutions. Indicates to me there is severe Intimidation. Nothing from any State officials either.

[Shakespear]

Re: AIG Paying $165 Million in Bonuses

A good article of this situation in SALON mag.

The Sanctity of AIG's Contracts

by Glenn Greenwald

http://www.commondreams.org/view/2009/03/16-6

[cjppjc]

Re: AIG Paying $165 Million in Bonuses

The hue and cry is getting louder and louder. These bonuses will not get paid. Book it.

[cjppjc]

Re: AIG Paying $165 Million in Bonuses

Holy smoke. Sen. Charles Grassley said they should commit suicide. :eek:

[due_indigence]

This AIG bonus thing, while perhaps quantitatively immaterial, is symbolically explosive. Obama better come out swinging. His presidency hangs in the balance. Geithner may hang for no 'claw-back' provisions. He's toast anyway, thus a convenient altar to sacrifice him on.

AIG Financial Products managers are not Americans. They are internationalists, a dupe-organization for the banksters. This kabuki dance around legalisms is crap. Without a bail-out the employment contracts would be a formality anyway. Here's a quaintism: what about the patriotic duty of these folks? When push comes to shove will an internationalist salute the old stars n' stripes? Yes quaint, I know.

[Prazak]

Re: AIG Paying $165 Million in Bonuses

Of all the schmucks out there, Elliott Spitzer may be the one guy who has the right analysis and set of questions ready-made for an inquiry. Now if someone on the Hill will pick these up and run.

http://www.slate.com/id/2213942/

[Shakespear]

Re: AIG Paying $165 Million in Bonuses

I watched Elliott Spitzer resign while waiting for a connecting flight. The wait was long and the constant drown of the CNN coverage was irritating. The more I listened the more I was suspicious of what was going on.

Now to find out that the charges were dropped convinces me that he knew what was going on and was ready to go after these Wall Street crooks, hence needed to be taken off the stage. :mad:

[cjppjc]

Re: AIG Paying $165 Million in Bonuses

Holy smoke. Charlie Rangel proposes bill to use the rack for AIG bonus babies.

Btw: Are these performance (I use the word loosely) or retension bonuses?

[Slimprofits]

Re: AIG Paying $165 Million in Bonuses

retention. I like this post on tickerforum:

If you are one of these employees, and you are going to hold the US tax payer hostage for a retention bonus to stay at a so-called mission critical job, at a company that shouldn't even exist anymore were it not for my tax dollars, you are a traitorous son of a bitch.

If you would ask me to my face I would gladly have your ass kicked out on the pavement for pulling that crap even if it cost me more tax dollars to hire someone new, who would sc**** and claw to do the job as best they can and be glad to have the job to feed their family.

This is what the murderous sons of bitches in financial service industry can't comprehend, it is the principle of the thing, not the end cost. The bonus are a drop in the bucket compared to whats already been spent, every damn person in the whole country already gets that, except these dumb ****s, who are theives.

[GRG55]

Re: AIG Paying $165 Million in Bonuses

I watched Elliott Spitzer resign while waiting for a connecting flight. The wait was long and the constant drown of the CNN coverage was irritating. The more I listened the more I was suspicious of what was going on.

Now to find out that the charges were dropped convinces me that he knew what was going on and was ready to go after these Wall Street crooks, hence needed to be taken off the stage. :mad:

Judging by the ridiculously meek way the Treasury Dept has been handling this, ya think Timmy got the message? :p

[GRG55]

Getting More Bizarre By The Day...

There's
some potential that maybe this one won't "go away"...

I almost put this one under "You Can't Make This Stuff Up"...

AIG Plans Retention Pay for Staff Facing Dismissal

March 17 (Bloomberg) -- American International Group Inc., the insurer under fire for handing out bonuses after its $173 billion government bailout, budgeted $57 million in “retention” pay for employees who will be dismissed...

[GRG55]

Re: Getting More Bizarre By The Day...

I almost put this one under "You Can't Make This Stuff Up"...

AIG Plans Retention Pay for Staff Facing Dismissal

March 17 (Bloomberg) -- American International Group Inc., the insurer under fire for handing out bonuses after its $173 billion government bailout, budgeted $57 million in “retention” pay for employees who will be dismissed...

Actually it looks like you really can't make this stuff up...:eek:

Cuomo Details Million-Dollar Bonuses at A.I.G.

...Eleven of those who received “retention” bonuses of $1 million or more are no longer working at A.I.G., including one who received $4.6 million, he said...

[cjppjc]

Re: AIG Paying $165 Million in Bonuses

This just in. Chris Dodd says "Of course we are grand standing. History will see this as our finest moment."


Btw: I'm finally going to get an answer to my question, Because here come the show trials.

[thedanimal]

Re: AIG Paying $165 Million in Bonuses

US taxpayers are on course to recoup about half of the controversial $165m of bonuses paid by AIG, the stricken insurance giant being kept alive by federal aid, after some of the largest recipients agreed to return the money, New York attorney-general Andrew Cuomo said on Monday.

Mr Cuomo said 15 of the top 20 bonus recipients had agreed to return their bonuses in full, amounting to more than $30m. “I think it will be possible to recoup approximately $80m,” he said, adding that he would continue to work with both AIG executives and individual employees to recoup the funds.

[..]

The recipients who will return the bonuses are believed to include senior executives of the financial products unit, such as Douglas Poling, whose $6.4m bonus was the biggest single award, Jim Haas and Jon Liebergall.

US employees received about 47 per cent of the $165m, and Mr Cuomo said he is intending to recoup that amount.

Cuomo set to recoup half AIG bonuses

[pwcmba]

Re: AIG Paying $165 Million in Bonuses

I have an idea for a bill (this will NEVER happen)-

All firms taking TARP funds are barred from all lobbying of congress until ALL TARP funds are repaid.