Obama Tells Treasury Chief to Block A.I.G. Bonuses

reply to post by pyrytyes


Now is pushing for taxation of the bonuses, because they see now the mistake they made.

Taxing the bonuses so they can keep revolving them like a big merry go around.

Morons and corrupted all of them.

reply to post by kosmicjack


Gehiner is nothing than a pet project put in place for the Bernanke to be use as fix.

Every time I see him in the news he look like a wet puppy that has not clue what he is suppose to be doing next.

Incompetence at is finest



[edit on 17-3-2009 by marg6043]

reply to post by St Udio


I visualize a dog chasing its own tail after reading your post.

It is surely a vicious, downward trending, cycle in which we find ourselves.

I have said elsewhere that our congressional idiots are paid to write the legislation filled with loopholes... which has got to stop. As someone else has said... there is not a law made that a loophole cannot be found.

Rep Peters (D-MI) has proposed legislation to retrieve the bonus monies through targeted tax legislation.

Can they also revoke the recent pay increase to congress? No, they do not want to do that... They (congress) have earned their "bonus"...NOT

The congressional pay increase is one third of my 2008 AGI 1040.
Go figure...

reply to post by marg6043


Yes, I agree. Government at its finest.

Now, how do I get such a job? Sorry, I'm not that corrupt that I would even try.

reply to post by St Udio


The most outrageous call to the sensitivity of tax payer that is not longer there for any of this corrupted entities to appeal on the sense of values and honor them.

Is not honor and not values when the AIG was running their scams, screwing their customers while gouging the tax payer with bail out money.

I say screw them.

reply to post by pyrytyes


That is the problems is not the congress idiots the ones that write the policies is the lobbyist geniuses the ones that do, the congress idiots just sign them in.

reply to post by marg6043


Thanks for the reminder. I guess I had a major breakdown in thought processes, and forgot for a second who actually runs the country.

Still the idiots sign them into being... makes them the target, as I do not know which lobby is responsible for which legislation. The rabbit hole not only goes deep, but is awfully "twisty-turny".

Originally posted by vor78
I suppose that if a few conditions had been placed upon these bailout funds, this wouldn't have been a problem in the first place.

Yep and if we had some decent regulations on the market and loan originating we REALLY wouldn't have been in this problem in the first place...

Originally posted by Iago18
Wow. I am frankly stunned at how angry people are about these bonuses.

If you understand the industry, the backbone of performance is based on bonuses. We are not talking about CEOs only here.

Obama needs to get his socialist nose and his trained poodle Geitner out of corporate America.
Sorry, I don't normally use such condemnatory terms, but, frankly, these people are either extremely foolish or actively destructive.

Give them the money, and let's move on.

Give the fat cats millions more you say? these are the guys that are living like they don't have "depression" in their vocabulary, while the rest of America loses jobs daily, are losing their houses because of it, and are out on their rears with their women and children in tow. You think that these top guys making millions ALREADY should get more? What warrants this "bonus"? The markets are bad afterall in case you fell asleep the last few months, trading is no where near as good as a six months ago and trading then was no where near as good as a year before that....What are you thinking?? More importantly what kind of ignorance supports the perpetuation of greed and corruption when innocent lives are paying the price for such selfish notions to continue to exist? You sir need a reality check

Rush Limbaugh thinks AIG SHOULD give out bonuses!

The Last Man Standing Speaks in Defense of AIG Bailout Bonuses

You aren't going to understand it, you're going to think I'm out of touch, lost touch, and all of that, but I'm laughing hysterically at all the hysteria this morning that I am seeing everywhere, including at Fox News, the hysteria over the AIG bailouts. Let me tell you something, folks. I am all for the AIG bailouts, and I am all for the AIG bonuses. Well, I'm not for the bailouts, well, in a way I'm for the bailout because I'm for the bonuses.

I'm for the bailouts for the bonuses?

Yeah, let's give out BILLIONS of dollars in bailouts so companies can give their employees MILLIONS of dollars in bonuses!

That has got to be one of the most asinine things I've ever heard!!!

reply to post by Keyhole


Rush is completely off his rocker now.


So he is saying, that he is for a bailout which pays bonuses to finance companies which underperformed and don't deserve the bonuses, yet he doesn't want a bailout for ANYTHING ELSE?

Someone, please, intervene because he is HIGH!!!!

mush loosebowels is a fool and he proves it every time he opens his big fat oxicontain addled mouth. Yet I am sure there are those true believers out there who will prove once again why they are called ditto heads will nod in approval.

We own 80% of AIG... time to invoke the anti-trust laws and break the sucker up.

reply to post by grover


Henry Paulson and Ben Bernanke are to blame for this. The Emergency Economic Stabilization Act is supposed to insure that AIG does not incur any excessive expenses at a cost to the taxpayer. They should also insure that executives at AIG do not receive any bonuses or benefits beyond the provisions in this act. This another reason Bloomberg most likely wont win it’s law suit demanding to know where the money went. Theyre breaking the law by not disclosing this and Timmy Geitner doesn’t want the info made public either. So much for the transparency issue.

He is only pandering, as what can he really do, lol. It is good tv to join the populist movement against these bonuses.

If he wants to he should really let aig go bankrupt, that would show society how its done, but he will not do that.

www.nytimes.com...

Mr. Cuomo did not name the bonus recipients, but the numbers are eye-popping, given A.I.G.’s fragile state. The highest bonus was $6.4 million, and six other employees received more than $4 million, according to Mr. Cuomo. Fifteen other people received bonuses of more than $2 million, and 51 people received bonuses between $1 million and $2 million, Mr. Cuomo said. 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.

The article goes on to say that the unit responsible for the credit default swaps created 73 new millionaires.

But hey, where was any regulation on them? If you leave your back door wide open, you can't get too mad when someone steals your stuff.

Larry Summers gave an interview today saying that the administration isn't ruling out other bailout packages in the future. Well, here's hoping they at least spend their bonuses in the U.S.

[edit on 17/3/2009 by kosmicjack]

reply to post by kosmicjack


I agree with this post. We need more oversight on where the bailout money went and how it is being used. If people would have known that Wells Fargo or Bank of America were on the list of the first bailout there shares would have plummeted. They claim this to be the reason it was kept secret. S&P would have downgraded them, most likely. They don’t release the information until after the damage is done. Some on here have blamed CNBC or Cramer. If we knew the truth it would set off bank runs and more panic. There should be no tolerance for bailout bonuses viable or not. I like your signature. Too big to fail is a good one!

I kinda like the image of the peasants storming Wall street and the AIG lair with torches and pitchforks in hand.

We haven't done that in a long time now and in my opinion its extremely overdue.

[edit on 17-3-2009 by grover]

reply to post by grover


I swear Grover that when the leaders we are looking for stand up and said enough is enough time for us the people to take back what is ours I will be there in the front with them.

I rather die for fighting for my rights than been killed when they are taking them away from me.

Even an ex CEO of AIG in an interview today said that AIG needs to fail and will fail even if the government doesn't do anything.

He probably knows what is going on with that corrupted company and perhaps this is a warning from him that is not over yet, and may be worst.

reply to post by kosmicjack


These people should be "encouraged" to give the money back. If they don't, can them. End of contract.

reply to post by Iago18


It's hard to understand how derivative traders at AIG are warranted any salary at all....let alone bonuses. In fact...they should be fined and jailed. The money should have stayed in the taxpayers hands.