Savage Beatings Posted March 18, 2009 Share Posted March 18, 2009 I keep hearing that people are outraged that AIG paid contractually obligated retention bonuses totaling $165 Million to approximately 70 executives. Are you one of the people who is outraged by this? Quote Link to comment Share on other sites More sharing options...
Shorttynaz Posted March 18, 2009 Share Posted March 18, 2009 I keep hearing that people are outraged that AIG paid contractually obligated retention bonuses totaling $165 Million to approximately 70 executives. Are you one of the people who is outraged by this? Unfortunately I have stock in AIG. Not that it's worth ANYTHING anymore, but yes - hearing that the company's high executives took the governments bailout money and had a field day with it isn't exactly what the shareholders want to hear.. Quote Link to comment Share on other sites More sharing options...
Ramhock Posted March 18, 2009 Share Posted March 18, 2009 If they weren't bailed out, those contracts would have went to court & been renegotiated much lower. CNBC said something to that effect, anyway. Quote Link to comment Share on other sites More sharing options...
Cunning Runt Posted March 18, 2009 Share Posted March 18, 2009 Ya - I'm outraged. It offends the sensibilities big time. And not so much at AIG the entity as I am by the individuals being awarded the bonuses who feel they're entitled to them given everything that's happened. Do they not realize how many people have lost their jobs, in large part due to their role in all this? That kind of insulated perspective is offensive to me for sure. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted March 18, 2009 Share Posted March 18, 2009 meh. I am probably more outraged by the fake outrage of the d00sh hypocrite politicians trying to use it to score political points. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted March 18, 2009 Share Posted March 18, 2009 I keep hearing that people are outraged that AIG paid contractually obligated retention bonuses totaling $165 Million to approximately 70 executives. Are you one of the people who is outraged by this? I still think one in ten of these people should be publicly executed for their gross incompetence but I'm not outraged at the payment of these particular bonuses by AIG since they were contractual obligations. If they were not contractually obligated, I'd be calling for the public flogging of all of the recipients and the approvers too. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 18, 2009 Share Posted March 18, 2009 I still think one in ten of these people should be publicly executed for their gross incompetence but I'm not outraged at the payment of these particular bonuses by AIG since they were contractual obligations. If they were not contractually obligated, I'd be calling for the public flogging of all of the recipients and the approvers too. +1 for the most part. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted March 18, 2009 Share Posted March 18, 2009 meh. I am probably more outraged by the fake outrage of the d00sh hypocrite politicians trying to use it to score political points. +1. The Bush administration made the same mistake last fall. Why did the Obama administration turn around and do the same dang thing? Dodd should be one of those hung. He's trying to cover his tracks now, but he's neck deep in allowing these bonuses. He's also the single largest beneficiary of donations from AIG. What a coincidence!!! Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 18, 2009 Share Posted March 18, 2009 +1. The Bush administration made the same mistake last fall. Why did the Obama administration turn around and do the same dang thing? Dodd should be one of those hung. He's trying to cover his tracks now, but he's neck deep in allowing these bonuses. He's also the single largest beneficiary of donations from AIG. What a coincidence!!! Wasn't Dodd the only person in the last 10 years to receive more money from Freddie and Fannie than Obama? Quote Link to comment Share on other sites More sharing options...
yo mama Posted March 18, 2009 Share Posted March 18, 2009 I'm not outraged at the payment of bonuses, in general: if the employees generate more revenue for AIG than their overall compensation, then its a good deal for AIG and its shareholders. But I am outraged about the use of taxpayer bailout money to pay bonuses AIG couldn't otherwise afford to pay. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 18, 2009 Share Posted March 18, 2009 A lot of those that recieved retention payments are now giving them back. What is the likelihood that congress starts giving back earmarks? Quote Link to comment Share on other sites More sharing options...
yo mama Posted March 18, 2009 Share Posted March 18, 2009 A lot of those that recieved retention payments are now giving them back. What is the likelihood that congress starts giving back earmarks? somewhere between zero and zero. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 19, 2009 Author Share Posted March 19, 2009 I am OUTRAGED that Congress wants names of individuals that have not returned the bonuses. That is outrageously offensive. Is this a return to Macarthy years? Liddy (is that his name?) even pleaded with them to keep their names confidential because people are receiving death threats (even family members) but still Frank pretty much told him to F off and cough up the names. Wow. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted March 19, 2009 Share Posted March 19, 2009 This is absurd! If I got my bonus from AIG, I'd leave the country with my family and email a resignation. I'd be there at the airport to wave you off. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted March 19, 2009 Share Posted March 19, 2009 I'd be there at the airport to wave you off with a Stinger. Fixed. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted March 19, 2009 Share Posted March 19, 2009 Fixed. Only if he'd drawn the one short straw in ten. Quote Link to comment Share on other sites More sharing options...
cre8tiff Posted March 19, 2009 Share Posted March 19, 2009 (edited) This is pretty refreshing: "We didn't draft these contracts. We've got a lot on our plate. But it is appropriate when you're in charge to make sure stuff doesn't happen like this," Obama told a town hall meeting in Costa Mesa, California. "So we're going to do everything that we can to fix it." ... "For everybody in Washington who is busy scrambling trying to figure out how to blame somebody else, just go ahead and talk to me, because it's my job to make sure that we fix these messes even if I don't make them," Obama said. "But what's just as important is that we make sure we don't find ourselves in this situation again, where taxpayers are on the hook for losses in bad times, and the wealth generated in good times goes to those who are at the very top of the income ladder. ... So I'm absolutely committed to ensuring we have the tools we need to prevent the kinds of abuses that sent AIG spiraling. Imagine that, a President that takes responsibility... Edited March 19, 2009 by cre8tiff Quote Link to comment Share on other sites More sharing options...
Cunning Runt Posted March 19, 2009 Share Posted March 19, 2009 I am OUTRAGED that Congress wants names of individuals that have not returned the bonuses. That is outrageously offensive. Is this a return to Macarthy years? Seriously? Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted March 19, 2009 Share Posted March 19, 2009 I'd be there at the airport to wave you off. yup i say to them "get out and go to Cayman were your money is anyway!! " Quote Link to comment Share on other sites More sharing options...
Cunning Runt Posted March 19, 2009 Share Posted March 19, 2009 I should clarify and say that it's outrageous that Congress will not guarantee, on pain of death, to keep the names secret. The CEO of AIG said he'd release the names, if they could guarantee it and Barney Frank didn't even flinch when he said he could not. Still, I don't see how it's any individual's fault for accepting the bonus stated in their contract. The person responsible is the one who authorized the contracts and language that allows such bonuses when the company is losing money or goals aren't properly met. You and I disagree then, 'cause I think it's these very people who have a moral responsibility to NOT take those bonuses - contract or no contract. And if they do, I do think the american public should have a right to know who they are. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted March 19, 2009 Share Posted March 19, 2009 You and I disagree then, 'cause I think it's these very people who have a moral responsibility to NOT take those bonuses - contract or no contract. And if they do, I do think the american public should have a right to know who they are. But the American public doesn't golf at the same locals. Quote Link to comment Share on other sites More sharing options...
polksalet Posted March 19, 2009 Share Posted March 19, 2009 Osama steals a trillion from the taxpayers and people are worried about 165 mill. HAHAHAHA Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted March 19, 2009 Share Posted March 19, 2009 Osama steals a trillion from the taxpayers and people are worried about 165 mill. HAHAHAHA Did you know that history began in late January 2009? There are no records that anything ever happened before then. Very odd. Quote Link to comment Share on other sites More sharing options...
polksalet Posted March 19, 2009 Share Posted March 19, 2009 Did you know that history began in late January 2009?There are no records that anything ever happened before then. Very odd. Check out Pol Pot, year 1. Quote Link to comment Share on other sites More sharing options...
Jackass Posted March 19, 2009 Share Posted March 19, 2009 I'm not outraged at the payment of bonuses, in general: if the employees generate more revenue for AIG than their overall compensation, then its a good deal for AIG and its shareholders. Doesn't it matter how that revenue was generated? The stock is nearly worthless. How is that a good deal for AIG and/or its shareholders? Quote Link to comment Share on other sites More sharing options...
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