The AIG Bonus Solution: Fire the Financial Products People Who Got Us Into This
Reader Comments
tax payers and AIG bailout
AIG's clossal mismanagement and prodigal spending culminated in the total breakdown of its finasncial empire. One thing american people should rememer.If tax payers agreed to save this financial giant from total collapse the same taxpayers have a moral and legal obgligation to stop futher misuse and abuse of the bailout money by the AIG financial Cheaters. Unlees and until people cannot exercise this basic democratic right why we need a Govermrnt? Every legal process enacted by any legislature in the world should bear in mind that the laws are written and passed are for the common benefits of people at large, not for a few Crooks who manipulate the leagal system for their own selfish and personal gains. President Obama and his entire CABINET and all the SENATORS and CONGRESSMEN should rise to the occasion and save this great Nation from the greedy clutches of these wicked people.
The AIG scam
freeze their assets and force them to go to court and plead their case...
Oooh I'm scared!
Here's a link to AIG's contact page
Everyone should direct their feedback directly to AIG.
https://securecontent.aig.com/contact-aig_20_19050.html
Personally, I say if you can't make your business work then... hello... that's called free enterprise... there are always risks in running a business.
Too big to fail? Are you kidding me?
We should let them fail.
Why do we fall for this fear tactic?
Anybody remember Y2K?
aig bonuses
The American People should get in an uproar about this company AIG and their bonuses,write to your congressman or lets PROTEST to the highest, AIG dosen't get it yet they take government money because they are doing BAD and then rewards the charactors that put them in that condition. Lets Stop Them Right Now.
Fire Them and Charge Them under RICO
THese AIG Folks operated a Ponzi scheme and should be prosecuted under RICO. They should not be paid bonuses - their contracts must state a minimum standard of fiduciary requirements and standard of care or diligence obviously they failed in this regard.
Someone put up a good point
AIG argues thta they ned to pay off their employees for retainment. But in the article below, this guy points out that AIG setup those contracts in My 2008 well before the bailout. Retainment is used to keep people in event of company fallout. Why would they setup something like that PRIOR to their eventual failure?
http://www.kerryonworld.com/business/aig-outrage
Makes you wonder.
Our National Past-time - Do as in baseball!
Lamenting on our economic woes has become our national past-time and everyone is waiting for some heavy hitters to slam a few out of the ball park to restore confidence in Team America! If hitters go flat or pitchers lose their touch in the baseball world - they're fired! If the coach sucks, he's fired! Right now the new coach seems to be off to a great start - but can he get his team up to speed so they can start slamming some homers to restore confidence? Only time will tell - but we're fast running out of time as the this season could end without spring training. Fire all of those decision-makers whose greed, bad judgement and possible fraud got AIG into such a mess. Don't pay them any bonuses - tie them up in the court system and let them hire attorneys to justify payment of their bonuses from federal bail out moneys that have capped other CEOs with their hands out at half a million and NO BONUSES. Make a few heads roll - make examples to the rest to restore public confidence that our government will not allow business as usual and its agencies will be public watchdogs and to lap dogs to special interests and the wealthy.
Fed-up Taxpayer of IL is right on target.
Let's be honest here: not an employment contract exists in the USA that cannot be broken. (we saw how well that ploy worked for the UAW). Time to fire these people, "for cause" or not.
Fed-up Taxpayer of IL is so squarely on the money that I don't feel the need to comment much further, other than to reiterate the options s/he suggested: (1) Terminate them; (3) Force AIG into bankruptcy, thus voiding the contracts; or (3) Nationalize AIG and do it that way.
In an ideal world, of course, the employees "entitled" (quotes emphasized; sarcasm intended) to these bonuses would voluntarily opt to forego them and distribute the money in person to the folks living in tents out in Sacramento and elsewhere...
AIG's downfall threatens the rest of us?
The author simply accepts at face value the assertion that AIG's downfall threatens the rest of us.
How about a little dose of skepticism here? The people repeating this mantra ( Paulson, Geithner, etc.) just happen to be part of the same elite subculture of top investment banking people who stand to benefit most from the bailout.
Shouldn't there be some minimal acceptable standard of proof here, given the stakes, other than "Trust us - we are smarter than you - the sky is falling".
Get the Daily show to go after AIG
Where is the Daily show when we really need them? Accusing Cramer of causing all our financial problems.
Obama and his fellow idiots from Harvard want to spend their waking hours complaing about Bush, but they have palms up to go after all the banker money for campaigns and coronations while selling our grandchildren down the toilet.
Obama made fun of McCain when McCains said fire the head of Treasury last year. Now a year later Obama and his tax cheat Treasurer can figure out how to legally give 100 billion to AIG, but they claim they cannot figure out legally keep the tax payer money from personally benefiting their friends at AIG, Goldman Shit, etc. And, it just so happens Obama, Dodd, Pelosi, Frank etc received all those campaign and coronation bucks from the same bankers.
So, we get more of the Daily show with the their legs tingling with thoughts of Obama while blindsiding and insulting Cramer as Obama and his pals are robbing the country.
