The Case for Paying Out Bonuses at A.I.G. »
Posted By Wolfie2007 8 months, 2 weeks ago in Business & FinanceIt sure does sting. A staggering $165 million — for employees of a company that nearly took down the financial system. And heck, we, the taxpayers, own nearly 80 percent of A.I.G.
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Wolfie20078 months, 2 weeks ago
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The bonus being paid by AIG aren't news to Obama or Congress despite the outrage. These bonuses were a part of the original deal and it was know by Obama and Congress. The uproar now is the public just found out these bonuses and Obama, etal. are playing dumb to take the focus off themselves.
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These are retention bonuses which means the people who get these bonuses were supposed to be lay off but AIG felt they were need and agreed to pay them these bonuses to keep them longer. Btw, the folks who want these people fired from AIG are getting their wish they were layed off last year. -
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nostalgia8 months, 2 weeks ago
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And look at who protected these bonuses!
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Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In
While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.
Also, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.
Dodd’s office did not immediately return a request for comment.
One of AIG Financial Products’ largest offices is based in Connecticut.
http://www.foxbusiness.com/story/markets/industrie...
Imagine that! Dodd protecting AIG! And Obama signing the protection into law
And here I thought that only the right protected "business"
AIG is under Federal protection alright - Dodd and Obama
When did Dodd and Obama know about these bonuses. Seems Dodd knew when the stimulus bill was going through the Senate -
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RedRiverJ8 months, 2 weeks ago
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"Obviously, maybe they ought to be removed," said Sen. Charles Grassley during an Iowa City radio interview on Monday. "But I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide."
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I agree. -
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pc258 months, 2 weeks ago
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let the government go after AIG and all the others and let the government tell them what they can and can not do with the money. It seems that all of a sudden the realities of having the government as your business partner is starting to hit home. This country was built on capitalism not socialism. The companies are starting to find out they don't like it. Why even a couple of weeks ago Whoppi Goldberg was starting to whine about tax increases. Obama, his socialist policies and his socialist followers will wear their welcome out fast enough.
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nostalgia8 months, 2 weeks ago
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I'm beginning to wonder about this entire fiasco
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Many Senators - including Dodd who protected the AIG bonuses - are now calling for the bonus money to be taxed at 95% and even 100%
Sounds a little too convenient to me
1. Many of the employees in the London office who created the derivatives and caused the collapse of AIG are getting bonuses. Many of them are not even US citizens. AIG has offices all over the world which include many who are not US citizens. How do you tax them?
2. Is it legal to target one group of people with the tax code like this? I don't have the answer to that
3. If this tax scheme succeeds won't that set a dangerous precedent? What will prevent Congress in the future from targeting any salary, bonus etc they deem excessive?
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Painesright8 months, 2 weeks ago
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Give me a break...
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Obama's "outrage" is hypocrisy defined.
Obama received $101,332 in political contributions from AIG.
Only his partner-in-crime, Chris Dodd, received more.
http://www.examiner.com/x-268-Right-Side-Politics-...
Are any of Obamessiah's die-hard disciples going to be outraged about that?
Doubt it. -
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k9kssr8 months, 2 weeks ago
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They went after and grilled the auto exec's on their salaries, bonuses, even jets, etc BEFORE even considering to give them bailout money. WHAT......they couldn't do the same with the banks? Why one, but not the other? And then the Obama admin pretends NOT to know of the AIG bonuses until just a couple of days ago.....roflmao.
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