Unfortunately, there are two separate issues being intertwined. The bonuses have nothing to do with the bailouts. Many of us have railed against corporate executive pay for years, but that is shareholder perrogative. The bailout money is congressional perrogative and unconstitutional as well as unconscionable. Let's not blame the executives. Let's blame congress. And let your congress people know!
policy making to a big shift to the left???? what did he expect when a dem won the election more conservative policies??? depressing to hear such unitelligent thought from a senator
this so called "RETENTION BONUS" was thought up by another wall street crook & they obviously spread the word to their buddies how to get it..the video on youtube is called 'Corporate CEOs Caught Scheming on Tape'..this was in Feb 2009..they were taped making a calll..watch it
" .... Americans are starting to get a LITTLE BIT ALARMED... " !?! Americans are starting to get MAD! Keep writing your Congresspeople. And be sure to support and attend your nearest Tea Party.
I agree with Demint, unless we let these incompetent corporations go out of business, they are going to keep begging for more money. AIG has already been bailed out 3 times, no more bailouts!! Its going to be painful but its better to get it done and over with than prolong the crash.
LOL get it done and over???? what planet you live on??? if they fail any recession/depression we have will be greater in severity and longer in duration!
There are other insurance companies out there that will take over for the incompetent AIG. Instead of giving AIG money so they can continue to gamble with our taxpayer money on risky loans and paying out bonuses for their failure, lets use it to build schools or bridges or something of value. That will create jobs that have tangible worth instead of this fake derivative trading crap that wallstreet promotes.
look at what happened after the GOV let lehman bros go under...the effects on the global economy were substantial. Now imagine the largest insurance company in the US and one of the biggest in the world go under. What do you think would happen??? Lehman times 100! this would cause what is called catostrophic damage, and we would be on the brink of the capitalist system failing.
now while I am all for building bridges, I am more for not having to become the road warrior incarnate!!
I don't think we should let the companies go under, but they should be willing to make some cutbacks on these bonuses and extravagent vacations that exec's take. Once things stabilize AIG should be broken up into smaller companies so we don't have to worry about it being "too big to fail".
Unfortunately, there are two separate issues being intertwined. The bonuses have nothing to do with the bailouts. Many of us have railed against corporate executive pay for years, but that is shareholder perrogative. The bailout money is congressional perrogative and unconstitutional as well as unconscionable. Let's not blame the executives. Let's blame congress. And let your congress people know!
x37green 3 years ago
policy making to a big shift to the left???? what did he expect when a dem won the election more conservative policies??? depressing to hear such unitelligent thought from a senator
RusselBertrand 3 years ago
This guy is a moron...totally dodges question on too big to fail, "that means their to big" no shit that does not address the underlying problem!
RusselBertrand 3 years ago
have any of you ever played dominos???
RusselBertrand 3 years ago
AIG is just doomed to fail... They still have trillions of CDS due to be paid...
How will the pay it if they dont get even more bailout money ?
The Govt must stop this insanity.
Melpheos1er 3 years ago
this so called "RETENTION BONUS" was thought up by another wall street crook & they obviously spread the word to their buddies how to get it..the video on youtube is called 'Corporate CEOs Caught Scheming on Tape'..this was in Feb 2009..they were taped making a calll..watch it
xianglee1 3 years ago
" .... Americans are starting to get a LITTLE BIT ALARMED... " !?! Americans are starting to get MAD! Keep writing your Congresspeople. And be sure to support and attend your nearest Tea Party.
x37green 3 years ago
We would all be better off if the congress and president took a 1 year furlough!!
bamagirl369 3 years ago
I agree with Demint, unless we let these incompetent corporations go out of business, they are going to keep begging for more money. AIG has already been bailed out 3 times, no more bailouts!! Its going to be painful but its better to get it done and over with than prolong the crash.
jado818 3 years ago
yep.
aj2kewl 3 years ago
LOL get it done and over???? what planet you live on??? if they fail any recession/depression we have will be greater in severity and longer in duration!
RusselBertrand 3 years ago
There are other insurance companies out there that will take over for the incompetent AIG. Instead of giving AIG money so they can continue to gamble with our taxpayer money on risky loans and paying out bonuses for their failure, lets use it to build schools or bridges or something of value. That will create jobs that have tangible worth instead of this fake derivative trading crap that wallstreet promotes.
jado818 3 years ago
look at what happened after the GOV let lehman bros go under...the effects on the global economy were substantial. Now imagine the largest insurance company in the US and one of the biggest in the world go under. What do you think would happen??? Lehman times 100! this would cause what is called catostrophic damage, and we would be on the brink of the capitalist system failing.
now while I am all for building bridges, I am more for not having to become the road warrior incarnate!!
RusselBertrand 3 years ago
I don't think we should let the companies go under, but they should be willing to make some cutbacks on these bonuses and extravagent vacations that exec's take. Once things stabilize AIG should be broken up into smaller companies so we don't have to worry about it being "too big to fail".
jado818 3 years ago