Anger, Questions in Washington Over AIG Bonuses

[Brophan1ty]

Screwballs..... They know what thery doing. Theyr screwing us over and they like it.

[jmorengo2000]

i cant believe these fat greedy bastards are getting bonuses!? how is this even possible being that they were bailed-out? if it were up to me i'd have ALL of them executed...

[lthom33]

The news was covering bank failures this morning. Bush bailed them out without any transparency, without any accountability, or any questions. Now they're back to doing the same thing! They will be looking for more bailouts. It' those responsible for allowing them to get away with this that should be executed. I say LET THEM GO DOWN -they are private companies.

[aimsux3214]

End the Fed

[guatay]

As a project, the stimulus is a joke. The triple constraints of a project are scope, time, & cost (quality has also been added, goes in the middle of the triangle). Together w/the 3 constraints, the 5 phases of a project are initiation, planning, execution, managing, close out. The issue of the bonuses shoulda been resolved in the planning stage & been either included/excluded in the scope. Obviously the poor project management of top gov officials reigns supreme in the stimulus circus. Shame!

[molloyx]

The Republicans are intent on bringing us, ala the Camodian communist genocidal megalomaniac Pol Pot, to Year Zero, circa 1/21/09. They want the electorate to erase from their memories 8 years of Bush/Republican misrule, and especially the feckless, asleep at the wheel disinterest in regulating corporate greed and malefeasance. Their core belief in unregulated markets has finally been exposed and their party has been marginalized. All that remains is the stink of desperation.

[lthom33]

I agree with you 100%. It's great to see someone actually knowing what they're talking about. On top of everything else Bush has us in a $10Tn national debt & $1.7Tn deficit. Most of this money has been borrowed from China (Japan & Spain to name a few). This truly worries me because we've never done this before. I mean we owe China $1Tn & this makes us very vulnerable to them. Not a good place to be with trade & security. I wonder how many Americans know this.

[zackgonnasurvivenwo]

and NObama is doing better?? the spending is horrible.

[lthom33]

Unfortunately, President Obama has no choice but to be the unfavorable spender. However it's a stimulus to help the middle-class not the wealthy. Read what the Republicans had in mind, which would have totally destroyed the country with little hope of recovery for many years to come.

[harmonymathews101]

that is scary ,,,,,,,,,,,what if they try to make it a communist country like theres ,,,1 child per family law ,,strict limitations ,,and concentration camps,,well we already got the camps ,,were soon close to being a communist country ,when they impose martial law,its over say goodbye to your rights..

[lthom33]

If it were up to Republicans we would have not rights -that' just the truth of it. China has been buying up all our bonds -thanks to Bush. He was going to sell 6 of our major seaports, a military base, an airline & something else-can't remember what to Dubai. Two of the 9/11 terrorists were from Dubai. Think how vulnerable our ports would have been to sneak a missile in -or more airline attacks. Bush did not even read the agreement. He was stopped by the media via Americans

[bikersrule07]

The bigger question I have that has has me, over this bonus deal, is what is why is the news and goverment making such a big deal out of this, what has the USA goverment done, or is it useing this as a diversion tatic .... what are they trying to hide

[lthom33]

AIG knew it was going under in '08 & that the gov would not allow that to happen. So the very people who ran AIG into the ground due to greed & unethical behavior gave themselves multi-million dollar bonuses via contract. Bush signed a $840B bailout & gave AIG $85B -the bonuses came out of that money. 2 wks later Execs from AIG stayed @ a luxury resort for $565 a night. AIG also spent $440k on a party.

[lthom33]

To cont. this happened on Bush's watch & Paulson (ex-CEO of Gordon Sachs) should have made sure these bonuses were not included in that money but he did not. AIG is an insurance company who insured all these banks that collapsed, etc -we had no choice but to bail them out. Obama gives an addit'l $30B (AIG requested more $) around 3/20 & a week later the news of the bonuses leak. Obama admin didn't know but the timing is a political attempt to show incompetence.

[lthom33]

The President addressed the issue last night & wasn't very happy -who can blame him? He made it clear that this happened before he was elected president. He wasn't aware of the bonuses & when he found out, he tried to find a legal way to get that money back. Repubs are trying to blame him for this which isn't logical when you look @ the time frame. It's a great injustice to blame the president, because then those who are responsible walk away w/no stigma of what they've done.

[molloyx]

In Americas short attention span theater even relatively recent catastrophes such as the Enron debacle are forgotten with ease. Forgotten are the rolling black-outs in California, perpetrated by Enron traders and gouged electricity users to the tune of 30 billion. Forgotten is the complicity, in a separate venture, of many of the same investment banks that have recently been bailed out. Forgotten is the extremely close connection between Ken Lay and the Bush clan. History can be a bitch.

[lthom33]

I remember it. Wasn't Phil Gramm & his wife up to their cologne armpits in that mess as well? Then there's Haliburton. In one of their many sweetheart deals from Cheney they took our money but hired Iraqis to do the electrical wiring for cheaper wages. 12 US troops were electrocuted while taking showers. We could go back & forth all day & night with this.

[pig5689]

What the H? If I mention one word of outrage over this bonus devilry Im bombed with hate replies calling me stupid, while trying to spew a defense of the AIG executives as wicked-smart hard workers who earned the bonuses fair & square & so what. One clown actually said hed rather suck-off each one of the execs than see any of them be forced to give any bonus money back. There doesnt seem to be any respect for anyone other than those who lie & steal while living off the brow sweat of others.

[lthom33]

The problem is these were not "fair & square" bonuses. The very people who are receiving the $165M are the ones who drove AIG into the ground. Think about it -we wouldn't be bailing them out if it were different right? These contracts were made in '08 with the full knowledge @ that time the company was going under & a bail out would be forthcoming. They were just ensuring their own comfortable retirement.

[pig5689]

I agree. It's sickening so many imbeciles are trying to explain this away with the excuse, "the rich & successful worked hard to get where they're at, & they deserve the bonuses." Bullshit. Like you say, these bonus-whores are the same ones who wrecked thier own companies & also destroyed millions of families at the same time. There is no shame, no compassion, no humility left in them. All they can see is dollar signs while groveling & slobbering like mongrel dogs over a bitch in heat.

[lthom33]

It can't be explained away nor excused. They gambled away trillions in company equity & assets using financial gimmicks called credit default swaps. These are risky get-rich stunts that they marketed to investors, the U.S. gov & their own bosses as 'products.' When AIG ended up on the losing end of all those gimmicks, having brought down the entire AIG corp in the process, the result was a mount of outstanding counter-party payments owed to other gamblers. This is what happens w/no oversight

[lthom33]

pig5689: This is what happened & continue to keep it real. This happened on Bush' watch because there was no federal oversight on these private financial institutions. The reason they were able to use credit default swaps. Clinton did pass the Bill as he was leaving office but I'm sure he thought that Bush would place rules & regulations on the Bill -they did NOT! Now, Obama has inherited the mess & has no choice but to sink money into these corps in order to prevent Americans from drowning.

[im4wur]

Some call these "bailouts". However, bearing in mind that the new economic model we seem to be adopting is one where we privatize profit and socialize loss. I'm begining to call them: "Heads I win. Tails you lose, America".

This country is sick with GREED! At this point the only question is whether it's terminal.

[lthom33]

The Treasury & Federal Reserve officials said they had known about the bonus program as far back as last fall. But at no point has the media noted that the Treasury Department at the time was then-Bush's Treasury Depart. Indeed, Bush or his Treasury Secretary Hank Paulson at all, much less report that the Bush Treasury Department worked with the Federal Reserve in carrying out last year's bailouts & buying AIG stock despite the existence of these bonus contracts. How soon you folks forget

[lthom33]

Must you be reminded also that due to no regulation during 8yrs of the Bush admin., President Obama now owns the hugely unpopular necessity to save the system Bush screwed up- at a cost that may climb to $2.5 trillion & beyond. Bush started the bailout by giving these failed financial institutions $840B & the bonuses came from THAT money. Why hasn't anyone questioned Paulson??!! Unbelievable. Geithner approved $30B more w/out knowing about these contracts. They didn't find out until last week!

[bikersrule07]

no clinton started this whole crap, by agressivly telling mogadge companys to give morgadges to people who could not pay .... get off the bush thing... stop blaming bush , obama is in the wheel house not bush

[lthom33]

That's not true - Phil Gramm (R)slyly pushed his deregulation bill through & Greenspan didn't bother to write any rules or regulation. In short there was no federal oversight. That's what started the mortgage crisis. I blame Bush for this mess because he's the one who's responsible. It happened under his watch not Clinton's! Obama has inherited the mess he left behind -he didn't create it.

[bikersrule07]

no your wrong, clinton started it , im sorry you need to look into, bush tried to put regulation in place but was blocked by the dem party , in fact i think bush tried it sevral times, it is a failer of goverment not 1 man called bush... im sorry but the dems are much to blame as anyone

[lthom33]

Nice try but there was regulation during Clinton years & a $500B+ surplus. Gramm's (R) Bill passed 12/15/99 to deregulate just before Bush went into office. Repubs have controlled Congress from '94 through '07not Dems. Congress should have wrote a Bill placing deregulation back into our financial system & Bush sign it but they did NOT. Blame the bastards who are guilty because it's a great injustice if you do not!

[bikersrule07]

really okay then who started the this houses thing where people can get houses who cant pay , Clinton or Bush ?? please dont run over the truth..... you are only lieing to your self ithom.

[lthom33]

I have no clue to what you're talking about. Explain to me what you mean in regards to "this houses thing" that either Bush or Clinton started. It's annoying when you argue with me about the mortgage crisis while @ the same time you have no clue to what an act or Bill is called. Find out before I respond.

[bikersrule07]

i give up, you must have an eye site of a pea shooter because the dems can do no wrong no matter what... in your world.

[lthom33]

I'm waiting for that response - in "your" world that is. haha

[bikersrule07]

who started the whole deal of giving out morgadges to people who can not afford them , your waiting for my answer, you havent even answerd my question, on the morgadge deal, except dance around it, and lieing to your self. whos admin did it start with, bush or clintons you cant answer that can you ?

[lthom33]

Neither- The CRA was enacted in 1977. For Repubs to blame a statute enacted in '77 for something that happened 25 years later takes a fair amount of imagination. CRA doesn't encourage or condone bad lending, because bank regulators were decrying bad subprime lending by 2000 (see Interagency Guidance on Subprime Lending), & warning the CRA-covered institutions we regulated that badly underwritten subprime products that ignored consumer protections weren't acceptable-other lenders not warned

[lthom33]

CRA is not perfect. It doesn't cover a substantial portion of the financial services landscape. It has become complex & the primary focus is on numbers of loans w/less attention to the quality of those loans. However these are not reasons to repeal CRA or blame it for a mess caused primarily by those not subject to its reach during a period when even those under its umbrella were not encouraged to take it seriously. It was deregulation which caused the mortgage crisis (credit swapping)

[bikersrule07]

okay i tell you what im not an American, but I would be proud to call my self an American... im going to give you the benifit of the doubt , scince i get news 2nd and 3rd hand, i was convinced it was started with the clintons, but as allways i will do my own research, thank you for talk.

[lthom33]

Our banking effects the world banking system. So you have every right to ask questions & be upset w/negligence if it's effecting you. What news do you watch? I've been seeing several posts blaming CRA for our mortgage crisis but it's a lie. I would like to know what media is shoveling out the BS.

[AceOfSpade1234]

Buy there shares,... they're dirt cheap,... they'll be a powerhouse again.

[pig5689]

Are you Jim Cramer?

[playdrumsmofuxa]

Geithner did it

[ChimpBama]

The Dems write a bill with language specifically protecting AIG bonuses. Republicans discussions end with Obama saying: "We Won"

Bill pushed thru congress, only 3 republicans vote yes.

Don't they read the bill before voting & signing it into law & Pissing Billions of Tax dollars away? Isn't it important enough to READ & UNDERSTAND IT?

Now Obama & the DEMs can say:

I voted FOR the AIG bonuses before I voted AGAINST them.

[iceman5815]

Congress sure open a can of "DUMB-ASSESS"...

[quinton01]

Barney Frank should be arrested.

"The last official action of any government is to loot the nation."

[rwealluseless]

AIG IS NOTHING!! IT IS A DISTRACTION THAT IS ALL.

The FED announced it is buying over a trillion dollars of our Debt while everyone was focused on AIG!

This is the END of our DOLLAR! ITS DONE GAME OVER!!

[AceOfSpade1234]

Slow down drama queen,.... turn off CNN,...

[wakeupamericans1]

amazing how they put a distration of 165 million when BILLIONS is going out the back door ha ha ha. this country is totally screwed from the white house to the local counties

[calladuz]

I dont understand the double standard. AIG gets all the money with no question to give it away to excutives in bonuses, then you have the 'heat and controversy' of the Automotive Bailout (which techinally was not a bailout, but a loan). At least GM and Chrysler actually contribute to the economy, and their workers would pay off the debt through taxes in a couple of months. WTF? Of course America is Fascist state (yea, I said it) where picking a leader every four years makes it a 'democracy.'

[she8nom]

I lol'ed when they mentioned "tax them 100%"...

[crrlm8]

The A.I.G. bailout has been a way to hide an enormous second round of cash to the same group that had received TARP money already. Follow the money........

[RacerXGTO]

The fracking government is out of control, these people are too far gone

[justic23]

printing money to "bail out" alongside a poor economy and the dollar still stays high with no real signs of inflation then isnt that creating another future problem?

[Dewdaahman]

you Traitors allowed for the bonuses in your legislation and you need to be STOPPED!!!!!!!!!!

[shadowjoker8]

bonuses up the ass

[snslion]

Socialism doesn't work. Why the hell are we gonna have to pay for this crap. Ultimately the American Tax payer is gonna get the bear of the burden. Stop spending money.

[sharinganclan213]

if u dont think this is socialism then u are dead wrong. these dumbass politicians madea fucking mistake in writing the bill and now they have to clean their shit up. fucking retards.

[rwealluseless]

Call/email your reps and tell them not to pass H.R 1388.

Obama wants them to pass this bill so he can sign it!

We can not give them power to install whatever mandatory programs they want- national civil service.

This reeks of socialism and communism.

[xianglee1]

Bush, Obama, Dodd, Geithner et al knew about this retention bonus & nothing was done about it. The only reason they're now OUTRAGED(lol) is bcs the taxpayers are. BTW instead of fighting about the millions WHAT ABOUT THE BILLIONS THAT HAVE BEEN GIVEN TO AIG!!! Big portion of it went to foreign banks & some domestic banks who already recieved BILLIONS in bail outs already from taxpayers. DON'T BE FOOLED by politicians & wallstreet thieves!

[DerekDgreat]

Bye bye Colonilaismisevil, funtime is over, you're out.

[Chick6517]

If you finished a book, but thought it wasn't the best you could have done with that concept and idea, would you still have it published?

[Doll2007Doll]

CEO should pay from his salary.

"Let recipients be warned.." - thanks Senator Schumer.

[CitizenTommy]

Now Geitner is saying that out of the $30 billion more that AIG will get, they will short them the $165 million dollars. Out of the $170 BILLION that the federal government has given to AIG, Congress is upset at $165 million. This is like the government giving me $170 and then saying we didn't like what you did with 16 cents, so we're going to withhold paying you 16 cents. Regardless, I'm still getting $169.84.

[RonFella]

As soon as Obama returns the $101,000+ campaign "bonus" he got from AIG last year then he can open his mouth. Now he just looks like a hypocrite. Despicable.

[blazeoflife2]

You do know he gave it to charity right?

[RonFella]

LMAO! You really believe that? Obama gave nothing to charity. If you have proof of this post the link otherwise stopping covering for this Hitler like facist.

[hotae333]

just a way of geting your mind off the bankers that are still screwing the shit out of you bah

[ANGLEBOOT]

As one person said,"Hey Obama, I'm about to write out a check for my taxs. Just need to know the name of the CEO I'm sending to?"

[FigurinItOut]

You know something? I don't think I'd have any problem with the AIG executives getting bonuses if the company were turned around and thriving again. The issue is not really the money, it's the timing. It's as if the executives said "Up yours, we'll do what we want. We'll take the money and run." I think it says they're a much bigger part of the reason why AIG was failing in the first place! The bonuses are an insult to all Americans.

[Howlinblind]

Bail Out The American People

[exacerbatedtaboo]

Google UCC1 Filing Statement and become familiar with it. You can get your bail out.

[exacerbatedtaboo]

I'm sorry. I meant UCC1 Financing Statement.

[exacerbatedtaboo]

This outrage is just an act. Who do you think these lawmakers and politicians work for? The banks of course. They just want to appear outraged to satisfy you. It's bs. They all knew what was happening to that money and when it was going to happen and they did nothing to stop it.

[ANGLEBOOT]

That is right, it's the "CHANGE" Obama spoke of so many times.

[P3rf3ctStorm]

Where's MY bonus? I'm waiting......

[militaryrundemocracy]

watch ''the obama deception.''  he is puppet of teh new world order, prepare , know your enemy.

[marniespeaks]

Bernanke set this up

Who is Obama working for?

[Docthewrench]

I hear OBAMA wants to go after the PEOPLE who GOT the bonus's ERR FUCK him I got a huge bonus last year he wanna come after me let him try OBAMA if my employer gives me a BONUS it isnt MY FAULT FUCK this admin for the next 8 years, I am going to set a record for myself this year, I will make the biggest bonus I can, and DARE anyo0ne to question it. not my fault I do awesome work and get nice bonus's

[mentaluphoria]

Thou what you say does have merit, it is profoundly lacking any significant thought. I got a bonus also last year because my business made sound business decisions and we stayed within our limits and made smart business decisions. The money that was given out for the bonus came from profit, that didn't come from the government. The bonus money AIG is using came from the government and tax payers and that is the difference. The government as well as the people have an 80% stake in AIG.

[thinkasshole]

yeah fuck you and your bonus..