Aig

[Palandri]

This is really messed up!!!!!!!!!!

http://news.yahoo.com/s/ap/20090315/...ge/aig_bonuses

[Anti-Static-Man]

Oh. You didn't know? Our taxes are for making the rich richer. We don't really "Help" the united states by having money withheld from our earnings. We just pay for peoples houses in the Hamptons.

Thank your friends though, the "Federal" Reserve.

[JustinC939]

[Enmore]

It just demonstrates (yet again) that the financial 'industry' hasn't learn't a DAMN thing from recent events. Get ready for another financial crisis in 20-25 years time.

[AeroSim]

It just demonstrates (yet again) that the financial 'industry' hasn't learn't a DAMN thing from recent events. Get ready for another financial crisis in 20-25 2-5 years time or sooner.

fixt.

Liddy informed Treasury that outside lawyers had informed the company that AIG had contractual obligations to make the bonus payments and could face lawsuits if it did not do so.

Liddy said in his letter that "quite frankly, AIG's hands are tied" although he said that in light of the company's current situation he found it "distasteful and difficult" to recommend going forward with the payments.

Liddy said the company had entered into the bonus agreements in early 2008 before AIG got into severe financial straits and was forced to obtain a government bailout last fall.

The large bulk of the payments at issue cover AIG Financial Products, the unit of the company that sold credit default swaps, the risky contracts that caused massive losses for the insurer.

I'd have to read and understand the terms of these contracts. However, my definition of a "bonus" is something extra that is a result of the well-being of the company. This sounds more like entitlements.

Of course, they did make $170 Billion USD for just begging extortion blackmail payoffs depression threats asking.

Crap. Why buy lottery tickets?

[JustinC939]

It just demonstrates (yet again) that the financial 'industry' hasn't learn't a DAMN thing from recent events. Get ready for another financial crisis in 20-25 years time.

Yeah, I'm starting to think my 401k is safer in a fireplace.

[smoked trout]

We should have let AIG die then the bonuses would have been appropriate: $0

I think that if they're going to give these bonuses, the addresses of the recipients should be made public.

Liddy has the gall to say they cannot retain top notch talent if they think their bonuses will be slashed 'arbitrarily'. This from a company that has essentially failed on a massive scale yet kept bonuses and junkets intact for these failures.

Fire the whole lot of them, or publish their addresses.

[/\/\adGamer]

My 401k money is safer in my pocket right before Bush stepped aside I stopped throwing my money away into my 401k.

[Pehu]

My 401k money is safer in my pocket right before Bush stepped aside I stopped throwing my money away into my 401k.

Money in your pocket is just paper.

[Enmore]

Probably the best investment right now would be some arable land and some firearms.

[jimzinsocal]

I certainly have no love for AIG or how they run themselves.
At the same time? Im careful not to be distracted

Obama's econ aides lash out at American International Group, calling their bonus pay-outs 'outrageous'


^^Think about that quote for a minute.
Government guys irritated with AIG. The convenient bogeyman.
After launching 1.5 Trillion in new[unfunded] spending.

[old82]

for all the money we're blowing on the •••• sucking bastards we could have bought many people cheap dome type houses and supplied them with low cost vehicles, and dropped the income tax for anyone making less than $30,000 a year.

the reduction of burden on about half our population would have fixed this economy right quick... but no... these rich smart people deserve millions and billions and trillions of dollars for their wonderful contributions to our society.


buncha •••• suckers.... they ought go commit suicicde. i don't know how they live with themselves.

[Enmore]

Sharing the AIG bailout love:

..the gross sum received by Goldman from the US Federal Reserve, via AIG, was $13bn.

the gross sum that Societe Generale of France received from the Fed via AIG was $11.9bn; and there was a gross transfer of Fed money to Deutsche Bank of $11.8bn.

Of the British banks, Barclays benefited most from the lifeline given to AIG, receiving some $8.5bn (gross) of the unprecedented support given by the US central bank.

http://www.bbc.co.uk/blogs/thereport...lity_myth.html

[Dutchcedar]

^^^ I don't know exactly what went where, but apparently Goldman Sachs got something like $30 billion and foreign banks got something like $100 billion.

That tells me that the fuss over bonuses is a diversion. Yes, its a problem and a serious one, but pales in scope to these other two things, by a factor of about 1,000.

Its fascinating how one story gets all kinds of attention and the other two much larger ones get hardly a mention. Its a propaganda machine at work.

And as an aside, why do our legislators get all puffed up over bonuses to a select few, probably undeserving folks, while they pour cash into the pockets of millions of undeserving folks on a daily basis?

Its nothing short of a hypocritical process.

And its laughable. The government had every opportunity to set the ground rules when striking the deal. To run whining now to their blow hard media machine as if they're some kind of victim is hilarious. Don't know how to write a deal? Get out. Frickin' amateurs.

[/\/\adGamer]

Money in your pocket is just paper.

And money in my 401k just disappears at least the money in my pocket can be put to use if it gets to total worthlessness I can always wipe my ass with it. Cant say that the money just gone in my ever shrinking 401k.