What should gov do about AIG?

[Paul]

AIG is paying out millions in bonuses again and is claiming it has to b/c of contracts. Problem i see is why weren't these renegotiated already?

[Total_Blender]

I don't see why a bonus can be part of a contract. Thats just wrong. If I knew my bonus was coming whether I worked for it or not, I would probably fail at my job constantly too.

I'm starting to think the Gov. should take the bailout money back and let them go into chapter 11. That should straighten all this monkey business with bonuses out in a heartbeat. lol

[Paul]

i think its funny they can pay bonuses but you didn't hear anything about them talking about paying back the 170 billion

[Total_Blender]

i think its funny they can pay bonuses but you didn't hear anything about them talking about paying back the 170 billion

Like most of their clientele, they will probably just stick to making the minimum monthly payments.

[preferredduck]

i think its sad they don't have the money to operate day to day but the execs have taken trips, bonuses, etc. just a while ago they had mentioned the gov't has like an 80% stake in AIG(might be why the other banks gave the $$ back) and some dude rom the banking comittee said he will tax the bonuses back if he has to.

[BanginJimmy]

1. govt cannot infringe on a private company's contracts.

2. Most of those bonuses are for people that make certain goals. Maybe it is sales, safety, or profits. Most of the people getting these bonuses are paid a very low salary, but make their money on these bonuses.

3. I agree that AIG needs to go into bankruptcy, but the problems they are in now are not directly their fault. Their problem is the HUGE amounts of corporate insurance that they have paid out to historicly very solid corporations who have been killed by the current mortgage meltdown and the other consequences of it.

[Frög]

Mass suicide

http://www.politico.com/news/stories/0309/20083.html

[redrumracer]

they gave them money the first time and what did they do? THEN we give them money again, what could we possibly expect them to do.

how does that saying go,
fool me once shame on you
fool me twice shame on me?

[§treet_§peed]

i say fuck em. let them burn in hell. just like gm should have.

[zimabog]

1. govt cannot infringe on a private company's contracts.

2. Most of those bonuses are for people that make certain goals. Maybe it is sales, safety, or profits. Most of the people getting these bonuses are paid a very low salary, but make their money on these bonuses.

3. I agree that AIG needs to go into bankruptcy, but the problems they are in now are not directly their fault. Their problem is the HUGE amounts of corporate insurance that they have paid out to historicly very solid corporations who have been killed by the current mortgage meltdown and the other consequences of it.

The bonuses were not for low level employees, but for the high execs!

73 people got over $1 mil in bonuses each!

[BanginJimmy]

maybe they were. I would imagine that most of those bonuses are paid to execs who's departments performed well.

Remember a while back the AIG subsidary took their best earners on a retreat over a long weekend and the press went crazy. I wonder why they only mentioned it as AIG took them, and nothing about the fact that American General took them or that American General made something like a 50Mil profit that year when everyone else was losing money.

[primespark22]

from what ive seen and heard the bonuses where in the contract with the bailout money but the goverment overlooked it

[leobond001]

thats why the gov should taxes the hell out of the bonuses. they can pass a bill in a heart beat to inpose a 98% tax on any bonus more than 50k

[BanginJimmy]

thats why the gov should taxes the hell out of the bonuses. they can pass a bill in a heart beat to inpose a 98% tax on any bonus more than 50k

Your envy of those that make more money than you is showing through.

[.blank cd]

If you know your name is in the spotlight underneath a failing company, doesnt it seem like the smart thing to do as the guy whos writing the checks to renegotiate the "bonuses" or the "retention pay"

and i mean really, if youve been getting multi-million dollar bonuses for most of your career, if you dont get one this year, are you really gonna miss it? if so, something is terribly wrong with the way you're living

[Terror]

What i think is both funny and ridiculous is how the media twists things. I work inside a corporate giant that has received several billion dollars of said "bailout" money. which everyone gets pissed and likes to say "so my taxpayer dollars are going to bail out a company ? let them go bankrupt!". For all of you I would like to clarify something, this said bailout money is also referred to as TARP. It is NOT free money, the institutions which receive such money are paying it back at a rate of 8% quite rapidly for some institutions might i add. It is a LOAN just as a financial institution loans money to you, Govt loaned it to them to provide money to you. Im not speaking on behalf of AIG's code of ethics, but i think many people need a reality check. In all reality, because of this hight interest rate the institutions are paying back it will actually result rather in benefits for taxpayers. Media would never mention this. So to anyone who wonders why the govt is "bailing" anyone out.... heres some clarity.

[preferredduck]

maybe they were. I would imagine that most of those bonuses are paid to execs who's departments performed well.

Remember a while back the AIG subsidary took their best earners on a retreat over a long weekend and the press went crazy. I wonder why they only mentioned it as AIG took them, and nothing about the fact that American General took them or that American General made something like a 50Mil profit that year when everyone else was losing money.

nope, the dept that got the bonuses was the worst dept in the company, they were retention bonuses and 11 of the execs had already left and got paid. another thing i have heard is the congress pension plans and ins is through aig, would be a client listed as crsr i think, they also habdle other gov't pension etc like fers which is what my dad has, thats what he told me so of they go under congress gets screwed.

[Paul]

i heard some of the people getting bonuses don't even work for AIG anymore

[SL65AMG]

Seems to me like all of these big-wig CEO's are trying to suck the money out of the company and into their pockets before the bottom falls out and everything takes a nose-dive into the shitter...

[preferredduck]

i heard some of the people getting bonuses don't even work for AIG anymore

11 of them so far

[AirMax95]

I heard someone say that there should have been a 3rd party monitoring where EVERY PENNY of ANY bailout money was going.

I heard someone say that the AIG group got themselves in a hole and should not be allowed to use the gov't money w/o supervision.

I heard someone say that bonus money should not be taxed to hell and back, yet given to those who earned it and capped; unless you are a direct sales person.

I heard that AIG should be sold to JP Morgan Chase.

I heard that people keep blaming everyday shit on Obama.

I heard someone say that none of the current country's issues are Bush's fault.

I heard that the housing market will pick up late this year, but take several years to top off.

I heard new housing construction is picking back up, as well has home remodeling.

I heard that the world will not end in 2012.

I heard constantly loaning money to entites that can't repay it becuase they lose it, do not deserve more loans.

I heard that some corporate execs need to be fired/jailed/let go because they either: cheat the system, are complete morons, or just have a trail of bad decisions.

I heard that I need this flowchart done by 1:30pm and submited for immediate use

[preferredduck]

I heard someone say that there should have been a 3rd party monitoring where EVERY PENNY of ANY bailout money was going.

I heard someone say that the AIG group got themselves in a hole and should not be allowed to use the gov't money w/o supervision.

I heard someone say that bonus money should not be taxed to hell and back, yet given to those who earned it and capped; unless you are a direct sales person.

I heard that AIG should be sold to JP Morgan Chase.

I heard that people keep blaming everyday shit on Obama.

I heard someone say that none of the current country's issues are Bush's fault.

I heard that the housing market will pick up late this year, but take several years to top off.

I heard new housing construction is picking back up, as well has home remodeling.

I heard that the world will not end in 2012.

I heard constantly loaning money to entites that can't repay it becuase they lose it, do not deserve more loans.

I heard that some corporate execs need to be fired/jailed/let go because they either: cheat the system, are complete morons, or just have a trail of bad decisions.

I heard that I need this flowchart done by 1:30pm and submited for immediate use

then you sir have 11 minutes to make your chart