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makes my blood boil
what is the legal position? presumably if the contract to receive the billions didn't stipulate - cant be used for bonuses - then they don't have any recourse whatsoever?
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makes my blood boil
what is the legal position? presumably if the contract to receive the billions didn't stipulate - cant be used for bonuses - then they don't have any recourse whatsoever?....Freak in the morning, Freak in the evening, aint no other Freak like me thats breathing....
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Re: The AIG bonuses
Quite outrageous considering they've received multiple bail-outs. Whether bonuses are deserved for some employees is irrelevant considering it looks bad to the public. Glad to see Obama on the offensive and holding them accountable.Never interrupt your enemy when he's making a mistake - Napoleon Bonaparte -
Re: The AIG bonuses
It really is obnoxious, and even if they are legally within their rights to dole out these "bonuses," it's hard to understand who in their right mind thought this would be a good idea.
One frequent justification I hear is that these bonuses are not really "bonuses" as we normally think of that term being used -- that they are a significant, and expected part of executive compensation. If, in fact, that's the case, they ought to consider changing the pay structure until the company gets backs on its feet, because this is a PR nightmare.
The other thing, though, is that if you're getting a multi-million dollar bonus this year, it probably isn't the first time you've received a bonus like that, and you're probably doing pretty well and aren't living paycheck to paycheck, to put it mildly. Maybe you defer that compensation until a time when your company isn't relying upon the American taxpayer to save your ass. Just a thought.Comment
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Re: The AIG bonuses
fuct...
actually read this before getting out of bed this morning on from my blackberry...damn you google alerts
It was fun while it lasted...
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Re: The AIG bonuses
Should of let the bastards go bankrupt in my opinion."pics or stfu" - R.I.P. Steve "Jibgolly" JamesComment
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Re: The AIG bonuses
well if they cant take those bonuses away, they should put those executives on the spotlight and ask them to turn the bonuses down, maybe theyll have a bit of shame on them...:: listen :: react ::..
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Re: The AIG bonuses
did you hear about the exec in the uk who recently had his £8m pension approved - by the government - he was one of the top dogs at Royal Bank of Scotland which had to be bailed out more than most to the point where it is virtually state owned. fookin unreal....
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Re: The AIG bonuses
some reports actually have come out that they are indeed too big to fail...not so much for what they are worth, but for what they have written on insurance-wise and the like...it may be in the "unfathomable" range.
I'm willing to bet that they are holding that as collateral so they can just keep getting money whenever they feel like it...FM
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Re: The AIG bonuses
There is a valid question to be asked of us and the politicians that are now expressing outrage over this -- to paraphrase a commentator that I think is spot on much of the time, what were we expecting?
These bailouts were set up with minimal oversight, and with limits on executive compensation removed. We basically put our trust in the very people whose greed, self-interest and short-sightedness got us into this mess, and relied upon them to not be greedy or self-interested. Surprise, surprise, they had an opportunity to take more of our money without consequences, and they took it. Why exactly are we shocked by this?
I heard another question asked by a CNN viewer this morning, and I think it is a valid one. If, in fact, these are bonuses that "must be paid" as the apologists maintain, how would AIG have paid them in the absence of a government bailout?Comment
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Re: The AIG bonuses
I have said it a thousand times on here that your country is being robbed. Plain and simple. No indictments No Justice for this economic meltdown.
Nevermind what is going on over at Citi. Citi's CEO is getting $11 mil in bonuses.Comment
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Re: The AIG bonuses
most of it is to pay off the CDS bets as well...not so much the actual ones written, but all of the speculative ones too that had no merit to begin with..
FM
"Nowadays everyone is a fucking DJ." - Jack Dangers
What record did you loose your virginity to?
"I don't like having sex with music on- I find it distracting. And if it's a mix cd- forget it. I'm stopping to check the beat mixing in between tracks." - Tom Stephan
Download/Listen To My Mixes
Facebook!
A Journey Into Sound On MCast
Satisfaction guaranteed, or double your music back.Comment
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Re: The AIG bonuses
I had wondered how this money was spread out, and now we have a somewhat better idea -- 73 people got in excess of $1M. Credit where credit is due, these guys have some ginormous balls.
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Re: The AIG bonuses
Our new president puts it pretty well:
[YOUTUBE]http://www.youtube.com/watch?v=yDGN0Hk301Y[/YOUTUBE]
After viewing this I couldn't help but imagine what Bush's reaction would have been if this would have happened on his watch...
I can hear his bullsh*t now...
It was fun while it lasted...Comment
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Re: The AIG bonuses
I would like to see two things happen, that would be invaluable in getting this money back, because legally, I'm not sure that there are a lot of options:
1. At least one of these people has to announce that he/she is going to give the money back.
2. The names of the people that received these bonuses need to be released.
Right now, there is ZERO pressure on these folks to do anything other than sitting back and comforting themselves with massive piles of cash. For people that already have enough money to live very comfortably, an extra million or two probably isn't worth becoming an absolute social pariah.
That would be my completely naive hope, anyway. Probably unrealistic to think it would make a difference.Comment
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