AIG wants permission to hand out $2.4 million in bonuses
The troubled insurance giant has been pressing the federal government to bless the payments in hopes of shielding itself from renewed public outrage.
The request puts the administration's new compensation czar on the spot by seeking his opinion about bonuses that were promised long before he took his post.
AIG doesn't actually need the permission of Kenneth R. Feinberg, who President Obama appointed last month to oversee the compensation of top executives at seven firms that have received large federal bailouts. But officials at AIG, whose federal rescue package stands at $180 billion, have been reluctant to move forward without political cover from the government.
"Anytime we write a check to anybody" it is highly scrutinized, said an AIG official, who declined to speak on the record because the negotiations with Feinberg are ongoing. "We would want to feel comfortable that the government is comfortable with what we are doing."
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- groups:
- News, Current Tonight, US Politics, News_Featured, 1 more
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- tags:
- News, Economy, US Politics, Current Tonight, 7 more + add
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- AwesomeJosh
- added this
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I think the appropriate answer is..... FUCK NO
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- JimboTheHippo
- 4 months ago
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They should give me that money because I could make it last 2 lifetimes over.
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Yeah, the govt. should tell AIG to suck one. They just pulled a reverse 20:1 stock switch. Which is a joke because it will be worth the same as 20 shares were last week. Irresponsible companies, irresponsible govt. spending, and just pain old stupid. Suck one.
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- jkudurog45
- 4 months ago
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Hell no bonus! These guys have done nothing but pontificate how to screw the American public...
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The answer should be, 'Yes, you may have out those 2.4 million in bonuses, however only after you have paid back the $180 billion you've borrowed.' I liken this to the hypothetical mate you have loaned say $500.00 two a few months back and rather than paying you back when they have the money, they go out and purchase a 50in plasma television.
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How about FUCK NO.
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My corporate pension fund is with AIG
They lost half of my money during last 10 months!I am not really sure how I feel about them getting bonuses!
I guess its a between, sick, angry, outraged and well, resigned!they so don't give a shit about what happen, they all took the bailout and forgot the why.
Sounds like f. teenager screwing up and daddy paying the damage,
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MORE!?
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Persistant little boogers, ain't they? Those Jag payments must be killing them. I'm welling up.
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- bluestranger
- 4 months ago
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I dont feel the need to waste my time with an intellectual discussion on the pure evil that is AIG. We all know these people have done some messed up shit in the pursuit of their massive wealth. So I'd just like to take this opportunity to publicly say that AIG can suck my big fat italian sausage!
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- Sumbodyswatchin
- 4 months ago
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STOP CORPORATE WELFARE
How is it that Banks are the only ones who can break the rules. Pay the people and my pension fund back what you lost.
. Then and only then refer to it as your company.
Then you can Bonus yourself into Oblivion. -
HOW ABOUT A STRIKE OUT... PLAY BALL !
1) A.I.G. Paid Fellow Wall Street Casino High Rollers With U.S. Bailout Funds
http://current.com/items/89907177_a-i-g-paid-fellow-wall-street-casino-high-roll...2 ) Was Eliot Spitzer Taken Out Because He Was Going to Bust AIG?
http://current.com/items/89901630_was-eliot-spitzer-taken-out-because-he-was-goi...FOLLOW THE MONEY FOR THE LAST THROW ;)
3) THE GREAT AMERICAN BUBBLE MACHINE
http://forums.somethingawful.com/showthread.php?threadid=3159732&pagenumber=...In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" — investment bank Goldman Sachs. The piece has generated controversy, with Goldman Sachs firing back that Taibbi's piece is "an hysterical compilation of conspiracy theories" and a spokesman adding, "We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good." Taibbi shot back: "Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it." Here, now, are excerpts from Matt Taibbi's piece and video of Taibbi exploring the key issues.
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_ma...
Now, will Taibbi end up being just another journalist who's going to join the likes of Greg Palast in being ignore in the pure tradition of the functioning analphabetic village idiot nation our so called masters & leaders wants us to be or at very least think ourselves to be.
If only we could participate more like north Koreans ;)
"Americans do not have the intellectual capacity to revolt. All you need to keep them pacified is to give them a dozen donuts & a gun !" - Max Keiser“It’s here that the American dream decided it liked the taste of the vomit it was chocking on. Just rolled over on its back and screamed for more drugs. it didn't die.“ - Warren Ellis
EXECUTIVE RESUME
THIRD WORLD AMERICA !
http://current.com/items/89833556_third-world-america.htm-
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- WhiteNoise
- 4 months ago
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How sad that's it's even a question. Hell no! They should do what the rest of us do, suck it up and make do with what they have!
I didn't get a bail out and God knows I can use it. I have to play the lottery in hopes of getting more money. They get to take our money. Something is wrong with this picture. Didn't they screw up in the first place? Would we be in this financial mess today if they had operated like a competent corporation?
Why give them bonuses? Just because they want it? No one has been held accountable for what they lost so far. If they are able to continue in the future, it's not because they did good work. It's because they were 'rewarded' for bad behavior. That's just crazy!
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doesn't surprise me the least bit. It's pretty pathetic the American Public is stuck bailing out all these corporations such as GM and AIG, etc. How about for all the money I'm losing to Taxes GM gives me a free car since they've got a few hundred thousand just sitting around, and AIG Pay me a bonus or two for bailing their asses out.
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- stephenk29111
- 4 months ago
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Want to see Dick Fuld in prison stripes?
Angelo Mozillo in solitary?Join the crowd. A conversation with top legal minds on who will and who won’t be prosecuted—and why. “We, the Jury” - A conversation with top legal minds on who will and who won’t be prosecuted—and why.READ FULL STORY HERE
http://www.portfolio.com/executives/2009/04/21/Executives-in-Legal-TroubleOur whole culture is organized around wealthy people who keep poor people poor, uneducated, and powerless.
TIME FOR A CHANGE :)
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- WhiteNoise
- 4 months ago
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No no no no no - no discussion-reasons for no are obvious-fire the losers
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The money that is bailing out these companies could have given every American a home to live in and allowed the rest to pay off their mortgages. AIG is full of a bunch of douche bags and we should all be protesting this BS. My uncle would defind this as "they earned this". Um what exactly did they earn? They ran the company into the ground and have no problem taking the country down with them. Stupid people aren't just uneducated. We have a plethura of information at out finger tips. There is no excuse for being a moron. And again just because this is happening in the US does not mean we all agree with it!
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I concur with most posters here by offering my resounding OH HEEEEEELLLLLLL NO.
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Too big to fail WAS A LIE!
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This is outrageous. How could you loan money just to bonus yourself? The govt is the majority owner on AIG and I propose the govt should do the right thing here: Fire all those wants the bonus at AIG. There are alot of Americans with the same education credentials who will do the same job even better with less pay. AIG employees ain't rocket scientists.
In short AIG ain't NASA.
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Alright, my immediate response was, of course, "Hell no! Really? We are going to go through this again? Good Lord, the people really have no control over much of this government anymore."
But, wanting to examine both sides of a situation, here is the other side:
AIG, whether we like it or not, is necessary to keep our economy functioning. Without them, we would literally fall apart because there is no other company of its size that could take over all of its customers.
So, we have to keep the company alive. We can punish them later, with stricter regulations or whatever, but not now. Bankruptcy for them would be bankruptcy for the rest of us.
And the board. As rich and selfish as they are, they are the only people in the country right now that can continue to run this company. Without the bonuses, they would quit. They have plenty of money and could get employment elsewhere making the same amount and doing less work. Again, that would be a catastrophe for the company.
It's like impressing your mother-in-law because you want to marry her son. You don't do it for her, you do it for him.
So, yeah. Things aren't perfect. They are pretty fucked up. But keep in mind, there are two sides to this argument.
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- caitlynmaerose
- 4 months ago
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Two sides indeed...
Winners & Losers !
Spot the loony ;)
“One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We're no longer interested in finding out the truth. The bamboozle has captured us. It is simply too painful to acknowledge -- even to ourselves -- that we've been so credulous“ - Carl Sagan
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- WhiteNoise
- 4 months ago
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Let us NOT forget they have changed their name from AIG to SunAmerica. They rapidly changed the name and rebranded all their buildings and websites to read SunAmerica instead of AIG.
Note, that the bad press only acknowledges AIG and NOT SunAmerica.
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- Apocalipstick
- 4 months ago
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their bonuses are actually trivial compared to the fraud of the us government, in fact the last time there was controversy over aig bonuses the treasury quietly bought up 1.4 trillion in bonds not too mention the 700 billion bailout before that aig is nothing in face of the massive swindle the government did already our money will be worthless real quick thanks to cap and trade scam, the federal reserve corruption and the global corruption as well, oh and lets not forget EMERGENCY ALERT - Stop the NEW Real ID - S.1261 - The PASS Act its time to wake up tyrants are cooking up some diabolic plans
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- deletethefed
- 4 months ago
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Just issue arrest warrants for all the bankers and get it over with. It's about time those thieves were thrown in prison!









