AIG Are Thieves … Mr. President, the Honeymoon is over now do something.

aigAIG or American International Group, Inc as it is known is one of several companies that have asked the United States Federal Government to bail them out during this financial crisis we are all suffering through. According to Wikipedia The United States has given them over 170 BILLION dollars to help shore up the company. Well, my American friends, that money came from you and me in reality not the Government. You and I paying taxes is exactly where it came from. The question now is was AIG responsible with the money they received? I’ll leave that up to you but so far AIG has handed out 165 million in Executive bonuses to their employees. 165 million … Did you read that right? 73 of their Executive employees received over 1 million dollars each in bonuses. 7 of their employees received over 4 million dollars each and out of those 73 so far 11 have quit after receiving their bonuses. Basically they have jumped off a sinking ship and took the loot with them. One Executive got a 6.4 million dollar bonus. While our friends are getting laid off right and left, including my wife, these assholes are getting their bonuses and then quitting. So in closing … Mr. President, ultimately you signed off on this bailout for AIG  and the others including the automobile industry. It’s your job to correct this major mistake. I would hate to think about all the people that would be let go if AIG failed, but in reality I have no one at my door asking me if they can pay off all of my debts because I can’t manage my money so as American citizens we have a right to be PISSED and demand our Leader to do something about this… so there … comments and opinions are welcome …

Here is my source for the article … http://www.cnn.com/2009/POLITICS/03/17/aig.bonuses/index.html

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17 Comments


  1. //

    What is the reality of the situation is that the (2) biggest receivers of campaign contributions form AIG are…………….

    #1) Chris Dodd- Connecticut Senior Senator and Chairman of the Senate Banking Committee……… a stout Democrat.

    and the #2 biggest receiver……….you guessed it…….

    Barrack Obama!!!!!! Our fearless leader.

    This is one of them, You scratched my ass, now let me scratch yours deals!!!

    NOW THAT IS CHANGE I CAN BELIEVE IN!!!!!!!!!!


  2. //

    Bailing out billionaires is NOT the answer. I emailed Lugar, Ellsworth, and Bayh and told them they would not get punched on my ballot if they voted for the bail out. They did not get my vote.

    Chuck, This bailout was under Bush’ Regime but I agree that our new fearless Liter (sp incorrect on purpose) is doing nothing to fix it.

    We The People have no voice/choice any more. It’s too late. Just grab the rail on the Rollercoaster chair that you are in and hold on!


  3. //

    Say you’re in a band and the band enters into a contract with a club to play this weekend for $1000. Weekends comes, you show up and play, but only 5 customers show up. End of the night the club manager comes to you and says, “Well, we didn’t make any money tonight so I’m not paying”.

    Same thing as this——these guys had a “written contract”, long before the economy went south, that if they did certain things, within a certain timeframe they would get this bonus. They performed, why not pay them. It’s a legal contract.


  4. //

    I see your point here grips, however, there is a flaw with your analogy. The venue owner did not take taxpayer money to try and keep his business alive. AIG did. They took that money knowing full well that big bonuses and corporate jets were a hot and controversial topic and that they would be called out for it. In your scenario, it would be the equivalent to the bar owner borrowing money to keep the beer coolers full only to use the money to pay the manager a bonus instead. — Don’t get me wrong, I understand what you’re trying to say, you just used a bad example.


  5. //

    Again, when these contracts were entered into (what, a year and a half ago or longer) there wasn’t any taxpayer dollars involved——heck, people were still investing in AIG. These were employment agreements between employees and employers——legally enforceable agreements. My opinion, and I’m not an attorney, the only way AIG can legally get out of these agreements is to file backruptcy and let the courts re-negotiate these employment agreements.

    The only difference between my analogy abut the AIG employees and the band———is the number of zeros in the amount being paid.

    The House of Representatives have passed the bill to impose cofiscatory taxes on the AIG employees (upto a 90% tax-rate). Do you really think the Senate will pass it? And if they do, will Baraack Hussein Obama sign it into law? Do you really think it’s right for Congress to single out a small group of people for a special tax rate——and if they can do it to them, what’s to stop them from doing it to other groups of taxpayers?


  6. //

    no matter if you think the bonuses are right or wrong. The gripe of the people is. If they needed the bailout so bad! And AIG is about to go under becouse the have no money! They how can the afford these bonuses when they needed our money to stay open. Or why did the take bonus money and add to the bail out so they can get back on the feet, and not give it away. And AIG did do the bonus pay out until AIG had our money. so to speak. No matter if they had a “written contract” or not. The timeing was bad.
    Hell it would have that bad if ther would have cut the bonuses in half. pay the workers, then the other half in to AIG to keep them aflot. Or the other half back in the mark it.


  7. //

    Randy Snodgrass :no matter if you think the bonuses are right or wrong. The gripe of the people is. If they needed the bailout so bad! And AIG is about to go under becouse the have no money! They how can the afford these bonuses when they needed our money to stay open. Or why did the take bonus money and add to the bail out so they can get back on the feet, and not give it away. And AIG did do the bonus pay out until AIG had our money. so to speak. No matter if they had a “written contract” or not. The timeing was bad.Hell it would have that bad if ther would have cut the bonuses in half. pay the workers, then the other half in to AIG to keep them aflot. Or the other half back in the mark it.

    sorry about the typos, for it was early and I was still asleep when I typed this


  8. //

    OK, the contracts were entered into a year and a half ago, before the bailout but the bonuses were to be paid for wise investments. Where are the wise investments? There are none and the bonuses should not have been paid. This is nothing more than corporate greed. Plain and simple.


  9. //

    How do you know they were to be paid for wise investments? I understand they were to be paid based upon the amount of “bundled mortgages” that they unloaded to other investors. These employees did what they were required to do based upon their written employment contracts. It’s not their fault the mortgage market “went sour”.


  10. //

    Oh, and I also read this morning where Baraack Hussein Obama is trying to “temper” the public outrage that these bonus payments have caused. Before it’s over with, I bet these employees get to keep their bonuses, without the confiscatory tax rate of 90% that The House wants to hit them with.


  11. //

    @gripes
    Do you have any education at all? They are investment bankers. WTF do you think they get paid to do? Bundled mortgages are nothing more than bad investments. I’ve seen some argumentative people in my time but you take the cake.


  12. //

    Actually, By-Tor, if you’d read a newspaper every once in a while instead of listening to Rachel Maddow on MSNBC or getting your news from websites like this one, you would read where a lot of these people that were given these bonuses work in accounting, IT, and as administrative assistants. Yea, some got million dollar bonuses, but that was part of their compensation package——–if they didn’t meet sales bench-marks, they didn’t get bonuses.

    And I do have an education—an MBA if fact.


  13. //

    Sorry, By-Tor——IT stands for information technology.


  14. //

    grips, you have made your last post on this site. You bring nothing but negativity to this site and continue to post comments intended to be inflammatory under the guise of free speech. Go do it somewhere else.


  15. //

    I guess you have to be a “bleeding-heart liberal” to post on this site. If you don’t get in line with the Baraack Hussein Obama Parade, you’re not allowed to post here.


  16. //

    Far from it, jackass. Your negative comments haven’t been limited to political discussion related to Barack Obama (notice the correct spelling), it’s been on every topic you’ve replied to on this site except in the interview with Brian Hart. Goodbye and good riddance.

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