quote Originally posted by Phranc: Didn't Dodd write into the law that it was ok for these bonuses? They weren't a big surprise except to those who want to feign outrage. How much did Dodd get from AIG?

Not only that, but Dodd was also the largest single recipient of donations from AIG receiving over $103,000 during the 2008 election cycles. Not that our left wing friends on the forum would mind. They are too busy spending their new found $13 bucks on their vice of choice to care. :P

Guess who the second largest recipient was? Barrack Hussein Obama, receiving $101,000 from the ailing company. Not that any of the Liberals on the forum will care, as long as Obama keeps providing them with their handouts.

http://www.foxbusiness.com/...d-cracks-aig---time/

[This message has been edited by loafer87gt (edited 03-18-2009).]

Although I don't like what I'm hearing, seeing and reading, AIG covered it's bets by donating to all of the Presidential candidates. They just donated quite a bit more to the Dems. Was that because they thought the Dems had a better chance of winning and wanted favorable treatment, probably. Funny how that goes. Senate Banking Committe CHAIRMAN Chris Dodd understands how things work in Washington. The Congress and President can raise all the hell they want to now, it's too late. They allowed this to happen. I sincerely hope the American people wake up by November of 2010.

Ron

I can't help thinking..is this a round about way of making sure that in the next elections, their competitor cannot be funded by the people who funded them into office?

Simple solution, give them 165 million less next time they need it.
We all know they will be back for more money, and we all know that it will look like they did give them less on paper, even though they won't, but it sure will keep the sheeple quiet.
Problem solved.

I think I just may get into politics.

[This message has been edited by railshot (edited 03-18-2009).]

So if I have Grundy car insurance, and they are backed by AIG, can I expect payout if I file a claim?

quote Originally posted by 2.5: So if I have Grundy car insurance, and they are backed by AIG, can I expect payout if I file a claim?

Sure, right before your policy is canceled.

Ron

Is that standard procedure there even before hard times then?

Flippity floppity, .
From Turbo Tax Tim saying he did just found out about the bonuses, to saying he found out March 10th. Till a taped session of Capital Hill dated March 3rd shows a Congressman specifically asking him about the bonuses which were to be paid.
To Chris Dodd saying he crafted an amendment, the "Dodd Amendment", which specifically forbid the bonuses. That that amendment was changed by someone he did not know behind closed doors in a closed session. A day later, he admits that he did change the amendment to include the bonuses at the insistence of the Executive Branch. He blames a Treasury staffer. , ?
Lies lies lies, now this.

quote linky The attorney general of Connecticut said Saturday that he is asking American International Group Inc. why documents appear to show the company paid $53 million more in bonuses to its financial products division than previously reported.

People need to stop worrying about the bonuses and worry about getting payback on the entire bailout - not just 1/10th of 1% that was given in bonuses.
The bailout was written to allow the bonuses. Right or wrong, that's the legislation that was passed. It was a bad idea, but that's the Hope and Change American wants. Deal with it.

And learn going forward. Next time AIG comes to the trough, let them fail.
No one is complaining about how Lehman Bros. spend their bailout money. Because we let them fail.

This isn't much more than a test balloon for the real plan. And that is the deep regulations of executive compensation for every company in America.

You think I'm joking? Obama wants to have complete oversight on all executive pay for all banks, wall street firms and many other companies (not just those receiving tax payers bailout money.)

http://www.nytimes.com/2009...tics/22regulate.html

quote Originally posted by Wichita: This isn't much more than a test balloon for the real plan. And that is the deep regulations of executive compensation for every company in America. You think I'm joking? Obama wants to have complete oversight on all executive pay for all banks, wall street firms and many other companies (not just those receiving tax payers bailout money.) http://www.nytimes.com/2009...tics/22regulate.html

This is the right answer.

All of this noise about AIG was simply to get people to support the idea of added regulation. And not just added regulation of banks and other financial institutions, but also to get people to support the idea that the govt should decide what is too much for one person to make. Don't kid yourselves. Obama and crew knew all about the AIG bonuses, and allowed them to proceed simply to fan the flames of public disgust.

quote Originally posted by Formula88: People need to stop worrying about the bonuses and worry about getting payback on the entire bailout

I do realize that it is just 1/10 of 1%. My problem is not with the bonuses per say (though I do not feel they are deserved). We allowed them to have them.
My problems are with the lies.

Can anyone tell me why the government should have any say on the limits of executive pay in private companies that are not receiving any bailout funds?
Democrats? Please, enlighten me. As a Republican I see this as the antithesis of capitalism and free trade. Please tell me why I should think this is a good idea.

Only evil stupid monkey Bush would try to manipulate the public that that guys. Obama-Lincoln-Jesus-FDR would never do it. And if he did it would only be to help the poor slobs who don't know any better. Don't forget that it may look like the wrong move now but Biden promised it will be whats best for us.

AP • New York Times • MSNBC • USA TODAY • FOX News • Gen Financial
Connecticut seeks answers on AIG bonus documents

Email this Story

Mar 21, 12:51 PM (ET)

By JOHN CHRISTOFFERSEN

NEW HAVEN, Conn. (AP) - The attorney general of Connecticut said Saturday that he is asking American International Group Inc. (#HYPERLINK "http://research.scottrade.com/public/stocks/snapshot/snapshot.asp?id=1&symbol=AIG"AIG) why documents appear to show the company paid $53 million more in bonuses to its financial products division than previously reported.
Documents turned over late Friday show AIG paid $218 million in bonuses last weekend, higher than the $165 million that was previously disclosed, said the office of Attorney General Richard Blumenthal, who had issued a subpoena.
Bonuses were "showered like confetti" on AIG employees, Blumenthal said

http://www.msnbc.msn.com/id/29815643

I am so angry and saddened by this I really don’t know what to say. But I’ll try.
--------------------------------------------------
I have come up with some new rules:

Executive Pay will be no more than $1 dollar per hour. You don’t do anything anyway.

Executive Secretary pay will be $2 per hour ‘cause we all know you do all the work anyway.

Farmers will receive .50c per hour because you can easily work more hours to make up the difference.

Body shop guys, .25 c per hour because it would be better if we total out all cars and buy new ones.

Unemployed people will receive $1 per hour ‘cause that’s only fair.

Congress will still receive $250,000 per year. (plus side benefits)

In a strange twist of fate, video producers will receive $1000. Per hour, because we all need tv.

Please help re-elect me, cause I need the job.

The Pres.

How much will you pay us to get the position MM?

But that farmer thing?--tsk tsk!!

I know some of my pay schedule may not seem fair. But congress and I know whats best for you all. ...