400 AIG Financial Unit Employees Promised $650 Million in Bonuses

March 17, 2009

  • March 17, 2009 at 7:13 am
    Darwin says:
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    “Retention” bonuses for people who are not qualified to work at the order window at McDonalds, exclusive, private golf courses in Westchester County, rewards for failure – all compliments of the American taxpayer. Worse than what we pay Congress for. We need to forclose on AIG.

  • March 17, 2009 at 8:18 am
    EF says:
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    I’m not a defender of AIG, but I say let them pay the bonuses. Since the IRS hits you at an ungodly rate for bonus pay, we as tax payers will get some of our money back from AIG. I see this as our best opportunity to recoop some our loss. Our other option is to not let them pay the bonues, lose the tax money, and let that money fall into a growing black hole…

  • March 17, 2009 at 8:25 am
    William Morris says:
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    How in the world do bad actors who ruin the show get invited to stay, and pay them bonuses for incompetence? Talent? They should be locked up for stupidity.

  • March 17, 2009 at 8:31 am
    brandon says:
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    Big mistake from AIG, they should have stopped these bonuses from going out. They were worried about the contractual obligations, if someone is supposed to get a $6.5 million bonus and then that is wiped out by a management decision you better believe you will get sued. Even getting sued and the costs associated with that will be less than the backlash they are receiving for paying them out. This may be the straw that breaks AIG’s back.

  • March 17, 2009 at 8:37 am
    ComradeAnon says:
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    Funny, the bailouts of the banks didn’t require any sort of salary concessions like the automakers bailout did.

  • March 17, 2009 at 8:58 am
    Darwin says:
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    AIG = “Ain’t I’m Greedy”!

    enough said………

  • March 17, 2009 at 9:44 am
    Jimmy says:
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    Come on Darwin, it is an evolution. It isn’t going to stop overnight.

  • March 17, 2009 at 11:35 am
    Scooby says:
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    Enough is enough, take action, attend Wall Street protest on Fridayd April 3rd!
    http://www.bailoutpeople.org/

  • March 17, 2009 at 12:46 pm
    Jazzy says:
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    THE GOVERNMENT BAILS OUT THESE GREEDY – NO CONSCIENCE PEOPLE AND THEY ARE STILL GOING TO GET BONUSES. I WISH I COULD SCREW UP AT MY JOB AND GET A MILLION DOLLAR BONUS. IT’S LUCACRIS – OBAMA SHOULD PUT THEM ALL IN JAIL.

  • March 17, 2009 at 12:47 pm
    JA says:
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    HA HA HAHA HA, You can’t stop us. NA NA NA Foo Foo!

  • March 17, 2009 at 12:53 pm
    Sarah says:
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    Both will go down in history as worse case examples of incompetence. Intrestingly, both were rewarded for failure. Go figure.

  • March 17, 2009 at 12:55 pm
    Dread says:
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    The insidious and incestual rats nest called the “financial” industry in lower Manhattan creates its own rules that no other business subscribes to. It does this to guarantee itself above average compensation regardless of economic conditions or personal performance. The “guaranteed retention bonus” is their creation to protect themselves. They hide behing the mantra of “it’s a legal contract” so they can’t be questioned. And, far be it for any lawyer to question the validity of such contracts when the money being paid ISN’T THEIRS. That simple fact should void the contract and the payments. But, nobody wants to rock the boat and attract attention to themselves.

    These people were responsible for a worldwide economic crisis. They should be lucky to have jobs. They should not escape the pain of what they caused the rest of the world. I say challenge these bonuses. What will these prima donnas do? There is no one else who will hire them in this economy. If and when things improve, and if said improvement is attributable to their efforts, revisit compensation. But for now, common sense needs to prevail, not an outdated and completely illogical paradigm. Their behavior deviated so far from good business judgment they should all be fired, not coddled to “help un-ravel a complex problem”. Everyone knows what the problem is and there are plenty of good financial folks available to step up to the plate. It’s time to clean house.

  • March 17, 2009 at 1:02 am
    matt says:
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    Maybe it was just a typo and they actually meant “re-train” that talent….not retain that talent.

  • March 17, 2009 at 1:11 am
    Fire with Fire says:
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    Why can’t we, as the American Public, file suit against the employees receiving bonuses, in lieu of them suing AIG for non-pay?? I’m sure we have enough lawyers who would jump at the chance of a fully supported class action!

  • March 17, 2009 at 1:14 am
    Joe says:
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    If AIG went bankrupt – where would the bonuses be in the scheme of things??? The government should have addressed this before agreeing to any more money.

  • March 17, 2009 at 1:15 am
    Insurance Guy says:
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    Come on people. This is just a smoke screen to destract from what Obama and crew are doing and have done. They gave democrat doners and buddies billions not to mention 93 billion went to foreign banks. This takes the heat off of Obama, Frank, and Pelosi. The liberal media is a willing acomplice.

  • March 17, 2009 at 1:16 am
    David says:
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    Who does business with this division anymore?

  • March 17, 2009 at 1:20 am
    Andrew says:
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    Nice try to rewrite history, Insurance Guy. But AIG blew up under Bush’s watch — as did the rest of the U.S. economy. Taking responsibility is not a Republican trait — but it doesn’t mean people forget who messed up America in the first place.

    PS: Did Bush find Bin Laden yet?

  • March 17, 2009 at 1:21 am
    Dan says:
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    This suggestion has merit. The problem is, who is going to pursue it? I’d participate in the class.

  • March 17, 2009 at 1:22 am
    CJB says:
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    AIG employees should receive the bonus with their PINK slip attached. I agree that this type of talent should not be retained, however they should be removed.
    This is not the type of talent we need in the USA. How disgusting!!!

  • March 17, 2009 at 1:26 am
    David says:
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    Here we go with the “Obama the Villian” charges, alleging things he has not even done. Bail-out money went to AIG without delay, without strings attached, oversight, review, etc in the Fall when Obama was nowhere near the White House. This was orchestrated by former Treasury Secretary Paulson so places like Goldman Sachs (his old company) would not go “belly up”.
    What foriegn banks has Obama rewarded?
    Let’s hear some specifics….details.
    What about our banks who received TARP money, in the Fall, without any type of review.

  • March 17, 2009 at 1:30 am
    Arbor says:
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    Insurance Guy,

    You blame Obama,who has been in office for a few weeks, when Bush sat at the helm for 8 years.

    The damage from of all this mostly germinated during Bush’s tenure.

    Obama inherited it, not caused it.

  • March 17, 2009 at 1:32 am
    Lancer says:
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    Retention!!! Like hell! Rentention is they get to keep thier job and benenfits. How many other workers have lost the job and benefits due these screw ups. And these folks get a bonus for not quitting.

    If you have AIG on your resume then that makes me think you are not the kind of person I would want to manage my business and or my money!

  • March 17, 2009 at 1:32 am
    Linda says:
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    I have 11 year old grand daughters who have more applicable talent that the folks who tanked the country’s finances. Why would anyone want to retain them?

  • March 17, 2009 at 1:33 am
    Will work for food says:
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    You are kidding right? Obama, Frank, and all the democrats were telling everyone we must rush the bailout or the economy will colapse. Sure Bush was a part of it and he was an idiot also. I am not a republican. They are backrupting our country. At what point is the current administration and congress going to be held responsible. The democrates have had congress for over two years and and the white house. Who are you going to blame 4 years from now. The democrats control everything now so lets see what happnes.

  • March 17, 2009 at 1:38 am
    Elaine says:
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    If my mind serves me correctly, bonus paychecks traditionally have been awarded for job performance when there is a profit – not when money has to be borrowed to keep the business afloat! What are these people thinking – and better yet, how crazy are we to have given (loaned) them any money??

  • March 17, 2009 at 1:39 am
    Mike says:
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    Sarah,
    You are a retard. Why is it that someone needs to throw out ridiculous political comments. There is plenty of blame for everything that has happened in this world and the financial system.

  • March 17, 2009 at 1:41 am
    SFOInsuranceLady says:
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    “AIG has promised retention bonuses totaling more than $1 billion, with nearly half of the sum earmarked for the financial products unit. It says it must pay the bonuses in order to retain the talent.”

    Some talent……lose $30B for your company and still have job security….where do I apply??????

  • March 17, 2009 at 1:43 am
    Alphonse Denayer says:
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    It is refreshing that the reporter had the alacrity to distinguish between insurance operations which are now under a separate corporate structure and subject to state insurance department regulation, highly profitable and well managed (as insurance companies go) versus the financial products division in London which is the cause of this mess as a result of issuing credit swaps dependent on their credit rating.

    The key is that the boob in chief and his minions in DC do not have a clue what is going on here. This was clear from listening to the Senate testimony by the Federal Reserve reps wherein it was agreed that none of the mortgage tranches guaranteed by AIG Credit Swaps were in default. This of course is contrary to the misinformation generated by the talking heads on the news stations talking about fictitious AIG mortgage insurance on defunct subprime mortgages etc.,. The ignorance of the media merely plays off the gross ineptitude of the moron in chief and his minions.

    This of course means that DC has taken no actions to solve the problem as they do not understand it or accurately characterize it. This means no taxpayer money need have been spent if the Government would have guaranteed the AIG credit swaps as AAA. This means that none of the billions foisted on the nation’s banks is accounted for or given oversight of any meaningful nature.

    The other alternative of course is that the government understands exactly what is going on and is deliberately undermining our economy for ulterior purposes.

    In any event, it is clear that any anticipation of a bull market is far too premature. Bunker down.

  • March 17, 2009 at 1:49 am
    Interested says:
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    Just a few minutes ago I heard on the radio (a Fox station) that congress (Chris Dodd) new about these contracts at the time they doled out all this money to AIG.

    The same broadcast also stated, that 11 of th “retention” bonus recepients were no longer with AIG. There is deception on both sides – Government and AIG

  • March 17, 2009 at 1:51 am
    Devils Advocate says:
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    These folks at AIG earned their jobs fairly. Once in those jobs, somehow they manged some very nice compensation contracts. These contracts are fair and legal.

    Its not their fault. They are just using capitalism to their advantage.

    These bonuses are part of capitalism. Taking away the money from these employees just because they were able to secure better employment contracts would be socialism.

  • March 17, 2009 at 1:52 am
    Interested says:
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    Why can’t you Bush bashers just stay with the subject?

  • March 17, 2009 at 1:57 am
    AGENCY PRINCIPLE says:
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    SOME OF THE BONUS MONEY—$165 MILLION- IS GOING TO THE LONDON OFFICE OF AIG—NOT UNDER IRS SUPERVISION. WHAT TAX WILL BE GET OUT OF LONDON?
    TALENT? YOU HAVE TO BE KIDDING…WHY REWARD THOSE THAT MADE THE DECISIONS THAT FORCED THE COMPANY INTO THIS MESS?
    STOP ALL BONUS TO AIG EMPOYEES–THEY SHOULD BE THANKFUL JUST TO HAVE A JOB. THINK OF ALL THE HUNDREDS, THOUSANDS WHO LOST THEIR JOBS, HOMES, ETC DUE TO AIG! NO BONUSES!!!!!!!!!!

  • March 17, 2009 at 1:57 am
    Art says:
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    This whole thing is Obamas fault – If it wasnt for George Bush, terrorists would be running this country – Osama Bin Ladin would have invaded us and took over long ago.

    We are in debt to Bush, he did a good job, Obama is the one screwing us up.

  • March 17, 2009 at 2:01 am
    Bill says:
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    >This whole thing is Obamas fault – If it wasnt for George Bush, terrorists would be running this country – Osama Bin Ladin would have invaded us and took over long ago

    Out of curiousity, how did Bush’s search for Bin Laden work out?

  • March 17, 2009 at 2:02 am
    Steve says:
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    With all those millions going to a select wealthy few, guess that socialism thing really isn’t working out. Bush lives!

  • March 17, 2009 at 2:07 am
    worried says:
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    Hey Bill,

    It worked out real well as we have not had a terrorist attack since 9/11. Lets see what happens when Obama destroys our military like his buddy Jimmy Carter did.

  • March 17, 2009 at 2:07 am
    Mario says:
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    Liquidate AIG for whatever amount you can get. Congress has stated that the people are 80% oweners of AIG. As a onwer who bailed out AIG, I would have stopped all bonuses. The congress is blindly giving AIG whatever they want at the taxpayer expense. I say heavily tax anyone who received a bonus from AIG. These executives who created this mess got bonuses for almost bankrupting a company. You get bonuses for good performances not poor performances. As an owner in AIG, I’m stating that we clean house and start fresh.

  • March 17, 2009 at 2:08 am
    George says:
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    Here is my question. When you buy a Company, as the Government did AIG, usually due dilligence is done. Why did our new President not have this done instead of just giving them the money. If so, we would not be having these discussions. Therefore, I can’t blame the employees. Our Government didn’t do their job.

  • March 17, 2009 at 2:09 am
    Truth says:
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    Hey worried, 911 was on Bushs watch, so he didnt keep us safe – Bin Laden hated him and thought he was week, thats why he attacked.

  • March 17, 2009 at 2:19 am
    Jarana says:
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    My understanding for a change in ownership (which would be an 80% ownership by taxpayers) means any previous contracts would need to be amended or renegotiated. If the AIG that entered into the bonus agreements no longer exists, then the contracts are no longer effective.

    And 9/11 was on Clinton’s watch – it took the terrorists a while to put their plan in action. But, the media covered that all up after their initical reports on pilot training, etc. Bush had to deal with a terrorist attack on US soil – something no other President ever had to do. And our government has 3 legislative branches – the President doesn’t make all the decisions by himself.

  • March 17, 2009 at 2:26 am
    Another Agency Principal says:
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    Why not sue AIG for this behavior. We’re all pissed & as Americans, we don’t have to take it any more. We must have some connections with attornies that would get a class action suit going. Citizens of the United States of America v AIG. Let’ just do it!!

  • March 17, 2009 at 2:31 am
    kathi says:
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    Someone on NPR slipped this am and referred to this pay out as deferred compensation – which is not a bonus. Does anyone know if the pay out is in fact compensation that was already earned? It would make sense to call it a retention. People are quitting just to be sure they get whatever they can of the compensation they chose to defer until retirement.

  • March 17, 2009 at 2:35 am
    MeanJean says:
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    You have to read Dread’s post. In addition to being entertaining, it’s on point. Question is, how does the American public fight this kind of abuse? Government and big business obviously aren’t capable of doing the right thing.

  • March 17, 2009 at 2:40 am
    Jen says:
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    Maybe instead of having the FBI hand out the bonus checks (see previous posts) we could have some Americans that have lost their jobs, houses, self respect ring their door bells and hand them their “well deserved” checks for $1,000,000…….

  • March 17, 2009 at 3:01 am
    Mario says:
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    Obama stated that he would not allow the weathly to have anymore luxuries. The Congress who is to act on the behalf of the people did not do their job. Every American who can vote should vote the people out in the next election.

  • March 17, 2009 at 3:02 am
    and then says:
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    ….along with a swift kick in the yambag for good measure. I’m sure there’d be no shortage of patriotic americans willing to perform this duty on behalf of their country.

  • March 17, 2009 at 3:05 am
    Crystal Clear says:
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    You want to be able to get the information out of these hopefully ex–employees when you need it? Subpoena the SOBs and if they don’t show or don’t talk, it’s slammer time.

    Can’t touch that…

  • March 17, 2009 at 3:06 am
    Talented says:
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    What talent? I’m the talented one. I wrote $4mm in NB with Hartford over 2 years with a loss ratio under 10%. I got about $9k in bonuses.

    These morons are talent? By what definition?

    Now AIG sounds government owned, paying bonuses to these morons.

  • March 17, 2009 at 3:10 am
    ixneonthefavre says:
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    Thanks for the explanation, Satan.

  • March 17, 2009 at 3:16 am
    nobody important says:
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    State Farm Insurance supervisors systematically demanded that Hurricane Katrina damage reports be buried or replaced or changed so that the company would not have to pay policyholders’ claims in Mississippi, two State Farm insiders tell ABC News.
    Kerri and Cori Rigsby, independent adjusters who had worked for State Farm exclusively for eight years, say they have turned over thousands of internal company documents and their own detailed statement to the FBI and Mississippi state investigators.

    In an exclusive interview with ABC news, that was broadcast on 20/20 and World News, the Rigsby sisters say they saw “widespread” fraud at the State Farm offices in Biloxi and Gulfport, Miss.

    “Katrina was devastating, but so was State Farm,” says Cori Rigsby.

    At one point, they say State Farm brought in a special shredding truck they believe was used to destroy key documents. State Farm says shredding is standard to protect policyholders’ privacy.

    The sisters say they saw supervisors go to great lengths to pressure outside engineers to prepare reports concluding that damage was caused by water, not covered under State Farm policies, rather than by wind.

  • March 17, 2009 at 3:50 am
    Judith Stevens says:
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    There are not enough words in the dictionary to tell the story of how I feel regarding this latest abuse of the taxpayers monies. If it were not for the billions of dollars we gave AIG they would be bankrupt at this moment. So what do they do in the middle of our country’s economic crisis, give millions to employees and the employees accept it. NO MORAL, NO THOUGHTS GENERATING WITHIN THEIR MINDS, ONLY GREED, LOOKING OUT FOR NO. ! DISGUSTING, they all should be INCARCERATED without any keys to release them, maybe then they might begin to have an inkling of how most of America is suffering. I think personally they should have never received any of the taxpayers monies and allowed to wade the tsumani they created. Government for the people by the people, where has it gone to.

  • March 17, 2009 at 3:51 am
    plain dumb says:
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    to Nobody Important, and your point?

  • March 17, 2009 at 3:56 am
    Jen says:
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    Way too funny.

    Well done!

  • March 17, 2009 at 3:58 am
    Nan says:
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    Only union contracts can be broken… finance industry contracts are sacred… after all, those financial gurus work so much harder than union employees…. NOT!

  • March 17, 2009 at 4:09 am
    Truxton says:
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    With so many insurance companies out there that pay claims promptly and fairly it’s amazeing to me State Farm has any policyholders.

  • March 18, 2009 at 7:33 am
    EHutton says:
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    Darwin- I sure hope you are not saying that McDonald’s workers are not smart! Seems like you know a lot about working at McDonald and the qualifications required to work the windows. I am pretty sure that there are talented people at the company; not everyone should be lumped in negatively with the Financial Products Division employees that created this mess. The fact is that when this crisis began other companies immediately started recruiting top AIG employees.

  • March 18, 2009 at 9:10 am
    greg says:
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    Not sure why we teach history any more! This mess all started before Jimmy Carter!
    This all started with the “Community Reinvestment Act” everyone should own a home. Congress forced the banks to make loans that could not be paid back and now we have this mess!
    Please, before anyone blames anyone look in the mirror. How many of us have refinaced our mortages to go on vacations, buy new cars etc… and now are upside down and can not make the payments.

    I believe America as a whole is reponsible for this mess not Bush, Obama(how ever he is making it a bigger mess)and Not AIG.

  • March 18, 2009 at 9:20 am
    Nan says:
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    Well, when I look in the mirror I see someone who has NOT treated their home as an ATM machine. My mortgage is almost paid for..but, my IRA and 401K have been hit hard for the second time since I set them up. As a small business owner I know that I can’t honor any contract unless I’m producing money to fund the contract…. how did AIG or any of the financial institutions make contracts that they couldn’t afford to fund??? Why aren’t the signers of the contracts held to their committment? Maybe they didn’t fund their E&O?? or professional liability??? Talk about welfare??? these welfare recepients are the scum of the USA.

  • March 18, 2009 at 10:45 am
    kathi says:
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    yes, when will history teach us anything. Remeber the S&L meltdown, the junk bond crisis? Every 20 years the same psycopaths get around regulation and rob us blind while we complain about the welfare mothers and illegals. Will we ever learn?

  • March 18, 2009 at 12:10 pm
    Alphonse Denayer says:
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    Our historical reality is that government is the cause of our problems and has no clue or capability to solve them. As case in point, the source of the current crisis is the CRA placed on steroids when Bill Clinton directed FHA to require Fannie/Freddie to make 50% of their loans to nonconforming borrowers. They did. We are paying the consequences. As a solution, the government began handing out billions of dollars to financial institutions with no due diligence, no oversight, no accountability and no idea how the money was to be used. What business owner would hand out 10% of their revenue without due diligence. The AIG matter, like the banks, was very badly handled. The problematic issue is the financial products group which had nothing to do with the AIG insurance business. This unit should have been spun off and placed in receivership. There was no need for the taxpayer to spend a dime here.

    The formula is simple: government involvement = disaster.

  • March 18, 2009 at 12:30 pm
    bubba says:
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    “Both will go down in history as worse case examples of incompetence. Intrestingly, both were rewarded for failure. Go figure.”
    Excuse me? We haven’t even hit 100 days in office and we’ve already promised to grow the deficit far beyond anything George Bush could have ever imagined. George is no saint, but you can’t use a financial crisis to spend gobs of money on things that have nothing to do with the crisis when there is no money to spend. It makes Bush’s incompetence look like the good ol days.
    Also, you shouldn’t give money to AIG knowing that they have these bonus contracts to fulfill, you should let them go bankrupt so they can renegotiate the contracts. Barack and Chris Dodd were the two biggest recipients of AIG campaign donations, so ultimate the AIG folks are going to skate away with their money.
    Where’s Ken Lay when you need a guy who got in trouble over chump change.

  • March 18, 2009 at 12:41 pm
    Sal says:
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    Yo, Bubba,

    Clinton left a surplus, Bush created a deficit. Now, take Clinton’s surplus and then subtractO bama’s spending.

    Can’t be anything near what Bush spent with a drunken GOP congress urging him on.

  • March 18, 2009 at 1:42 am
    Mike says:
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    Bubba, I believe McCain took a ton of money from AIG too so whats your point?

    Every fortune 500 company gives a lot of money to both sides.

  • March 18, 2009 at 2:22 am
    bubba says:
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    My point on the AIG bonuses is that the G folks are getting that money as a political favor. The politicians are trying to play both sides on this, exempting the bonuses in the bailout legislation, and now acting outraged that bonuses are being paid.

    As for the deficit; If it was wrong for George Bush to run up a deficit, it’s wrong for Barack Obama to run it up even more. Period.
    We’re doing all this spending in the name of fixing the economy, but it’s really about fundamentally changing the United States; implementing as much socialism as possible, as quickly as possibly. If that’s the direction America wants to go, so be it. However, it should only be done if America can afford to pay for it.
    We’re printing money at an unprecidented rate. If we continue on this course, we’re in deep doo doo when the rest of the world decides to stop backing up the money we’re printing. People will be crying out for a savior. Germany went down the same road. The people cried out for a savior. Seriously, it worked out well for them. What? I didn’t see any Jews. Nothing to see here.

  • March 18, 2009 at 2:30 am
    Anonymous says:
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    Excellent review in the WSJ today. Time to bring out the torches and pick forks and kick them all out.

  • March 19, 2009 at 9:44 am
    Nan says:
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    Although there’s lots of outrage over AIG and Obama’s budget, what is being overlooked is that we are still in THE WAR ON TERROR..and the costs to rebuild the countries we have damaged.. Bush was dishonest when he omitted war funding from his budgets which kept those amounts out of his deficit balance projections… selective accounting.. Obama has INCLUDED the costs of the war and our obligation to our veterans… seems the economic news has put the war and it’s funding on the back burner…. until we resolve the war issues we cannot get out fiscal house in order. We are not comparing like for like when we talk about GB and his projections vs reality. The financial division of AIG should be placed in receivership!

  • March 23, 2009 at 10:00 am
    SHOULD HAVE LET THEM SUFFER! says:
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    We wouldn’t be spending DAYS OR MONTHS listening to this crap that we’re paying for now. This country is in shambles and nobody is going to keep trusting the Obama administration with this crap! This stuff burns me up! This is NOT the first time they’ve (AIG) been bailed out so why are we doing this again???? UMMMMM HELLO!!!! PATTERNS LIKE THIS SHOULDN’T BE SAVED! Ugh, before I end up with a bad mouth, I’ll just end it here….

  • March 23, 2009 at 10:01 am
    jerry daniels says:
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    You’ve got to be kidding??????

  • March 23, 2009 at 10:01 am
    jerry daniels says:
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    You’ve got to be kidding??????

  • March 23, 2009 at 10:05 am
    SHOULD HAVE LET THEM SUFFER! says:
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    ….okay, just 2 more things….
    1. While most every other business is suffering in this crappy economy, they’re living large – CONSIDERING WE’RE PAYING FOR THEIR LUXURY! WHATEVER!
    2. If they claim bankruptcy, won’t that help with their “legal” problem? I mean, that’s what a lot of the small businesses are having to do to get out of their debt…why don’t they?

    JUST CLOSE SHOP AIG….JUST CLOSE!!!!! I’M SICK OF YOU AND I’M NOT THE ONLY ONE!

  • March 23, 2009 at 10:41 am
    Disgusted says:
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    AIG should not have received one penny from taxpayers. The insurance side is solvent…let the rest fall by the wayside. Why do they want to retain the “talent” that put them under. What are they thinking!!!…that we have no brain to see their disdain for all of us. It’s disgusting and a disgrace. They will be judged some day.

  • March 23, 2009 at 2:24 am
    Fed Up says:
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    Retention bonuses? WTF! Do you really think those employees are going to go away and find other jobs? Where? Who is going to hire them? Really, I say let the bozos go out into the real world and see if they can get a job. The truth is that no one is going to leave so they were stupid to fall for extortion and enter contracts that provided for such bonuses. Never let your employees hold you hostage. Even if they do get a job, not sure they will be able to keep it because they might have to actually perform like the rest of us in corporate America.



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