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Outrage grows over AIG bonuses

March 17, 2009 by  

Outrage grows over AIG bonuses News that the troubled insurance giant AIG has paid multimillion dollar bonuses to its staff as the company was being bailed out by taxpayers has prompted calls for an investigation.

According to newly released information by New York Attorney General Drew Cuomo, AIG paid 73 employees bonuses of more than $1 million. The largest bonus paid was $6.4 million and seven more people received more than $4 million each.

In total, the company paid $165 million in bonuses and compensation, including to traders at its financial products division whose activates contributed to the near-collapse of the financial system.

In the last few days, Congress and President Obama have been firing a barrage of criticism at the AIG management and publicly discussing ways of blocking the bonuses.

Senate Majority Leader Harry Reid announced today that he will propose a tax on the money so that the "recipients of those bonuses will not be able to keep all their money – and that’s an understatement," according to CNN.

To date, American taxpayers have provided some $170 billion dollars in bailout funds to keep the company from collapsing. AIG also received an $85 billion loan from the Federal Reserve.

AIG lost $62 billion dollars in the fourth quarter of 2008 while holding more than 74 million insurance policies in 130 countries, which suggests the possibly catastrophic impact of the company’s troubles for the financial security of its customers and the economy at large
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  • Jan

    What troubles me is the outrage over less than .1% being paid when this outrage should be directed toward those who created this mess in the first place and who now act as if they are innocent bystanders… the democratic house wrote this and other obscene spending legislation with no time for discussion or reflection on the unintended consequences. They are using it to take over our private sector, regulate and micromanage it and run it into the ground. Then they have the gall to blame “capitalism and greed”. This is fascism and Americans had better wake up.

    • Tom

      You have hit the nail right on the head! This whole AIG bonus thing is just smoke and mirrors designed to distract the public from the real issue. They are fully aware of that bonus provision (specifically put into the first “stimulus” (spending) bill by Senator Dodd) so they knew about it well before it became an issue.
      The real issue here is that this congress (and Obama) are hell-bent on controlling as much of our economy as possible. We are about to lose those essential constitutional rights that we, as American citizens, are entitled to.
      Yes, America had better wake up before we find ourselves ina country that strongly resembles the Russian/Soviet state

    • Brian

      I am concerned with our nation’s future with what Obama is doing with spending Trillions of dollars for ridiculous causes like $2,000,000 to study pig odor! and millions spent for politicians to have their own personal expensive cars and Golf carts to use at tax payer’s expense, for personal use! Obama should be arrested! He has yet to prove he was born in the USA which is a requirement to be president!
      What ever happened to being patriotic??? That word seems to be “politically incorrect” these days. Yes it seems like socialism to me when the courts can say no to the majority of votes! Whatever happened to “Majority Rules”?
      One matter that should be handled better by US politicians is defending jobs in the US more responsibly! In other countries they defend their people by helping defend jobs! This is often done from what I’ve seen where a company in another country wants to import their products to another nation but the other nation taxes the imports to the point that it is no longer profitable to import the merchandise and instead they are lead to manufacture the products in the country they are trying to sell their products to, thus providing more jobs for the people of that nation. Seems like a good plan that works for them. Why aren’t our politicians patriotic like this?
      Instead we mostly see every product made in China , Asia, etc for practicly slave labor! I heard recently that well a well paying job over there would pay only about $700 a year! Meanwhile places like Communist China don’t have any “national debt” like our country does. Instead they have an enormous surplus of money by taking advantage of their own people.
      Now we see even food imported into the U.S., thus putting more of our farmers out of work. And now I even hear there are plans to begin importing military equipment and so on from other countries too, instead of making it here in our own country! I really feel sorry for our soldiers who sacrificed their lives for our nation. Why should our own military be importing what it needs when it can be manufactured right here?
      Obama says he’ll help create new jobs but instead it looks like we may see another Great Depression! How often do you see products sold in stores say “Made in the U.S.A. anymore? We used to be one of the world’s leading exporters but instead now all we see is mostly imported items. That doesn’t help provide needed good paying jobs for our country, ya know? How does that help the economy?
      Still sometimes I think another Great Depression could be a blessing in disguise. I mean after the last Great Depression , many turned to God in the Great Spiritual Revivals we once had. Will we see this happen again I wonder? Let’s pray so.
      Aside from all the people who sacrificed their lives defending our nation I also really feel sorry for the dedicated Founding Fathers and all they contributed and sacrificed for our nation. It’s really sad.
      I can’t help but think that if not for our or recent generations sake , that if for any good reason that this nation should continue to be blessed for their work and sacrifices.
      It would really be sad to see the demise of this country after all the Founding Fathers and others did for it, as well as all the sacrifices that have been made. Somethings certainly need to change in our country and Obama’s plan doesn’t seem to be the way other successful countries have handled related matters in the past.
      We really need to put a stop to importing so much merchandise and start having it made right here again to provide more jobs for the future. Sadly many of politicians seem more interested in making money than ever being patriotic. That needs to change. If terrorists nuked Washington D.C. tomorrow, that may very well be a blessing in disguise sort to speak. I’d hate to ever see it happen but the politicians hearts don’t appear to be directed towards our nation’s best interest. They don’t appear to be even half as Christian as our Founding Fathers were. They appear to be the types the Bible mentions that God would rather spew out of His mouth. It’s really sad that we have such horrible leaders. How many times have you went to vote but wished there was a better choice to choose from? I’d sure wish someone like Jay Sekulow would run for president. He’s helped stop gay marriage in many states already among many other good deeds! Something Obama wants to put a stop to and considers what the Bible says as “hate speech”. Who the real prejudice ones here? The Christians or the Atheists? Atheism is a religion in itself, a form of belief. Why do they have the final say in matters? They’ll use the old excuse that Christianity offends non-believers! How is that not prejudice on their part?
      Please pray about these matters for our nation’s future.
      Thanks and God Bless!

      • David

        I could not have said it better. Brian, the sad part of all of this is that we out number them by a huge margin! we will unite and prevail, but we must start by our own media resource that will overtake the narrow sighted one the public is forced to see right now! They can try to take Gog out of Americans, however they will never take God out of us American’s!!! Bless you, and all true Patriots who are still free enough to fight for our hard earned RIGHTS!

    • Long Legs (Mohawk Indian)

      There is too much patisanship and mud slinging in this country, people need to take off their parties stripes and put the Amrican Flag on their shoulder. Look at all the scandals in the 8 years of Bush—Ken Lay (building 7 at the World Trade Center), Enron, Global Crossings, Lehman Brothers, AIG, etc… We can all throw mud around, and a lot of people have been, when we need to find solutions to prevent the few from taking total control over the many—this is not the way this country was designed!!!!

      • Thomas Davis

        Long Legs,
        You’ve GOt to be shitting me. You, presumably and intellignet being, can’t possibly believe that. If you do, I’m sorry.

        I can’t possibly be bipartisan so long as there are Democrats. Partisanship is the ONLY way to go. And yes – Bush was a disaster. Not so terrible as Obama but still a disaster.

        • Long Legs

          Dear Thomas Davis,
          You need to work on your intelligence a bit, for one minute you are saying, so long as there is Democrats you cannot be bipartisan—the next sentence says “Partisanship is the only way to go”?!?!?! You want to have your cake and eat it as well!!!
          Have a Nice Day!!!!!

      • Thomas Davis

        Dear Long Legs,
        To clarify, I said that I don’t believe in “bipartisanship”. For me, so long as there are Democtats, I can’t be bipartisan. I am strongly FOR partisanship. Makes the world go ’round, my man! Why should I be bipartisan when each thing the Dems want to do takes away a bit of my freedom? How can one be for that?

        Thanks for having courtesy to respond.

    • Suzanne Ferrell

      Amen!!

      • Long Legs

        First off I am not a man, I have disproportinately long legs like my father. I have to agree with you on one thing—Bush was a disaster, and in more ways than you know. What Bush did without everyones knowledge—was take away the freedom of mylife in just about every way imaginable. Al-Qaeda bought the house diagonalfrom mine in 1999 (two years before the Anthrax and 9/11/01). Bush treated me as if I were a Terrorist and not a witness to the Terrorists before and after 9/11/01. I am taking Criminal Justice Classesand have a 3.96 GPA. I want to make sure that what the Republicans did to me, does not happen to anyone-else. Instead of Bush sending me help as I asked for—he had me followed, bugged my house and phone, used my cell phone to locate me when I would turn it back on. How many times have you got ten 0′s on your cell phone? I voted for Hillary—she sent the FBI (2006) when I filled her in on the Terrorist activities in my neighborhood in CoralSprings.Remember how CoralSprings was on the news a lot after 9/11/01? I was writing to Senator Bob Graham (Fl.) about Coral Springs but Bush did not let anyone investigate this house diagonal from mine. Have a nice day!!!

        Long Legs (Mohawk Indian)

  • George

    Many Americans think that these bonuses were paid to these employees for work that they had done, until recently I was one of them. I have discovered through numerous news reports that the bonuses were paid to RETAIN these employees because they were already on the list of employees that were to be LAID OFF! If I knew that I was going to be laid off and I needed to find a new job, I’ll be dammed if I would continue to produce at 100% when I knew I needed to find that new job. However, if the company was willing to pay me a “BONUS” to remain/stay on the job, until my “lay-off” date, it seems to me that, that would be the same as hiring me to do a specific job as a “sub-contractor.” In addition, the price for me to do that job would be whatever the person who was doing the hiring and I had agreed upon, NOT THE TOTALITARIAN LEFT WING PUPPETS IN CONGRESS !!!

  • BillK

    How can Obama be blamed for the long building economic crisis if he’s only been in office since January? The bailouts for Wall Street and these large corporation were done under the Bush administration and approved by the Republican led Congress at the time. Bush came into office and inherited a budget surplus (in the black) from the Clinton administration, but soon turned it into a budget deficit (in the red) by being such a liberal spender. Have you people lost your minds regarding the actual facts? Don’t focus on what you believe or feel but focus on what’s actual. Or just keep being mentally deficient.

    • Glenn

      Bill, Before you calling anyone else “mentally deficient,” you really need to educate yourself about what has been going on in our government. Seems like you have been living in a vacuum to not to know that only one bailout was done by the Bush administration. Start by read up about The Community Reinvestment Act passed by the Clinton administration, which essentially set the stage for the economic downturn. During the last 2 years of the Bush administration, the Democrats took over the majority of Congress. Many of them (Christopher Dodd, Barney Frank et al.) received huge donations from the banks in question that were bailed out. Barney Frank even had a personal relationship with someone in Fannie May. Whenever the Bush administration tried to warn of the impending economic collapse, the Democratic Congress ignored them. The situation finally reached the breaking point in 2008, which led to the first economic bailout under the Bush administration. Obama & the Congress not only passed a second huge bailout bill, but also a so-called stimulus bill PLUS an Omnibus spending bill. All of these bills included thousands of unnecessary additional items tacked on to them known as “earmarks” and “pork.” These 3 enormous bills were signed into law by Obama. Both Bush’s and Obama’s bailout bills allowed large financial bonuses for bank employees that had received bailout money. Now the Congress is trying to deflect the blame for the bonuses onto the banks when it was the Congress, Bush & Obama that created this situation. In the short time Obama has been in office, he & the Congress have spent more money in 2 months than Bush spent in his entire 8 years including the massive debt Bush caused by the Iraq war. Now those are the actual facts and can be verified. So before you suggest that others have lost their minds or are mentally deficit, you need to face reality. Get back to us when you do.

      • Long Legs (Mohawk Indian)

        Glen, first off you mustt have a mental deficit, as you stated in the second to last sentence, instead of mentally deficient. For if you look at the difference between Bush’s and Obama’s actions you have disregard (Bush), and regarded action (Obama). Bush did not look under the hood of the engine he used, Obama is looking at every facet of the engine!!! We need to redesign the engine.
        You have strictly borrow, tax cut, and spend from bush with no oversight, and Obama adding innovation and working on restructuring the few getting all the benefits from the blood sweat and tears of the many hard working Americans. Where would the rich be if they had to try to make and do all the work that the many are doing to create commerce?!!!!!

        • Long Legs (Mohawk Indian)

          I need to correct an error, starting with “Obama adding innovation”—working on restructuring so the few are not getting all the benefits from the blood, sweat, and tears of the many. This system he is trying to correct was all over the place, from K Strret to Wall Street and everywhere in between!!!

        • GeorgeB

          I guess that is WHY OBAMA is running the car companies now as well……..What a JOKE these politicians are and to think that the people had the audacity to elect these bozo’s in the first place, so the majority DESERVES what they are getting!!!

  • s c mailen, jr

    The White and Congress need to to be singled out for the nation’s rage. These problems were created by career [ME FIRST!] politicians. ‘Divide and conquer’ worked for the Romans, and it is destroying America today.
    Why should we have to sacrifice for leaders who REFUSE to lead? Why should we be dumbed-down robots for a bunch of freedom-hating, Constitution-destroying false gods? These talking heads will do NOTHING to change things in any positive sense. Our problem-creators expect to be re-elected for what THEY have done TO our America!

    • Long Legs (Mohawk Indian)

      Have you been sleeping since before November 4th, 2008? Bush is not in the White House anymore, now there was the “ME FIRST KARMA!!!!!” Is your memory that short that you forgot about “K STREET?” Obama has to sort through the mess Bush left behind!!! Did you forget about “HURRICANE KATRINA,” I was left behind after September 11th, 2001 by Bush! Hillary sent the FBI in 2006, at least I know the Government is Wiser to how al-Qaeda worked in the U.S. of A. before and after 9/11/01. Remember how Coral Springs was on the news so much after 9/11/01, I saw Mohammed Atta in the Red Car with the 3D’s in the beginning of 2001—you want to talk about the lack of accountability in the Government. The car that Mohammed Atta abandoned in Portland, Maine on 9/11/01 was parked in front of the house diagonal from mine from September 7th, 2001 until it left with the two other identicle cars on September 9th, 2001. The Muslim man who confronted me the night I was exposed to Anthrax (8/21/01) is still living in the house that was boughten two years before 9/11/01 (1999.) I asked Bush through Senator Bob Graham for an FBI Agent in a Nurses Uniform to come to my house—al-Qaeda was already coming into my house since the first time Mohammed Atta and I locked eyes on each other the beginning of 2001. So unless you know what goes on behind closed doors—it is best to talk about what you know first hand!!!!! There is a lot more but I feel I shared enough to get my point across. It was because of Bush that I changed my unchanged ever “NPA Voter Registration” to Democratic. I found out after Hurricane Wilma that the Muslim that confronted me the night before I was exposed to Anthrax—had a shipping company. I told Washington three weeks before the Dubai Ports Deal, remember how D.C. reacted when learning of that deal?!!! I am taking Criminal Justice/Counter-terrorism classes with a 3.96 GPA, I am trying to prevent what happened to me from happening to anyone-else. I had to fight al-Qaeda and the Bush Administration at the same time. How would you like al-Qaeda and the Government intruding into your life where you were being held hostage in your own home, having your house bugged, while the government was allowing terrorists to stalk and intimidate your life. Get your head out of the sand, roll up your sleeves and come up with solutions instead of nonproductive criticism!!! Have a nice day, I am now that I was promised al-Qaeda would not get into my house anymore!!!!!!!!!!!!!!

      • http://windstream savageronron

        Long legs you sound like a big liear wanting attention.

        • Long Legs

          You would not know the truth if it slapped you in the face, so keep your dillusional speculations in check!!!

  • silverbelle1008

    I think that we are seeing so much outrage at the bonus recipients because those people are real and we can “do” something about that but we can’t get our government officials and representatives to listen to us or act responsibly.

  • Lucinda

    Read the letter from a CEO that rec’d one of these bonuses. For people who seem to hate “big business”, may I highly suggest you get the other side of the story. You can read this letter at Glenn Beck’s website. Everyone is barking up the wrong tree and I totaly blame the media for this. Acorn organizing and paying people to ride on these “tour” buses to parade in front of the homes of the CEO’s. Let me remind everyone that ACORN is getting over $500,000 billion dollars of our tax money. What the hell are they finger pointing for? Also, has anyone asked congress to give back their bonuses? We are loosing our country. Our freedom is going down the tubes.

  • http://yahoo.com Diane Beatty

    Correct me if I’m wrong, but I believe that they actually revised that figure for bonuses at somewhere over $200 million. Also, we’re missing the big picture with these bonuses. Nine companies that received bailouts, AIG, Bank of America, J.P. Morgan, Goldman Sachs,Morgan Stanley, Merrill Lynch, Citi, and Fannie May/Freddie Mac gave campaign donations to Barney Frank, Nancy Pelosi, Joe Biden, Harry Reid, Charlie Rangel, Chris Dodd, Hillary Clinton, and Barack Obama to the tune of $7,470,720. I’m not sure when these companies started having financial problems, but I am assuming it didn’t just start at the time they asked to be bailed out. So, theoretically, their campaigns were funded by taxpayer money. Isn’t it ironic that all these people who got money from all these failing companies were pushing for the bailout. I know that a lot of people blame it on Bush, but you have to remember that the last 2 years Bush was in the Democrats were the majority and they all pushed for these bailouts. Also, Barack Obama was also for these bailouts and could not wait even til he took office to ask Bush to release the second half. I think both parties are culpable but this administration’s spending makes Bush’s pale in comparison and two wrongs don’t make a right. Also, it has been said that this president wants to have GM to a controlled bankruptcy. He want to have the UAW retained all it’s health care benefits and pension at the current level, which would not happen in a normal bankrupcy restructuring by a judge. By the way, the unions also gave an obscene amount of money to this president’s campaign. This administration is trying to give the appearance of reprimanding these financial institutions and car companies when they have had their hands in their pockets. Isn’t this like having the mouse babysit the cheese. I trust in nothing this administration does. By time they are through, they will have confiscated all our money and a lot of our rights. It’s time for people in this country to realize this and vote some of these people out of office. In reality, they do not represent us. Though a lot of us have contacted Congress to say we don’t like what they are doing, we have been ignored. We truly have taxation without representation.

  • Terence

    I am not upset with AIG giving bounus’, I am really ticked off at Congress who OK’d the bounus’ in the bill they didn’t read and are now complaining about it. It would be like me signing a contract with my neighbor that he can put a fence up 10 feet over on my property, and then after it is completed I say, “I can’t believe you put a fence up.” Idiot politicians always talking out of both sides of their mouths.

  • http://N/A Patricia Rutland

    In reference to the Congressional Bonuses and “Perks”; I strongly agree that Congress should return these monies. Also, if you will recall, the first thing that Congress always does when they convene is “Give Themselves A Big Pay Increase”!!
    I believe that we as American Citizens should speak out against this act that allows them to have pay hikes when the actual working people are losing everything they have.
    They haven’t earned one copper cent and should have to rescind that pay hike that they gave themselves.
    I am so disheartened by all things that go on in D.C. and am totally fed up with all this B. S. that is constantly being shoved down our throat.
    Where did we as a Great Nation go so wrong?

  • bonnie Rai

    I thought Obama was going to clean up this kind of thing. He has made it worse. I now wish I had not voted for him.

  • bonnie Rai

    I often think the worse crooks in this country is our politicians. It would be nice if we just voted all of them out of office and start over and lay down some new rules for them. What we have now is just waste of tax payers money and I now think the Democrats are worse than the Republicans. Use to think different but have been reading and studying more lately.

  • bernard

    i totally agree we should just fire them all and start over. and start over with average people. now already rich and infected with politician idas. but whaat would that take to do it. and how would that happen. the people that already hold office would not let that happen. the way i see it…. is not give any more money to anyone. unless it is going to the people them selves. like you or me to pay our mortgage. pay our bills not theirs. average people that are struggling to make ends meet. buy groceries, pay heat or water bill. i think the gov should take all money back and let them go under if they cant stay afloat. them going under or out of business is not my problem until they took money from me, my children to fix THEIR problem. its their fault they are in this mess and it si their problem to fix it. not ours.

  • Pete

    Frankly my outrage is not that bonuses were paid, after all the recipients were entitled to bonuses contractually. Jealousy of another man’s income is not the American way. The outrage is that the government gave this company or any company in the private sector taxpayer money in the first place. This is a not so subtle attempt to assert fascist control over the private sector. Now that is an outrage!

    • Long Legs

      The biggest outrage out of everything that has been going on, is the greedy not sharing the wealth created by the blood, sweat and tears of the workers who produce the material for commerce!!!!!

      • Pete Kleff

        So you buy into the evil rich guy myth. Let’s look at some facts using 2006 statistics, the last available. The top 1% of taxpayers by AGI ($388,806+ per year) paid 38.89% of individual income taxes. The top 5% ($153,542+) paid 60.14%. The top 10% ($108,904+) paid 70.79%. The top 25% ($64,702+) paid 86.27%. And the top 50% ($31,.987+) paid 97.01%. The bottom 50% ($31,987-) paid 2.99%. The last time I checked, it was generally only people in the top 1% of AGI that hired other people on a regular basis. So, yeah, let’s go after that greedy rich guy. (AGI = adjusted gross income)

        • Long Legs

          AIG is only producers of income for themselves, that is why they had no assets to cover liabilities—therefore they get cover from the people they are ripping off!!!!! Have a nice day!!!!!

        • Pete Kleff

          Indeed ignorance is bliss.

        • daniel

          all of this started during the Clinton years when all these
          companies were falsely stating how profitable they were .
          then we find out it was just a lie,and everyone started losing at that time.Most of the blame should be given to
          our fantastic government for standing up for the American people.The main Problem is the politicians have a great career . We pay for their insurance ,which is far better than any private citizen.They get to vote for their own raises.Most citizens have to work their butts off to get a 25 cent raise.Once they are in office for 1 year they will always receive that money.And apparantly most democrat
          leaders can get away from not paying taxes.The rest of us will go to jail for the same offense.Long Legs(Mohawk Indian) you most certainly are an IDIOT. I don’t care about your grade average and the classes that you are taking.
          That does not make you smarter than anyone else.I’m not a Mohawk Indian.Or any other kind of indian. But I do consider myself as a NATIVE AMERICAN.I was born and raised here .Fought for my country and pay my taxes.
          all this crap about African,Mexican,Asian,Irish,Italian or
          whatever American you want to call your self is all B.S.
          You’re either an American or not. And we need to take back what is all of our rights as American citizens.With the technology available to us ,we the people should decide what our so called government leaders will get paid and what kind of benefits they will receive . We do need a central government but not like it is. It could be down sized
          a great deal and let the PEOPLE decide by voting on subjects and having our representatives do more of what
          we want.I have already become tired of Prince Obama.
          He can’t be a king he bows before others.As Americans our leader should not be runnig around the world saying
          “we’re sorry,so sorry”.If it wasn’t for the US most other countries would never survive.It is time for all of us to take back our country ,our jobs ,our rights.And say the hell with the rest of the world and worry about our self for once . Sorry got a little off track .Long Legs good luck in school
          and I do hope you do well.

  • waltinseattle

    At last a few have the education to carry this back to Clinton (neo-”liberal”) but let me urge you all to just look how ALL the administrations and all the players are connected to the Chicago School of Economics, the good boys club that supports the interests of Anglo-American Bankers over We the People. Its not about right left, etcetc, which all divisions are the smoke and mirros to divide the people and keep us dependant on the gold not silver, the debit not production ….monetary system.

    I can only repeat again the words of Jesse James Brother, back in the day when silver was populism and gold was elitism—”when revolution comes to america it will be farmers vs bankers.” (remember when this almost hapopened durring the Klinton regime? remember how they got tarred as racists? and look how W. Nelson gets sidestrea,ed. One media of for and by the bankers and their dupes.So please don;t swallow the bankers propaganda. Clean your language, clean your mind.

  • Sam Harrison

    This AIG hullabaloo is a diversion. Disgusting as it is, it’s still a smokescreen to the really bad stuff that Obama and his associates are perpetrating upon the American people as we speak.

    We were automobile insurance customers of AIG for twelve years until recently. We found another insurer which gave us a better deal, but that wasn’t the main reason we quit AIG (our action took place just prior to the big fiasco). We found out this company was helping promote Sharia law in the USA. You know about Sharia law, don’t you? You should. Sharia law includes stoning to death, beheading, and no rights for women, among other repulsive behavior. That’s the main reason we dumped AIG.

  • Ron Kirkpatrick

    Where is the outrage over the Freddie Mac & Fannie May bonuses that totaled more than the AIG bonuses?

  • Sheldon Minkon

    I am outraged at how, fueled by the media, the focus has been shifted to make the AIG execs the bad guy. If you had a contract, you would want it honored. This is America, and the law is the law, and contracts must be upheld, even if they are painful. Maybe, congress chould not have made the deal, but they did, and we are on the hook for it. Lets put the blam where it belongs, ON CONGRESS.

    • Long Legs

      Did you forget the Retention Fees?!?!?!

  • howiem

    America is a country which is supposed to be under the rule of law, NOT under the rule of Congress. As some have rightly posted as long as the bonuses did not violate any laws they are contractual obligations. For those who think that the government should break contracts, just wait – this administration will if it feels so inclined. Putting it another way, if (when) the democrats get a bullet proof majority, they will have absolute power to do as they please. And every day they are making more laws to usurp individual freedom. You can blame anyone you want to, but the fact is that if the country had not run into a credit crunch, most of the problems we are facing today would not have happened. No one has a right to own a home if they can’t afford to pay for it. The lawmakers who relaxed the credit requirements are the cause, and they are still there doing more of the same. The bonus outrage is ridiculous. Americans should be more outraged at their own stupidity that they have elected such corrupt, mentally deficient representatives, not at the people who work for a living.

    • Long Legs

      Did you forget they wages stayed the same while the cost of everything was going up?!?!?!

  • kanewolves

    The giving out of these bonuses doesn’t bother me all that much. What makes me want to scream is how every politican in Washington lied about how it was someone elses doing. Most of these people are old enough to have been taught by their parents to always tell the truth. They are an insult to their constituents. When social security collapses they will all line up to announce that it was the other party’s fault. Americans need to remind them of what happened to Pinocco when he lied.

  • Gerald Ray

    I think we “went wrong” a very long time ago. This most recent crisis didn’t just start with the Bush or Obama administration. Not so long ago, however, the words “Damn” and “Hell” were allowed in movies. That was a foot-in-the-door. The movies got more and more towards R rated, then X rated. Today’s X rated movie would be XXX 10 years ago. We went wrong with magazines like Playboy and hustler. Each time something eroded away at the morals of the country there would be those who protested it, but those who said “this is what we want” were louder. It got worse. At one time, your rights stopped where my nose began. It seems now there aren’t any rights for the victims. As God is pushed out of our country, our country is having more trouble. We can’t be that great country without God.
    We believers need to encourage one another and let each other know that we can make a difference, but we can’t sit quietly by while the secular society yells and screams (litigates) to get their way.

  • Silvereagle

    Remember,Obama promised change-well by the time he is through that is all we will have left in our pockets.

  • s c

    The AIG matter is simple. People can let the media keep them brainwashed, or they can ask questions and compare the many differences between “news” and the truth. People can accept whatever the government chooses to do, or they can tell their leaders what to do and where to ‘put it.’ People can hope for the best, or they can get involved, and never give their elected ‘leaders’ a minute’s rest. People can turn off their brains, or they can demand positive results from those who think they are above their oaths of office. People can demand concrete, focused plans, or they can swallow vague, empty promises. People can think we’re seeing ‘politics as
    usual,’ or they can wake up and realize that those on the Titanic had better odds. America is running out of time. If you let yourself think, you have a chance. If you choose not to think, it’s already too late.

  • king

    i really think that most have missed the mark. not bush, obama, or for that matter clinton, but the heart of the matter goes back to 1913 when the congres allowed private bankers to userp the congress authorty to coin and set the value there of money the greatest hoax of the life. lbj in the 60″s signed bill allowing the congress to tap the ss fund to fund general budget. also clinton used ss monies to balance his budget? what happened to the days when our leaders worked for free because they loved country not self.!

  • Vern Shotwell

    Article 1, section 9 of the U.S.Constitution:
    “No bill of attainder or ex post facto Law shall be passed.”
    The bonuses are their right!
    Same applies to Chrysler preferred debtors!

    Who would invest in this country if their investment in time or money can be taken away by ex post facto actions by the Federal Government?

    Any banana government recognizes their own laws more than this!

  • BOB

    AIG MUST BE SAVED AT ALL COSTS. WHY? THEY HANDLE THE CONGRESS’ RETIREMENT FUND. SCREW SOCIAL SECURITY AND EVERYONE ELSE’S RETIREMENT FUNDS. THE REST OF US CAN JUST WORK (MAYBE) TILL WE DIE.

  • ONTIME

    AIG was contracted for their bonus, the lousy job they did was allowed by the government, Fannie Mae and Freddie Mac were government operations by thieves working on government salaries and the bonus paid to them was even bigger.

    This government is more crooked than a dog’s hind leg and the law makers need to go to jail.

  • J.Welander

    Out of the $101 billion bailout, $56.7 billion, via AIG, went to European banks! Why are US citizens bailing out European banks ?

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