Forget the bonuses, I want the entire freakin’ bailout back!!!!

ladyingray on March 18, 2009 at 9:16 AM

SAme here. Under no circumstances should US taxpayers be insuring European and Chinese banks and companies.

Since no one really understands the magnitude of the problem, no one’s in a position to seriously challenge that hypothesis.

This has been the reason for passing a bill without reading it? These lame brain excuses are floating around from people supposed to be in the know? What does an uneducated bozo do when he doesn’t understand what’s going on? He picks his nose and waits to find out what to do or he scratches his butt. One thing he doesn’t do is go out and spend his last cent!
If our government would just take a month off our country would heal itself.

$165 million bucks is still a lot of money any way you want to slice it and it is real money. The trillions coming down the pike do not even exist. Those dollars will have to be borrowed or printed.

$160 million verses $30 billion??? This is stupid.

Forget the bonuses, I want the entire freakin’ bailout back!!!!

progressoverpeace on March 18, 2009 at 8:07 AM

+100

Considering the negative publicity, if given the choice, where do you think a talented finance worker is going to go…..a TARP company or non-Tarp. The only way I’d work for one of the bailout firms is if I was guaranteed a large bonus.

The sheer idiocy, incompetence, ineptness, interminable stupidity is beyond imagination.

And, on top of this, no one is talking about the House Republicans, who were the only ones to ever slow down any of these pathetic bills as they were rushed through, while taking a ton of sh!t.

And the remedies they now recommend are just insane. Absolutely insane.

progressoverpeace on March 18, 2009 at 8:07 AM

well said.

The first thing everyone has to do is stop falling for the perception that “bonus” is something “extra” that most of these people received. Most of this stuff was written into peoples contracts and had nothing to do with the performance of the company.
peacenprosperity on March 18, 2009 at 7:13 AM

I don’t disagree with you. We don’t know the verbiage of the contracts, and the “bonus” may be the bulk of their salary. I only said ethically – restructure as a suggestion in light of the current economic situation. IF AIG had not received a bailout, would the bonuses have been paid? I truly don’t know. IF the government had done the bailouts properly prior to mailing the checks, this discussion would no doubt be a moot point.

The people who are most responsible for this country’s economic mess are being chauffeured to work this morning in washington dc.

Amen. and until the midterm elections give the voters a chance to begin to change the names in this disgrace, I fear we’re in for more unpleasant surprises.

I think most of us are in agreement that we can be upset, even outraged about both topics – bonuses and bailouts.

ladyhawke53 on March 18, 2009 at 6:44 AM

This is not about being for or against the bailouts. This is far worse. This is about the absolutely juvenile and cr#ppy legislation that the geniuses in Congress and the administration passed through. Tons of money, and no one there has any idea what the legislation they voted on says. Dodd even forgets the amendment that he put on a spending bill. The sheer idiocy, incompetence, ineptness, interminable stupidity is beyond imagination.

And, on top of this, no one is talking about the House Republicans, who were the only ones to ever slow down any of these pathetic bills as they were rushed through, while taking a ton of sh!t.

And the remedies they now recommend are just insane. Absolutely insane.

Ethically I think AIG should have modified the bonus structure

The first thing everyone has to do is stop falling for the perception that “bonus” is something “extra” that most of these people received. Most of this stuff was written into peoples contracts and had nothing to do with the performance of the company. Do athletes have to give back their signing “bonus” when they don’t perform? These monetary amounts were part of most of these peoples pay packages and were in no way discretionary. They want us screaming about bonus’s while they cut and slash at our liberty. The people who are most responsible for this country’s economic mess are being chauffered to work this morning in washington dc.

Ethically I think AIG should have modified the bonus structure under the circumstances, but I don’t know the contract details. This so called Washington outrage over the bonuses is merely a smoke screen. These people knew up front that the bonuses were there before they gave the bailout money. By professing outrage they can show the American people that they are standing up for us in the face of corporate mismanagement and greed. BS!! While we’re being sidetracked what nefarious deeds is the Government hiding in the background? How about… talk of taxing these bonuses at 100%? Doesn’t that upset anyone? If the idiot government pulls that one off, no one is safe. THAT scares me more than the bonuses.

Just be sure that you’re willing to go against a military that has a certain loyalty to the Commander in Chief.

sethstorm on March 17, 2009 at 10:17 PM

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Their oath is to the constitution.
.
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The bailout is the problem, not the contractually obligated “bonuses”. Would you be as upset if they were called commissions?
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I’m tired of people complaining that people are being paid in accordance with there employment contract.
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But correcting what I said earlier.
The AIG bailout was for the purpose of supporting European banks. To disguise this they are making a big fuss over the bonuses. the reason that they supporting the European, and Chinese banks is the knowledge that when there is a revolution, a different group comes to power. As far as the socialists are concerned, what good is making America socialist if they lose Europe, and china to laisser faire capitalism.
.

Are you suggeting the Commander in Chief would order the military to take up arms against the citizenry.

dhunter on March 17, 2009 at 10:35 PM

Well, there is certainly precedent…

Just be sure that you’re willing to go against a military that has a certain loyalty to the Commander in Chief.

sethstorm on March 17, 2009 at 10:17 PM

Are you suggeting the Commander in Chief would order the military to take up arms against the citizenry.

I think there is a law against that and a remedy for it.

I love the military by the way the current ruling class not at all!

Feedie on March 17, 2009 at 9:34 PM

+1

OBQuiet on March 17, 2009 at 10:29 PM

Sounds too honest and sensible. And where would they get their payoff money from?

“Sen. Chris Dodd (D-Conn.), tagged by Republican aides for sponsoring an amendment to the stimulus bill that allowed the bonuses, shifted the blame to the Treasury Department and “the bill conferees,” saying he had no idea that the AIG bonuses were coming.”

In other news, OJ Simpson continues his search for the real killer.

MB4 on March 17, 2009 at 8:09 PM

This Chris Dodd thing needs a separate thread immediately. I heard Hannity on the radio about this and discussing it with Dick Morris.

The government can’t do anything about a contractual obligation and this is all just smoke and mirrors to distract the public from all the other shenanigans going on.

True. Well maybe they can but they shouldn’t. At least not selectively.

My point was that complaining about AIG fulfilling one contract for $150M but not others for $100B is hypocritical. And that they could have avoided BOTH by letting a bankruptcy court do its job. Congress could have used the funds saved to help the victims of that failure if they had to do something.

Tim is getting the money back by taking it out of their operating budget.

getalife on March 17, 2009 at 8:47 PM

Tim,as you so lovingly call him, is having a hard time doing anything. Getting it out of their operating budget is the same as saying he’s getting it out of our pockets. Who do you think funds their operating budget now?