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 GeneralizingNow
Joined: 10/10/2007
Msg: 4
Republican leader defends AIG bonusesPage 3 of 4    (1, 2, 3, 4)
Employment contracts can and DO change all the time. Bankruptcy voids many of them, for instance. Over a long period of time, contracts are rewritten. It is not realistic to expect that what you were promised 45 years ago will still be exactly the same today (just ask military wives like my mom--government reneged on all sorts of things it promised). For another instance--do YOU trust Social Security?!

BTW, Limbaugh is not a "Republican Leader", he's a conservative blowhard.
 SingleGuy4912
Joined: 7/25/2006
Msg: 6
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Republican leader defends AIG bonuses
Posted: 3/18/2009 3:05:58 PM
AIG could've avoided this recent backlash by renegotiating the contracts. If they were afraid of losing key employees, they could've renegotiated to defer payouts.

It looks like the possibility of having the recipients names exposed is causing some of them to voluntarily give back some or all of their bonuses.
 normaldude
Joined: 3/8/2006
Msg: 7
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Republican leader defends AIG bonuses
Posted: 3/18/2009 3:10:13 PM
the entire financial sector is ruined and these guys want to pay a bonus to "retain talent"? What talent are they keeping? The rape and pillage talent? So let the special people leave and dont you think they would find other bankers roaming around the area? lol, what a joke. Are they retaining the best criminals?
 geeleebee
Joined: 5/26/2008
Msg: 9
Republican leader defends AIG bonuses
Posted: 3/18/2009 3:34:02 PM
Had the head of AIG come out earlier and explained what those bonuses were for, it would have been much easier for Americans to swallow. Some of those who received bonus money have given back half or more--good on them!

If anything is 'ginned up', in my opinion, it is the tripe that falls from the lips of Rush Limbaugh as he castigates anything and everything Obama.

What. A. Jerk.
 SingleGuy4912
Joined: 7/25/2006
Msg: 13
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Republican leader defends AIG bonuses
Posted: 3/18/2009 3:50:33 PM
Of course they're being unfairly criticized. Does anyone actually know ... what they did that's undeserving of their bonus?

AIG is in such bad shape because of decisions made by the so called talented employees.

I wish I could work for a company that rewards incompetence.

Errrr...that didn't come out right....
 designingwoman
Joined: 9/4/2005
Msg: 19
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Republican leader defends AIG bonuses
Posted: 3/18/2009 5:03:55 PM
I think the AIG bonuses are despicable and a waste of taxpayers' money, and any Republican "leader" who defends them should be thrown the h*** out of office!

Rush Limpuke is nothing but a sick, dirty, vile and disgusting windbag that is a waste of perfectly good energy.
 Super Ryan
Joined: 9/15/2007
Msg: 21
Republican leader defends AIG bonuses
Posted: 3/18/2009 5:36:54 PM
It is very much true that some of the AIG executives did nothing wrong. They worked hard and tried to make the best decisions for the company. But this does not mean they earned their bonuses or are legally entitled to them.

Here's the problem with the bonuses and why the government should investigate and perhaps demand the bonuses back.
These were performance bonuses. Under contract the bonuses were to be based on the four quarters of 2008. Unfortuanately the CEO decided that the bonuses would only be based on the first three quarters of 2008.
We all know what happened in the fourth quarter of 2008. Since the fourth quarter was not counted, the executives received over 100 million dollars, if the fourth quarter was counted, the bonuses would be closer to nothing.
The US government should investigate, demand any money fraudulently paid out returned, and look into posible criminal charges against any executive that defrauded the company and the American taxpayer.

Rush Limbaugh is a big fat drug addicted idiot. It seems like everything he says lately is purely to try and make any democrat look bad, whether there is any truth to it or not.
If Obama went on TV tonight and told the nation "drinking 8 glasses of water a day is good for your health", tomorrow Rush would spnd his show talking about how many people drown every year.
Quit listening to this fat retard, he is intentionally destroying your country, just so he can be right.
 RenaissanceMan1950
Joined: 2/20/2009
Msg: 23
Republican leader defends AIG bonuses
Posted: 3/18/2009 7:38:04 PM
It's not a matter of Rush "defending" AIG bonuses, in that he thinks it's a good thing. It's just that, when a lynch mob mentality takes over, it starts to get insane. Some of the politicians, mostly democrats, who were complicit in the whole thing, are now rushing to get to the microphones to denounce AIG.

Simple truth is that if an employer has a contract with an employee to pay him/her bonuses on the basis of certain benchmarks, the employer is legally required to pay. Tim Geitner, sec. Treasury under Obama, knew all about it. One must assume that Obama did too. Once it became a public outrage, though, they hypocritically are saying the populist things.

Liddy is a democrat choice to head AIG, and didn't see a way to legally not pay.

Essentially, all Rush said was that the whole thing has become hysteria, and that Obama and his cohorts are hypocrites.
 Padawan61
Joined: 3/1/2008
Msg: 25
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Republican leader defends AIG bonuses
Posted: 3/19/2009 12:17:17 AM
Of course they're being unfairly criticized. Does anyone actually know who these executives are or what they did that's undeserving of their bonus?

So educate me. What did each individual person do to not deserve their contracts?

Who is they? Which employees ran their company into the ground and how did they do it?

Which specific employees SingleGuy? What exactly did they do?

What did they do to drive the company into the ground?

seib Where did you get your definition of "bonuses"?? You seem to keep asking the same question ... what each employee did?? Since Edward Liddy has ... thus far ... not even released the names of those individuals receiving the bonuses, your questions become almost rhetorical. The posters do not have those facts BUT I'm in agreement with Optimistically ...

Every bonus I have ever received was predicated not only upon my own performance but the performance of my Division and the Company as a whole. These were performance bonuses

The fact is: AIG was mismanaged (collectively) by these executives to the point where the company needed $170 billion in taxpayer bailout. Adding insult to injury, the bonuses were paid from those bailout funds.

I don't claim to have any answers. Call me rash but I would rather find out what a person did before I decide that they should die. Evidently, I'm in the minority here ...

We do know that AIG (as a company) is in trouble so it stands to reason that all those executives had a hand in it (through action or inaction), thus they should all collectively die together. And yes ... seib ... you're probably the minority here. BTW, I like the threat where someone suggested they should be "executed with piano wire around the neck".

He read aloud threats that AIG employees had received, including one that suggested that all bonus recipients should be “executed with piano wire around their necks.”

http://www.globeinvestor.com/servlet/story/RTGAM.20090318.wliddy0318/GIStory/

@ Optimistically_Cynical

You don't know the first thing about me or my experiences so please don't pretend that you do

I think you work for AIG and is the recipient of this bonus plan. Why else would you defend it so vehemently??

I would love to work for AIG too. Where else but in North America do employees get fat bonus checks for being complete FUKups. Remember now ... AIG is in dire straits and the bonuses were paid from taypayer's money.
 SAguy_06
Joined: 12/29/2005
Msg: 26
Republican leader defends AIG bonuses
Posted: 3/19/2009 3:52:59 AM
<
Essentially, all Rush said was that the whole thing has become hysteria, and that Obama and his cohorts are hypocrites


What else could Rush say? He set him self up as Contra-Obama. So what does Rush focus on?...Hysteria. The collective "WTF" by the country is a rare occurance. People of all political stripes finally spoke as one voice...shouting NO MAS...NO MAS.

Rush didnt speak to that; instead he highlighted the unstable who made wacky threats towards AIG and some of their employees.


this republican leader had this response-


Sen. Charles Grassley of Iowa says AIG execs should follow “the Japanese example” by publicly apologizing and “do one of two things: resign or commit suicide.”

 davidsauvignon
Joined: 2/6/2008
Msg: 30
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Republican leader defends AIG bonuses
Posted: 3/19/2009 9:35:55 AM
I think the Libs, including O'bama, should shut the he77 up about AIG and the bonuses...at least, until they return the millions of dollars AIG contibuted to their respective campaigns. You know, put your money where your mouth is kinda thing.

Do you suppose they will self-impose the 95% tax on the money they received from AIG?!






~ds~
 normaldude
Joined: 3/8/2006
Msg: 31
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Republican leader defends AIG bonuses
Posted: 3/19/2009 4:13:32 PM
bankers sure know how to spend money!!!

"Bloomberg is reporting that Citibank is planning to spend at least $3.2 million for basic construction, and as much as three times that much after architects fees and other expenses are paid, to renovate the executive offices at the bank's Park Avenue headquarters." life is a party!
 SAguy_06
Joined: 12/29/2005
Msg: 33
Republican leader defends AIG bonuses
Posted: 3/19/2009 5:15:58 PM

Does anyone agree with Boss Limbaugh that AIG is being unfairly criticized?


I agree with Rush, AIG didnt ask for all that money, and the Government didnt tell them what to spend it on...They could have bought X-box games and a pizza, who cares. Why is everybody so Hysterical?
 wisguyingb
Joined: 1/5/2008
Msg: 34
Republican leader defends AIG bonuses
Posted: 3/19/2009 5:22:54 PM
The media is talking about the $165 million dollar bonus story and not the story of the Federal Reserve pumping over 1 trillion dollars(yesterday) into the US Economy which could have dire effects down the road if it does not work. The AIG bonus money story is a diversion that preys on public outrage/emotion and shifts our attention from the big 1 trillion dollar Fed Story.
 Beaugrand®™©
Joined: 3/24/2008
Msg: 42
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Republican leader defends AIG bonuses
Posted: 3/24/2009 9:32:12 AM

Regardless of how the Company is being financed, the Company is still trading and is therefore liable to meet its contractual obligations.
AIG would be bankrupt without the bailout money; without it, they would have had to file bankruptcy, and the bonuses couldn't have been paid. I don't have a problem with that, but Henry Paulson told us that AIG collapsing would be a really bad thing, so the Bush Administration began the tradition of bailing out incompetently run financial corporations.

So it seems that some of the whiz kids who engineered AIG's collapse were offered "retention bonuses" (bribes for the rats who might leave a sinking ship); they paid themselves their bonuses out of taxpayer money. What I can't find is a justification for paying the "retention bonuses" to the 11 executives who have allegedly already left AIG for more profitable opportunities?

With respect to the hastily-written House bill to tax the bonuses, it next has to pass the Senate, then it has to be signed by the President. There are enough questions about its constitutionality to make that less than likely, so this is just more political posturing on both sides, and simply another opportunity for Limbaugh's "party of NO" to further sabotage any chance at economic recovery.

So I have to wonder how far the Limbaugh Right is willing to go to wreck the recovery in the name of ideology. Obviously, they're willing to wage warfare on working people by blocking stimulus finds and fueling unemployment, but will they stop short of treason, or is Rush actually intentionally inciting a coup d'etat?
 Beaugrand®™©
Joined: 3/24/2008
Msg: 46
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Republican leader defends AIG bonuses
Posted: 3/24/2009 10:39:32 AM
The bonuses are income and taxed at the same rate as Capital Gains.

Forget trying to get the money back, after all it's less than 0.1% of the total AIG bailout, just publish the names and photos of the bonus recipients and how much they were paid.
 Samurai41
Joined: 4/29/2008
Msg: 48
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Republican leader defends AIG bonuses
Posted: 3/24/2009 2:01:51 PM
if it wasa performance bonus, then it shouldnt have been paid, if that division of the company didnt perform

if it was a retention bonus, then it should have been paid.

BUT

Limbaugh is right about one thing, this is just a circus to distract teh people from the fact that the current administration is rapidly taking over private businesses
 Beaugrand®™©
Joined: 3/24/2008
Msg: 49
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Republican leader defends AIG bonuses
Posted: 3/24/2009 2:19:12 PM

Limbaugh is right about one thing, this is just a circus to distract teh people from the fact that the current administration is rapidly taking over private businesses
Right, you figured it out. Bush began the AIG takeover and sabotaged the McCain campaign because McCain refused to give Bush a pardon for Iraq war crimes, so a deal was struck with Obama to...
 Samurai41
Joined: 4/29/2008
Msg: 50
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Republican leader defends AIG bonuses
Posted: 3/24/2009 2:41:30 PM
sigh.........

Sir,
I was raised to be polite to my elders, I will simply ignore the troll bait you posted and instead mearly hope you have a nice day.

Dodd, wrote the add on to the bill that allowed the bonus payments. Obama broke a campaign promise that he would read everything he signed line by line, and didnt read the bill, just signed it.

Tax cheat sec of the treasury knew about it, lied about knowing about it, then got caught lying.

but the brohaha is just a smoke screen.

Just like all the noise about Limbaugh, he doesnt matter, he isnt important, but they have people talking about him instead of talking about what they are doing..

it really isnt deniable.
 oddandy
Joined: 3/5/2008
Msg: 52
Republican leader defends AIG bonuses
Posted: 3/24/2009 10:56:56 PM
[QUOTE]BTW, Limbaugh is not a "Republican Leader", he's a conservative blowhard.

Yeah, notice the OP also refers to him as "Boss Limbaugh."

I'm seeing this theme elsewhere, the intentional painting of Pills Limbaugh as some "Republican Leader" as opposed to, you know, a talk show host.
 GrandmaBooBoo
Joined: 12/30/2006
Msg: 65
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Republican leader defends AIG bonuses
Posted: 3/26/2009 9:06:38 PM

I do agree to a point. if AIG promised bonuses as part of an employment contract, then those employees are entitled to those bonuses. You can not change contracts retroactively. Paying bonuses and then asking for them back is crap and I would tell AIG and the government to kiss my rear end if I worked for AIG.


LOL!!! well....damn, you should tell the UAW that!!! Funny: people see white shirts as having a "contract"...but I suppose it's just another one of those words they allow "blue collars" to borrow in the hope that BSing them into thinking that they're really part of a "team" will get them to settle for a BS job title in lieu of a raise! LOL! Ohhhh wait...that's what's been happening isn't it?

I was actually really hoping that the "boys" would go along with you....and honor that (AIG) contract....so I could initiate a class action suit against all the legislators who uphold AIG's contracts as holy scriptures out of one side of their mouths.....and screaming "death to UAW workers" out of the other; for discrimination.
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