AIG

[TGRR]

Originally Posted by classicman

So, since these compensation packages are so common in this industry, when are all the other banks that got money gonna fess up?

Already happening.

I have a link, if you want it. It'll piss you off plenty.

[sugarpop]

Originally Posted by TGRR

Already happening.

I have a link, if you want it. It'll piss you off plenty.

yes, link please.

[TGRR]

Originally Posted by sugarpop

yes, link please.

Freddie Mac got bonuses, too!

Also, there's just some fun info there.

There's more. Yep, you guessed it. Fannie May is paying out, too.

[classicman]

Originally Posted by TGRR

I have a link, if you want it. It'll piss you off plenty.

Yes I want the link please.

To me the issue of these bonuses is NOTHING. Dodd lying is a much larger deal. Barney Frank and Chris Dodd were trusted to oversee this. Why aren't they being asked about what was going on under their watch? Why is no one putting them on the spot? They grilled Libby who came back out of retirement for $1 a year and lambasted him. Like it was his doing? I call BS.

The total amount of these bonuses is the equivalent of you asking to borrow $1000 from me. I lend you the money. I find out you buy a $1 candy bar and freak the fuck out. Its ridiculous.

[sugarpop]

Originally Posted by classicman

Yes I want the link please.

To me the issue of these bonuses is NOTHING. Dodd lying is a much larger deal. Barney Frank and Chris Dodd were trusted to oversee this. Why aren't they being asked about what was going on under their watch? Why is no one putting them on the spot? They grilled Libby who came back out of retirement for $1 a year and lambasted him. Like it was his doing? I call BS.

The total amount of these bonuses is the equivalent of you asking to borrow $1000 from me. I lend you the money. I find out you buy a $1 candy bar and freak the fuck out. Its ridiculous.

I agree. After watching the hearings, I think there is an easy way to solve this whole thing. Tell the people who were getting bonuses that they will still get them, after the money is paid back. Just defer them until then. Then we won't have this big mess. From what I heard, the people still there really are good employees, they did not cause the company to fail. Those people are gone. But, since they wouldn't have ANY paycheck if we hadn't bailed them out, they shouldn't be upset that we don't want to be the ones paying them. So, if they are deferred to a later date, then we won't be paying for them, and they will still get them. Just not until the company is standing on it's own, and the money they owe us is paid back.

* edit to add* classic, it isn't ridiculous to people who are lsoing their jobs, or who have had to forgo their bonuses, because we've had to bail out these companies. $170 million is still a LOT of money. And a huge chunk of that was for bonuses more than $1 million.

[TGRR]

Originally Posted by classicman

Yes I want the link please.

To me the issue of these bonuses is NOTHING. Dodd lying is a much larger deal. Barney Frank and Chris Dodd were trusted to oversee this. Why aren't they being asked about what was going on under their watch? Why is no one putting them on the spot? They grilled Libby who came back out of retirement for $1 a year and lambasted him. Like it was his doing? I call BS.

The total amount of these bonuses is the equivalent of you asking to borrow $1000 from me. I lend you the money. I find out you buy a $1 candy bar and freak the fuck out. Its ridiculous.

Dodd lying is very serious.

But save some tar and feathers for the bankers. We aren't talking about a dollar.

[sugarpop]

Originally Posted by classicman

A very liberal friend of mine is telling me he thinks this whole thing, the outrage over the bonus deals, is nothing but a cover to distract us from the billions being funneled to foreign banks through AIG. I all but fell off my chair hearing him talk like that.

So, since these compensation packages are so common in this industry, when are all the other banks that got money gonna fess up?
Maybe they're all makin backroom deals now to cover it up. hmm Damn wacko extremist conspiracy theorists.

Yes, something like $40 BILLION went to foreign banks, at least from what I heard reported. In addition, many other banks that we already bailed out got more money from AIG. (Maybe it was $40 billion total. I don't remember.)

Don't you think that, when people gamble, they should have to pay for their losses? Because that's what happened here. Why should WE be paying for their gambles? It just really has me angry and upset. Perhaps I should take Dana's advice and stop watching the news. *sigh* My anxiety level has increased significantly over the past year, and even more over the past few months, since this whole thing started.

[tw]

Originally Posted by classicman

A very liberal friend of mine is telling me he thinks this whole thing, the outrage over the bonus deals, is nothing but a cover to distract us from the billions being funneled to foreign banks through AIG.

Money to AIG was to pay off incurred debts. AIG payments flow all over the world because AIG was contracting internationally. Why could AIG suck up $40billion and need many times more? AIG used Enron accounting that was openly encouraged by deregulation. AIG wrote their contracts so as to have no government oversight - another economic miracle encouraged by the George Jr administration. Therefore nobody knew where all that TARP money was going until secret corporations created by AIG suddenly appeared demanding money.

$40billion to save AIG means paying off the world. America owes money to everyone due to extremist economics that said, "Reagan proved that deficits don't matter." Bailout money must go to numerous overseas entities because that is what a bailout is - paying off the debts.

Meanwhile AIG rewards those who created 'money game' contracts and then hide those losses in secret corporations. Bonuses even to employees for creating secret corporations because they did good - according to Enron accounting techniques that are still legal.

[sugarpop]

Originally Posted by tw

... America owes money to everyone due to extremist economics that said, "Reagan proved that deficits don't matter." ...

I read recently that under Reagan the wealthiest people paid 50% in federal income taxes. Maybe we should go back to that, since he is the darling of the republican party.

yea, I like that idea. WOO HOO!

Originally Posted by sugarpop

I read recently that under Reagan the wealthiest people paid 50% in federal income taxes. Maybe we should go back to that, since he is the darling of the republican party.

yea, I like that idea. WOO HOO!

I think it was more like 70% for the top marginal tax bracket in the '70s.

Back to the 2000 level of 39% (as opposed to the current 35% that is set to expire next year) works for me.

[classicman]

Which are you more upset at the $1000 or the $1?

[tw]

Originally Posted by classicman

Which are you more upset at the $1000 or the $1?

The $1 is enriching the person who caused the $1000 loss. Should be blame and punish the economy - of those whose actions cause it? classicman would rather punish the economy when those $billion are already gone and no longer recoverable. That $1 can be recovered - with wrath so severe that other ‘financial experts’ think twice about what is more important.

classicman would rather encourage more corruption? Apparently. People who profited excessively from deregulation and to screw American for self serving gain - classicman says they deserve to be rewarded.

[sugarpop]

both actually

[classicman]

Originally Posted by classicman

Which are you more upset at the $1000 or the $1?

[classicman]

got any proof of any of that tw?
The secret corps?
The money laundering?
Their accounting practices?
Copies of their contracts?

I didn't think so. You are just wildly speculating and playing the fear game.
yawn.