Monday, March 16, 2009

Well, well, well

Obama Says Administration Will Try to Block AIG Bonuses
President Obama says AIG's plan to pay out $165 million in bonuses is "hard to understand."


What the hell took so long??

AIG is FINALLY going to be facing a criminal investigation. Still not by the Attorney General of the United States, but by NY AG Andrew Cuomo. Hey, at least there will FINALLY be a criminal investigation...

All I can say is.. IT'S ABOUT TIME!! I have been calling for this for quite a while. Maybe if they opened an investigation sooner they could have save the TAXPAYERS some bucks.

I just hope it does not stop with AIG! There are too many big businesses handing out huge bonuses for executives running failing businesses.

Here is what Liddy (AIG CEO) had to say in defense of this BS. "I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them...Honouring contractual commitments is at the heart of what we do in the insurance business. "

Hmmm. Not really impressed since we the taxpayers are paying for this crap when I am working through Spring Break and can't take my family on a vacation.

3 comments:

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Steven M Nielson said...

Criminal? Unfortunately there is nothing criminal about handing out contractual bonuses... What IS criminal (not officially, but morally) is that the taxpayers are FORCED, literally at gunpoint, to dole out their hard-earned savings/cash to prop up companies with FAILED business policies.

I say forced at gunpoint because, well, just try NOT paying your taxes... you'll be lit up faster than Ruby Ridge and Waco put together!

What should be investigated is those IDIOTS in congress - who has been receiving money from AIG, who has stock in AIG, who has ANY ties to AIG - then if it shows that they have voted to protect their own interest, TRY THEM FOR TREASON AND HANG THEM IMMEDIATELY - preferably on the steps of Congress. These "elite" rulers of ours have defrauded the people of this nation, are party to the economic collapse, put the nation in national security danger, and have otherwise acted in treasonous manner!

This is the one, and only, time that I will take example from the French... let us eat cake??? Eat this! :)

Cheers!

Tenacious Texan said...

I am not an attorney and do not deal in contracts but if a company is coming to the FED on bended knee begging for money, then proceeds to reward the guys that bankrupted them and pay for golf trip and trips to the spa (I am sure none of those things were not guarranteed), I have to wonder if there isn't some fraud going on here. I may not know much about contracts law, but I deal in the criminal everyday. I have seen very convincing con men that can sell their sob stories and get your last dime. All these claims of poverty from AIG is not convincing me a bit. If they were so broke why would they book expensive suites and lavish trips for the very morons that are ruining the company?? If they exaggerated their dire need for money and provided false information to Congress, there could certainly be a crime in this scenario. I agree that Congress should also be investigated; how they could dole out that much taxpayer money without so much as an audit... Makes you wonder!