Posted on 03/18/2009 8:16:27 AM PDT by SalAOR
The circus that is the AIG Bonus Outrage is a typical Washington case of wag-the-dog. The bonuses were retention bonuses to keep employees who were laid off as part of the AIG restructuring, but needed for a specified amount of time for a transition. AIG was legally-required to pay these bonuses, and it was even written into the stimulus law by Sen. Chris Dodd. The amount and date of these bonuses have been known for months, yet now the administration expresses “outrage” that $165 million is being used to cover bonuses.
Yet this is simply a distraction and misdirection. The real outrage should not be about these bonuses, but about the bailout as a whole. The bonuses are a drop in the bucket of the entire bailout that AIG has received. CNBC’s Rick Santelli puts the matter in perspective.
(Excerpt) Read more at axisofright.com ...
BINGO!
My wife was watching all the Congressmen bloviate. When it came time for the AIG Exec to talk the Talking Heads on All Networks cut in and wouldn't shut up.
Paging Captain Obvious, please pick-up the white courtesy phone...
All phony outrage on the left. democrats shove through the porkulus bill then claim outrage at the kickbacks they give to AIG for donating to their campaigns.
I am not a corporate attorney by any means- but if you purchase a business, as the U.S. Government did in AIG, then the preexisting contracts stay in place. The new owner inherits the obligations including preexisting agreements.
So was Treasury that sloppy and incompetent or did they know all along? It has to be one or the other and also, If this was in a BILL why did none of the 535 members of Congress who approved the purchase basically, know what they were buying?
This is a prime example of what you get when government inteferes with the free market.
Congressman feigning outrage is equal to saying hey look everyone I’m a dumbass!
I wouldn’t call an orchestrated two minutes of hate against greedy capitalists a “distraction”.
I would call it Chavez playbook page 37.
“it was even written into the stimulus law by Sen. Chris Dodd”.....
Just another reason OBozo wanted to rush this thing through...now it’s biting him in the ass!
...Also not to mention that Obozo was the second top recipient of contribution (er..bonuses) from AIG while in Illinois. OBozo and his Chicago style corrupt politics comes home to roost!.....
AIG is owned by the taxpayer and is no longer free market so I could care a less...no bonuses. Fire all those involved in the bailing out of foreign banks and bonus fiasco.
Somehow I am much more concerned about the Hundreds of BILLIONS the congress is wasting on pork in the stimulus package, instead of the MILLIONS paid by AIG. I wish that Congress would clean up THEIR house first.
**Of course it is. A classic ‘Red Herring’.**
OF COURSE... NOW, however, the part that bothers me the most, are so many FREEPERS, alleged conservatives, who are YELLING AND SCREAMING all the LIBERAL TALKING POINTS.
And yet try to explain how they’re being hoodwinked and are being led to “THE DARK SIDE”.. they change subject or redirect, just like a liberal does..
This is more frightening than 165 mill in CONTRACTUAL PAYMENTS.. (now I refuse to call them Bonuses)
They won’t win the company is in bankruptcy...call me a b*** again and I will complain to the mods. I don’t have to put up with that.
OK SUPERLIBERAL closer??
They are NOT IN BANKRUPTCY..so don’t talk to me about LAW you liberal RONPAULISTINIAN
http://www.youtube.com/watch?v=rWbKKydgj_o
Glenn Beck on the AIG Government Scam
Knock off the personal attacks. Both nyconse and bronxboy are posters in good standing and are not suspended or banned.
AIG Bonus Outrage is an Intentional Distraction Organized by Congress
My friend works at AIG - he was hired later last year with an employment contract that said he would get paid for staying at AIG - even though the company is going under. They needed to retain people who had experience in the complicated derivatinves business to figure out the mess and hire additional new people to investigate. If they did not offer a financial incentive to these people - AIG would be in worse shape it is today - because the people who could explain what happened would not be there anymore.
So these payments are actually helping the taxpayer to identify and fix the problems within AIG.
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