Comments on: First Draft: Monday’s blue mood — AIG outrage

By: Fausto Leund

Fausto Leund — Tue, 17 Mar 2009 13:03:43 +0000

excuse my lack of knowledge… but, how on earth could someone consider this W.Street lads TOP TALENTED?? if i do wrong on my business and got expelled by the market for that reason, do i get paid by the government…? some 250 years ago, those who were filling for bankruptcy were jailed in the Tower of London.

By: Tom

Tom — Tue, 17 Mar 2009 12:52:40 +0000

The Treasury Sect has found the perfect way to make sure this is a one term President. Just let the Bonus money roll out, and everyone keep their cushion and job, and he will be voted out by the very people who voted him him into office. Amateur night at the White House is the song I hear playing.

By: Franz Kafka

Franz Kafka — Tue, 17 Mar 2009 12:24:45 +0000

Look, the outcry comes little bit too late and again Government fell asleep at the controls (why should the president deal with these issues in the first place..).
Nevertheless, any bonus payment by definition is surely based on past performance, company and individual, awarded restrospectively by the supervising officer – usualy in the March salary. Almost certainly such is the structure of AIG’s contracts also – anything else is doubtful. It’s designed to motivate employees to ‘extract more meat from the bones’ (you and me). It’s a normal practice at most corporations worldwide. As it happens AIG lost big last year so the preconditions have not been met. End of story. No one will leave the company voluntarily over this issue, after all who’d hire that ‘talent’ anyway (most folks would not know how to lose 50 billion, get paid while doing it and again after it’s confirmed). Future contracts ought to be structured such that top executives should have their floating part of salary increased (base salary decreased) but already we’re seeing the opposite trend – why bother with bonuses (not likely for years to come) if the base salary is going up. You can rest assured they’ll try whatever you let them. It’s counterproductive in the long run but in case of AIG – now majority state owned, it’s a disgrace. The Government will make a noise but after a while it will go away (citing legal issues) – the politicians on both sides wil do nothing as they need the campaign contributions. It’s a shame. Talk to your local politician. Well done Mr. Cuommo.

By: Jay

Jay — Tue, 17 Mar 2009 12:22:05 +0000

I think you’re all wasting your time complaining. Because that’s all it is, complaining. By the time this article hits the archives these execs will have their millions in the bank, laughing that the public wants them fired. I can’t imagine they’d want to work for a company they destroyed that’s now 80% owned by the government and tax payers.

I seriously don’t see how any of this will do any good. The damage has been done. We’ve lost billions (or trillions) to greedy execs who are smiling ear to ear with the bailout money. Now excuse me I have to get back to work to pay my 33% taxes.

By: Stephen Graber

Stephen Graber — Tue, 17 Mar 2009 11:16:08 +0000

OK! Congress fell for it and decided to fund AIG. Now since AIG decided to give millions to the incompetent and dishonest it is evident that the incompetent and dishonest are still in charge at AIG. No loan for AIG because the incompetent and dishonest are still in charge and that is a misuse of public funds. It is time to break AIG up. OBAMA and congress will get a lot of praise they dispose of the liability and sell off the assets at AIG and do it quickly. We were told if we do not fund AIG the sky would fall. The sky has fallen now lets do the right thing.

By: Hank

Hank — Tue, 17 Mar 2009 10:48:18 +0000

Have you ever seen a Leech pulled off while bloodsucking its host? Its simply gasping for “breath”, in this case more blood. I am afraid it will be hard to pull these Leeches off their hosts without tearing flesh and leaving an ugly, bloody wound. I guess you have to kill the host before the Leeches drop off and look for anothe r fresh supply of blood. Such is the condition of Wall Street at the top. AIG has simply uncovered them for all to see.

By: GIDEON

GIDEON — Tue, 17 Mar 2009 09:02:07 +0000

AIG’s management is certifiably criminally insane. Thus their insurance license should be revoked.

By: Brook Leonard

Brook Leonard — Tue, 17 Mar 2009 02:18:44 +0000

It is foolish to believe that this is AIG’s fault. Our Federal Government should have had this sort of thing ruled-out prior to doling out more than $500 for every man, woman and child to a single entity. AIG has received $2,500 from my family alone via this bailout. Our country is the laughing stock of the world. Simply a circus.

By: Richard Clark

Richard Clark — Mon, 16 Mar 2009 21:25:51 +0000

before anyone, including myself, points a finger at who helped create this great shedding of wealth, i would suggest we all look in the mirror. We all thought the ride would never end and I simply don’t mean this current meltdown, I would lump the whole century we have just left behind. Who pays for war? Who profits from poverty? Who benefits from cheap finance? We all did. Mea Culpa, so look past the personalities and listen to Cicero, who said . . .
“The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn’t want to go bankrupt. People must again learn to work, instead of living on public assistance”.

Cicero 55 BC
Roman author, orator and politician (106 BC – 43 BC)

or closer to home . . .

” I BELIEVE THAT BANKING INSTITUTIONS ARE MORE DANGEROUS THAN STANDING ARMIES . . . IF THE AMERICAN PEOPLE EVER ALLOW PRIVATE BANKS TO CONTROL THE ISSUE OF CURRENCY . . . THE BANKS AND CORPORATIONS THAT WILL GROW UP AROUND THEM WILL DEPRIVE THE PEOPLE OF THEIR PROPERTY UNTIL THEIR CHILDREN WAKE UP HOMELESS ON THE CONTINENT THEIR FATHERS CONQUERED.”
THOMAS JEFFERSON
1743 – 1826

By: Mitch

Mitch — Mon, 16 Mar 2009 20:07:29 +0000

Health, Education and Welfare in this country has been in dire need of money for many years and each time Washington claim there is no more money. Now, all of a sudden we have billions to bailout banks. Where did it come from so fast and so easy? And how come we do not have money when Health, Education and welfare is in need of the money?