It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

A.I.G. to Pay $100 Million in Bonuses After Huge Bailout

page: 2
8
<< 1    3  4 >>

log in

join
share:

posted on Mar, 15 2009 @ 12:20 PM
link   
Why don't they issue a warrant for Liddy's arrest?
He is clearly committing tax fraud, by getting money from the Government, and giving some of it to the executives, that lost money in the first place.
Ill tell you why, because hes handing them wads of cash, to not lock him up.




posted on Mar, 15 2009 @ 12:51 PM
link   


American International Group, Inc., through its subsidiaries, provides insurance and financial services in the United States and internationally.
reply to post by Ex
 


Obama's political motivations are obvious. He's using AIG as a whipping boy. AIG is quaisi government. It's their main "private" insurance carrier.

When the Carter, Clinton, Barney Frank types manipulated the CRA to require banks to give mortage loans to low income, non qualifying buyers these loans then went to Fanny and Freddie (quaisi governmental mortgage loan agencies) who bundled the loans and got AIG to insure the bundles that became "mortgage backes securities". With AIG's backing these now nearly worthless "AAA" securities were sold to Goldman Sacs, Lehman, world banks, cities, everywhere.

When the ship went down in September, AIG had to pay off. They of course, couldn't so they went to Congress (who had caused the problem in the first place with their fraudulent CRA legislation) and got a bailout of hundreds of billions. As these mortgage backed securities go belly up in the coming months, AIG will have to go to congress again and again and Congress will have to pay off since it was their problem in the first place.

Obama just committed the greatest fraud of any former president in the form of the stimulus bill and the budget bills which were simply massive pork, payoff and needless spending. So to divert the publics attention from his own fraud he claims to be appalled by the governments insurance agency. He has the bully pulpet, the liberal media still thinks he is the hero so he gets by with it.

Next time there will be a different whipping boy but the fraud will continue, IMHO.



posted on Mar, 15 2009 @ 01:08 PM
link   
I can understand the legal responsibilities aspect of it... some of those bonuses have to be paid via contracts that have been in place.

But I think if anyone receives a bonus, they should consider giving it back. It's been made clear that "it's that simple" in regards to the bonuses. And those that do not, are being recommended to be let go.

Congress isn't happy about the bonuses at all. I think Libby is on the one dollar payroll now as well, so I think he is trying to at least do something.

But they better do a lot more, or they are going to get some seriously bad results from millions of people.



posted on Mar, 15 2009 @ 04:26 PM
link   
It's actually alot more than $120 B..

They recieved about $170 Billion in bailout money

They are giving out $165 Billion in bonuses right after receiving said bailout money.

IMO, This much is obvious...
This isn't just a blatant spit in the face of Obama's efforts thus far.. This is a blatant spit in the face of Americans everywhere...

-ChriS



posted on Mar, 15 2009 @ 04:42 PM
link   
Everything I've been reading about this issue refers back to "pre-bailout contractual obligations."
Contracts are broken EVERYDAY and I refuse to accept that some of the supposedly brilliant legal minds at the helm can't find a tiny "loophole" so that no only could the bonus-issuing have been stopped (I believe they went out today?Just another weekend party like so many we've seen lately!) or at the very least,the amount to be paid out substantially reduced.

I feel duped...bigtime.

We we lead to belive that "AIG couldn't be allowed to fail" because
their holdings included so many financials and it would start a snowball-effect however and it's come to be known that more than a few are in Europe and a large portion of bailout went there!
13 out of the 22 or somethng like that,going from memory, financials they paid out to weren't in the US.

So,they get a bailout and now the same asshats who were in charge when this PRIVATE enterprise first showed signs of drowning NOW get financial rewards???

Seriously...I am starting to doubt my sanity.

I am going to venture to guess that this issue will get the public's attention.



posted on Mar, 15 2009 @ 04:53 PM
link   

Originally posted by BlasteR
It's actually alot more than $120 B..

They recieved about $170 Billion in bailout money

They are giving out $165 Billion in bonuses right after receiving said bailout money.


Don't confuse million and billion. They received $170,000,000,000 ($170 billion) in bailout money, and they're apparently paying $450,000,000 ($450 million) in bonuses.

Disgustingly enough, the bonus amount is approximately (if I did my math right here) one quarter of one percent of the total government bailout.



posted on Mar, 15 2009 @ 05:25 PM
link   
My question to the "powers" would be to ask if they in fact issued the bailouts to AIG using a "low doc" status and therefore had NO prior knowledge that these bonus-contracts existed????

Because now they are acting all outraged and like their "hands are tied" because of them.They have no choice but to let the contracts stand according to the reports.

No one knew...yep...right.

Boy,if I was going to give away that much taxpayers money,I'd surely want to know the strings attached and how/where they were planning to spend it before I handed it over.



posted on Mar, 15 2009 @ 06:33 PM
link   


I feel duped...bigtime.
reply to post by irishchic
 


Congress is giving money to AIG to keep them solvent no strings attached because Congress got AIG into this mess in the first place making AIG back the Fannie and Freddie bundled securities. AIG has to stay solvent or the whole balloon goes up.

And yes, the culprets that got us into this mess in the first place (the ones that made and backed CRA all along) are still in power. Barney Frank, Chris Dodds and Obama are in it up to their ears. We get rid of them and we can start to heal.



posted on Mar, 15 2009 @ 06:39 PM
link   
Thanks to all of you for voicing your opinions...pretty much thinking that it makes every one nauseous! Well I just found something that has really got my ire up! Congress knew all of this ahead of time. They could, by way of accepting the bailout change thier contracts! Contracts are broken every day.

Henry Paulson is in this deep, and few are even daring to cry foul!

www.abovetopsecret.com...


The administration is worried that there might be political fallout over this plan, and I have to admit this plan makes me feel pretty hostile. But that’s not the only reason this is wrong.

Taxpayers are pouring money into the shadow financial system day after day through AIG. The money we poured into save AIG is flowing right back out into the bank accounts of counterparties. We have a short list, but that information is being leaked to serve AIG’s purposes. One of those purposes is to show that if we let AIG fail, there would be world-wide consequences to the financial system.

The short list doesn’t answer important questions like:

1. How many of those counterparties are going to be making mountains of money out of the toxic waste pool?

2. How many of them are going to insist on ludicrous rewards without risk using even more of our money?

3. Why is the US Government such a patsy?

Maybe Jon Stewart could ask?



firedoglake.com...



posted on Mar, 15 2009 @ 07:18 PM
link   
For those that say Congress got AIG into this mess....you've all been listening a bit too much to Rush and his copy cats. Yes Congress was responsible for the CRA deal and the like and Fannie and Freddie loans and all that rot. However AIG is an insurance company, and must be prepared to actually INSURE what they are being PAID to INSURE! When they could not the stupid, stinkin, worthless, corrupt, FED steps in and says "we'll cover ya,,, no problem,,,,let us call up our buddies the RED CHINA COMMIES and borrow a few trillion."
Yes, the fed played their part. AIG execs flubbed up what congress indirectly put on them to have to do.
NOW the AIG execs are getting millions in bonuses while responsible hard working Americans such as myself that make their mortgage payments and live hand to mouth to do so are paying for their stinking bonuses.

Please let me have those AIG execs, the stupid $^&*'s such a Barney Frank and the other libs that got this ball rolling and give them to me in a small windowless room for ten minutes, no gloves, no headgear and I will show then all how hard work can build a hard person.
stupid SOB's.
Sorry for the rant........



posted on Mar, 15 2009 @ 07:40 PM
link   
www.reuters.com...

Again,you could not make this chit up:

"But the revelations that billions of U.S. taxpayer dollars were funneled through AIG to Goldman Sachs -- one of Wall Street's most politically connected firms -- and to European banks including Deutsche Bank, France's Societe Generale and the UK's Barclays was likely to stoke further outrage at the entire U.S. bank bailout."

"AIG, an embattled insurance giant that has received federal bailouts totaling $173 billion and is now paying $165 million in employee bonuses, is at the heart of a global financial crisis that President Barack Obama is trying to address with plans for trillions of dollars in spending.

As part of those efforts, Obama will announce steps on Monday to make it easier for small business owners to borrow money, officials said."

Do a trick,get a fish...



posted on Mar, 15 2009 @ 09:33 PM
link   
reply to post by irishchic
 


We could only wish we made it up!

I believe there is reason to think this is not the last time we will all be scalded by AIG.

firedoglake.com...

Are AIG Counterparties Waiting for the Fire Sale?


Everyone knows what the problem is. Banks and Tim Geithner think toxic waste is worth more than the anyone is currently willing to pay. Hedge funds, vulture funds, even new funds small investors might be able to buy into, all of them think the prices will go lower. This is a standard practice: if someone is headed for bankruptcy, wait until they file to buy their assets. Of course, you might have to bid against other people, but in this case, there are so many assets that you don’t really have to worry about that. How many of these vultures are AIG counterparties who have already been paid off by the Treasury?



posted on Mar, 16 2009 @ 02:13 AM
link   

Originally posted by Rockpuck
Just like Obama tried to tell Congress what they can and cannot put in a bill, the Treasury is going to find they cannot tell a company what to spend money on.

Maybe they will learn their lesson, don't give money to pigs, they will just throw it around. Then again, it's the government, so I doubt they learned their lesson.

For some reason people just don't seem upset enough about what's happened in the past 16 months.


Part of the problem is the assumption that preventing these businesses from failing is the big solution to our economic problems. It absolutely is not..

This is proof of that.

-ChriS



posted on Mar, 16 2009 @ 02:39 AM
link   
Just a recap:

The liberal democrats in power realize that if AIG fails all will go down like a house of cards because they are the ones that set it up with AIG as the keystone insurer to prop up Fannie, Freddie, the derivatives and make themselves look like the good guyes.

Barney Frank and Chris Dodds are in charge of the Congressional and Senate (POWERFUL) banking committees.

If AIG goes down their silly scheme to put risky low income people into housing is exposed and Barney and Dodds loose their jobs, and we find out how our hero Obama is involved in the scheme.

Do you think that Obama, Barney and Chris will let that happen? Of course not! Were we betrayed? Of course! Will we be betrayed again? Da!



posted on Mar, 16 2009 @ 11:58 AM
link   

Originally posted by plumranch
Just a recap:

The liberal democrats in power realize that if AIG fails all will go down like a house of cards because they are the ones that set it up with AIG as the keystone insurer to prop up Fannie, Freddie, the derivatives and make themselves look like the good guyes.

Barney Frank and Chris Dodds are in charge of the Congressional and Senate (POWERFUL) banking committees.

If AIG goes down their silly scheme to put risky low income people into housing is exposed and Barney and Dodds loose their jobs, and we find out how our hero Obama is involved in the scheme.

Do you think that Obama, Barney and Chris will let that happen? Of course not! Were we betrayed? Of course! Will we be betrayed again? Da!




It amazes me how you still buy this is a one party issue...BOTH PARTIES BETRAYED US!!!!! What do you not get here? Last I checked the Republicans held congress and the president from 2000-2006 and yet they all just talked. It was in 2004 when the congress allowed the leverage limits to be raised after 3 attempts by Hank Paulson to get it done...yes the same Hank Paulson Bush chose as Treasury Secretary. When Glass-Stegal was repealed it was done with a Republican controlled congress. Oh yes Barny Frank and Chris Dodd were in the mix also no doubt they loved all these loans going to people who couldnt afford them. When I voted for Bush I voted for small government and no police state and I got the complete opposite. I got the biggest government in our history and a doubling of the national debt. Until we start holding these fools accountable nothing will change. If Im going to vote Republican and still get a Democrat Ill just vote Democrat till I see a true conservative. News flash though they dont exist...



posted on Mar, 16 2009 @ 12:37 PM
link   

Contracts are broken EVERYDAY and I refuse to accept that some of the supposedly brilliant legal minds at the helm can't find a tiny "loophole" so that no only could the bonus-issuing have been stopped (I believe they went out today?Just another weekend party like so many we've seen lately!) or at the very least,the amount to be paid out substantially reduced.


Well, keep in mind that the company itself isn't the only 'greedy' one, your average Joe Citizen is just as greedy. Would YOU tell your company "Oh, sure.. keep my bonus this year, I don't want it.."? If you are that morally upstanding, you are very unique. Most Americans would threaten to sue, quit, who knows what else, if a contractual bonus were not given to them. People are just greedy all over.

To your average guy (or even average manager or vp), they are looking out for one person first... themselves, and their families. Even those who are glutted with ridiculous bonuses, and are living fat off the hog. They do not want to sacrifice their lifestyle because of the bailout.



posted on Mar, 16 2009 @ 02:09 PM
link   
This is not a Democrat thing, this is not a Republican thing, this is a Government thing!

Peaceful Protests have started!

Thousands gathered on March 15th, 2009 for a "Tea Party"

www.abovetopsecret.com...'



posted on Mar, 16 2009 @ 02:15 PM
link   
I am wondering if this "bonus info" was staged in any way to allow the "outrage" that Obama and his merry band of thieves are now proclaiming...seriously,it's HIGH DRAMA!

Now saying that the bonus-situation isn't real or true,but that it seems VERY odd the news of it breaks on a Sunday,then Big Ben chats it up on 60 minutes,then more outrage on Monday.
Like it was a bit of a set-up that needed BIG fixing and we're just the guys to do it?

Now subponeas are being considered:

www.abcnews.go.com...

It just all seems so sudden,over the top,and intended to create a scene that will then be averted?

Of course if they avert the monies,the public will be grateful and rally.

I have already obviously been inspired by the many conspiracy threads here,HAHAHA!



posted on Mar, 16 2009 @ 02:19 PM
link   
reply to post by irishchic
 

Yes I think the angle you have in mind is at work in this whole thing.
The idea you are talking about even has a name...
The Helgelian Dialectic...have you ever heard of that?



posted on Mar, 16 2009 @ 02:46 PM
link   
reply to post by irishchic
 

Adding fuel to the fire...
www.abcnews.go.com...


The hot seat is getting even hotter for AIG Chairman and CEO Edward Liddy. Not only has President Barack Obama called on his Treasury Secretary to do everything possible to block the bailed-out insurance company from doling out $165 million in bonuses, but now the New York Attorney General has set a deadline of 4pm Monday for Liddy to release the names and job descriptions of those receiving bonuses stating that if the information is not received this afternoon that he will seek a subpoena to force compliance.


They are letting it all out, the MSM is, and contrast the coverage on this to the protests?



new topics

top topics



 
8
<< 1    3  4 >>

log in

join