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

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posted on Mar, 16 2009 @ 02:56 PM
reply to post by burntheships

I believe I have seen it mentioned but will do some more reading...thanks!
I feel lately as though it's just all one big performance with all the actors trying to get the same award.

posted on Mar, 16 2009 @ 03:03 PM
reply to post by irishchic

Yes and the title of the play is One Giant Ponzi Scheme For All Mankind!
I am hoping to post a thread soon on the Hegelian Dialectic.

Does it ring a bell when we hear Rahm Emanuel and Hillary Clinton say the same thing within a short period of time?

They both said..."Never waste a good crisis"

posted on Mar, 16 2009 @ 03:05 PM
reply to post by burntheships

Please DO! I'm sure you have much more info available than I can wallow through and will present with your usual clarity.

[edit on 16-3-2009 by irishchic]

posted on Mar, 16 2009 @ 03:10 PM
I don't see what the problem with this is. They were giving bonuses to the employee's not the CEO's... that's a GOOD thing. Remember the average employee was just working there and doing what they were told, you can't blame them.

posted on Mar, 16 2009 @ 03:14 PM
reply to post by Techsnow

I am sure that the average employees were paid. The fact of the matter is no one should be given tax payer money when they perpetrate fraud!

WASHINGTON (AP) - President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of "recklessness and greed" and said he intends to stop it from paying out millions in executive bonuses.

"It's hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay," Obama said at the outset of an appearance to announce help for small businesses hurt by the deep recession.

posted on Mar, 16 2009 @ 03:21 PM
I had to laugh out loud today, as I watched Geithner tell of his disgust with AIG.. Then Obama comes on and like a Gone With The Wind novel, he comes to our rescue, saying:

American International Group Inc's payment of $165 million in bonuses is an "outrage" and ordered the treasury secretary to take all legal measures to block them.

And here we all are, least some of us, excited in the hopes that Obama is sending his "Wonder boy" to put AIG in the corner, until they hand over the bonus money..
Do you all know WHO it was that put together the ORIGINAL Rescue Plan for AIG???? Can ya guess???? Anyone???? was Geithner himself...Do you really think when he made the ORIGINAL Rescue plan, that he didnt know about the bonus contracts??
Here's a quote from the New York Times, Nov. 2008:

Behind the scenes, Mr. Geithner was the point person for weeks of sleep-deprived Bailout Weekends. It was Mr. Geithner, not Mr. Paulson, for example, who put together the original rescue plan for the American International Group.

Here is the link to that article:

Everything Obama and his cronies said on TV today was nothing more than BULL..It was designed to take OUR eyes off the ball, off the fact that Obama is scared all this might cause a backlash..
He just up'd his ratings, and his halo glowed a little more today..well at least to those who are mistified by his presents...
Oh..and if you think Obama's not worried about backlash and his approval rating..well here you go: Imagine that...

[edit on 16-3-2009 by MissysWorld]

posted on Mar, 16 2009 @ 03:26 PM
reply to post by MissysWorld

Excellent post and great information! Agreed, and do we think that the President himself was left in the dark?

Really...imagine this: a potentially legacy shattering piece of bandini is going to hit the fan and the MSM is all over it...and the top advisors did not warn The President?

They take us to be fools!

[edit on 16-3-2009 by burntheships]

posted on Mar, 16 2009 @ 03:31 PM
reply to post by MissysWorld

Great post!

Yes...but The Big O will be appearing on Leno later this week,all will be well.
He will charm and seduce the people into feeling sorry for him because he's losing sleep over it all.

posted on Mar, 16 2009 @ 05:28 PM
Obama is a disgrace to this country... All the hardships we are all going thru with this economy, and he feels the overwelming need for us to see him appear on Leno..
I am ashamed that someone like him is our president, and hope with everything in my being, that he will be impeached, before he does more damage to our country...
One more thing..his little speech today was bullcrap, of the highest stinch..
I heard on the cable news tonight that AIG gave out those bonus's to top Exec. LAST FRIDAY, MARCH 13th!

AIG told Mr Cuomo yesterday that it made the payouts last Friday but did not supply the names of the recipients.

Did Obma not know this before his little appearence today? If he did, then he thinks WE are the morons..If he didn't then he is a COMPLETE moron, with "President" in front of his name...


posted on Mar, 16 2009 @ 09:35 PM
I propose an amendment to any bailout moneys given from
here on:

No more executive bonuses!!

As now owner of 80 % of AIG as an American taxpayer
I realize there would be NO AIG if it didn't recieve the money
and thus these executives could not have benefited in anyway
from a bankrupt company.

So this should be the amendment to any more bailout money
BEFORE they are recieved by any bankrupt company.
I do not accept some contract made BEFORE any company
was bellyup!
All Contracts will be RENEGOTIATED on delivery of bailout help !!

What Say Citizens??

posted on Mar, 16 2009 @ 11:07 PM

Originally posted by anachryon

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.

LOL! you are right. My bad. I'm just confused why i got 2 stars on that post without anyone else noticing?

I hear some people talking about "Obama is losing his temper" and "how can he run the country if he gets this frustrated" etc. (In talking about these AIG Bonuses). At least he cares. This went on for years under the Bush administration and it is one of the big reasons we are in this situation. I think its actually kinda nice to see the president as pissed off as everybody else. It took a long time, alot of money, and alot of pissed off Americans for the bailout plans to get as far as it did. And then when some companies got said bailout oney they use it to pay unheard-of bonuses, put down 7-figure sums to renovate their offices, and purchased $40,000 toilets thanks in part to taxpayer money.

It is this kind of irresponsible sense of entitlement that goes beyond absurd. I can understand if someone did a good job and deserves a bonus.. But tell me why people are getting 7 and 8 figure bonuses for good performance when our banks and financial institutions are getting destroyed from the inside out.. (by the same people recieving these bonuses) and our economy has completely tanked because of it.

It's like some CEO going..
"You're helping destroy our economy and you are partially responsible for making our economic problems big enough to justify a bailout. Here's your bonus for making that happen"... And that's legal??


posted on Mar, 17 2009 @ 10:46 AM
Will AIG file bankruptcy today...or tomorrow? This is the second write up I have seen on the probability that AIG will end in bankruptcy.

It's beginning to look like American International Group (NYSE: AIG), the largest U.S. insurer, will file for bankruptcy possibly today or tomorrow. What could keep it from filing is a $75 billion raise in capital from the remaining investment banks. But thanks to a $14 billion margin call on its Credit Default Swaps (CDSs) resulting from S&P's downgrade of its credit rating, this capital raise is unlikely to happen.

[edit on 17-3-2009 by burntheships]

posted on Mar, 17 2009 @ 05:12 PM

AIG paid 73 bonuses of $1 million or more...
Did those employees do a job well done?

Troubled insurance giant American International Group paid bonuses of $1 million or more to 73 employees, including 11 who no longer work for the company

posted on Mar, 17 2009 @ 05:15 PM
Sighing here in her green beer: the worst part of this to me is that we WILL be expected to simply suck it up because they have already said in an MSNBC interview today that they will split the company up and of course,with the new M2M changes,they will FIND a way to keep this dead-mule kicking.

I for one am tired of swallowing chit.

[edit on 17-3-2009 by irishchic]

posted on Mar, 17 2009 @ 05:44 PM
reply to post by irishchic

This pretty much takes the cake doesn't it?
I say we should have let them go bk...last year when Lehman went down...funny thing that I look back on that and now start to wonder what the sinister plot was that involved Lehman going bk.
There must have been a reason...

posted on Mar, 17 2009 @ 05:51 PM
At the risk of sounding "conspiratorial" I think this has been a carefully designed and executed "plan" with a high-purpose in mind and that Lehman was the sacrificial lamb?

posted on Mar, 17 2009 @ 05:53 PM
reply to post by irishchic

Agreed. If you find anything in the news or on the web...feel free to post it on this thread. I think the conspiratorial part of it fits right in...and is also part of this Global Meltdown fourm.

posted on Mar, 18 2009 @ 12:19 AM
Alot went on today with regards to this story. I haven't read all the news stories but here are a few points that are pretty interesting...

New development here:
Geithner: AIG must pay back bonus money

CNN did a poll. Check this out.

Would you support a special tax on AIG executives to recoup bonus money paid to them?
Yes 82% 231430
No 18% 49145
Total Votes: 280575



posted on Mar, 18 2009 @ 12:23 AM
reply to post by BlasteR

Thanks for that update! I read that this AIG bonus deal has the people pretty riled up, nothing like it since Sarah Palin!

posted on Mar, 18 2009 @ 12:25 AM
reply to post by Ex

I hear the voice of the citizens saying a resounding No!

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