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OK, I know it's not illegal for those as*holes to take their bonus $$$$.
But what about immoral, unethical and irresponsible. It undermines the trust and confidence we put in management to do the right thing.

Hey you idiots, DO THE F'ING RIGHT THING AND GIVE IT BACK. :mad::mad:
 
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They seriously need to write a caveat in to those employment contracts to disallow bonuses if the very institution they are in charge of needs a fed bailout.

On the other hand, there were a couple bailout transactions that I understand came with a bailout. Kind of a "you take this troubled bank and we'll give you $10B to cover the bad debt" dealio. Kind of hard to penalize a CEO under those circumstances imo.
 

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You who rock I salute you
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Fox Biz news is now reporting the bonus are well over $450 million.

They don't care.
It'll be a golden parachute if the shit hits the fan.

They are the ones with the credit default swaps that drug us into this mess.
 

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The bonuses are less than 1/10 of 1% of the bailout money they received, and the people getting it are technical managers, not executives. The average bonus is $420,000.00.

AIG contractually owed the money, they have to pay them just like any other creditor.

How would you like it if you worked all year and your bonus was snatched out from under you?

Issuing credit default swaps was allowed by SEC regulations.....no one expected the house of cards to fall.

Just presenting the other side of the coin.
 
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I have an ex-employee who is a Claims Manager at AIG's Woodland Hills office. I ran into him at a party at the Magic Castle last Sat night. He told me that all expenses and wages are frozen and have been for a while. He also told me that AIG is separating and re-branding its different lines of insurance and selling them off to re-pay the govt loans.
 

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Islander Moho Trash
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I have an ex-employee who is a Claims Manager at AIG's Woodland Hills office. I ran into him at a party at the Magic Castle last Sat night. He told me that all expenses and wages are frozen and have been for a while.
Meanwhile the big executives collect more cake.:|err
Unfawking-believeable that this shiat is happening.
It'll be interesting to hear BHO's take on this one.
 

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The bonuses are less than 1/10 of 1% of the bailout money they received, and the people getting it are technical managers, not executives. The average bonus is $420,000.00.

AIG contractually owed the money, they have to pay them just like any other creditor.

How would you like it if you worked all year and your bonus was snatched out from under you?

Issuing credit default swaps was allowed by SEC regulations.....no one expected the house of cards to fall.

Just presenting the other side of the coin.



Yes, I understand. The employees and management have done such a good job making AIG so profitable.

Bonus's are generally driven by employee contributions that make the company more profitable and a portion of those additional profits are then divided among key contributing employees.

So by your definition, we should give employees money "just for the hell of it", I'll bet you don't own a business!
 
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Yes, I understand. The employees and management have done such a good job making AIG so profitable.

Bonus's are generally driven by employee contributions that make the company more profitable and a portion of those additional profits are then divided among key contributing employees.

So by your definition, we should give employees money "just for the hell of it", I'll bet you don't own a business!
There are some segments of AIG that are very profitable, such as their auto and construction defect books.
 

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I'm all for bonus payments but ONLY to those that perform well. I think its safe to say some big dogs on top did a terrible job. :)sphss AIG seems to be handing out $$ just for keeping the seat warm. WTF?

AIG is a big company with many different lines of business. I'm sure some of the lines of business are profitable and those middle level executives, who probably had nothing to do with their problems, should be compensated. But the mid level managers aren't the ones getting HUGE bonus checks that make headlines.

But the clowns on top that made the bad decisions should not even have a job to receive a bonus.....:)sphss

AIG's board should be held responsible for this travesty...:|err They just don't get it...:|err
 

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Yes, I understand. The employees and management have done such a good job making AIG so profitable.

Bonus's are generally driven by employee contributions that make the company more profitable and a portion of those additional profits are then divided among key contributing employees.

So by your definition, we should give employees money "just for the hell of it", I'll bet you don't own a business!
Actually I do own a business, which grosses over $40M annually. All of my employees received generous bonuses on December 31st, even though we are in a tough financial situation.

You don't know anything about the nature of the bonuses, so saying these particular employees are to blame is a reach.

And as I said before, these are not high level executives.
 

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There are some segments of AIG that are very profitable, such as their auto and construction defect books.[/quot



Then let those segments re-invest their profits back into the company as a whole and they will need less of a hand out from the public.

By the way, your Messiah is on TV right now telling the American public about all the wonderful programs he is planning to spend yours and my money irresponsibly.
 

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Actually I do own a business, which grosses over $40M annually. All of my employees received generous bonuses on December 31st, even though we are in a tough financial situation.

You don't know anything about the nature of the bonuses, so saying these particular employees are to blame is a reach.

And as I said before, these are not high level executives.

I am in a similar situation. However, I did not bonus my employees. And they usually get a healthy bonus every six mnths. Been a year and a half without. Construction is brutal right now. I had 300 employees and am down to 86 as of this week. While these "tools" at AIG and walllstreet continue to live in lala land and are being supported by politicians on bot sides of the aisle, mainstream America will collapse. Then who will pay the taxes to keep this crap going? 90 % of Americans are working for small business, under $100 million per year. Kill us and you kill the economy. :|err
 

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Actually I do own a business, which grosses over $40M annually. All of my employees received generous bonuses on December 31st, even though we are in a tough financial situation.

You don't know anything about the nature of the bonuses, so saying these particular employees are to blame is a reach.

And as I said before, these are not high level executives.

So, you paid on 12-31 without knowing what your net tax profit for the year was. I would say it is you that has no idea of how bonus's are calculated and what they are the incentive for in the real business world.

If you continue this pre net income tax spending we will be bailing you out soon.
 

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So, you paid on 12-31 without knowing what your net tax profit for the year was. I would say it is you that has no idea of how bonus's are calculated and what they are the incentive for in the real business world.
LOL......Mmmmk.
 

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My take on it, not that anyone really cares, is that while the bonuses may be contractually obligated to be paid the wording should have been such that their payment was contingent upon the company turning a profit. If you know you're going to post a quarterly or fiscal loss then bonuses should be rescinded. But it all comes down to how the bonuses were structured.

If I had to guess, an executive overseeing a division had their bonus tied to the performance of their division and their division only. If the targets were met then that executive is rightfully due a bonus as previously negotiated. Again, the bonus structure should never allow payment if the corporation is losing money.

The bigger issue is that money was given to companies with no stipulation on what it could be used for. Government bailout money should only be used for continuing operations, of which I would argue bonuses do not fall under...
 

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AIG simply changed the name of "insurance" to a "default swap" thus cheating the terminology in the law.
We are all paying for that.

The next big shitstorm will be inflation.

The company, advisors, contractors,, the whole shitload of them failed and ran the company and the world economy onto the rocks.
And they knew clearly where they were headed years ago.

No way should US taxpayers be paying for their mis-deeds.
 
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Looks like Mobama is pretty pissed at them.
Should have checked in to those bonuses before giving them billions.

I know what I would do. :D
 

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Looks like AIG had some help...

If President Barack Obama wants to find a scapegoat for the mess at American International Group, he needs only to look east from the White House to the halls of Congress.

That's where the legislation was enacted that laid the groundwork for AIG's collapse, its subsequent multibillion-dollar bailout and even the millions of dollars in bonuses being paid to AIG executives that have so outraged Obama, members of Congress and taxpayers.
http://www.msnbc.msn.com/id/29724816
 

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Desert Racing Widow
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Did I hear correctly that AIG holds congress's retirement?

**Yes, I know I should have capitalized congress. I chose not to. They don't deserve it.
 

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Did I hear correctly that AIG holds congress's retirement?

**Yes, I know I should have capitalized congress. I chose not to. They don't deserve it.
I have heard the same thing but have yet to see any proof of it. How about $93 billion of the relief money going to foreign banks and Goldman Sachs:|err
 
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