since the revelations started comming out since last friday... that was the last straw for me! fuck bailing out aig! the arrogance of these mba assholes! i say the government nationalize them now! since they sure as hell have proven they are incompetent at even wiping their own assholes! free market capitalism be damned! i feel better now. i will now step down off my soapbox and quit ranting.
I agree with this. It would be better to nationalize them. They're still airing ads on tv out the ying yang, so they must be spending too much.
Nationalization is what the bankers and corporate criminals all want. That's why the Democrats and Republicans are both calling for it. But what is "nationalization"? The bankers run every facet of the government, so they would still be in control. The guise of nationalization is simply to consolidate control of the banks using the taxpayers' money. It certainly will not help the average person who's out of work and having their home foreclosed, but what else is new?
Yes, and a lot of brainwashed people also wanted Bush in '04 and Obama in '08. The corporate media can get people to accept or want anything using the right propaganda. Most people don't even know who or what caused this mess in the first place. Heck, most people will support pre-emptive wars under the right circumstances and fear-mongering. It doesn't mean it's good or in the best interests of the people.
I haven't really been bothered by all the bonuses until this. AIG wouldn't even exist if it wasn't for tax payer dollars and now they're giving 165 million to a few executives(the idiots who destroyed the company)? Also, AIG isn't even an american company. Most of the executives are based in London.
Playing Devil's Advocate to some here, but... I believe that all bonuses combined add up to only a tiny fraction of a percent of the bailout money. For politicians to spend entire days/weeks/months trying to shave one ten thousandth of one percent off of the cost, well, it might not be the best use of their time. Watcha think?
Whether they nationalize the banks or not the government will have to take control of the bank some time soon even if it's for a short period of time.
Well Andrew Cuomo is demanding the records from AIG. Good for him! Limbaugh doesn't like it he thinks it amounts to Nazi like tactics to ask for full disclosure from a company that received taxpayer bailout funds. I guess republicans don't view this as good business practices. http://mediamatters.org/countyfair/200903160023?show=1 And this is supposed to be the new leader of the republican party. Just a little out of touch aren't they? The republicans are hyping legal privelege. Why is it when the working man sues its always frivolous, but the rich are entitled to their protections? I hope those days are over. Remember all the anger over union workers for the auto industry, and they make (those that still have jobs) a fraction of what these big boys do and continue to receive on the backs of taxpayers with no accountability. Not to mention the expensive retreats they attended on the taxpayer dollars after they ask for handouts. http://voices.washingtonpost.com/travellog/2008/10/disaster_tourism_comes_to_cali.html
The question isn't what percentage this accounts for in the scheme of the bailout, but rather or not it is an excess and unacceptable expenditure. If this company cannot perform it's business in a reasonable, legal and acceptable manner than this business is not worthy of being bailed out. Turn the records over to Cuomo, and let those that bailed this company out decide whether or not these expenses are acceptable. I think it's a terrific use of our elected officials time. It's what I elected them to do. I expect accountability and transparency. Madoff lost 85 billion, but his net worth is only 350 million, so we should let him keep that? How much is expended every year auditing the accounts of working Americans that singly amount to an even more microscopic percentage of total tax receipts? How about putting a moratoreum on investigating Welfare Fraud because it's such a small portion of the budget?
Of course they shouldn't have been bailed out.It probably won't happen but maybe the government should admit the bailout was a mistake and reverse it.----Politics by and for the rich did to America what the iceberg did to the Titanic.--At this point who knows what should be done with AIG and the banks,but 1 thing is for certain if the new administration is going to have any credibility in this issue they must start by DEMANDING all those bonuses be returned,and anyone who does not return it-should go to jail..As far as I'm concerned Big Business criminals are among the worst of criminals because their actions affect so many people.
Also I'd love to see a return of the 90% tax rate for the richest of the rich.And anyone who thinks that's socialism(whatever that means these days), ask yourself if President Eisenhower was a socialist.He to his credit 'refused' to lower that tax rate during the 1950s.
You are right, the money is not significant when you look at the big picture, but people are pissed off. We just don't want the AIG executives to have the money, whether it changes anything important or not. Personally, I would rather see that cash fed into a paper shredder than given to them. :cuss: The only thing that might move me out of that position is if I find out that Rush LimberJaw agrees with it. I don't want to agree with him on anything. If he says tomorrow that the sky is blue, I will have to find another word for that color. What is "blue" in Spanish?
They also gave 75 employees million dollar bonuses, including 11 who no longer work there. http://biz.yahoo.com/ap/090317/aig_cuomo.html?&.pf=insurance I propose a bail out for my small construction company here in Texas. We could use a big ass bonus, its been a rough year so far.
Well blame some of this on congress for rushing this stimulus out. The stimulus allows for these AIG bonuses. Many in congress are having a hard time explaining how AIG was allowed to go ahead with these bonuses. Bonuses allowed by stimulus bill - CNN.com
New word out today is someone in the office of the Secretary of the Treasury did away with a bi-partisan agreed upon provision in committe that would have made these bonuses difficult if not impossible. http://www.huffingtonpost.com/arianna-huffington/a-disturbing-dc-whodunit_b_176456.html
All this current talk about taxing these bonuses? Don't these fat cats pay tax on this stuff. I pay taxes on winnings in Reno, is this stuff usually free and clear of income tax? Haven't the republicans for a year been telling us how much the rich pay in taxes...What's this tax free compensation?
I cant take credit for any of this research,however i do thank those who took the time to dig all this up. prepare to be shocked,dismayed and outraged.. heres the info gathered,you can connect the dots yourself.. http://www.dailykos.com/comments/2009/2/23/153939/985/22#c22 http://china.blogs.time.com/2008/09/18/aig_and_china_could_a_special/ http://www.tickerforum.org/cgi-ticker/akcs-www?post=84500&page=1
