A.I.G....unfreakinreal

Originally Posted by ArlJim78

the hypocrisy is running really deep on this, they all knew, or should have known about the bonuses.

Chris Dodd now wants to tax away the bonuses when he himself put in an ammendment into the stimulus bill that specifically protected those contracts.

i guess actually reading the bill before you sign it might not be such a bad idea after all. Congress has already debated this relatively meager issue much more than the stimulus bill which is roughly a 5,000 times larger blow to the taxpayer.

and then there is the Republican senator who said those guys should take a deep bow and commit suicide. Grassley should be taken away in a straightjacket.


AIG should use the Obama's earmark defense.
"Oh those contracts are last years business, we've got to move forward now. We'll make sure it doesn't happen next year"

It does not matter at this point whether the government
knew or not. The fact is we are led to believe this business,
which delved deeply to the edge of illegal derivatives,
was giving performance compensation bonuses BEFORE there was a horrible
performance. This is how big businesses are run that get so
huge and convoluted that no one had any idea how to mind
the store. This company was run as inefficiently as anything
in government. And they cheated. I am sure there are very
competent people in that company that deserve to be paid.
But it is pure folly to take government money while
the rest of the country suffers.
This company was essentially insuring investments without
the funds to back it up. Good luck with that.