Summers: AIG Bonus Bombshell 'Outrageous'

As far as I'm concerned, they need to demand money already given to AIG returned to the government and let AIG go down. Forget negotiating. This is totally unacceptable.

Take the bonuses away and let the "best and brightest" who drove AIG into the gutter, walk to their next job. What a joke!!! Afraid of getting sued?? Are you friggin kidding me? Are you telling me that AIG wrote employment contracts to executives that GUARANTEES bonuses in a time of the worst performance in history by any company anywhere? No wonder they are where they are. And that type of corporate behavior is from the "best and brightest"?

I'll go further than that. The only reason you would want AIG's idea of "best and brightest" to stay with AIG would be to keep them from going elsewhere and bankrupting yet another company. In case they haven't noticed, we have a problem with high unemployment. They should have been content to keep the company open and functioning sans bonuses. If AIG cannot adjust their attitude and drop the bonus issue, then we need to get money already given back and give it to someone more willing to please and more deserving.

I want everyone on the internet to remember this whole AIG story the next time the government tries to sell us a GLOBAL WARMING, Green World... Absolute BS!!

This just an open announcement that one American can legally f*uck the other American under the current set of law .

All insurance is just a legalized, force-fed, giant scam on the populace. Insurance of any kind should be OUTLAWED. We're being turned into indentured servants to the Corporations and Government by our own government.

Correct me if I am wrong, but isn't AIG basically an insurance company? Why are we bending over backwards for an insurance company? Something does not smell right about this. I have a feeling the sky will not fall if they go under. Why wouldn't all the other legit insurance companies in the world take their business if they go under. I say let'm go!

I voted Democrat, but agree with Republicans abou AIG. These bonuses should not be going forward. This should have been in the agreement when AIG got their first money. There are many smart people who would give their eye-teeth to have these jobs for less pay. We all die, so the world and AiG can do without someone. So please rewrite or tell those people if they are not willing to lower their sights, they have to go. This has happened to many people in my community-told they had to go with no recouse.

Unless you understand how the "New World Order" and Gilderberg group fit into this, you will never understand what is really happening within our government.

The information is out there on the net but, do you really want to know?

Return the money AIG you just give out as a bonus!

Corporations like AIG don't believe in shared American sacrifice but in quarterly profits. Yes the bonus AIG is giving out like candy is from the Tax payers but AIG knows it will take a hit for a week from the media and then the story will fade from the media.

Perhaps the bonus money AIG is giving out should be returned to Government and put to better use in fixing the economy.

i think the government is doing right by trying to stop these bonuses. all monies that we have given them should come back then see if they have money to give them

If those are the "best and brightest" then AIG is doomed to fail. You do not deserve any kind of bonus if you are a part of the team that drove your company to point of needing billions of tax dollars in bailout money. Period. You deserve to be fired. It is just that simple.
No more bailout money for AIG. Let the "best and brightest" earn their bonuses by digging themselves out of the mess they got themselves into.

AIG Bonuses

If we as a nation are so crazy as to forgo bonuses for AIG employees whoever can we possibly get with the requisite expertise to take their place now that Bernard Madoff is going to jail? Maybe he could get a work release. (Alas.)

This is a catch 22 situation---letting AIG fail would have a greater affect on our financial system than the Lehman failure , which the govt now realizeS was a huge mistake .At least this administration is learning from the previous mIstakes and has a tIgar by the tail that they are trying to TAME. BE PATIENT

tennessee governor has worked three years without any pay - free - using his own money. he don't ask for a bonsus- he is just wanting to help the state - now this is a true and honorable example that the "best" should follow if they care about our country.

It's all vile, full of corruption and rewards irresponsible financial decisions from reckless corporations to reckless individuals now to be 'saved' by a reckless government and all on the backs of responsible, productive people.

The writing's on the wall, capitalism as we've known it needs to die, and die now! The excutives of these corporations need to be forced to understand that when they get to that level, they are PUBLIC SERVANTS just like elected officials are. SCREW the law if it protects these greedy bastards. They need to have every single bit of wealth taken from them and forced to live like the rest of us.

Liddy also wrote the government's demands could affect AIG's ability to retain "the best and brightest talent to lead and staff the AIG businesses"

I don't buy that argument by Liddy. They failed and now they are being given a bonus?

If indeed the staff of AIG is "QUOTE"
AIG's ability to retain "the best and brightest talent to lead and staff the AIG businesses" Than why the H*** are they goung down the tube and taking the AMERICAN PUBLIC WITH THEM

Contrcts? You mean our Smartest Clueless Leader had no clue there are contrcts inbusiness even a commie like himself could not just tear it off if he does not come out of closet.

What is his promise to limit the executive pay to 250 grand? Is this another empty word done in the deep O?

Summers, please! Your continuous flood of money to AIG and the rest of the giants is disgusting. The system is BANKRUPT by BAILOUT ECONOMICS!

I believe AIG said it needed the bailout money because the consequences of failure would cause serious damage to the economy, and also to help save jobs for all their thousands of employees, suppliers and the like. Well, I'm sure the average secretary at AIG supporting her children has had her hours cut, benefits rolled back, and counted herself blessed because her job wasn't eliminated completely. What about all the small business suppliers to the AIG giant who undoubtably were pressured to take less for their goods and services (more likely told, "we're in trouble, we've got to tighten our belts-- so this is what we're paying you."). How do all these folks feel, who were probably told "we're all in this together, this is what we have to do to keep the company going" when they see a few of the people who led them into this mess in the first place rewarded? Apparently, once one is considered a "master of the universe," (thank you Tom Wolfe)one is entitled to lifelong entitlement-- a constant nod to their superiority. When help is extended to less self exalted people it's derided as welfare or (gasp!) socialism.

The irony is, AIG asked for/demanded that money for the good of the many (hm, so now socialism is ok?) and once received, an enormous part of it went straight to the few. When would you expect those bonuses will "trickle down" to the laid-off secretary?

Just want to give some thought to all of the "STIMULUS" bull.
First of all, if you want the banks to get back into good shape, the people who owe them money are the ones that need help! Not the bank, THE PEOPLE!! If the y could pay their mortgage, credit cards, car payments, the banks would be right back to where they were before all of this "stuff" started! Obviously, the banks that just want to be able to help themselves and their investments, not the people! They never have been interested in the people, just the people's money!
Nobody needs to be able to borrow more money, they need to be able to pay for what they already have!
If people go into foreclosure, what is the credit rating? Can you borrow money with a bad credit rating? NO!!!! No bank will ever loan you money for anything if you have a bad credit rating! Who is going to be able to borrow money from a bank that receives this "STIMULUS MONEY" if they have a bad credit rating? Yep, no body!
MONEY DOES NOT FLOW DOWNHILL ANYMORE! Just look at what AIG and others are doing. That money is going up to management people. It is not going into the caufers for loans to people! it is not going to help stop foreclosures! THE GOVERNMENT MUST GIVE STIMULUS TO THE WORKING FAMILY. They are the ones who make the economy work!
How about taxing the "heck" out of companies who have and continue to move good paying jobs to CHINA? The US now owes China money! What the hoot is this? Bring our jobs back here, put people back to work in those jobs, and bring our economy back with what we already had. By taxing the hoot out of these companies, they won't have the economic incentive to move these jobs out of this country! Protectionism??? Well what is this all about anyway? TRYING TO PROTECT our economy!!! SO DO IT! Make it more financially responsible to keep people in this country working than to pad the executive's pockets with more bonus money in one year than most working people make in their LIFETIME! DUH!
PEOPLE ARE WHAT IS IMPORTANT! Not executive's bonuses!!!!!!!!!!
Think about what really moves this country. Is it the executives or the worker who makes it possible for the companies the executives run, make a profit!?

My God George, you are letting this man get away with lying. Follow up on your questions. He say's they can't undo contracts okay, so why is the administration rewriting mortgage contracts and wanting to get principles reduced. No question about those contracts. Good Lord, do we need comedians to do the work of ALL media??

Does Mr. Liddy think that if we just let AIG go bankrupt that will 'affect AIG's ability to retain "the best and brightest talent to lead and staff the AIG businesses'? How about they give back the money they took from the American taxpayers and Mr. Liddy can dole out bonuses from the money they DON'T have?

And another thing, if these people at AIG are the "best and the brightest talent", why the heck did AIG need $170 billion to stay in business?

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