Are you angry that AIG took 170 Billion

[Chiutfan]

and then paid 165 Million out in the incentives and bonuses?

[gallavol]

Not as angry as I am that they did not give me say...1% of it. bastards.

[Napervol]

*people who have never worked a day in their life
*illegals coming in and getting medical care by identity theft and the all of our insurance going up
*paying the gamblers who never should have been in those houses who now have the cover of being ignorant or hoodwinked
*spending money by the billions will little to none being job generating unless it is for gov't jobs. I.E., more jobs programs for those political payoffs that we are so used to in Illinois

But yep, mad. Any company in that bad a shape....which normally would have gone out of business......should have a moritoriam on bonuses until they become solvent

[TennesseeTuxedo]

The bounses were part of the existing AIG contracts.

I'm pissed at Congress for voting to give AIG the money in the first place. Its just like the "stimulus package". They voted on it without looking at the bill and seeing what was in it.

[WestPointDad]

The bounses were part of the existing AIG contracts.

I'm pissed at Congress for voting to give AIG the money in the first place. Its just like the "stimulus package". They voted on it without looking at the bill and seeing what was in it.

Yep, there is a whole other side to the stories the media is putting out there about these situations.

My wife works for Wells Fargo Mortgage. The media went bonkers over Wells Fargo's incentive trips to Las Vegas and the cruise my wife had qualified for.

The story goes like this:

Wells Fargo is a very conservative bank. They did not make the questionable types of loans some of the other banks did that got them in trouble and was the reason for the "bail out" loans. They were and are rock solid financially because they didn't do business in a risky manner.

When Wachovia was in trouble, the Feds came to Wells Fargo and asked them to consider taking over Wachovia and saving it from catastrophy. Wells Fargo made the decision to take over Wachovia, and with it came the bail out monies that were designated to Wachovia. Wells Fargo didn't need the money for Wells Fargo, but were basically told that they had to take it.

So, anyway, the media got up in arms about Wells Fargo awarding the incentive trips to Wells Fargo employers for the calendar year 2008, which was before the Wachovia takover was finalized. Wells Fargo was using zero bailout monies to fund those award trips. The main stream media failed to include that fact in their stories, and of course public opinion turned against Wells Fargo in a hurry. Wells Fargo had no choice but to cancel those trips from a PR standpoint, even thought the bailout monies were going to keep the Wachovia issued loans and accountholders afloat, and not the Wells Fargo side.

In essence, the only people that are hurt are the Wells Fargo employees who have worked hard to make Wells Fargo one of the strongest banks in the country. The incentives they earned are long gone, because Wells Fargo tried to help the American economy by saving a failing Wachovia. Off the record Wells Fargo officials have said that they wish they had steered clear of Wachovia and that Wells Fargo would have been better off if they had.

[clintonaldo]

As most of you know I own an Insurance Agency that didn't borrow money because we are in " Good Hands". Today, I got the email saying my trip to Atlantis was cancelled because of how it would look right now. Thank you AIG. You offered unbeatable rates for years and when I was finally about to screw you for a change you fuck me back.

[WestPointDad]

As most of you know I own an Insurance Agency that didn't borrow money because we are in " Good Hands". Today, I got the email saying my trip to Atlantis was cancelled because of how it would look right now. Thank you AIG. You offered unbeatable rates for years and when I was finally about to screw you for a change you fuck me back.

Now you know how my wife and her co-workers who busted their humps to earn a simple 4 day cruise feel. Join the club.

What town is your agency in?

[clintonaldo]

I'm in Chattanooga. What does your wife do? PM me if you like.

[jbakes]

These bailouts shouldn't have happened period IMO except possibly saving the banks for the sake of the country and even that with significant stock changing hands over to the Feds to later be sold.

[BrassVols]

and then paid 165 Million out in the incentives and bonuses?

How big is 165M compared to 170B? Ballpark it's a little less than 1 part in 1,000.

Now, what if you were to loan me $100, and I told you "well that's awfully nice of you Chitty, but if you do I have to take ONE CENT, ONE FRIKKIN PENNY, and give it to someone you don't like because a contract says I owe them that much"?

Would you be outraged?

Would you think the MSM should be all over it like stink on shit?

Because that's how freaking ridiculous all this reaction about the executive bonuses at AIG is.

AIG had net revenue of $110 BILLION and profit of $6.2B in 2007. Those figures are what the executives contracts would have been based on for 2008. What fraction of a $110 BILLION company is $165M? 0.2%. Why is it that you think that's outrageous?

You can argue all you want to about their bonuses and side with the idiot populist lemmings like Obama and the MSM who wouldn't know how to run a company if their life depended on it, but the facts are that the contracts for those executives say what they say based on conditions prior to 2008. If they have lousy incentive clauses in them, it doesn't matter, they're still contracts.

Goddamn, the level of business/economic incompetence of the average American drives me up the wall!

[Dean]

I vote we move this poll to the morass where it belongs. The poll itself isn't political, but the responses.....

[clintonaldo]

I am pissed at AIG but the media and Obama are just grandstanding with this shit. AIG is obligated to pay those bonuses and like you said if $200 million were all it took to fix AIG it would be another story. Obama is all over this because it takes the heat off of his ass.

[TennesseeTuxedo]

I am pissed at AIG but the media and Obama are just grandstanding with this shit. AIG is obligated to pay those bonuses and like you said if $200 million were all it took to fix AIG it would be another story. Obama is all over this because it takes the heat off of his ass.

The AIG handout/bailout is 100% Tim "Turbo Tax Evasionist" Geitner's plan. It was not Paulson's plan. It is 100% on Obama and Geitner.

[TennesseeTuxedo]

AIG Is A Distraction To Cover Up A Government Scam (http://outermonvolia.net/board/showthread.php?p=5338#post5338)