A.I.G. to Pay $100 Million in Bonuses After Huge Bailout

Just pathetic. I'm not living in poverty or anything, but the idea that my tax money is being used to give incompetent already obscenely wealthy fucks a bonus for sucking at their job just makes me sick and frankly pissed at the government.

 

Here's a stat regarding AIG that I'm still having a hard time fitting in my mental Samsonite...

The U.S. Government, i.e. all of us, has given AIG more money than it spent on the Marshall Plan. And all that did was rebuild Europe after WW II.

I'll pause now, while all of you get the pitchforks and torches...

 

Unfuckingbelieveable

 

The vast majority of this board - you know who you are - were on board with the bailouts.

Oh, we have to. It will be financial armageddon if we don't bail out these companies! It will trickle down to main street!

Where you guys got your opinion, I don't know. Probably those dopey tv blabfest shows.

What on earth did you think was going to happen when you bail out corrupt, repulsive companies? Have you seen the bonuses for the past five years? Do you think these people would suddenly see God, and wean off the teat of bonuses?

Bonuses for these assholes is like mother's milk. They need bonuses like people need air. This culture can't be changed. We are trillions in, and the Obama administration has signed off on these bonuses.

You guys are the ones to blame. You signed off on the bailouts. If you somehow believed that the culture was going to change, that's a *you* problem, not an AIG problem.

As I said in September, we should have saved trillions and let these companies fail.

 

Should have used the money to insure deposits. So that if the banks failed people got their money.

That would be what two trillion worth of insurance?

 

Never, ever should a financial institution be allowed to grow this large.

I am so close to saying fuck em, but I know people who have their retirements tied into these fuckers.

 

So Liddy says he's worried about lawsuits for not fulfilling contracts. Fuck 'em. Let the lawsuits come. Even if AIG loses in every single instance, it will still be worth it to know who these criminals are who are lining up for their extra pay in the face of Armageddon.

 

Question about terminology:

If you are employee and your are guaranteed a certain amount of pay at the end of the year regardless of performance by you or your employer, wouldn't this constitute "regular salary" and not be a bonus?

 

Hear, hear. This would also be a very sound business strategy, one that is employed every day by AIG and other insurers when someone dares to make a claim on a car policy. It's legal obstruction. To get their money, the anonymous pirates would have to name themselves in court documents. They would have to pay very expensive legal fees that reduce their overall take. And they would have to submit to depositions that carry huge potential for uncovering their fraudulent activities.

To avoid all that, I bet most of them would take 20 cents on the dollar for the bonuses they're "owed."

 

Maybe I need to hear the other side of the argument, but so far, I think I like this idea.

 

I'd like to see the SEC make all bonuses be conditional on certain thresholds, like financial solvency.
Wall Street has to change the equation, suspend all bonuses after a stock drop of 15 percent or more, or after criminal legal action against a company. Right now the incentives are all toward taking risk with other people's money. They don't give bonuses for playing by the rules.

 

Let. Them. Fail.