Comments on: Letter From AIG Chairman Ed Liddy to Timothy Geithner: We Have To Pay $100 Million Bonuses

By: SomeGuy

SomeGuy — Mon, 16 Mar 2009 03:41:45 +0000

Aaron Zelinsky (Articles Editor of The Yale Law Journal) says:

Larry Summers: Stop the AIG Bonuses. Yes You Can.

By: jakebob

jakebob — Sun, 15 Mar 2009 23:04:27 +0000

I’ll take the job for $30K and an apt. What say?

By: cinnamonape

cinnamonape — Sun, 15 Mar 2009 20:43:12 +0000

But the Repuglicans are going to “legislate”…so they won’t do anything either. If the Democrats come up with a response to these will the Republicans join? Or will they simply obstruct and protect their buddies?

By: Againstbailouts

Againstbailouts — Sun, 15 Mar 2009 19:39:18 +0000

Does anyone know if AIG guaranteed the derivative contracts at AIGFP? I read the 10K and cannot find it. I understand the bonus payments were guaranteed but that is a small number by comparison. If the derivatives were not guaranteed, why did AIG buyout the underlying mortgage paper with taxpayer money. Would it have been more prudent to put AIGFP in bankruptcy and spare the taxpayers $180 billion?

Someone please help me understand this.

By: jonerik

jonerik — Sun, 15 Mar 2009 18:00:27 +0000

This thing reminds me so much the Credit Mobilier scandal of the Grant presidency. That one involved the representatves in Congress who wired themselves in to the Union Pacific railroad construction through the Credit Mobiler and cashed in the government gold bonds for each mile of the railroad that got built. Congress later passed a bill that authorized the AG to sue the Union Pacific to get the money back but the US Supreme Court ended up dismissing the case, holding that the government “lacked standing” to recover the funds because the directors of the Union Pacific did not owe any fiduciary duty to the government.

By: timr

timr — Sun, 15 Mar 2009 17:49:41 +0000

Jon Stewert was right! the insiders knew what was coming and played all of us who were not in the club(wink wink) as if we were all idiots.
Get out the pitchforks and torches. I include both congress and the villagers in the msm along with the masters of the universe financial “experts” on wall st.

By: marymccurnin

marymccurnin — Sun, 15 Mar 2009 17:20:10 +0000

Dishonesty cloaked in the garment of legality. Immoral. This is our money that should be spent on health care. Not health insurance. Or education. Or roads. Sickening.

By: pluege

pluege — Sun, 15 Mar 2009 17:08:09 +0000

Dear ______________________

I could hardly be more outraged that my tax dollars are going to give bonuses to the scoundrel executives of AIG and Wall Street financial institutions that caused our current economic calamity. Accordingly, I insist that you do everything in your power to prevent executives of these firms that are receiving my tax dollars from getting bonuses of any kind. In the case of AIG, if I’m not mistaken, at 80% ownership, my US government is THE predominant stakeholder of AIG. As such, my preference is that the entire executive staff be fired and criminal investigations initiated. Short of that, if the executives are to be retained, it MUST be conditional on a redo of their contracts to eliminate any and all bonuses.

Sincerely,

By: Elliott

Elliott — Sun, 15 Mar 2009 17:07:14 +0000

LHP is up
AIG is teh funny

By: Imhotep

Imhotep — Sun, 15 Mar 2009 17:03:23 +0000

I’m calling McConnell’s office tomorrow and reminding him of today’s statement and will ask if he’s going to do something about it.