Notorious A.I.G. is the title of the article (I thought that was pretty clever too).
In this article, I read a few things I never thought I would ever read. The most notable one was a quote from Senator Charles Grassley from Iowa ". . . when he called on AIG executives to 'resign or go commit suicide'".
And he didn't back down and apologize like a big stinky Bob Costas afterward either.
Thank you, New York Post, for your rather blunt article. I enjoyed it.
Is there a link to the article? 
The person that wrote that might not realise what some of us could do to a person's daughter in 30 seconds or less.
And he's also a die-hard Obama fan, apparently. Nobody would have made a cartoon like that if they thought the headlines were making Bush look bad. They'd have been all for it.
And shame on idiots who can't tell the difference between a million and a billion anyway.
A trillion here, a trillion there, pretty soon you're talking real money.
I am glad to see the news getting all over this...
I own a small business.. if I fail, I get stuck with the bills.
If they fail, they still get their bonuses? Something does not add up in never never land
One million dollars in $100 bills:
One billion dollars in $100 bills:
One TRILLION dollars in $100 bills:
I suppose I shouldn't be surprised that people are buying into this garbage by the millions. Let me just remind everyone quickly:
YOUR FEDERAL GOVERNMENT STOLE MONEY FROM YOU AND GAVE IT TO THESE berkeleyERS.
Oh wait, that's right, it's "A loan that will be paid back to the American people." I'm still waiting on my check.
Congress says "THE SKY IS FALLING! WE'VE GOT TO GIVE THESE berkeleyERS SOME DOUGH! NOW!" and America buys into this E36 M3. A.I.G. compensates their employees per said employees contracts (less than 1/10th of 1 percent of the money the government stole from you and gave to these idiots,) and Barney Frank pulls the phallus out of his big slobbering pie-hole long enough to say "AH-HA! Since what you did isn't illegal, we'll just tax the income at 90%!" and America says "HOOOORAAAAAY."
So congress is setting a precedent, deciding they can say "Hey! You over there! You make too much money, I don't like the way your making it. There's nothing illegal about it, but we're going to take 90% of your paycheck." And here we are, cheering them on.
I can't berkeleying take it anymore. Please excuse me while I go destroy something.
poopshovel wrote: Please excuse me while I go destroy something.
Post video 
poopshovel wrote: I suppose I shouldn't be surprised that people are buying into this garbage by the millions. Let me just remind everyone quickly: YOUR FEDERAL GOVERNMENT STOLE MONEY FROM YOU AND GAVE IT TO THESE berkeleyERS. Oh wait, that's right, it's "A loan that will be paid back to the American people." I'm still waiting on my check. Congress says "THE SKY IS FALLING! WE'VE GOT TO GIVE THESE berkeleyERS SOME DOUGH! NOW!" and America buys into this E36 M3. A.I.G. compensates their employees per said employees contracts (less than 1/10th of 1 percent of the money the government stole from you and gave to these idiots,) and Barney Frank pulls the phallus out of his big slobbering pie-hole long enough to say "AH-HA! Since what you did isn't illegal, we'll just tax the income at 90%!" and America says "HOOOORAAAAAY." So congress is setting a precedent, deciding they can say "Hey! You over there! You make too much money, I don't like the way your making it. There's nothing illegal about it, but we're going to take 90% of your paycheck." And here we are, cheering them on. I can't berkeleying take it anymore. Please excuse me while I go destroy something.
Amen. Preaching to the choir here. We're headed towards hell in a handbasket and we (the people) are cheering it on, wanting to get there faster.
I heard yesterday that Congress wants to pass a Bill that would tax these bonuses @ 90%. It was specifically written for the AIG folks.
In the 6th grade I learned about the Expost facto bill, that is if you wear green underwear on Tuesday and NEXT Tuesday they pass a law making it illegal to wear green underwear on Tuesday, they can't reach back and convict you of a crime that wasn't a law at the time.
OK, the 6th grade was some time ago, but if they pass a Bill now, how can AIG be forced to give up the bonuses?
Dan
I was begining to think I was the only one who had a problem with this.
Now for some entertaining backpedaling:
http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/
Amid AIG Furor, Dodd Tries to Undo Bonus Protections in the 'Dodd Amendment' Rules Senate Banking Committee Chairman Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG: 1.1, -0.49, -30.82%) bonus recipients so the government could recoup some or all of the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax. While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. The provision, now called “the Dodd Amendment” by the Obama Administration provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” -- which exempts the very AIG bonuses Dodd and others are now seeking to tax. Dodd’s original amendment did not include that exemption, and the Connecticut Senator denied inserting the provision. “I can't point a finger at someone who was responsible for putting those dates in,” Dodd told FOX. “I can tell you this much, when my language left the senate, it did not include it. When it came back, it did.” “Because of negotiations with the Treasury Department and the bill Conferees, several modifications were made,” Dodd Spokesperson Kate Szostak in a response to FOX Business. The provision excluding those bonus payments made it into the final version of the bill, and is law. Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org. Also, one of AIG Financial Products’ largest offices is based in Connecticut. “Senator Dodd was completely unaware of these AIG bonuses until he learned of them in the past few days,” wrote Szostak. To suggest that the bonuses affecting AIG had any effect on Senator Dodd’s action is categorically false.”
He knew nothing about the AIG bonuses he unwitingly protected. So he was accidently loyal considering he recieved the most money from AIG of anyone in the senate, a mere $103,000.
This nonsense would be hysterical if it were some other country.
P71 wrote: One million dollars in $100 bills:
I would be happy with one breif case of $100 bills
SketchUp FTW.
The last time AIG came to the government asking for more bailout money, they should have just said, "That's not needed, we already have a program for companies like you. It's called Chapter 7."
914Driver wrote: n the 6th grade I learned about the Expost facto bill, that is if you wear green underwear on Tuesday and NEXT Tuesday they pass a law making it illegal to wear green underwear on Tuesday, they can't reach back and convict you of a crime that wasn't a law at the time. OK, the 6th grade was some time ago, but if they pass a Bill now, how can AIG be forced to give up the bonuses?
Your question contains the answer. The prohibition on ex post facto bills applies to criminal matters only. It does not apply to taxes.
Also, poop is right. There are lots and lots of people slobbering at now having a precedent for a 90% tax rate right now, and that scares the E36 M3 out of me.
Lest you think I'm an alarmist, remember that Britain had a 95% top marginal tax rate in the '60s. (Hence the Beatles' song "Taxman.")
Wally wrote: I was begining to think I was the only one who had a problem with this. Now for some entertaining backpedaling: http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/Amid AIG Furor, Dodd Tries to Undo Bonus Protections in the 'Dodd Amendment' Rules Senate Banking Committee Chairman Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG: 1.1, -0.49, -30.82%) bonus recipients so the government could recoup some or all of the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax. While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. The provision, now called “the Dodd Amendment” by the Obama Administration provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” -- which exempts the very AIG bonuses Dodd and others are now seeking to tax. Dodd’s original amendment did not include that exemption, and the Connecticut Senator denied inserting the provision. “I can't point a finger at someone who was responsible for putting those dates in,” Dodd told FOX. “I can tell you this much, when my language left the senate, it did not include it. When it came back, it did.” “Because of negotiations with the Treasury Department and the bill Conferees, several modifications were made,” Dodd Spokesperson Kate Szostak in a response to FOX Business. The provision excluding those bonus payments made it into the final version of the bill, and is law. Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org. Also, one of AIG Financial Products’ largest offices is based in Connecticut. “Senator Dodd was completely unaware of these AIG bonuses until he learned of them in the past few days,” wrote Szostak. To suggest that the bonuses affecting AIG had any effect on Senator Dodd’s action is categorically false.”He knew nothing about the AIG bonuses he unwitingly protected. So he was accidently loyal considering he recieved the most money from AIG of anyone in the senate, a mere $103,000.
(In my best Gomer Pyle voice:) SURPRISE! SURPRISE!
I'm glad I'm not the only one disturbed by the 90% tax precedent. If I'm not mistaken, I heard on the radio this morning that Slobbering Barney and the gang ran it through the house. berkeleying fantastic. My wife says I'm not allowed to watch the news today.
I was talking to a friend of mine today. She does IT for AIG
Basically, none of the rank and file or anybody else got even a christmas bonus this year. They were told there was no money for bonuses.. yet they pull this.
And when broken down... if the execs forgo their bonus money for one year.. nobody would need to be laid off.
PS: Yup. It passed last night. I'm interested in finding out who the 85 "Republicans" are that voted 'yes.'
http://news.yahoo.com/s/ap/20090319/ap_on_go_co/aig_outrage
mad_machine wrote: I was talking to a friend of mine today. She does IT for AIG Basically, none of the rank and file or anybody else got even a christmas bonus this year. They were told there was no money for bonuses.. yet they pull this. And when broken down... if the execs forgo their bonus money for one year.. nobody would need to be laid off.
Anyone still wanna cry big tears for the poor filthy rich dudes who may have to settle for...hell I dunno what they do with that much money, a 120-foot megayacht instead of a 200-footer?
The tax is specific enough that it only takes back government money as far as I can tell. And as I've said before, any company running on government money should have silly frivolities like insane CEO bonuses on LOCKDOWN.
I agree with you.. if nothing else, it is a perception thing with the public... who wants to see your tax dollars funding the CEO's 4th house in the hamptons?
I am just amazed that the same people who thought the Govt under a repub prez was the great satan think that a Govt with Obama at the helm is a savior.
GameboyRMH wrote: Anyone still wanna cry big tears for the poor filthy rich dudes who may have to settle for...hell I dunno what they do with that much money, a 120-foot megayacht instead of a 200-footer? The tax is specific enough that it only takes back government money as far as I can tell. And as I've said before, any company running on government money should have silly frivolities like insane CEO bonuses on LOCKDOWN.
Take your class warfare elsewhere, please.
GameboyRMH wrote: The tax is specific enough that it only takes back government money as far as I can tell. And as I've said before, any company running on government money should have silly frivolities like insane CEO bonuses on LOCKDOWN.
The CEO of AIG, Edward Liddy, is getting a salary of $1 this year and is not getting a bonus. He was not CEO when the company had its meltdown, but was asked to step in by Henry Paulson (then Treasury Secretary) and turn things around. I think he deserves a bonus for the work he's already done (cut exposure to toxic debt by about a third). If he does turn things around, I think he deserves a HUGE bonus. How many of these other employees had artificially low salaries with the incentive that they'd get a bonus if they met certain goals? Why screw them over? How many incredibly talented and intelligent people are now going to flee AIG because of this ridiculous, knee-jerk reaction? Do you think they'll be able to attract decent talent now? Of course, if AIG does fail in the next few years because all of their talent leaves, it won't be congress' fault, or because of the outrage of the sheeple, it will be because of Liddy and his capitalist-pig cronies.
Bob
You'll need to log in to post.
