Why do people get angry at AIG bonuses?

Question

Why do people get angry at AIG bonuses when the Democrats put in a clause in the stimulus bill saying that if you are supposed to get contractual bonuses then you still get it. Somehow the MSM missed that. Even though we bailed out AIG which I don't think we should have, if a contract says something you have to follow it.

Answer 1

Yes the bonus is distasteful but is basically a distraction so people will not pay attention that we are going into debt for the tune of trillion of dollars the 165 million is the equivalent of farting in a storm my motto for Obama will always be...if you can't dazzle them with brilliance ...baffle them wit bulls**t

Answer 2

Well, I think they are looking at this mess as a legal agenda. When I was overseas, AIG was my car insurance and wow how much money they made without me having a car accident. But the government has a stake in all this and to do the right thing, the bonuses got approved. But maybe I am wrong. I know one thing, the only bonus I ever got for being a good ol boy was a kick in the butt.

Answer 3

There is a difference between legal and right. Legally, you are correct, contracts are binding. But people aren't mad about the legality of the issue, they are mad about what you could call the ethics of the issue. No matter how legally sound it is to give these bonuses, there is something ethically dubious about giving large sums of public money to wealthy people who were responsible for screwing up the company. It conflicts with a lot of people's ideas of justice and morality.



So this raises the question of whether the government should take steps to reclaim the money, whether legal measures should be taken and so on. Pointing out that a contract is legal is not an argument that the contract is right or good, and it is the latter which has gotten people fired up. In certain cases it is acceptable to violate a contract; the question is whether this is one of those times.

Answer 4

Let's get down to the brass tacks. The DemocRAT that put that little clause in was Chris Dodd, who got the largest contribution of any politician from AIG. The number Two recipient was none other than BO.



But the answer to your question is because it's a smoke screen, laid down to distract people from finding out that AIG has given 62 tax payer bailout dollars to foreign countries. And only spent 44 billion of it in America. So lets all get side tracked on a measly 165 million.



Don't get me wrong. I abhor the bonuses for failure. But it's only out there to disguise the really big crime. That crime was committed by your friendly DemocRATS running Congress!

Answer 5

Actually, they didn't miss anything. They addressed the issue of the bonuses a couple months ago and after much debate it was decided that if the government takes away their bonuses, the employees would sue, and win, and AIG would have to pay them anyway....which I think is bunch of BS. So, they gave AIG more money with full knowledge of the bonuses.

Answer 6

Because Obama's teleprompter says we must.



No republican voted for the bill, but that doesn't stop them from passing a partisan bill.



You're right though. Chris Dodd wrote the line in the bail out about letting them keep their bonuses. Now he says he didn't read that part.



I guess AIG didn't give enough to the Dodd campaign, or he wants more.



These clowns in congress would be laughed out of office if they were republicans.



If only congress was outraged by the bonuses to Fannie Mae execs who were thrown out of for fraud. That would be Jamie Gorelick and Franklin Raines, but they are democrats, so they can't be touched.

Answer 7

I am guessing you are just tuneing in from mars but heres the skinny on this

1 they lost there asses speclating in the mortgage market

2we gave them 170 billion dollars of the taxpayers money

3 they took the money and paid themselvs bonuses with it

4 we got pissed off because normally a bonus is paid for doing a good job not a bad one.



got that?

also dodd should be recalled for his actions in this

Answer 8

i am a retired property analyst for a major company. part of my duties were to examine records of a company that we were going to acquire outright or invest in.



one of the things we looked for were the contractual obligations that we would inherit in a purchase. a contract is a legal document and the business world requires them.



congress, gaither and others, did not do their due deligence and Dodd put in a clause that these contracts had to be honored.



IF a contract can be declared null and void just because you don't like the terms agreed upon, then no one can ever trust a contract again.



congress's fake outrage makes me want to puke, especially Barney Franks...he is one of the biggest reasons we got in this mess in the first place!!!

Answer 9

properly, i think of they're watching this mess as a criminal schedule. whilst i became into distant places, AIG became into my motor vehicle coverage and wow how lots money they made devoid of me having a motor vehicle twist of fate. however the government has a stake in all this and to do the superb ingredient, the bonuses have been given authorized. yet according to risk i'm incorrect. i comprehend one ingredient, the only bonus I ever have been given for being a powerful ol boy became right into a kick interior the butt.

Answer 10

just a propaganda stunt planned by Obama and AIG....Do you really think that AIG would announce that they are giving out bonuses and how much they are?.......Obama swooped down like the true action hero that he has been playing....good boy Obama...save the 150 million and let them keep the 200 billion that no one knows where it is going to.........planned stunt just to get people to believe Obama's crap.....200 billion and no one is tracking it.....can you say ..thank you from Obama himself......how stupid does he think people are...never mind that was answered last november

Answer 11

i do not believe that exects and ceos should be getting bonuses when their company is burning to the ground and they need the taxpayers money to stay alive

Answer 12

Yeah and now they all act like they are shocked that it is in there ! Isn't it time we stand up and tell Congress we aren't the fools they think we are ! This is a sick joke and we are the ones who are going to pay !

Answer 13

yep but what will happen is they will go after fraudulent practices that aig committed.



they are using the bonus as fire to go after them now that it is out.

Answer 14

Well, I don't get mad because I don't pay taxes. I do however get social security, so I am happy that these CEO's who paycheck comes in half of that goes into my social security.



So don't worry taxpayers, they are giving the money back to America and me!

Answer 15

Because its coming from taxpayer dollars. How many GOP members opposed the amendment? I'm guessing NONE.

Answer 16

Because it is the taxpayers' money. It's the taxpayers' money. It's the taxpayers' money. ( repeat as often as necessary until it sinks in).