Is DeSantis ugrateful?

I understand AIG offered retention agreements over and above regular salary to those employees they wanted to have stay to dismantle/unwind their positions sometime early last year (prior to bailout) . In October AIG assured the retention contracts would be honored if the employees stay to whenever they complete the assignments.

 

Important point made by tr51 in when the bonuses were actually awarded.

AIG bonuses one of the “unintended consequences” that occurred when Hank Paulson started handing out all that money. Geithner just trying to resolve this problem.

Dumbass AIG employees, (excuse me: I mean government employees now working at AIG) want a reward for “unwinding” trades they made which caused AIG ‘s demised.

 

http://blogs.barrons.com/stockstowa...or-mulligan-on-best-buy-call/?mod=rss_BOLBlog


Here's an example of an analyst that gets paid good money to be wrong.

Just like AIG ho's

 

If DeSantis satisfied the obligations in his retention agreement, he was entitled to payment regardless of whom funded it. There might be room to criticize AIG for entering into those agreements, but not for honoring them.

 

So if your wife agrees to empty your bank account into my pocket, you have no beef with me , only with your wife?

Moron.

 

Yet another stupid statement by someone who does not understand the situation.

What part of this do you not understand?

AIG is bankrupt. AIG is now like a government entity: the post office, the coast guard etc.
Employees there are lucky to even get a paycheck every two weeks. Do you see Circuit City employees getting a bonus; HELL they aren’t even getting a paycheck anymore. When FDIC takes over a bank every Friday night those employee’s are hopeful the new owners will even keep them around.
AIG bonuses “unintended consequences” when Hank Paulson starting handing over government money to a company that otherwise was bankrupt. All bonus contracts ended when government took over AIG.
Giethner should tell them: “Bonuses HELL you guys are luck to even have a job”.
This is why GOLDMAN wants to give back TARP money so it can pay huge bonuses to all employees.

Now something new:

Heard somewhere AIG which took government money and paid its counterparty 100% in full to Goldman, Morgan etc. What is this about???????
Are these the same traders whom stayed around to “wind down” operations. Someone needs to call AIG counterparties and negotiate a cent on the dollar to end counterparty contracts. Amazing this entire situation.

 

Although AIG is winding down, it is has not filed for bankruptcy (because federal government funding prevented a bankruptcy filing).

No, they did not. There is no basis for abrogating these contracts due to change in ownership.

Are these contracts grounded in poor business decisions and greed? Absolutely, but those are not sufficient reasons to cancel the bonus contracts, no matter how distasteful their payment may be to those of us funding them. The federal government, on our behalf, accepted those obligations when they acquired AIG.

 

This guys a bleeding heart lib.

"distasteful", thats a code word these imbeciles use to justify crimes committed by vermin and perverts.

In libspeak it means, yeah, any right thinking person knows its wrong, but we are going to let them get away with it because we hate ourselves and like to be victimized.

Like Savage says, liberalism, its a mental illness.

 

You do realize that it does not matter that having given AIG the money in the first place was stupid. It was and no one is going to deny that. It should not have been done, but it was.

Now we own the company...so we have to decide. Would we like to let it be run like Amtrack and the DOT?...or do we HOPE (I know we all love that word now) to at least get some of our investment back? Well...if we'd like to at least get some of that investment back, we need smart people to stick around..probably people like DeSantis.

As to him being ungreatful because his bonus is an amount the average American has to work 20 years to make...so fucking what!? You realize that about 1/3 of American's dont even have a HS education, and about half of the ones who do are basically illiterates. Why shouldnt a guy who put himself through MIT make more then a bunch of lazy idiots?

 

Contracts typically contain force majeure clauses. Here a sample

Sample force majeure clause

"No Party shall be liable for any failure to perform its obligations where such failure is as a result of Acts of God (including fire, flood, earthquake, storm, hurricane or other natural disaster), war, invasion, act of foreign enemies, hostilities (whether war is declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, nationalisation, government sanction, blockage, embargo, labour dispute, strike, lockout or interruption or failure of electricity [or telephone service], and no other Party will have a right to terminate this Agreement under Clause 19 (Termination) in such circumstances."

"Any Party asserting Force Majeure as an excuse shall have the burden of proving that reasonable steps were taken (under the circumstances) to minimize delay or damages caused by foreseeable events, that all non-excused obligations were substantially fulfilled, and that the other Party was timely notified of the likelihood or actual occurrence which would justify such an assertion, so that other prudent precautions could be contemplated."

http://en.wikipedia.org/wiki/Force_majeure