Obama, frank, dodd, and stewart and whoever else"Dammit, i'm mad as hell and I'm not going to take it any more!" I'm not mad at AIG employees, i'm surpised they stuck around ,they also probably have really nice retirement packages and resignation packages!They can't leave, and the frickin government won't let them fail. Obama wants to appear like he even frickin knows what AIG does, he knows they give out large campaign donations!
http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/ interesting chart at the bottom of the article.
Look, if you're so happy about this, why don't you go down to AIG HQs and donate your own money to their payroll. FORCE MAJEURE CLAUSE! Google it. There is no contractual obligation to uphold business agreements & contracts, let alone scumbag employment contracts when the sh*t hits the fan. I mean really, how exactly are going to enforce the contracts anyway.. AIG is bankrupt as we speak. Need a confirmation? Check their stock price & balance sheet. Or maybe consider the fact that they are crying for billion dollar injections every other month just to stay afloat. Do you know why the taxpayers are upset? It's their money, that's why. But since you & others like you think it's ok, how about getting those who think otherwise off the hook by paying our taxes.
I am no lawyer but I don't think there is cut and dry criteria for a sexual assualt case, whereas a company who is bankrupt has filed for bankruptcy...the criteria is cut and dry. And your second point I agree with completely. AIG SHOULDN'T pay out these bonuses, but it's not a matter of they CAN pay the bonuses, it's that they HAVE to pay. Again, I'm no lawyer, but as I understand it the employees could take AIG to court and win.
We don't think its ok,, read the posts! i just don't buy the argument that 1. their bankrupt so they cant give out bonuses. Technically they are not bankrupt! 2. either we are completly stupid to beleive that our government doesnt know about this and the bonuses or our governemnt is really stupid. they are not stupid they are hypocrits and rthey think u and i are stupid! who the frick elected these people! if bush did this he would gave been impeached! in less than 100 days ,obama and these opportunistic scum bags should be impeached! They ok all of this and have played completly stuupid thinking it works!it works for you. AIG and their employees wanted to go bankruypt just like gm but we dont want them too...blah bblah
Actually I know quite a bit about compensation contracts as I am an accountant in Canada. The law may be slightly different in USA than Canada. If what you are saying is true, the government would have already stepped in and disallowed the bonuses to be paid out...Obama wouldn't be on TV saying Geithner will look into all legal means to stop it, it would have already been stopped.
If your force majeure clause argument was valid I'm sure the government is aware of it. They would have stated this is the case and would reassure the public that AIG can't pay out the bonuses. This did not happen... I don't think it's OK. I even stated in a previous post that I am against the morality or lack thereof of the whole situation. So stop getting offended just because I am trying to argue the legality of what AIG is doing.
speaking of force majeure clauses, did Trump end up getting out of the money he owed Deustche Bank by invoking this clause in his contract?
While I have absolutely no sympathy for anyone at AIG, I tend to agree with you. Congress has way too much shit in their game to be talking trash. I'd like to see some of these exec's from wall street and the auto industry tell congress...I'll resign my position, right after you resign yours. Otherwise, blow me. Just be careful saying that to Barney Frank as he'd be likely to hit his knees.:eek: :eek: :eek: