"This is a corporation that finds itself in financial distress due to recklessness and greed...""I mean, how do they justify this outrage to the taxpayers who are keeping the company afloat?"
- B. Obama
Weird...it's like he's talking out of his ass.
And of course he's ignoring the fact that they only paid the bonuses they were legally required to pay according to their contracts. If they hadn't paid those bonuses, they'd be looking at multiple lawsuits for breach of contract. They would have had to pay the bonuses, plus attorney's fees, and possibly punitive damages on top of all that. Would that not have come out of the bailout money?Oh. Right. He doesn't want facts, just what he considers fair.wv: nomata "Facts nomata to him."
Wait, I don't understand...he *keeps* giving them money, so there should be no problem, right? ugggggh. It'd be funnier if it weren't so sh**ty.
What Obama doesn't get is that these bonuses were part of CONTRACTS agreed upon well before AIG took bailouts.Forgive me if I don't like the idea of the government being able to intercede and dissolve private contracts as it sees fit. The very notion that they think they can do this is scary as hell.Instead Obama and the media are saying "this is wrong" and at least a few talking heads have said Obama needs to stop the payments regardless of the contracts.
Mike W is correct also AIF has several companies and the Life and Health Insurance are in very good shape. The agents that sell these policies are only paid on commision and they get bonuses as part of their compensation. So unless we know the deatils I am not going to get upset that AIG paid the bonuses according to contract.AiIG was bailed out because they underwrote the Credit Default Swaps to Mortgage Backed Equities and the French bank held a vast number and the first bailout was to preserve the foreign banks. The second may be for the same reason. AIG did not have anogh reserves to pay all those claims which was in the multi billions or trillion.
The more you talk about him the more you give him creadence (sp?)Lets just admit that he is a moron and leave it at that.
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