PDA

View Full Version : AIG gives out $165 MILLION in bonuses - america is the most corrupt nation in the world


Speeders & Drunk Drivers are MURDERERS
March 15th 09, 06:01 AM
http://www.nytimes.com/2009/03/15/business/15AIG.html?_r=1&hp

A.I.G. Planning Huge Bonuses After $170 Billion Bailout

Published: March 14, 2009

WASHINGTON — The American International Group, which has received more
than $170 billion in taxpayer bailout money from the Treasury and Federal
Reserve, plans to pay about $165 million in bonuses by Sunday to
executives in the same business unit that brought the company to the
brink of collapse last year.

Word of the bonuses last week stirred such deep consternation inside the
Obama administration that Treasury Secretary Timothy F. Geithner told the
firm they were unacceptable and demanded they be renegotiated, a senior
administration official said. But the bonuses will go forward because
lawyers said the firm was contractually obligated to pay them.

The payments to A.I.G.’s financial products unit are in addition to $121
million in previously scheduled bonuses for the company’s senior
executives and 6,400 employees across the sprawling corporation. Mr.
Geithner last week pressured A.I.G. to cut the $9.6 million going to the
top 50 executives in half and tie the rest to performance.

The bonuses will be paid to executives at A.I.G.’s financial products
division, the unit that wrote trillions of dollars’ worth of credit-
default swaps that protected investors from defaults on bonds backed in
many cases by subprime mortgages.

The bonus plan covers 400 employees, and the bonuses range from as little
as $1,000 to as much as $6.5 million. Seven executives at the financial
products unit were entitled to receive more than $3 million in bonuses.

(snip)

-------------------------------------------------------

HAHAHA - and congress does nothing about it because our congressgangsters
are getting kickbacks everytime they give more of our money to these
crooks!!!

March 16th 09, 04:23 AM
On Mar 15, 2:01*am, "Speeders & Drunk Drivers are MURDERERS"
> wrote:
> http://www.nytimes.com/2009/03/15/business/15AIG.html?_r=1&hp
>
> A.I.G. Planning Huge Bonuses After $170 Billion Bailout
>
> * Published: March 14, 2009
>
> WASHINGTON — The American International Group, which has received more
> than $170 billion in taxpayer bailout money from the Treasury and Federal
> Reserve, plans to pay about $165 million in bonuses by Sunday to
> executives in the same business unit that brought the company to the
> brink of collapse last year.
>
> Word of the bonuses last week stirred such deep consternation inside the
> Obama administration that Treasury Secretary Timothy F. Geithner told the
> firm they were unacceptable and demanded they be renegotiated, a senior
> administration official said. But the bonuses will go forward because
> lawyers said the firm was contractually obligated to pay them.
>
> The payments to A.I.G.’s financial products unit are in addition to $121
> million in previously scheduled bonuses for the company’s senior
> executives and 6,400 employees across the sprawling corporation. Mr.
> Geithner last week pressured A.I.G. to cut the $9.6 million going to the
> top 50 executives in half and tie the rest to performance.
>
> The bonuses will be paid to executives at A.I.G.’s financial products
> division, the unit that wrote trillions of dollars’ worth of credit-
> default swaps that protected investors from defaults on bonds backed in
> many cases by subprime mortgages.
>
> The bonus plan covers 400 employees, and the bonuses range from as little
> as $1,000 to as much as $6.5 million. Seven executives at the financial
> products unit were entitled to receive more than $3 million in bonuses.
>
> (snip)
>
> -------------------------------------------------------
>
> HAHAHA - and congress does nothing about it because our congressgangsters *
> are getting kickbacks everytime they give more of our money to these
> crooks!!!

Even better is that the retards that constitute our population keep
votin' 'em in. :-D

You don't get "change" by voting for career politicians. ROTFLMAO.

March 16th 09, 04:31 AM
you HAVE to laugh at any fool who wanted "change" and voted in a crook
from the "chicago political machine" BWAA HAHHAHAHAHAH


"THE BLACK HAND" is the name of the international
terrorist group that is causing all the problems.

bandofotters
March 18th 09, 03:30 AM
"Speeders & Drunk Drivers are MURDERERS" > wrote in
message 0...
>
>
>
>
> http://www.nytimes.com/2009/03/15/business/15AIG.html?_r=1&hp
>
> A.I.G. Planning Huge Bonuses After $170 Billion Bailout
>
> Published: March 14, 2009
>
> WASHINGTON — The American International Group, which has received more
> than $170 billion in taxpayer bailout money from the Treasury and Federal
> Reserve, plans to pay about $165 million in bonuses by Sunday to
> executives in the same business unit that brought the company to the
> brink of collapse last year.
>
> Word of the bonuses last week stirred such deep consternation inside the
> Obama administration that Treasury Secretary Timothy F. Geithner told the
> firm they were unacceptable and demanded they be renegotiated, a senior
> administration official said. But the bonuses will go forward because
> lawyers said the firm was contractually obligated to pay them.
>
> The payments to A.I.G.’s financial products unit are in addition to $121
> million in previously scheduled bonuses for the company’s senior
> executives and 6,400 employees across the sprawling corporation. Mr.
> Geithner last week pressured A.I.G. to cut the $9.6 million going to the
> top 50 executives in half and tie the rest to performance.
>
> The bonuses will be paid to executives at A.I.G.’s financial products
> division, the unit that wrote trillions of dollars’ worth of credit-
> default swaps that protected investors from defaults on bonds backed in
> many cases by subprime mortgages.
>
> The bonus plan covers 400 employees, and the bonuses range from as little
> as $1,000 to as much as $6.5 million. Seven executives at the financial
> products unit were entitled to receive more than $3 million in bonuses.
>

In Washington, when a spending bill contains pork someone will say something
to the effect that it only amounts to x% of the total spending to belittle
the amount. As much as I hate the magnitude of these AIG bonuses when stated
as a relative percentage (i.e. in Washington-speak) it only amounts to less
than one-tenth of 1% of AIG's bailout package of 170 billion (0.1%).
Remember that the next time a politician tries to minimize the magnitude of
the waste in Washington with bogus statistics.