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Old 03-23-2009, 10:37 PM   #7
Darth Avlectus
@Darth Avlectus
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Join Date: Dec 2006
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Originally Posted by Jae Onasi View Post
I'm really ticked off about my tax dollars being used for the executives' exorbitant salaries, and Congress not thinking ahead to put more strings on the money so this couldn't be used that way. It would have been very easy for congress to stipulate what that money could and couldn't be used for.
As much you (or anybody else) has a right to be angry about it. Our hard-earned tax dollars being flushed completely down the toilet. I saw talk of this over a year ago when it all happened. The reaction we all had was basically rolling our eyes because, let's face it, we all knew where this was going to lead to: the sitch we have today. None of us really thought that anything was going to be done about it as a result because we're all so used to just getting screwed, by now.

It does make one wonder just how far they (congress) have their heads up their asses, doesn't it Jae? And if lack of foresight and stipulations in advance is any indication, this next few years with congress is going to be a long bout. Unless this was intentional...but that would be speculation on my part. I have no source, but it is something I am if only they'll put their foot down their throat to prove it.

Also--why on God's green earth are they getting performance bonuses when their company performed so poorly they had to get bailed out? The execs would have gotten zero bonuses if AIG was bankrupt.
I know I certainly don't support lackluster, mediocre, or in this case just utterly FAILING performance. That defeats the hardworking mentality that shaped and founded this country.

Originally Posted by EnderWiggin (emphasis mine)
The bonuses are mostly in return for pay cuts - the executives decided that instead of making $∞/year, which looks bad, they would only make $(.5∞)/year and then take another .4∞ at the end of the year as a bonus.

Whereas I believe that this (the taxation) is ridiculous. The government is abusing a bit, IMHO. The bonuses were granted to them by their contracts, so why can't Congress keep their hands out of it? I mean, seriously, I'm pretty liberal, but now they're interfering because they don't like how their first interfering is working out!
That is a very good point and question. You do something, it's not working out the way you like--probably due to lack of thinking ahead, so then you come in and do more since you dislike the results.

Why can't congress keep their hands out of it? We could ask but I doubt we'd get the answers we are looking for. Though as I hinted, I think it is as a result of either

a) head up hienee
b) to make an example (though this is a pretty wasteful and inefficient way to do it, no?)
c) something else I could say but would not be tolerated because it is speculative...let's just call it underhanded though

Originally Posted by Ender
The people are granted their bonuses, I don't think the government has a right to take that away all willy-nilly like.

Do I think that this should be occurring? No, but we reap what we sow. This is how the system we designed is set up, and therefore, this is the way we should run it.
Hmm. Is that cynicism I'm hearing?

Well, I guess. Still........We elected officials to do a job, and hope they would do it well. We see this, and it makes us scratch out heads.

Originally Posted by Ender, emphasis mine again
If we didn't like how the company was run, we should never have bailed them out in the first place.
QFE&T My sentiments exactly.

Also, what do you care? AIG promised to pay back every cent. Now, if the bailout does what it was designed to, which is save AIG, then it won't matter to you because your "taxpayer dollars" (which you were going to give up anyway, but are now just going to a different end location) will be fine. If that's the case, and they'll repay, then let them run the company. If they tank anyway, and don't repay, then all of your taxpayer dollars are out the window, no matter what they were spent on.

FTR, these bonuses are comparatively trivially sized in relation to the bailout (it's like 0.02% or something).


Originally Posted by Tysyacha View Post
In my opinion, AIG only stands for A$$holes Incredibly Greedy. We should not have bailed them out in the first place, because that only set the stage for them clamoring for even more money. Are they God, or acting like gods, in terms of the national and global economy? Let's remember that years ago, there was no AIG, and we did reasonably OK. Sure, if there were no more providers of computers, or more likely electricity, food, or water, THEN I'd be worried, but what did AIG do? Collect premiums on a legalized form of gambling, because people pay premiums and expect catastrophic stuff NOT to happen.

Maybe I'm as stupid as the AIG execs, but I fail to see how they can't be allowed to fail...
No, you're right on I think.

We watched as they had a 'meeting' in Hawaii late last year and the took 14 $25k (or was it 250K?) per trip, private jets there. If they were really so incredibly concerned about failing, would they have been doing this crap? ...I don't think so.

I'm a fairly conservative guy, yes, however I am for the right kinds of regulations. Regulations well thought out that safeguard against catastrophe and punish underhanded behavior. Even so, I guess regulations ultimately can't make someone a better manager of their business, and like all things are eventually not foolproof. I'm also for leaders who do what they are supposed to--fat chance though.

The whole reason I waould be for less government is on account of presonal resposibility and common sense. So that we don;t have bumbling government of this kind enforcing it (or apparently not). It would seem (in that department) for both business and government, we (the US) have sorely been lacking. Feel free to agree or disagree.

EDIT: we can be as ticked off as we want to be, but it isn't really going to change anything...though our vote will, so pray that our power of vote remains intact!

That's right, Bixby Snyder folks.
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