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AIG takes $170B bailout. Pays execs $165M in bonuses.


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I hate to have to follow one of Homer's gems, but this article got a big LOL out of me..

[quote]Senator on AIG execs: Quit or commit suicide :o
Aide later says he doesn't want them to kill selves, but wants apologies
The Associated Press
updated 9:50 a.m. ET March 17, 2009

IOWA CITY, Iowa - Iowa Sen. Charles Grassley suggested on Monday that AIG executives should take a Japanese approach toward accepting responsibility for the collapse of the insurance giant by resigning or killing themselves. :headbang:

The Republican lawmaker's harsh comments came during an interview with Cedar Rapids, Iowa, radio station WMT. They echo remarks he has made in the past about corporate executives and public apologies, but went further in suggesting suicide.

"I suggest, you know, obviously, maybe they ought to be removed," Grassley said. "But I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide."

"And in the case of the Japanese, they usually commit suicide before they make any apology."

'He doesn't want U.S. executives to do that'
Grassley spokesman Casey Mills said the senator isn't calling for AIG executives to kill themselves, but said those who accept tax dollars and spend them on travel and bonuses do so irresponsibly.

"Senator Grassley has said for some time now that generally speaking, executives who make a mess of their companies should apologize, as Japanese executives do," Mills said. "He says the Japanese might even go so far as to commit suicide but he doesn't want U.S. executives to do that."

The senator's remarks added to a chorus of public outrage over the disclosure that AIG intends to pay its executives $165 million in bonuses after taking billions in federal bailout money. President Barack Obama lambasted the insurance giant for "recklessness and greed" on Monday and pledged to try to block payment of the bonuses.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. :pointlaff:

URL: [url="http://www.msnbc.msn.com/id/29733519/"]http://www.msnbc.msn.com/id/29733519/[/url][/quote]

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[quote name='Bengal Migration' post='756547' date='Mar 17 2009, 11:08 AM']I hate to have to follow one of Homer's gems, but this article got a big LOL out of me..[/quote]

I am not impressed by that Senator's grandstanding bullshit.

There is no need for that kind of talk from a freakin' government official.

Oh yeah, he is a bailout-er
[url="http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00213"]http://www.senate.gov/legislative/LIS/roll...&vote=00213[/url]
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The Japanese have seppuku (sp?) and Roman culture had a practice of occasionally strongly suggested that transgressing members of its elite "take a bath" with a knife.

Still...

I guess in the US maybe we could ask evil-doers to make themselves crazy by listening to endless loops of Britney Spears doing AC/DC covers. A person's gotta break after a certain amount of that sort of treatment.

On the serious side, it's clear that pols are finally beginning to get fed up with some of the shenanigans. About time. But will it be enough to cause any serious changes? We'll see.

[url="http://www.smh.com.au/news/home/technology/banned-hyperlinks-could-cost-you-11000-a-day/2009/03/17/1237054787635.html"]Here's an example from Australia with regard to my earlier post about liberty.[/url] I mean, really. In a world where folks are supposed to be adults, is this necessary? Plus, note a key offending element, at least as reported--links to a site dedicated to transparency.

And in the "Oh, snap!" department, there's this: [url="http://www.huffingtonpost.com/steve-clemons/alexander-hamiltons-scorn_b_175575.html"]Alexander Hamilton's Scorn: Reflecting on AIG, Goldman, Hank Paulson and Bob Rubin.[/url] A piece with which I am in full agreement.
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[quote name='Homer_Rice' post='756557' date='Mar 17 2009, 10:37 AM']On the serious side, it's clear that pols are finally beginning to get fed up with some of the shenanigans. About time. But will it be enough to cause any serious changes? We'll see.[/quote]

They caused the mess in the first place.

It's too little, too late.

The $$$ is gone.

All we can do now is complain and hope something good trickles down our way.

The bad guys won.
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[quote name='sois' post='756558' date='Mar 17 2009, 12:40 PM']They caused the mess in the first place.

It's too little, too late.

The $$$ is gone.

All we can do now is complain and hope something good trickles down our way.

The bad guys won.[/quote]
Well, yes and no. Probably more no than yes, though. Depends upon who one see's as the devil--the mean advisor or the witless King who thinks the bad advice is good. Oh, and don't give up the ship. We can, and eventually will, do more than complain. Let's just make sure we're not a "mob" when that moment arrives.

In any case, [url="http://www.counterpunch.org/hudson03172009.html"]here's some more Hudson[/url] (with a gratutious YouTube link underneath):

[quote]The bottom line is that the American public is being fed a carefully crafted mythology (no doubt “market tested” on “response groups” to see which images fly best) to mislead the American public into misunderstanding the nature of today’s financial problem – to mislead it in such a way that today’s policies will make sense and gain voter support.[/quote]

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[quote name='Homer_Rice' post='756557' date='Mar 17 2009, 12:37 PM']The Japanese have seppuku (sp?) and Roman culture had a practice of occasionally strongly suggested that transgressing members of its elite "take a bath" with a knife.

Still...

I guess in the US maybe we could ask evil-doers to make themselves crazy by listening to endless loops of Britney Spears doing AC/DC covers. A person's gotta break after a certain amount of that sort of treatment.

On the serious side, it's clear that pols are finally beginning to get fed up with some of the shenanigans. About time. But will it be enough to cause any serious changes? We'll see.

[url="http://www.smh.com.au/news/home/technology/banned-hyperlinks-could-cost-you-11000-a-day/2009/03/17/1237054787635.html"]Here's an example from Australia with regard to my earlier post about liberty.[/url] I mean, really. In a world where folks are supposed to be adults, is this necessary? Plus, note a key offending element, at least as reported--links to a site dedicated to transparency.

[color="#FF0000"]And in the "Oh, snap!" department, there's this: [url="http://www.huffingtonpost.com/steve-clemons/alexander-hamiltons-scorn_b_175575.html"]Alexander Hamilton's Scorn: Reflecting on AIG, Goldman, Hank Paulson and Bob Rubin.[/url] A piece with which I am in full agreement.[/color][/quote]

This part of this post is exactly why people who choose a party side in all of this just dont get whats going on and how both parties are at fault.
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Here's my favorite part of the whole situation. Blatant, unadulterated hypocrisy.

[url="http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/"]http://www.foxbusiness.com/story/markets/i...cks-aig---time/[/url]

Chris Dodd adds an exemption to the bonuses in the original bailout bill, now he wants to tax them to get it back. As if he didn't know it was in there to begin with.
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[quote name='Squirrlnutz' post='756622' date='Mar 17 2009, 03:21 PM']:lol: :angry:

Seriously...they are essentially getting reprimanded for being responsible. Wow.[/quote]
"Ah, young cricket," said the old man, "there once were thousands and thousands of such institutions spread across the land."

They were called Savings and Loans.

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[quote name='CTBengalsFan' post='756600' date='Mar 17 2009, 12:30 PM']Hey, what can ya do, [url="http://www.urbandictionary.com/define.php?term=bad%20economy&defid=3802007"]bad economy[/url]. :ninja:[/quote]

I love urban dictionary :rofl:

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Good news! According to the nightly news here, the US Gov't is going to reduce the amount of the taxpayer bailout money spent on AIG by that $165M that was just spent on those executive bonuses!

The bad news? According to the report, the govt bailout total wasn't $170M.. it's actually $30B! The $170M was just an installment..

But hey, after taking out the amount that AIG pissed away on bonuses, us taxpayers are only pissing away $29,835,000,000.00 to bail out these incompetent fucks!

:boring:

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[url="http://www.counterpunch.org/hudson03182009.html"]The Real AIG Conspiracy: Bait and Switch[/url]


[quote]There are two questions that one always must ask when a political operation is being launched. First, qui bono -- who benefits? And second, why now? In my experience, timing almost always is the key to figuring out the dynamics at work.

Regarding qui bono, what does Sen. Schumer, Rep. Frank, Pres. Obama and other Wall Street sponsors gain from this public outcry? For starters, it depicts them as hard taskmasters of the banking and financial sector, not its lobbyists scurrying to execute one giveaway after another. So the AIG kerfuffle has muddied the water about where their political loyalties really lie. It enables them to strike a misleading pose – and hence to pose as “honest brokers” next time they dishonestly give away the next few trillion dollars to their major sponsors and campaign contributors.[/quote]
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[quote name='Homer_Rice' post='756814' date='Mar 18 2009, 12:36 PM']It enables them to strike a misleading pose – and hence to pose as “honest brokers” next time they dishonestly give away the next few trillion dollars to their major sponsors and campaign contributors.[/quote]

Obama and co. just got served. Good read there Homer.
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[quote name='sois' post='756816' date='Mar 18 2009, 01:44 PM']Obama and co. just got served. Good read there Homer.[/quote]

Yeah, they got played. They've got egg on their face and are doing whatever they can to reverse what occured. That's what happens when your economic plan is to throw money at the problem and trust the recipients to manage it correctly.

It's been happening for years. It's like when you give a bum $5 to buy some food and see him 10 minutes later with a bottle of Boone's Farm.
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[quote name='Hooky' post='757927' date='Mar 23 2009, 09:17 AM']Yeah, they got played. They've got egg on their face and are doing whatever they can to reverse what occured. [color="#FF0000"]That's what happens when your economic plan is to throw money at the problem and trust the recipients to manage it correctly.[/color]

It's been happening for years. It's like when you give a bum $5 to buy some food and see him 10 minutes later with a bottle of Boone's Farm.[/quote]


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[quote name='Hooky' post='757944' date='Mar 23 2009, 10:51 AM']All I'm getting is the red X.[/quote]


Wierd, is youtube blocked where your at?

Here is the link.

[url="http://www.youtube.com/watch?v=HvKcVwmK2dI&feature=player_embedded"]http://www.youtube.com/watch?v=HvKcVwmK2dI...player_embedded[/url]
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[quote name='Jamie_B' post='757960' date='Mar 23 2009, 11:59 AM']Wierd, is youtube blocked where your at?

Here is the link.

[url="http://www.youtube.com/watch?v=HvKcVwmK2dI&feature=player_embedded"]http://www.youtube.com/watch?v=HvKcVwmK2dI...player_embedded[/url][/quote]

I'm on a remote server. I think the Flash needs updated.
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