AIG (Arrogant, Irresponsible and Greedy)

Most of us are already aware of the financial conflict and therefore concerned about the tax dollars and the way they are being spent in the current market  . To be more precise  , we can feel the impact of the ongoing recession in our daily lives .  A recession that has started with reckless spending and miscalculations of giant companies like AIG to begin with .

Obama ‘s administration tried to step in and solve the problem in long term and prevent any future recessions . That was where the $ 787 billion bailout came into play .
Many business experts including Ali Velshi  expressed their concerns regarding this bailout by stating that $ 787 billion may not actually be enough to solve all the problems and it could merely increase the budget deficit and debt of our nation .

Despite all the worries concerning the bailout money and the fact that taxpayers should liquidate this money , people were somewhat relieved until they were informed  of AIG ‘s greedy attribute .

In March 2009 AIG revealed that they were paying out $165 million in executive bonuses. Total bonuses for the financial unit could reach $450 million and bonuses for the entire company could reach $1.2 billion .  

With foreclosure and unemployment rate so high this revelation was nothing less than a catastrophe simply because taxpayers no longer trust the government .

Imagine that you should pay your hard-earned money as tax so the executives in AIG can receive millions of dollars in bonuses and spend it on fancy cars and boats !!!

In this regard Senator Chuck Grassley said "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."

To make things even more intolerable  I should mention that these bonus awarded executives are actually the ones whose actions contributed  to the financial crisis and recession !!! .

Senator Richard Shelby said "These people brought this on themselves. Now you're rewarding failure. A lot of these people should be fired, not awarded bonuses. This is horrible. It's outrageous."

Fortunately the AIG’s case is currently being investigated in 20 states and Liddy and other executives are to appear in court of law and bring with them "original or copies of documents regarding the AIG Financial Products Corp. retention bonus plan and any related contracts or agreements." If things go right AIG’s executives will be forced to pay all the money back  .  The court appearing is scheduled on Thursday .

Most of us are already aware of the financial conflict and therefore concerned about the tax dollars and the way they are being spent in the current market  . To be more precise  , we can feel the impact of the ongoing recession in our daily lives .  A recession that has started with reckless spending and miscalculations of giant companies like AIG to begin with .

Obama ‘s administration tried to step in and solve the problem in long term and prevent any future recessions . That was where the $ 787 billion bailout came into play .
Many business experts including Ali Velshi  expressed their concerns regarding this bailout by stating that $ 787 billion may not actually be enough to solve all the problems and it could merely increase the budget deficit and debt of our nation .

Despite all the worries concerning the bailout money and the fact that taxpayers should liquidate this money , people were somewhat relieved until they were informed  of AIG ‘s greedy attribute .

In March 2009 AIG revealed that they were paying out $165 million in executive bonuses. Total bonuses for the financial unit could reach $450 million and bonuses for the entire company could reach $1.2 billion .  

With foreclosure and unemployment rate so high this revelation was nothing less than a catastrophe simply because taxpayers no longer trust the government .

Imagine that you should pay your hard-earned money as tax so the executives in AIG can receive millions of dollars in bonuses and spend it on fancy cars and boats !!!

In this regard Senator Chuck Grassley said "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."

To make things even more intolerable  I should mention that these bonus awarded executives are actually the ones whose actions contributed  to the financial crisis and recession !!! .

Senator Richard Shelby said "These people brought this on themselves. Now you're rewarding failure. A lot of these people should be fired, not awarded bonuses. This is horrible. It's outrageous."

Fortunately the AIG’s case is currently being investigated in 20 states and Liddy and other executives are to appear in court of law and bring with them "original or copies of documents regarding the AIG Financial Products Corp. retention bonus plan and any related contracts or agreements." If things go right AIG’s executives will be forced to pay all the money back  .  The court appearing is scheduled on Thursday .

Shocking .. Thats basicly stealing :(

It's really a shame to see so many people fall to greedy and selfish ways. Madoff is a prime example of this, and he did confess, plead guilty, and now is taking responsibility for his despicable actions.

I guess im forunate to live in The U.K where this kind of thing is rare (but has happened before)

While I don't agree with the bonuses, we have to remind ourselves that the goal is NOT for AIG to fail.  The ultimate goal is for AIG to repay the money that the American people gave them.  And for that to work--they have to be able to pay people to do that.  By making anyone in the company a target, and apparently getting no pay--who do you think will want to work for this company?  Who's going to make this company succeed?  I have no idea how this story can possibly end well.

That is evil.

Who took that little girl out there to protest? What the heck were they thinking? That's a total cheap shot at trying to get sympathy. Doesn't that other chick also mean Wall Street "made off" with her tax money? Hmm... alright, alright. I'll actually read the thread. Just commenting on the pictures alone would be janky and booser-ish. I love that quote about that Japanese example. Anyway, hopefully they do end up needing to pay the money back. I can't say I'm too familiar with this whole AIG scandal, but a customer at worker talked my co-worker's ear off about the issue a few days ago. I was totally glad he wasn't talking to me.

"Who took that little girl out there to protest? What the heck were they thinking? That's a total cheap shot at trying to get sympathy.

yeah, lets steal from the poor and give to the rich, thatll solve our financial problem.

I saw this coming the moment i heard about the bailout.

"yeah, lets steal from the poor and give to the rich, thatll solve our financial problem. I saw this coming the moment i heard about the bailout. "

I love that title. I made a satire writing for my creative writing class. I destroyed AIG in it, too. I may post it up on here later this week.

^ Thanks , can not wait to check out your article

I think they should return the bonus money only after the president and all those in government return the money AIG employess donated to them during their campaigns. 

Fannie Mae and Freddie Mac 's collapse was indeed one of the main reasons behind the recession and as Obama said earlier in his statement to congress , the current recession has formed in a long time and not a single day  (referring to Clinton and Bush 's policies )  .
"People bought homes they knew they could not afford " said Obama . Government certainly owe AIG considerable amount of money and the fact that AIG received such amount of help from the bailout shows the importance of this group but none of the these is an excuse for awarding executives with taxpayer money .

"Gunner said:

"yeah, lets steal from the poor and give to the rich, thatll solve our financial problem. I saw this coming the moment i heard about the bailout. "

No , bailout plan has saved US from depression "

I think it's funny that they "madoff" with that woman's tax $$$.

@TheGreatGuero & jakob187

"I think it's funny that they "madoff" with that woman's tax $$$.

If you are going to protest, at least know that you have proper spelling and grammar skills.  =  /

Despite all of it...AIG can suck off.

*EDIT*  One more thing to say:

Eventually, the survival rate of everybody drops to zero.  I say...let it all burn.  Let everything bankrupt.  Let hellfire and brimstone rain down from the sky.  Go back to being savages, fighting over that scrap of meat and the hides that made our clothes and shelter.  Bring it back to the primitive.  That's when we'll see who really deserves to be on this planet.  We've defied instinct and the purpose of life for so long that we've betrayed our initial purpose.  What purpose is that?

To kill, breed, and survive.

"

I have auto insurance with AIG... Dumb asses. I watched President Obama on 60 minutes tonight and he said they should get out of New York more often and I thought, "They do, to the Hamptons or their real home in Connecticut where their part time family lives, but yeah... he's right, they probably just hang at their Manhattan apartment."

"I have auto insurance with AIG... Dumb asses. I watched President Obama on 60 minutes tonight and he said they should get out of New York more often and I thought, "They do, to the Hamptons or their real home in Connecticut where their part time family lives, but yeah... he's right, they probably just hang at their Manhattan apartment." "

"daniel_beck_90 said:

"Gunner said:

"yeah, lets steal from the poor and give to the rich, thatll solve our financial problem. I saw this coming the moment i heard about the bailout. "

No , bailout plan has saved US from depression "

so its ok to take taxpayers money to help a failing buisness? thats more like communism than capitalism. Find another way to fix the economy."

Eventually, the survival rate of everybody drops to zero.  I say...let it all burn.  Let everything bankrupt.  Let hellfire and brimstone rain down from the sky.  Go back to being savages, fighting over that scrap of meat and the hides that made our clothes and shelter.  Bring it back to the primitive.  That's when we'll see who really deserves to be on this planet.  We've defied instinct and the purpose of life for so long that we've betrayed our initial purpose.  What purpose is that?

To kill, breed, and survive.

"

"  You know what would happen to US if it would fallen victim to depression ?!!!  recovering from depression takes decades .

^ I was not referring to 30s’ principal . The current recession that we are dealing with is speculated to take at least 6 years to be fully recovered . I think depression ‘s case is self-explanatory   .

Am I the only one that thinks people are making too much of a big deal about all this?  I mean out of 787 Billion dollars, we are concerned with 100ish million?  We should be concerned with how AIG is spending the rest of the money they recieved and whether or not it's actually helping the company get out of trouble.  Bonuses will be paid, as they always have.

The fact is that none of us know exactly how AIG needs or wants the bailout money.  What if this is what they had planned/promised months ago?  What if the bonuses are not being paid out of the bailout money?  It's just a bunch of people upset because others are making more money than they are.  Get over it and work hard.  Maybe one day you too will get a nice bonus like this.


(BTW I'm unemployed)

You may want to take a look at http://thezeitgeistmovement.com/. It'll show you that the problems of the economy aren't just on the shoulders of CEOs or their greed. It's deeper than that. Besides, the population promoted this greedy attitude by being greedy themselves. All I require is food, a bed, a desk, and up to date information technology. Anything else I consider luxury and I wouldn't care less if it was stolen tomorrow. 

"Am I the only one that thinks people are making too much of a big deal about all this?  I mean out of 787 Billion dollars, we are concerned with 100ish million? 

  What if this is what they had planned/promised months ago? 

 What if the bonuses are not being paid out of the bailout money?

 It's just a bunch of people upset because others are making more money than they are. 

"You may want to take a look at http://thezeitgeistmovement.com/. It'll show you that the problems of the economy aren't just on the shoulders of CEOs or their greed. It's deeper than that. Besides, the population promoted this greedy attitude by being greedy themselves. All I require is food, a bed, a desk, and up to date information technology. Anything else I consider luxury and I wouldn't care less if it was stolen tomorrow. "

"While I don't agree with the bonuses, we have to remind ourselves that the goal is NOT for AIG to fail.  The ultimate goal is for AIG to repay the money that the American people gave them.  And for that to work--they have to be able to pay people to do that.  By making anyone in the company a target, and apparently getting no pay--who do you think will want to work for this company?  Who's going to make this company succeed?  I have no idea how this story can possibly end well."

"You may want to take a look at http://thezeitgeistmovement.com/. It'll show you that the problems of the economy aren't just on the shoulders of CEOs or their greed. It's deeper than that. Besides, the population promoted this greedy attitude by being greedy themselves. All I require is food, a bed, a desk, and up to date information technology. Anything else I consider luxury and I wouldn't care less if it was stolen tomorrow. "

Personally, i think all of America needs a wake up call, our biggest enemy aren't the terrorist, but ourselves. Let's be honest, sure we've been paving the way for a while, but right now, it's about time we started playing catchup and reinvigorated the American spirit which existed before this time. While i dabble in politics a lot, and am very opinionated, i personally think a lot of us would benefit from learning how to live within our means. Also, does anyone remember back in U.S. history class about the New York political machine, unions, etc...all that stuff which caused the eventual crumble into the great depression? Just saying, history repeats itself....

I think we all have to face the fact that AIG as a company is done for.  It is already being split up. 

They are renaming the new branch AIU...

 Also, does anyone remember back in U.S. history class about the New York political machine, unions, etc...all that stuff which caused the eventual crumble into the great depression? Just saying, history repeats itself...."

Be glad our economy is nowhere near as fucked as Iceland's

"Be glad our economy is nowhere near as fucked as Iceland's"

"

"

"daniel_beck_90 said:

"

"

This picture particularly caught my eye. I don't remember ever seeing anyone looking as depressed as the women in this picture does. Did you take this picture?"

Well, today 9 out of 10 of the largest bonus takers gave the money back to the government, so at least they aren't total scumbags, or just dont want to look like they are (seriously, a few thousand dollars is a drop in a bucket compared to the hit their reputation would take if they kept the money)

""

"Personally, i think all of America needs a wake up call, our biggest enemy aren't the terrorist, but ourselves. Let's be honest, sure we've been paving the way for a while, but right now, it's about time we started playing catchup and reinvigorated the American spirit which existed before this time. While i dabble in politics a lot, and am very opinionated, i personally think a lot of us would benefit from learning how to live within our means. Also, does anyone remember back in U.S. history class about the New York political machine, unions, etc...all that stuff which caused the eventual crumble into the great depression? Just saying, history repeats itself...."