AIG 90% Taxpayers' owned - $92,500-$4M Bonuses!
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http://www.youtube.com/watch?v=T9loeiYhDw0
Type of Content: Video March 15, 2009 American International Group is paying out millions of dollars in executive bonuses to meet a Sunday deadline. But the troubled insurance giant has agreed to administration demands to restrain future payments. The Treasury Department determined that the government did not have the legal authority to block the current payments by the company that has already received more than $170 billion in U.S. support. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history. Read »
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This is really growing as a serious problem. The US economy is grappling and the big giants are crumping in it.
adjustable beds |online dating
Hi,
With the U.S. economy in shambles and millions of Americans struggling to make ends meet and keep their homes, Obama and Secretary of State Hillary Clinton need to explain to U.S. taxpayers how they justify these mega-payments to a scandal-plagued mercenary company. (At the very least, someone should ask Robert Gibbs about it).
Pawnshop Gold
White House May Want AIG Money Back
Administration Investigates Ways To Retrieve Some Of The Millions AIG Used For Bonuses
CBS News
WASHINGTON, March 16, 2009
"Of all the events and all of the things we've done in the last 18 months, the single one that makes me the angriest, that gives me the most angst, is the intervention with AIG," Bernanke told 60 Minutes correspondent Scott Pelley.
"Here was a company that made all kinds of unconscionable bets. Then, when those bets went wrong, we had a situation where the failure of that company would have brought down the financial system," Bernanke said.
" . . . . . It's absolutely unfair that taxpayer dollars are going to prop up a company that made these terrible bets, that was operating out of the sight of regulators, but which we have no choice but to stabilize, or else risk enormous impact, not just in the financial system, but on the whole U.S. economy," he told Pelley.
You won't get a single dime back. That's how it always works out in the end. But Bernanke can always start cracking skulls and breaking legs.
You'll love this detail even more:
Meanwhile, AIG disclosed Sunday that it used more than $90 billion in federal aid to pay out foreign and domestic banks, some of whom had received their own multibillion-dollar U.S. government bailouts.
Some of the biggest recipients of the AIG money were Goldman Sachs at $12.9 billion, and three European banks - France's Societe Generale at $11.9 billion, Germany's Deutsche Bank at $11.8 billion, and Britain's Barclays PLC at $8.5 billion. Merrill Lynch, which also is undergoing federal scrutiny of its bonus plans, received $6.8 billion as of Dec. 31.
Lawrence Summers, Director of the White House National Economic Council, said on CBS' Face The Nation on Sunday that the AIG bonuses were "outrageous… The whole situation at AIG is outrageous. What taxpayers are being forced to do is outrageous."
Double-dipping into the taxpayer gravy train is a no-no! Bad foreign banks . . . bad!
Dick wants a smaller . . .
. . . and gentler Big Government
By the way, did I ever mention that Scorsese movie "Casino"? It's all about gambling and fun times. What's a little bad debt here and there?
average "outrageous-my-ass" joe
WARNING! GRAPHIC IMAGES!
Help yourself to some batting practice, Mr. Bernanke
The taxpayer's money is all gone, but you can still blow off a little anger.
WARNING! GRAPHIC IMAGES!
Watch Bernanke spank his monkey!