> On Thu, Mar 19, 2009 at 8:13 AM, Bob Calco <[email protected]> > wrote: > >> > >> These aren't discretionary bonuses, they are contractual and are > >> therefore not dependant on public opinion > >> > > > > Precisely. This phony scandal is an attack on the free market > contractual > > system. AIG and these execs are just the pawns de jure used to > accomplish > > what is in fact a very malicious agenda. Frankly, given Dodd's > complicity in > > exempting these bonus arrangements from TARP, and Congress' > intentional "no > > strings attached, we'll just trust the Treasury Secretary" policy, I > think > > they were set up intentionally for this charade. > ----------------------- > > BULL. > > How dare you drive this dribble and forget about foolish business > practices that were not fiscally prudent and say just because they had > a contract written when money was flying in it should be honored > today.
BULL on you. The issues isn't whether we believe AIG was prudent, if they were they wouldn't have "needed" a bail out. Frankly I think the healthier thing to have done, despite the near term pain, would have been to let them fail, go bankrupt and reorganize. But once you get idiot politician involved, whose campaign coffers have been well-greased by these company execs, look out, this is the kind of crap you have to put up with. And the way they manipulate the situation to destroy the very underpinning of private contract law should be far more outrageous to you than the bonuses themselves---it is an order of magnitude more dangerous to our way of life what the Franks and Schumers are doing with this bogus scandal than what the execs did. The scale of it doesn't even compare. Tell me: Do you know why AIG gave $96 billion to Goldman Sachs and a bunch of European banks? Of course you don't. This whole scandal is a distraction from a much bigger scandal, one that involves the politicians themselves, or they wouldn't be putting on this show over a relative drop in the bucket. Wasn't it Schumer himself who during the budget debate counseled that Americans simply don't care about tens and hundreds of millions in "porky projects" ... why then do they care about some retention bonuses that the politicians themselves authorized and are now acting like they had no idea was happening????? > > A bonus is just that, extra personal revenue for doing good work. > They failed miserably in the good work department. That failure > nullifies it IMHO. BULL again. No money was paid for performance, all of it was retention. Retention for a reason: these people are already fired and this is an incentive to keep them aboard long enough for the company to regroup. This whole thing is a tempest in a teapot that depends entirely on people's ignorance of the facts and basic impulse of envy and indignation that somebody, somewhere, is making more money than them. Which you have amply demonstrated affects even allegedly smart people. > > They were totally bogus charging fees to both sides of the coin in > transactions where they pushed a rating so a transaction could take > place. They lied about the quality of the paper, and stated if it was > not worthy they would make it good. Too bad they failed to put any > assets against those promises. > > I see no reason to provide those thieves with a federal funded bonus > package. I see no reason to provide any of these thieves any money from the Treasury whatsoever, especially money that doesn't actually exist and must be borrowed at exorbitant guaranteed rates from communists who hate us and want to see us destroyed. I think it's criminal for them to receive the money, because it gives sordid types like Frank and Schumer the power to act like dictators, and stupid all the way around for the American people to allow this theatre of the absurd to continue. - Bob _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
