Senator suggests AIG execs should kill themselves

[gnome]

Quote from Kassz007:

Yes I agree with you. Except AIG TECHNICALLY is not bankrupt...and AIG TECHNICALLY now has the money to pay the bonuses thanks to the USA government. So in a court of law I think the employees would have a case to receive bonuses.

Not that I agree with the morality of it all, but technically speaking I believe this to be the case.

Isn't that rather like a sexual assault case... where the perp pleads, "she never said NO, so technically it wasn't rape"... when the victim was drugged and unconscious?

And as my Grandpa used to say, "just because you CAN do something doesn't mean you SHOULD"..

 

[midniteeuropa]

yea but these benchmarks were based on worthless CDO's....CDO's these people at AIG knew were junk......CDO's written just so they can get a fat commission check.

sorry but all bonus contracts are OFF, and any JURY at any court would believe so as well.

Quote from Kassz007:

Exactly. I understand the public outrage at these employees getting bonuses, but if their compensation contract states they get a certain bonus if certain benchmarks are met, then AIG can't just disregard those contracts.

 

[Banjo]

Congress threatens to tax AIG executives' bonuses
"If you don't return it on your own we will do it for you," said Chuck Schumer of New York.

The bonuses were paid legally, part of a program that had been disclosed in advance in filings that American International Group Inc. made with the government.

Senate Democrats threatened to tax the bonuses at up to 91 percent through narrowly written legislation, said Schumer, if AIG does not return the money voluntarily

 

[Anaconda]

Quote from Kassz007:

Exactly. I understand the public outrage at these employees getting bonuses, but if their compensation contract states they get a certain bonus if certain benchmarks are met, then AIG can't just disregard those contracts.

I know this is a fun discussion, but do you have any real knowledge about employment contracts or business contracts in general?

AIG is bankrupt. When a company goes BK, force majeure clause kicks in.

Without the government funds, AIG had no money to stay in operation, let alone pay salaries & bonuses. Once the government steps in, it is no longer your average capitalist corporation with the idea of bonuses. It is now a bureaucratic entity. Do you know of any government agency that pays bonuses?

 

[nutmeg]

I'll tell you. If I was Mister AIG and members of congress are publicy announcing for my employees to kill themselves and threatning 100% tax on bonus's paid under the contract laws of this USof A, I'd shut the place down pronto. Lock the doors and flip the keys over Obama and tell him to go f himself.

 

[wmb]

Quote from Anaconda:

I know this is a fun discussion, but do you have any real knowledge about employment contracts or business contracts in general?

AIG is bankrupt. When a company goes BK, force majeure clause kicks in.

Without the government funds, AIG had no money to stay in operation, let alone pay salaries & bonuses. Once the government steps in, it is no longer your average capitalist corporation with the idea of bonuses. It is now a bureaucratic entity. Do you know of any government agency that pays bonuses?

Since when is it a given that bankrupt companies don't give out bonuses? More importantly, i don't think AIG went bankrupt consequently the money the government gave them that had no stipulations of how to disperse the funds can be distributed to those at AIG expecting to be paid!

I have a question...Why does the House of Representatives and the U.S. senate and almost every state government continue to give themselves raises when they are in effect bankrupt? Why is President
Obama giving raises to government employees when we are for all intense and purposes bankrupt. I want to takeover Barney frank office and tell him to go get in line with the fannie and freddie , lehman, and bear stearn employees!

 

[wmb]

Quote from nutmeg:

I'll tell you. If I was Mister AIG and members of congress are publicy announcing for my employees to kill themselves and threatning 100% tax on bonus's paid under the contract laws of this USof A, I'd shut the place down pronto. Lock the doors and flip the keys over Obama and tell him to go f himself.

Ditto; but his campign fund has so much of aig money already doesnt that mean he has a set of keys already?

 

[snowhite]

I want all these execs shot dead now please.

 

[midniteeuropa]

at least we know obama is just as outraged as we are....something will be done for sure.

remember folks, this ain't that idiot bush in office.

 

[eagle]

That certainly will be another outrage for such record tax rate.

Quote from Banjo:

to tax the bonuses at up to 91 percent