Senator suggests AIG execs should kill themselves

Quote from 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.
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Obama, frank, dodd, and stewart and whoever else"Dammit, i'm mad as hell and I'm not going to take it any more!"
I'm not mad at AIG employees, i'm surpised they stuck around ,they also probably have really nice retirement packages and resignation packages!They can't leave, and the frickin government won't let them fail. Obama wants to appear like he even frickin knows what AIG does, he knows they give out large campaign donations!
 
Quote from wmb:

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!
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Look, if you're so happy about this, why don't you go down to AIG HQs and donate your own money to their payroll.

FORCE MAJEURE CLAUSE! Google it. There is no contractual obligation to uphold business agreements & contracts, let alone scumbag employment contracts when the sh*t hits the fan. I mean really, how exactly are going to enforce the contracts anyway..

AIG is bankrupt as we speak. Need a confirmation? Check their stock price & balance sheet. Or maybe consider the fact that they are crying for billion dollar injections every other month just to stay afloat.

Do you know why the taxpayers are upset? It's their money, that's why. But since you & others like you think it's ok, how about getting those who think otherwise off the hook by paying our taxes.
 
Quote from gnome:

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"..
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I am no lawyer but I don't think there is cut and dry criteria for a sexual assualt case, whereas a company who is bankrupt has filed for bankruptcy...the criteria is cut and dry.

And your second point I agree with completely. AIG SHOULDN'T pay out these bonuses, but it's not a matter of they CAN pay the bonuses, it's that they HAVE to pay. Again, I'm no lawyer, but as I understand it the employees could take AIG to court and win.
 
Quote from Anaconda:

Look, if you're so happy about this, why don't you go down to AIG HQs and donate your own money to their payroll.

FORCE MAJEURE CLAUSE! Google it. There is no contractual obligation to uphold business agreements & contracts, let alone scumbag employment contracts when the sh*t hits the fan. I mean really, how exactly are going to enforce the contracts anyway..

AIG is bankrupt as we speak. Need a confirmation? Check their stock price & balance sheet. Or maybe consider the fact that they are crying for billion dollar injections every other month just to stay afloat.

Do you know why the taxpayers are upset? It's their money, that's why. But since you & others like you think it's ok, how about getting those who think otherwise off the hook by paying our taxes.
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We don't think its ok,, read the posts! i just don't buy the argument that 1. their bankrupt so they cant give out bonuses. Technically they are not bankrupt! 2. either we are completly stupid to beleive that our government doesnt know about this and the bonuses or our governemnt is really stupid. they are not stupid they are hypocrits and rthey think u and i are stupid! who the frick elected these people! if bush did this he would gave been impeached! in less than 100 days ,obama and these opportunistic scum bags should be impeached! They ok all of this and have played completly stuupid thinking it works!it works for you. AIG and their employees wanted to go bankruypt just like gm but we dont want them too...blah bblah
 
Quote from 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.
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It is a grey area for sure.
 
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?
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Actually I know quite a bit about compensation contracts as I am an accountant in Canada. The law may be slightly different in USA than Canada.

If what you are saying is true, the government would have already stepped in and disallowed the bonuses to be paid out...Obama wouldn't be on TV saying Geithner will look into all legal means to stop it, it would have already been stopped.
 
Quote from Anaconda:

Look, if you're so happy about this, why don't you go down to AIG HQs and donate your own money to their payroll.

FORCE MAJEURE CLAUSE! Google it. There is no contractual obligation to uphold business agreements & contracts, let alone scumbag employment contracts when the sh*t hits the fan. I mean really, how exactly are going to enforce the contracts anyway..

AIG is bankrupt as we speak. Need a confirmation? Check their stock price & balance sheet. Or maybe consider the fact that they are crying for billion dollar injections every other month just to stay afloat.

Do you know why the taxpayers are upset? It's their money, that's why. But since you & others like you think it's ok, how about getting those who think otherwise off the hook by paying our taxes.
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If your force majeure clause argument was valid I'm sure the government is aware of it. They would have stated this is the case and would reassure the public that AIG can't pay out the bonuses. This did not happen...

I don't think it's OK. I even stated in a previous post that I am against the morality or lack thereof of the whole situation. So stop getting offended just because I am trying to argue the legality of what AIG is doing.
 
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.
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While I have absolutely no sympathy for anyone at AIG, I tend to agree with you. Congress has way too much shit in their game to be talking trash. I'd like to see some of these exec's from wall street and the auto industry tell congress...I'll resign my position, right after you resign yours. Otherwise, blow me. Just be careful saying that to Barney Frank as he'd be likely to hit his knees.:eek: :eek: :eek:
 
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