tag:blogger.com,1999:blog-749955731953911627.post4811007921888169519..comments2023-11-02T04:53:05.386-05:00Comments on kc bob: AIG: Smarter than Congresskc bobhttp://www.blogger.com/profile/17440862813109808755noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-749955731953911627.post-67101906341814629502009-03-18T00:05:00.000-05:002009-03-18T00:05:00.000-05:00Bailing out failing companies with taxpayer money....Bailing out failing companies with taxpayer money. Yes, free market capitalism at its finest.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-359158115843660322009-03-16T19:54:00.000-05:002009-03-16T19:54:00.000-05:00Free Market capitalism at its finest. Isn't it a w...Free Market capitalism at its finest. Isn't it a wonderful country we live in that people can be so successful? Ahhh the American Dream!roadrunnerhttps://www.blogger.com/profile/06615552444270576332noreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-47510609098260840762009-03-16T12:29:00.000-05:002009-03-16T12:29:00.000-05:00I agree with Brian, while it is unpopular... a con...I agree with Brian, while it is unpopular... a contract is a contract, and government interference with that is setting a horrible precedent. Not only that it may be unconstitutional for them to do so.<BR/><BR/>The problem was bailing them out. Should have considered these things before doing that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-29199156638649803012009-03-16T11:03:00.000-05:002009-03-16T11:03:00.000-05:00I joined the Facebook group anonymous.. are you Ro...I joined the Facebook group anonymous.. are you Ron Holland?kc bobhttps://www.blogger.com/profile/17440862813109808755noreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-44057214269082047612009-03-16T10:57:00.000-05:002009-03-16T10:57:00.000-05:00Such knowledge is "above my pay grade," but some I...Such knowledge is "above my pay grade," but some I heard this morning seemed to think that the company could have broken these contracts without being held legally accountable. <BR/><BR/>Certainly poses an interesting ethical dilemma.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-52524096435736274962009-03-16T10:52:00.000-05:002009-03-16T10:52:00.000-05:00The bonus payout excesses at AIG are just the tip ...The bonus payout excesses at AIG are just the tip of the iceberg of what is happening with the other Wall Street bailouts including Bank of America. Working productive Americans are bailing out the same crooks that destroyed our economy along with 45% of the wealth in the world and now the American taxpayers and our children will be forced to live a far lower standard of living with reduced prosperity and opportunities due to this but only we pay the price.<BR/><BR/>Washington has bailed out the banks, Wall Street & their Washington special interests and much of the cost is added to the national debt to by paid by this and future generations while real estate and investments continue to fall. Find out what a growing repudiate the debt movement could mean for treasuries, the dollar, gold and the stock market and how this is a better alternative than Washington’s plans to monetize the debt in future years and tax and destroy our remaining wealth by depreciating the dollar.<BR/><BR/>The Campaign to Cancel the Washington National Debt By 12/21/2012 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=tsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-59084829244007338442009-03-16T09:31:00.000-05:002009-03-16T09:31:00.000-05:00Those folks must have one hechuva union.. maybe th...Those folks must have one hechuva union.. maybe they got into <A HREF="http://www.kansasbob.com/2007/04/americas-strongest-union.html" REL="nofollow">the weasel union</A> :)kc bobhttps://www.blogger.com/profile/17440862813109808755noreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-37846377444383131332009-03-16T09:22:00.000-05:002009-03-16T09:22:00.000-05:00Bob,I don't understand "incentives" that pay when ...Bob,<BR/><BR/>I don't understand "incentives" that pay when the company is in the toilet. The contracts negotiated were obviously stupid contracts. Any bonus I was ever paid was based on performance. <BR/><BR/>However, what has been negotiated has been negotiated. I don't think that, after the fact, AIG can pull the bonuses they contracted for. Yes. Maybe Congress <B>should</B> have looked at the compensation packages before they approved the money and made the bailout conditional on AIG being able to renegotiate the bonuses. In extraordinary circumstances, you do extraordinary things. AIG could have said, we'll pay you your bonuses. But, if you want your bonuses, X% of you will be let go, or we have to cut your future compensation going forward. <BR/><BR/>I don't like seeing my tax dollars going to some guy's "bonus" any more than anyone else does. But, a contract is a contract. And the employees worked their year with the expectation that they would be compensated a certain amount for it. You don't contract for a job, have the work done, then cut the pay for the job.<BR/><BR/>Peace,<BR/>BrianBrianhttps://www.blogger.com/profile/06035489123868573312noreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-16790903924164776992009-03-16T09:15:00.000-05:002009-03-16T09:15:00.000-05:00I hear you Brian.. I am so comforted that the 165 ...I hear you Brian.. I am so comforted that the 165 mil in bonuses is all legal. Really.. what is this contract garbage all about? How crazy is it to bonus employees/contractors of such a failed institution? What moron negotiated that contract?<BR/><BR/>Maybe our congress should have put restrictions on the billions we gave them? Maybe they have made the case for a govt takeover of AIG? Lets take em over and fire everyone?<BR/><BR/>Just venting this morning..kc bobhttps://www.blogger.com/profile/17440862813109808755noreply@blogger.comtag:blogger.com,1999:blog-749955731953911627.post-46841759193929452202009-03-16T06:50:00.000-05:002009-03-16T06:50:00.000-05:00I'm a little confused by the outrage being express...I'm a little confused by the outrage being expressed towards AIG's bonus payments. If they have contractual obligations, what choice do they have? When I was on an incentive based compensation plan, I contracted every year with the company signing up for my expected payment for the job I was going to do. The employees are entitled to the compensation they contracted for. Going forward, AIG can ratchet that down, IMO. But, if they have contractual obligations for the prior year, they have meet them, IMO.<BR/><BR/>Peace,<BR/>BrianBrianhttps://www.blogger.com/profile/06035489123868573312noreply@blogger.com