AIG Still Living in Denial As It Pays Out Millions in Bonuses

This situation is insane. They truly have no clue how most Americans are seeing this.

This is sick. Why in the world are we helping these companies that keep sending millions to people who do not know how to run a company? They cry yet get paid millions on the “average joes” taxes. Furthermore, I fear this is just the tip of the iceberg. Look what Enterprise rent-a-car did to get bailout funds:

http://www.butasforme.com/2009/02/25/alert-enterprise-rent-a-car-may-have-fired-employees-as-fake-evidence-when-lobbing-for-bailout-money/

The US Government will have CLEARLY AND COMPLETELY FAILED United States taxpayers if this progresses without change. If a company in todays world finds itself in distress or of other financial crisis, there are only a few options. The main option is to SELL THE COMPANY or break up the divisions and sell them off to the competitors who are financially stable and who don't pay out Millions of dollars in Executive Bonuses. Isn't this the nature of business??? If AIG cannot pay bonuses to it's employees and they decide to walk, then they are getting exactly what any failed company deserves!!! THIS IS MY and YOUR MONEY!!!!!! DOES ANYONE ELSE NOT SEE THIS!!!!! Here's an idea, place some contractual agreements prior to releasing any further money that strictly controls its usage within the organization!!!! Or BETTER YET – LET THE COMPANIES FAIL!!!!! Bailout is just another way of saying “Lets throw some money into this so we can delay hitting rock bottom”.

Unless things change, US government will be run by financial institutions.

I'd tax very high bonuses at a much higher rate. The tax code already has tax rates at different levels for different sources.
A billion dollars? That's a thousand times a million. Most people could retire completely after a one million pay out.

This is an indefensible display of arrogance presumed privilege, and greed. How can you be so “super talented” and highly skilled yet fail so miserably at a game in which you make up the rules as you go along?
Let them all walk, they are easily replaceable. If AIG issues a nickel in “bonuses”, “retention awards” or under any other name let's take OUR money back and apply it somewhere where it will be utilized in a more responsible manner.

SINCE there are sooooo many unemployed people out there , i am sure you will find people who could do the job way better, also for alot less. this is still the tax payers money and we should have a say… i say take the money back and let the upper spoiled ceo's experiance the income that we live with…NOTHING….

Yes, those lawmakers have a right to be angry. How dare AIG behave as badly as Congress! After all, Congress restrained itself on earmarks with the most recent federal budget and only awarded itself a little over $7,000,000,000. True, the AIG bonuses, which are a good deal less costly, come out of taxpayer money, but where does the money come from for earmarks? And it is true the AIG bonuses are designed to keep AIG executives in place…but isn't that what the earmarks are for? To keep our elected representatives and senators in office as long as they can grasp every dollar they can. No, neither Congress nor the President, nor his Administration is well-placed to express outrage after the earmark feeding frenzy. The Administration, in fact, tried to pass the buck to Bush, by saying the whole budget was yesterday's business, overlooking the facts that it was this year's Congress which tacked on 9,000 earmarks, using the crisis as an opportunity to gorge, and this year's president who looked the other way.

Thanks a lot, jerks.

I am calling my insurance agent first thing in the morning and insisting no matter what the the cost to insure all my personal and business insurance is not directly held by AIG. It appears we all most sacrifice with the exemption of AIG. In that case I don't mind suffering a little more to pass on the fun to those who “don't get it”.

OUTRAGEOUS !!! INSANE!!! IRESPONISBLE!!!

I went 3 years without a raise and 5 years without a bonus even though my personal reviews were outstanding. If a business does not make a profit then the company has FAILED!!!! The idea of giving out bonuses to individuals in a company that is surviving on tax payers money is abominable. This is literally making me sick just to have read this.

AIG just doesn't get it. It is a new time. All you educated, white shirt tie boys created this problem with your greed. The board members let you do it because they were making MONEY not worried about the outcome. Now,it's time to pay the piper . You want the taxpayers to bail you with our money and you go on like nothing has happened. I feel sorry for the average people that work for you; because I'm sure they are not gaining anything from all the money you have already gotten.As far as I care I think you should not be given anymore money and go under. It's time to let the chips fall where they may. The bank (taxpayers are dry)… NO MORE!!!!!!!!!!!

It is all posturing by Frank, Dodd, Biden, etal.

They were part of the group that allowed standards to be taken away (Glass-Steagall & short selling & sub-prime FM & FM), and allowed the collusion of government employees becoming corporate officers influencing their former staff and bosses.

Congress' oversight of the Fed, Sec, etc. was MISERABLE. Could not even catch Madoff running a rather obvious scam controlling money in, money held and monies reported & disbursed. Congress has been bought off and tries to put the blame elsewhere everywhere they can.

If you or I did what Congress does, we would be cell mates with Madoff.

Time for serious openness in financial affairs in all the financial sector.

The revolution starts now! Wake up America!

I want my $170 billion back. Obama wake up. We are being ripped off. Fold this AIG. Do not wiat another minute. Today before bonuses are paid. What legal councel? A trained pig could get out of these bonues.
please stop this madness! Making me sick.

If company want addtiaaon baliout money, all bonuse receptcants must sign off on bonus. Also, Obomas big concesion for next year is a %30 reduction. What about nothing! Are we in lala land?

Tax TARP bonuses at %100, easy fix.

And we thought Madoff ran a giant ponzi scheme. AIG just bilked the US taxpayers out $170 million dollars and are rewarding the people who helped put them in a position so that they could.

The most simple principle for payment is one should be paid according to his performance. If one's performance has made his unit bankrupt or dying, he should pay back what he has earned during the period of employment, including all the bonuses, benefits, fringes, rewards, and so on and so forth. If not, he should take the training course for the management beginners.

Perfectly stated. I have always wondered about the pomposity of the “we pay for talent” argument.

There are millions of higher qualified people walking around whose only deficiency is lack of extreme greed. It's time to purge our leadership of type “A” personalities, and replace them with Obamalike people.

AIG is not the only location of festering greed, even when our country is submerged in dark chasm of unemployment and foreclosures. The reason AIG, a massive mega insurance company became insolvent is that it got too big? It is a stain on America integrity as the ponzi scheme of Mr. Maldoff has shown us. When Americans taxpayers are suffering from this terrible plight cause by so many individual issues.

The import of thousands of fraudulent cheap labor through the H-1B visa game, hardly ever supervised by the dept of labor, engineered by iniquitous immigration attorneys. The unceasing betrayal of our politicians as Speaker Nancy Pelosi (D-CA) who has sold out the American worker by killing E-Verify. Unfair trade agreements that have seen our industrial base disappear into third, cheap labor countries, so that millions of US companies have closed their gates.

All around the country we have seen the padlocked factories and silent machines, because it was cheaper to import car parts from Mexico. Then to import them back across the distressed drug infested borders. Then the taxpayer bails out banks, insurance and hundreds or other defaulted business to the tune of more than a trillion dollars. Then without any oversight the executives are still receiving massive bonuses even though the company has failed. As we sink lower into this financial quagmire, our bumbling politicians led by Sen. Harry Reid (D-NV), has dishonored his Oath to Nevada constituents and the US people. By tearing out the E-Verify amendment in both the Stimulus/omnibus spending bills. It will now allow at the least 300.000 illegal immigrant labor to take construction jobs from documented workers.

Thanks to the Democratic leadership even our workforce must–submit–to millions of illegal cheap labor. They have squirreled into the both blue collar to the higher professional echelon of positions. We have till September to right this disgusting wrong, by demanding every politician revise–EVERIFY– in perpetuity. Washington switchboard for your incensed calls to 202-224-3121

[...] post by Google Inc. and software by Elliott Back ??????? ?????? ?? ???? ????? ????? ?? [...]

My goodness. These greedy shortsighted executives who misused AIG's AAA rating to inflict maximum damage on the financial system, who have ruined the the lives of millions, whose arrogance refuses to admit wrong-doing, who are the least-worthy of any bail-out, let alone of this magnitude, now have the nerve of expecting multi-million dollar “bonuses” for a job well done???

Let's be extremely clear about the reason for the Government bailout: AIG is, in effect, holding the entire western financial system hostage, inasmuch as its demise would trigger a shockwave of further collapses. That's also why these thieving executives aren't backing away from their bonuses — they have the world's biggest cash cow (the federal Government) in their grip, and their milking…

[...] Congress, Daily life, Democrats, Government, Obama administration at 10:04 am by LeisureGuy Mary Kane in the Washington Independent: Bailed-out insurance giant AIG will no doubt be a heated topic of discussion today, with The Wall [...]

Enough is enough.

We are we bailing out the crooks who gambled with their shareholders equity and lost.?

Why are these betrayers of their fiduciary responsibilities still walking the streets as free men?

Why in heaven's name are we as taxpayers now supplying funds to pay these failures a bonus?

See if i ever pay another cent of my hard earned money in Taxes

I second your motion Linda. All in favor say “Aye”

Bonuses are for performance. As far as I know the AIG Financial Products Unit has ahhh… slightly underperformed in the last two financial years… Right??? Hence there would appear to be no justification to award bonuses. As far I I know isn't this unit solely in business to wind down the positions they have?

AIG needs to get back to its core insurance business as soon as possible. Paying the insurance performers would appear to be justified as this is the part of the company that will continue. Mr Libby's response to this issue appears very weak. As a last ditch effort to save whatever pennies of shareholder value are left I say bring back Greenberg as an advisor or CEO with a strong regulator minder looking on. My grandmother could have done a better job than any CEO has since he left and she has been dead since 1984.

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.

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.

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=675946904…

The other approach to AIG bonuses and contracts is the “do unto others approach” whereby contracts and bonuses are negated by AIG going Chapter 11 bankruptcy the way Wall St. raids corporations, steals pension funds, and simply terminates businesses that were in much better financial health than AIG. These arrogant members are the new American version of the old European nobility and they believe they are entitled to bonuses for all the billions they scammed from the tax payers. They don't care where the cash comes from as long as they get as much as they can all the time. After all they are the architects of turning America into a country of debt slaves whose purpose as slaves now is to bail them out so they can keep us in their servitude. Good article….call their bluff!!!

Hey……..but as Hank “the Moron” Greenberg said ” you cannot let AIG fail………its a National Treasure” ! i guess it also goes for the loser execs….get a bonus……Pass….Fail….Alive and Breathing?

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.

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.

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=675946904…

The other approach to AIG bonuses and contracts is the “do unto others approach” whereby contracts and bonuses are negated by AIG going Chapter 11 bankruptcy the way Wall St. raids corporations, steals pension funds, and simply terminates businesses that were in much better financial health than AIG. These arrogant members are the new American version of the old European nobility and they believe they are entitled to bonuses for all the billions they scammed from the tax payers. They don't care where the cash comes from as long as they get as much as they can all the time. After all they are the architects of turning America into a country of debt slaves whose purpose as slaves now is to bail them out so they can keep us in their servitude. Good article….call their bluff!!!

Hey……..but as Hank “the Moron” Greenberg said ” you cannot let AIG fail………its a National Treasure” ! i guess it also goes for the loser execs….get a bonus……Pass….Fail….Alive and Breathing?