Here what I think happened

United States
March 20, 2009 11:13am CST
When it comes to bonus checks to CEOs of bail out companies including AIG. Well congress knew they did not want them to get bonuses....but lobbyist for the companies gettting bail outs told them the truth. If the companies did not honor their contracts with these CEOs they could and would be sued for breach of contract. They HAD to pay out those bonuses.So congress let the company pay it....so then they could turn around and tax it and get it back. Therefore letting the companies technically honor the contracts by giving them the money but the federal government stepping in and taking it away. Personally it was underhanded and shady to say the least. On both sides. I am not happy with any of their behavior from the CEOs all the way to congress. What do you think?
6 responses
@max1950 (2306)
• United States
20 Mar 09
We've been electing these theives for years and now it's finally comming out just how crooked our elected officials are especially congress the old bunch of should be retired farts. everybody is out for the almighty buck and screw the people. obama cant find 1 person that dosen't have something in their closets, the democrats are a joke, really , everyone thought things were going to change but things got worse fast, and you can thaNK that on PELOSI AND REID. OBAMA DOSEN'T EVEN KNOW WHATS GOING ON HALF THE TIME, BOY DID WE GET SCREWED, ROYALLY.......
• United States
20 Mar 09
I think we are going to look back on Bush as the good old days before long. WHich is sad because he was not a good president. But Obama and our congress are even worse. We have jumped out of the frying pan and right into the fire.
@max1950 (2306)
• United States
20 Mar 09
ya know we cant even blame it on bush,sorry bout the caps need glasses, this has been in the making for awhile, im 59 and i cant ever remember when a democrate got into office that it didnt cost us something. now im not picking on the dems, really im not it just the way it always is as soon as pilosi and the " god save us " dems got int office it started costing us. polisi get's elected and bam gas goes to 450 a gal. ladies and gentleman here's our savior in the making and she's only 3rd to the seat of president of the good ole u.s.a. please someone hit me with a bat. 2wice.
@Bevsue (251)
• United States
20 Mar 09
Not only did AIG pay bonuses to their executives, they gave massive contributions to the politicians--which is why nothing was done beforehand. At the top of the list of politicians who received money from AIG are Chriss Dodd and Barack Obamam--what a startling coincidence---NOT!!!!!!
• United States
25 Mar 09
Yep you have a very good point. AIG bought and paid for our elected officials and that is why the bill was written to include the paying out of bonuses.
@Taskr36 (13963)
• United States
20 Mar 09
I disagree. The reason I disagree is that they could have just as easily done the same with Auto executives but they didn't. Did you notice that? They made the auto execs sell their private planes and take $1.00/year salaries. They aren't getting these bonuses with the bailout money. See congress could have done the exact same thing to the CEOs of companies like AIG. It's not about a breach of contract. Contracts can be renegotiated the same way they were with the auto companies. Contracts are renegotiated all the time in struggling businesses. It happens at the highest and lowest levels. This was all a farce used to reward AIG for their campaign contributions to democrats. Obama and Dodd got over $100,000 EACH from AIG last year. Funny how that's been so under-reported. This taxing crap is just a lame attempt to appease an angry public, many of whom are dumb enough to believe that Obama, Dodd, and Geithner didn't even know about these bonuses or the fact that Dodd himself guaranteed the bonuses.
@Taskr36 (13963)
• United States
21 Mar 09
Actually the numbers I saw showed McCain receiving $59,000. Clinton was fourth with $39,000 fifth to eighth were other democrat senators with Romney and Giuliani coming in ninth and tenth with much smaller amounts. Still, the fact that Dodd received so much more than anyone else, including presidential candidates, tells me that he was bought. The thing is those contracts could have been renegotiated. It would have been very easy to make that a stipulation for receiving taxpayer dollars. Keep in mind this was done to auto execs. I can assure you the execs at GM were scheduled to receive big bonuses as well before their contracts were renegotiated. Dodd's had some 30 years or so of piddling our tax dollars in the senate. It's about time that moron gets out. I agree with you that I'd love to see someone sneak something about term limits in there.
@xfahctor (14113)
• Lancaster, New Hampshire
20 Mar 09
Im going to respond using a response I gave in another thread, " It goes more like this: The real worry is the fact that what congress just did was so blatently ilegal and they did it using the anger that they managed to generate by pointing fingers at a "monster" they created to shift blame to, and then having the peasants charge the monster's castle with torches and pitch forks, getting their agenda passed and covering their tracks in the process. Then to show the peasants they are the "peoples governemnt" they punish that evil monster publicly and the public is so greatfull, they don't care that a very dangerous and precident setting thing has taken place with that punishment, that has opened the peasants up to the same punishment someday should they become the next "monster" So you see, what just happened was a vaery rapidly executed combination illusion that covered their assses and created a dangerously unconstitutional precident.
@jonesy123 (3948)
• United States
20 Mar 09
Well, that would require thinking, lol. I doubt those people can think that well. No, this is something that was deliberately cut from the stimulus bill (yes, due to lobbyists reminding everybody who donated to their campaign war chests). Then everybody was hoping that it wouldn't come out but it did. Now somebody takes the fall, Obama (well in the know but now oh so outraged) will be the shining hero. The latter is pure luck. Contracts are re-negotiable. But, yes, maybe some politician was actually smart enough to cook up this scheme. After all, the government can freely tax away, but with sufficient reductions they still keep at least most of the bonus money. Don't kidd yourself into believing that 90% really equals 90%. They all have investment losses, some maybe even business losses. They might very well keep the whole bonus. At the end those people are still better off at the taxpayer's expense. This is all smoke and mirrors yet again.
• China
20 Mar 09
life is just so, in my opinion, i will do nothing. perhaps our sense of worth is different. In china, the thing like that is so much.