Bonus Time for AIG
Wednesday, 18. March 2009, 03:11:48
This post is rated XXX for obscene use of taxpayers money.
Yeah, bonuses for the top management that drove the company so low, you and I had to bail them out with $170 billion of our hard earned money.
You remember... the same guys that threw the $400,000 party after we gave them the money?
Well, now it is time for them to collect their bonuses. Seventy-three people will receive checks for over $1,000,000. They have handed out $165,000,000 in bonuses so far and have about another 300 million slated to go to the guys that earned it last year.
AIG defends this by saying that the employees had already earned it before we (the taxpayers) bought 80 percent of the company to keep them a float.
So what would Liddy pay them with if we hadn't given them the money? Would Liddy and stock holders still want to reward these guys?
• The top recipient received more than $6.4 million;
• The top seven bonus recipients received more than $4 million each;
• The top ten bonus recipients received a combined $42 million;
• 22 individuals received bonuses of $2 million or more, and combined they
received more than $72 million;
• 73 individuals received bonuses of $1 million or more; and
• Eleven of the individuals who received "retention" bonuses of $1 million
or more are no longer working at AIG, including one who received $4.6
million;
Again, these payments were all made to individuals in the subsidiary whose performance
led to crushing losses and the near failure of AIG.
Please forgive this pornographic post and picture of a money grubbing, rich, d**khead.
Yeah, bonuses for the top management that drove the company so low, you and I had to bail them out with $170 billion of our hard earned money.You remember... the same guys that threw the $400,000 party after we gave them the money?
Well, now it is time for them to collect their bonuses. Seventy-three people will receive checks for over $1,000,000. They have handed out $165,000,000 in bonuses so far and have about another 300 million slated to go to the guys that earned it last year.
AIG defends this by saying that the employees had already earned it before we (the taxpayers) bought 80 percent of the company to keep them a float.
So what would Liddy pay them with if we hadn't given them the money? Would Liddy and stock holders still want to reward these guys?
• The top recipient received more than $6.4 million;
• The top seven bonus recipients received more than $4 million each;
• The top ten bonus recipients received a combined $42 million;
• 22 individuals received bonuses of $2 million or more, and combined they
received more than $72 million;
• 73 individuals received bonuses of $1 million or more; and
• Eleven of the individuals who received "retention" bonuses of $1 million
or more are no longer working at AIG, including one who received $4.6
million;
Again, these payments were all made to individuals in the subsidiary whose performance
led to crushing losses and the near failure of AIG.
Please forgive this pornographic post and picture of a money grubbing, rich, d**khead.
(7%)
WIDGETIZE
Lois # 18. March 2009, 12:10
This was my question as well. No one seems to have addressed it.
Rick # 18. March 2009, 17:34
Brian # 18. March 2009, 20:05
Brian # 18. March 2009, 20:07
Deke # 18. March 2009, 21:47
I just can't make up my mind whether these plonkers are so far removed from real life that they honestly don't see what the fuss is about (If we didn't want them to have their bonuses then why did we give them the money?), or they're just taking the p!$$...
The thought does occur to me however that any money given to a bank to buy part ownership can be withdrawn. Pull the cash out, tell them they can have it back when they sign over their bonuses.
Rick # 20. March 2009, 15:16
It get's worse, Deke. They defended the the bonuses by saying it was less than 1/10th of 1% of the money from the bail out.
How rich do have to be to think no one would notice $165 million?
Brian # 21. March 2009, 01:17
2 percent of the stimulus package was pork, no big deal
Typical politics, no changes in that.
Deke # 27. March 2009, 01:52
There's an open letter from an ex-AIG worker in one of today's papers. He says he wanted to give his bonus to charity but they wouldn't let him.
What I want to know is, how could they stop him?
Rick # 27. March 2009, 03:27
Then again, if their bonus was that big, how much were they paid to begin with?
Deke # 28. March 2009, 02:33
If you earn so much that your bonus could buy you a 3rd world nation then you're already paid too much, give your bonus and half of your wages to Deke, and he'll share the money around a bit.
Works for me...
Rick # 28. March 2009, 13:19