Posted on 03/18/2009 8:03:45 PM PDT by GOP_Lady
Reporting from Washington — The embattled chief executive of American International Group told a congressional subcommittee today that he had asked employees who received more than $100,000 in controversial retention bonuses to return at least half of them in response to public outrage over the payments.
"We've heard the American people loudly and clearly the past couple of days," said AIG Chief Executive Edward M. Liddy. Some employees have already volunteered to do so, or return all of the bonuses, he said.
Noting that he came out of retirement in September to run the company after the government provided the first portion of a bailout that has now reached $182 billion, Liddy said he never would have agreed to the retention bonus plan put in place early last year. He called the $165 million in bonuses "distasteful."
(Excerpt) Read more at latimes.com ...
He really looks like he would like to smack Benjamin and her motley crew of female pups.
I’ll be waiting by the mailbox for a return of more than half my taxes.
Will the gubermint give back the income taxes they withheld too?
CODE PINK DOESN’T PAY TAXES.
Mercy, is anyone really buying this crap! It’s time to get with it...ignore the asinine statements by those in charge, either gather for the revolt, or go away...
People are outraged at all the wrong people in this situation. IIRC, these contracts for bonuses were made before the bailout. At that point, AIG could run its business however it wanted. The government decided to bail them out. If they didn’t like the bonuses, they shouldn’t have bailed them out. Apparently this thinking is too complicated for the likes of Code pink and many others.
I am not a lawyer, but doesn’t this whole mess smack of ‘Ex Post Facto’ or ‘after the fact’? The bonus was made legal, as the bonus was determined prior to Feb. 11th. If congress retro-actively makes an (patently unconstitutional) law that places confiscatory taxes on this bonus, then doesn’t this set a prescident?
In other words, if they can do this; they can declare the house you closed on 30 years ago needs to have paid a 10,000% tax acessed today, in addition to any other taxes, fees or charges you paid. What was a legal and final contract, is now immediately available for redress at any future point in time.
Slave reparations? No problem. Sure, it was legal then .... but now we can review any past legal decision, and acess any fine we see fit today. Next, we can have reparataions made to Native American Indians.
Who needs laws .... when this ‘feels’ so right?
< yes, that last bit was sarcasm>
I was going to say pretty much the same thing — but you said it better.
The only explanation is that he's a truer public servant than 90 percent of the people in DC.
Liddy also gave up his Goldman Sachs board position. I’m not buying he is in this for $1, short term maybe.
The Code pinkos and their demonrat kin don't think -- they just want to hate. Fanning the flames of class envy and warfare is just one of the things that they do...
You are right on... Just when will the we get that the problem is government - not the stupid bonuses! All of our current problems are caused by government and they are suppose to solve the problem - give me a break! If we put half of the Representatives and half of the Senators in jail, we would solve half of the problem.
Nice quote, that's tag-line material
Yea, who needs laws...we do! Too many of our representives seems to think that laws and the Constitution don’t matter anymore...that is the problem!
Exactly
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.