Santelli: AIG Bonuses Only a 'Political' Outrage of Millions, Focus on Billions and Trillions

NewsBusters ^ | March 17, 2009 | Jeff Poor

[nyconse]

It’s working. I hate AIG. Of course I am inclined to despise companies that create fake insurance products (derivatives), leverage themselves 40-1 and keep insufficient cash reserves so they have no ability to pay claims, bankrupt their company, crash the world economy, beg for taxpayer money and then give away said money to foreign banks, bailed out US banks and of course in the form of bonuses. I’m funny that way.

[G.Mason]

You don't see what Congress had to do with it?

Perhaps you should know that they were complicit in authorizing those bonuses, in fact criminal gang member Sen. Dodd was personally responsible for the part of the bill that authorized the bonuses for those employees of AIG.

[PhilDragoo]

I called our congressman and senator and asked them to follow up by getting the president to return donations from Fannie Mae and Freddie Mac, Dodd to correct the Countrywide slush payment--in short, enough with the pot insisting the kettle is black.

A million is a millionth of a trillion--Hussein's New Math for Serfs to the contrary notwithstanding.

[Mad Dawgg]

"They didn’t get it yet...call your congress people and demand they get nothing...they are using the previous fed money for these bonuses."

Yet again you are wrong.

Why are you providing cover for Obama and the other Socialists Comrade?

Senators grill regulators on $180B AIG bailout

March 05, 2009 2:15 PM

...AIG's new $30 billion loan earlier this week brought the company's bailout to more than $170 billion since Sept. 16. The government also has adjusted the terms of AIG's loans to make the debt easier on the company's balance sheet...

They already got the money!

[junkman_106]

Saw a note on this very subject that indicated that AIG held (insurance?) coverage on 180,000 companies and over 103 million (American) jobs. If true, this is ONE-THIRD of the American population...possible???

[Recovering_Democrat]

The real outrage is that the thugs in the White House and in Congress have looted the treasury for trillions. TARP is an outrage. The "stimulus" that won't stimulate or even create jobs this year is an outrage, and would still be outrageous even if it would work. The socialism in what used to be and still should be a great nation is an outrage. A hundred million dollars of what should have been a private company's money? That should be in the middle of the business section in the article on why AIG is going under and perhaps near Part II of the article on how AIG's much smaller competitors are taking the dead company's market share with their better management and greater professionalism and responsiveness.

What you said.

[Recovering_Democrat]

I am outraged about the outrage.

If you had signed a contract with a company, and the company had the money, you would expect it to be paid.

If AIG hadn’t paid, the same distractory press (distracting from the real story) would be running stories about how AIG isn’t paying their employees even after getting money.

[nyconse]

Actually, I once had a contract with a gym that went bankrupt one week after I signed up...guess what I never got to go to the gym nor did I get my money back...AIG is a failed entitiy and is under taxpayer control...in terms of the 170 billion we paid out so I don’t care about their self serving contracts. Also, they paid retention bonuses to 11 employees who are no longer with the company...another poster suggested it may be hush money. I would not doubt it. This guys are capable of anything...they have toxic assets and a toxic way of thinking as well.

[nyconse]

They have not yet received the 30 billion. This is fact. In fact I heard tonight that the bonus money will be deducted from the 30 billion...I would not give them one red cent until every single top exec is fired...maybe not even then.

[nyconse]

AIG got fed money during Paulson’s tenure...I do think that Congress should have left the no bonus amendment in the stimulus and want to know who had it stripped. I am sure in time we will find out.

[Freedom56v2]

Santelli is spot on!

[MeekOneGOP]

Give ‘em he!!, Phil !!!!

They deserve it and then some.

[Recovering_Democrat]

...AIG is a failed entitiy and is under taxpayer control...in terms of the 170 billion we paid out so I don’t care about their self serving contracts.

So you don't care about contractual obligations. Interesting.

[Recovering_Democrat]

They have not yet received the 30 billion. This is fact. In fact I heard tonight that the bonus money will be deducted from the 30 billion...

If so, then I have no problem with that. The better idea is to deduct 30 billion from the 30 billion. :)

[nyconse]

We agree with that...don’t give them more money. Put them into bankruptcy (the derivative part) and with new management in place save the insurance part of AIG. I have heard that AIG didn’t want to give bonuses but were blackmailed by the derivative babies, they threatened to destroy what’s left of AIG with their insider knowledge...isn’t that against some law?

[nyconse]

Nope...if my contract can be broken and UAW contracts can be broken so can AIG contracts. Any lawyer will tell you contracts are broken everyday. The contracts are fraudulent because they are insolvent and did not have the authority to grant such largess to the very people that destroyed AIG.

[Kakaze]

This whole 165 million is a deflection...people can wrap their minds around a million but not Billions and Trillions, the number has no frame of reference.

Going after millions though is like going after a Powerball ticket, mentally its tangible to the average man.

I'm frankly sick of this gov't constantly defelecting the discussion while it manipulates and does any damn thing it wants.

They are going to push too hard and the people will snap back.