Posted on 03/17/2009 11:27:20 AM PDT by Rufus2007
Since his now-famous Chicago Tea Party outburst from the floor of the Chicago Mercantile Exchange in February, CNBC's Rick Santelli had seemingly disappeared from the spotlight.
However, on CNBC's March 17 "Squawk Box," Santelli, using similar theatrics, noted that the Obama administration as been very concerned about $165 million in bonuses paid out to American International Group (AIG) executives, even though they were recipients of bailout money from the Troubled Asset Relief Program (TARP).
"Well, I mean it seems as though the administration really hit this one head on. They're not happy about it, right?" Santelli said.
..more (w/video)..
(Excerpt) Read more at newsbusters.org ...
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.
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.
A million is a millionth of a trillion--Hussein's New Math for Serfs to the contrary notwithstanding.
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!
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???
What you said.
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.
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.
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.
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.
Santelli is spot on!
Give ‘em he!!, Phil !!!!
They deserve it and then some.
So you don't care about contractual obligations. Interesting.
If so, then I have no problem with that. The better idea is to deduct 30 billion from the 30 billion. :)
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?
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.
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.
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