Well, if Dodd is truly responsible for the “loophole” that allowed them, it is probably the best thing he ever did for America. These are not performance bonus’ people, these AIG employees were given an incentive to stay longer with the company and help them out of this mess, as they completed their tasks within their division they were rewarded as agreed for doing the job well. The results of these efforts helped AIG reduce their liabilities by over a TRILLION DOLLARS!!!!! That is a hell of a wise investment. The little dictator is getting everyone on board with putting down the evil greedy capitalists...don’t jump on board, it is a slippery plank indeed that leads to shark infested waters
Damn straight!
Yesterday he said he wrote it but some “bearded stranger” changed it in committee without his knowledge.
Nice spin but those AIG FP employees were generously compensated while they steered SS AIG straight into the iceberg. That they needed a payoff to stick around and try to mitigate the horrific damage their company caused is nothing short of blackmail. Some of them belong in government issued pinstripes for issuing trillions of dollars of junk paper and collapsing our financial system.
The US government has absolutely no right - no right - to reclaim a contractually promised compensation payment from a private business to a private citizen.
Period. End of story.
If they get away with confiscating these bonuses, we will witness another step towards totalitarianism in America.