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Rachel,Maddow,AIG,bank,of,America,Merrill,Lynch,wall,street,bailout Rich Wall Street executives are robbing us blind

Rich Wall Street executives are robbing us blind

posted by Duckman33 8 months 2 weeks ago • 627 views
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After receiving bailout funds, Wall Street corporations are still giving multimillion dollar bonuses to their executives.

There's something perversly wrong if AIG's chief execs are more worried that their head crooks might sue them, than the possibility that everyone involved might end up in a Federal pound-you-in-the-ass prison for the rest of their miserable lives:

The US treasury secretary, Timothy Geithner, tried to block the payments last week. In a phone call, he is said to have "berated" AIG's chief executive Ed Liddy over the scale and timing of the handouts. While accepting the awards were unpalatable, Liddy responded that they were contractual requirements and AIG could not find a legal way to escape them.

Let me get ths straight: The insurance industry, you know the one that effortlessly conjures up scores of convenient reasons to delay or deny little jaundicing Johnny's liver transplant or pay up on Joe Punchclock's storm flattened house after collecting premiums for years, is suddenly helpless when it comes to finding the legal justification to withold hundreds of millions in "bonuses" to the guys who sunk their company along with the global economy? Yeah. And if you believe that, I've got a tranche of guaranteed-not-to-fail Credit Default Swaps to sell you.

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it's not robbery when you voluntarily give someone money.


written by imstellar28  | 8 months 2 weeks ago | CH
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Why is everyone so surprised that government hand outs are wasted on failed companies? Nevermind that the bonuses are in no way a shock and have been known about for over a year now down to the amount and date they would be paid. These retention bonuses were going to people that were being laid off to keep them working until the date they were fired. Geithner and all the other politians bitching about it like we've been tricked by some evil corporate plot knew about it. Obama signed the bill letting them keep all retention bonuses that were contracted prior to Februrary 2009. If you didn't want them to do it, don't give them any damn money and sign laws saying it's okay. At this point, to write new legislation to tax those bonuses back at 90% to 100% rates after specifically adding a section in the stimulus that allowed them is illegal. If it was such a problem they shouldn't have agreed to it in the first place. That money is gone and never coming back (legally). Also, this is a nice taste of what to expect in returns from the rest of the stimulus money.


written by Lurch  | 8 months 2 weeks ago | CH
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