AIG to pay $165 million in bonuses this year

[Askthepizzaguy]

Are we talking about AIG or Barney Frank and Chris Dodd?

I hope you know Devastatin Dave, that I hate those guys. I hate anyone who steals from the middle class and gives to the undeserving. I am struggling my way through college and I refuse to suck on the teat of government intervention.

This welfare state is big enough. That's another reason I hate these big bailouts. That's corporate welfare, not to mention an unregulated form of welfare.

I just want to know who gets the money. that's all. Is it really so much to ask?

[Major Robert Dump]

I don't think us knowing who gets the money matters to a certain extent because we can't do anything about it. Yeah, I know, democracy blah blah vote them out of office i2 2 years assuming we actually remember or they don't figure out a way to convince us that they weren't responsible because they were taking care of workers, or had to vote with the party, or needed to vote for it to get something else passed because it was attached to the bill or a quid pro quo on a future issue.

At this point, I'd honestly rather not know. The money is gone. And all this talk of paying back loans is comedic, because if the company still fails -- and many of them will -- guess what, the loan only gets repaid to the extent of liquid company assets and employees 401k plans, and the company executives are not liable, no way, no how.

What we are seeing now are corporations using the same budgeting, borrowing and spending techniques that our federal government has been using for the last half century. I just want to know when I get my turn.

[Devastatin Dave]

I hope you know Devastatin Dave, that I hate those guys. I hate anyone who steals from the middle class and gives to the undeserving. I am struggling my way through college and I refuse to suck on the teat of government intervention.

This welfare state is big enough. That's another reason I hate these big bailouts. That's corporate welfare, not to mention an unregulated form of welfare.

I just want to know who gets the money. that's all. Is it really so much to ask?

Sorry for my flippent remark, I'm glad to see you are not only looking at this thing from one angle. As my dear friend MRD said, they should have been allowed to fail. The government are simply prolonging the death. AIG is Terri Shiavo and the government keeps shoving a feeding tube back down the throat of a corpse. Let it die and allow someone else to take its place.

This whole bailout thing is not a way to "help" these companies and survive, its a way for the government to have more and more control over everything and to transfer more wealth from the private sector to the likes of Shummer, Pelosi, Reid, and Dodd. Scary stuff.

[Askthepizzaguy]

At this point, I'd honestly rather not know. The money is gone.

That's your emotional disgust talking, not your logical side. It is never a good move to become more ignorant of the facts, nor shoot oneself in the foot when we have already made a mistake.

Sorry for my flippent remark, I'm glad to see you are not only looking at this thing from one angle. As my dear friend MRD said, they should have been allowed to fail. The government are simply prolonging the death. AIG is Terri Shiavo and the government keeps shoving a feeding tube back down the throat of a corpse. Let it die and allow someone else to take its place.

Never apologize for being yourself, Devastatin Dave. This place would be awfully boring without you.

[Xiahou]

Why does this whole story remind me of the same overheated rhetoric that swirled around the Dubai Ports World (DPW) deal not to long ago? Just replace "terrorists will be running our ports" with "fat cat crooks are stealing our money".

I never thought the 165M was a big deal- like I said, its about a tenth of a percent of the bailout money that AIG received. Be mad about that if you must be outraged. The 165M is small change, in fact, it barely even rates as small change.

AIG is finished, there should be no doubt about that. The government's role should be to ensure a soft landing instead of an outright cratering. The employees of AIG have to know they're on a sinking ship- and I'm sure their natural instinct would be to jump ship and look for a new job before the labor market is completely flooded. However, if the government wants to liquidate AIG, they going to need to keep on some staff, managers, and yes, even the "evil" executives who know the business of selling assets. The only way they're going to get people to be willing to go down with the ship is by offering financial incentives for them to do so.

[Askthepizzaguy]

I never thought the 165M was a big deal- like I said, its about a tenth of a percent of the bailout money that AIG received. Be mad about that if you must be outraged. The 165M is small change, in fact, it barely even rates as small change.

How many people could be sent to college with that money? How many doctor's bills could be paid? How many abandoned children could be fed?

I object to wasting 10 dollars, let alone 165 million of them. Forgive the moral outrage, as I am sure it sounds like grandstanding, but it's a fact. There is no reason to waste 165 million dollars on unaccountable expenditures when we have higher priorities.

Gosh, Xiahou, it seems like we never agree. It's nothing personal man.