I 100% support his decision to block these bonuses. There is no fucking reason the AIG execs should even be thinking about $100+ million is bonuses in light of events of the last 6 months.

Well, at least they pretend to do something about it on the western side of the Atlantic.

Edit: I'm not sure on the legal ramifications, but can't they just split off the derivative unit from the main corpus and if they still demand their bonuses, let the unit go bankrupt?

I doubt they have much choice unless there was fraud involved. They can't just nullify any contract they don't agree with unless there is something illegal about it.

More logical solution:

Demand ALL the AIG bailout money back. Take AIG under temporary government control. Use the bailout funds to stabilize the business while splitting the business into numerous independents to GET RID OF THE TOO BIG TO FAIL business model which is what is screwing this country over to begin with.

Toss all of the screwball executives (and employees) involved in scamming the nation and world to the fire (figuratively).

It is time for the greed, the scamming, and the self destructive behavior to END.

So now we have Obama's Stalinist thug government targeting individuals, for no greater reason than to deflect and misdirect taxocrats' failed porkulus bill. These bonuses are a drop in the ocean compared to their thieving "earmarks".

While you fret over these bonuses do you realize that AIG has given BILLIONS to other banks, including foreign banks?

It is time for the greed, the scamming, and the self destructive behavior to END.

^ Agreed. Congress should be dismantled.

Does anyone think this says something about the balance of power in this country when the single most powerful elected official (representative) is basically *asking* a company not to give our money away?

>> ^Psychologic:
I doubt they have much choice unless there was fraud involved. They can't just nullify any contract they don't agree with unless there is something illegal about it.


This whole nonsense about contractually obligated bonuses is ridiculous. Bonuses should be rewards for good work done, not for hanging around while the company fails. Contractually obligated or not, there's no reason for anyone in AIG to receive a bonus.

They should deny the bonuses and take the heat for it. They'll get sued and might have to pay them later, but the legal process will take a few years and by that point, they'll have either gone under or be back on their feet and the US taxpayers won't be footing the bill for it.