Comments on: Why Are Democrats Protecting AIG?

By: Mike gamecock DeVine

Mike gamecock DeVine — Thu, 19 Mar 2009 14:26:39 +0000

By: Mike gamecock DeVine

Mike gamecock DeVine — Thu, 19 Mar 2009 14:25:18 +0000

requires that we follow the Dodd Amendment and exempt the AIG bonuses. The remedy is for the govt to deduct the amount of same from the latest bailout installment,

By: Mike gamecock DeVine

Mike gamecock DeVine — Thu, 19 Mar 2009 14:25:18 +0000

requires that we follow the Dodd Amendment and exempt the AIG bonuses. The remedy is for the govt to deduct the amount of same from the latest bailout installment,

By: Hammer2008

Hammer2008 — Thu, 19 Mar 2009 03:31:33 +0000

I say pull a Pontious Pilate, vote “present” and wash your hands of such a vote; after all, voting “present” is to emulate former U.S. and IL state Senator Barack Hussein Obama, no?

By: Kyle-MI

Kyle-MI — Thu, 19 Mar 2009 02:57:59 +0000

If I understand the situation correctly, there is a legally binding contract between AIG and some of their employees where, if the these employees stay with AIG, then they get a bonus. Is the only way out of the contract to fire the employees? (Not necessarily a bad idea, but it would be extremely difficult to find and put in place all the replacements while the company is trying to get back on its feet.)

By: jcheney

jcheney — Wed, 18 Mar 2009 23:38:31 +0000

The bonuses are “retention” bonuses not “performance” bonuses. My understanding is the bonuses they are talking about are paid in order to keep the employees. The bonuses have nothing to do with performance.

PS The video is no longer available.

By: Rapunzel46

Rapunzel46 — Wed, 18 Mar 2009 22:17:35 +0000

shown up for the dog and pony show this morning and when they followed some of the democrats who made grand speeches blaming this on the GOP had used their time to set the record straight. The GOP is in the wilderness for two reasons… one was spending like democrats, but the other is they still refuse to speak out clearly and loudly about who is really making the rules.

By: $peciallist

$peciallist — Wed, 18 Mar 2009 21:35:58 +0000

…the Helicopters should be flying into Costa Mesa in about an hour!

Nobody knows how he’s getting to the Fairgrounds…..they will have to CLOSE the freeway to get him here from long beach by motorcade…

405 south has terrible traffic!!

By: randy streu

randy streu — Wed, 18 Mar 2009 21:23:10 +0000

and they should raise unholy hell in explaining to the public exactly why, A, the Dems are doing it and, B, they, the Republicans are fighting it. If I don’t see (R) representatives on every news channel tomorrow, I’m going to be VERY disappointed.

By: $peciallist

$peciallist — Wed, 18 Mar 2009 21:17:26 +0000

the Repubs should vote NAY….Repubs should not get sucked into this…

Attention Conservative Leaders, stand together and vote NO on 90% taxes

Timma knew!…..

By: civil_truth

civil_truth — Wed, 18 Mar 2009 20:56:30 +0000

The Democrats complain about the bonuses; the Republicans say, right on – and by the way, you Democrats are the ones who approved these bonuses in the first place, so you should be angry at yourselves.

And as for “interference”since the law does provide for abrogation of contracts if the company goes insolvent; it is not unreasonable to apply a similar concept here to reduce or modify the bonus plan. I wouldn’t want to make the a practice, but exceptional circumstances warrant a proportionate exception response

Given the economic plight of the company, I don’t see serious moral hazard in modifying the contracts; what is the real hazard is the brownshirt outrage that is being deliberately and maliciously stirred up by the Democrats to cover up their complicity. That’s not proportionate and endangers the republic by inciting mob passions.

By: red4ever

red4ever — Wed, 18 Mar 2009 20:47:58 +0000

These bonuses were issued pursuant to poorly written contracts. Should they have been based on positive performance? Yes. But, the actual contract apparently says they get the bonuses no matter what. So, AIG did what they were legally required to do under the terms of the contract. Remember, the contracts were entered into before the bailout.

So, please explain to me why the GOP should support interference with a contract legally entered into between a private entity and an individual? Not trying to start a fight. I just am not sure this the stand the party should be taking.

Morally should the executives give the bonuses back? Sure. Legally, I am not sure. And I am definitely sure the government should not be in the bullying business.

Thank you.

By: Alberta

Alberta — Wed, 18 Mar 2009 20:17:36 +0000

AIG smoking crack is bad, but the DEMOCRATS are EVIL for importing, refining, and distributing the crack. (AIG using its insurance business to fund a hedge fund is bad, but the Dems are responsible for giving us the regulatory framework that allowed and in fact encouraged AIG to do it.)

Most of us here are all for personal responsibility. Cool. Lets be real, though. Junkies are junkies because the drug takes control. They need help, because left alone they will rot. Well, the bankers that a lot of you want to eat are junkies. They needed our help. The Democrats fought tooth and nail to protect Frannie (Fannie + Freddie), which was the dealer. Laws that governed the wall between banks and investment firms where weakened under the DEMOCRAT controlled congress.

Stop being fooled. AIG is not polite, sure, but save the outrage for the people who deserve the anger directed at them, which isnt the bankers, but their enablers, the incompatent men and women who infest Congress and the White House.

By: Husker

Husker — Wed, 18 Mar 2009 19:13:14 +0000

will be waged over planned bonuses of $611K to Fannie Mae execs, or will Barney Frank reprise his role as Officer Barbrady shouting "Nothing to see here" as he did before with the GSE's.

By: djemi

djemi — Wed, 18 Mar 2009 19:06:46 +0000

That what I’ve just heard on Rush.

By: janis

janis — Wed, 18 Mar 2009 19:00:55 +0000

execs are in line for bonuses up to $611k. Now tell me the Dems didn’t know THAT was coming! Oh, Barney Frank, what a tangled web we weave when first we practice to lie in Porky Pig’s flabby voice.

By: civil_truth

civil_truth — Wed, 18 Mar 2009 18:45:08 +0000

What the Republicans need to do is to shine the light on how the Democrats enabled and continue to enable these payments – that is to get the message across the the Democrats are hypocrites – and even more than hypocrites, are actually maliciously starting a witch hunt of witches that they created themselves.

This is a good start, but certainly not enough.

Republicans need to continue to jump up and down and do whatever they can to expose this right now – this is Reichstag fire territory, if we don’t stand up the Republican will get burned down, as well as our Republic.

And as for the AIG recipients – when the political party in power goes nuclear, there aren’t going to be many survivors left – and individual merit has nothing to do with casualities.

By: ddlbb

ddlbb — Wed, 18 Mar 2009 18:30:20 +0000

the democrats lose their whipping boy: the rich bonus recipients.

as long as they’re out there, the heat is deflected from the president, geithner (who knew of the bonuses months ago), and chris dodd (who put the exemption for the bonuses in the stimulus bill).

why help solve a problem when you can worsen and extend a crisis?

By: Mike gamecock DeVine

Mike gamecock DeVine — Wed, 18 Mar 2009 18:27:59 +0000

is unwittingly protecting Obama and the Dems by falling into this trap of extreme outrage towarsd AIg rather than the Obama/Dem policies that caused this matter (see obama signing Dodd amended stimulus) and the fannie caused econ crisis overall.