Fracked up!

[ionelv]

It seems that the folks at AIG decided that it's OK to siphon off $165M in bonuses from the $170B bailout honeypot, to "retain the best and the brightest talent" in the industry. WTF!? AIG also has a $450 million bonus pool to outside lawyers. You gotta be fracking kidding me!!? So, the US fed govt owns 80% of AIG, and you're telling me that they can't renegotiate those bonuses even though they're double-reaming the auto unions at the same time!??

Where are the details and supposed strings attached to the AIG bailout money? Why aren't we informed about the details of these bailouts? Or is this bailout no better than Dubya's billions of dollars of cash which his minions doled out in Iraq like pizza coupons?

Cum nu vii tu, Ţepeş doamne, ca punând mâna pe ei,
Să-i împarţi în două cete: în smintiţi şi în mişei,
Şi în două temniţi large cu de-a sila să-i aduni,
Să dai foc la puşcărie şi la casa de nebuni!

It seems that Mr Obama is asleep at the wheel, or worse, as he just allowed on March 1st another $30B for AIG. What ever happened to Div B/Title VII of the legislation he just signed on Feb 13? I know that lawyers are scratching each others' backs and usually hold TP for the rich or bail and wipe goodfellas asses, but they do not have to screw over Joe Shmoe at the same time, do they? Basta pompini politici! Grow a sack and a conscience already!

Comments

[poruchik-r.livejournal.com]

Yep. It does look fucked up

[ionelv.livejournal.com]

Bloomberg has this update (http://www.bloomberg.com/apps/news?pid=20601087&sid=anFUui3W_YRI&refer=home):

AIG paid $1 million or more to 73 people in a money-losing unit, including a top recipient who got $6.4 million, Cuomo said yesterday in a letter to Frank, a Massachusetts Democrat. The insurer budgeted $57 million in “retention” pay as part of a larger $1 billion program to keep staff, according to a March 2 filing.

Oh, yeah, and Obama asked his underlings to "try" all legal avenues to curb these bonuses even though those underlings previously said that they've tried all avenues already and there's no more they can do. "Try", that'll show'em who's the boss! This is starting to reak of business as usual in the White House...

What and when Obama knew about the bonuses

[ionelv.livejournal.com]

WaPo reported on what and when Obama knew about the AIG bonuses (http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031804210_pf.html). Whether Obama knew months or days in advance, that only makes him look like an arrogant liar or clueless puppet.