AIG to pay out $235 million in bonuses

[vladi123456]

Just read online - AIG to pay out $235 million in bonuses to about 400 of their employees - which is about $587K per person. For those who don't know - AIG is the company that got more than 80 billion dollars in bailout money from the US governement - due to heavy losses (almost 100 billion dollars just in the last year alone). I wonder if they loose 200 billion dollars next year - will they get double the bonus? :annoyed:

 

[MasterBlaster84]

These greedy MF's haven't learned a thing even after the last bonus fiasco have they. Have these diarrhea spewing money grubbing thieves with no heart or common sense completely lost their minds, are they really that out of touch. Bottom line is all that money comes from us whether it's bailout money or not, ultimetely all money in business comes from the general public.

Just read a story on it, seems this is a continuation of some of the earlier dumb ass greedy agreements. AIG sure is the poster child for gross excess and the greedy disconnected indiference these overpaid mongers display.

 

[vladi123456]

Ya, I know - makes me angry - to take the bailout money to pay themselves million dollar bonuses :annoyed:

 

[monchito]

well i am waiting for my share :annoyed: :annoyed: :annoyed:

 

[MasterBlaster84]

well i am waiting for my share :annoyed: :annoyed: :annoyed:

You might want to move on to other things while your waiting.

Just think what one of their bonus checks would mean to any of us, let's put the insane compensation in perspective here.
We have high housing prices in my city but it would still buy a nice house in an upscale neighborhood and put a Lexus in the garage to boot. It would buy us around 500 minty M90's, probably would pay for all the boomboxes all of us have as a whole. Tell me that's not discusting excess and we're only talking about 1 years bonus for these creeps.

 

[vladi123456]

Another thing is that if they get half a million dollars bonus now - after losing 100 billion dollars last year as a company - what kind of bonuses do they get when the company makes a profit?
I also just read in the news that Allstate is raising rates in Texas up to 15% this year - they must want a half a million dollar bonus too

 

[MasterBlaster84]

I also just read in the news that Allstate is raising rates in Texas up to 15% this year - they must want a half a million dollar bonus too

This is part of what's wrong and why we are having so many problems, rampant greed is a major problem and has been for a long time but it's just now come to a head. Are people learning from it? I tend to think the ones that need to learn the most have learned the least and the cycle continues.

 

[easyjoe]

From what I understand, these are bonuses pre-existing in the contracts for these employees. I hate seeing it happen, but the real mistake was our government not requiring the renegotiating of contracts to eliminate these altogether as a condition of accepting one CENT of taxpayer money. Obviously, the bonuses aren't for performance!

 

[vladi123456]

From what I understand, these are bonuses pre-existing in the contracts for these employees. I hate seeing it happen, but the real mistake was our government not requiring the renegotiating of contracts to eliminate these altogether as a condition of accepting one CENT of taxpayer money. Obviously, the bonuses aren't for performance!

I have one big issue with the statement regarding pre-existing contracts. If it wasn't for federal bailout - AIG would not even exist anymore. So all those employees would be collecting unemployment right now. Those people should not be getting half a million dollars each. If anything - they should be happy they still have a job - thanks to all of us - our money went to save those greedy bastards - who keep raising our rates to compensate for their stupidity and huge losses

 

[MasterBlaster84]

From what I understand, these are bonuses pre-existing in the contracts for these employees. I hate seeing it happen, but the real mistake was our government not requiring the renegotiating of contracts to eliminate these altogether as a condition of accepting one CENT of taxpayer money. Obviously, the bonuses aren't for performance!

I have one big issue with the statement regarding pre-existing contracts. If it wasn't for federal bailout - AIG would not even exist anymore. So all those employees would be collecting unemployment right now. Those people should not be getting half a million dollars each. If anything - they should be happy they still have a job - thanks to all of us - our money went to save those greedy bastards - who keep raising our rates to compensate for their stupidity and huge losses

Well said Vladi and a point that all at AIG and the Government regulators are sorely missing. Shouldn't that fact alone invalidate any of this BS? The American public raping continues.