Obama Threatens to Abrogate AIG Contracts
 

Obama will try to block executive bonuses at AIG

Discuss.

He ought to. I can't read that right now, but heres a stupid counter-argument that, if I didn't know better, I would swear is an argument to be ripped apart...

http://www.nytimes.com/2009/03/17/bu...n.html?_r=1&hp

why not just put this in the official Barrack Obama Thread???

1) Because it has broader implications on the American government & executive branch than just what the current President represents.

2) Because I wasn't thinking at the time I posted this.

/merge

hahahaha^

but yeah it's good that he's stepping up and doing that

Technically that's unconstitutional right? Not that I care what that outdated document has to say about it that much.

no.

it's like asking for a student loan then not enrolling in school and buying a car instead. you're misappropriating your loan and ignoring the primary stipulation of your contract.

these companies asked for bailout money to keep from going under, not a handout from the public coffers to pad their pockets.

here's the real stumbling block though.... seems most of the people who got paid bonuses actually worked in departments that turned a profit last year (at least that's another one of the rumors circulating the issue)

i'll try laying it out in terms most of us can understand here (movies and video games). the vivendi group owns both universal studios and blizzard entertainment, let's say everyone stops going to movies because they're all playing WoW instead. now universal studios is tanking, and they're such a large part of vivendi that now they're looking at tanking too, but blizzard is still rolling in cash. do the blizzard execs have to lose their bonuses to pay for universal studios operating costs so their parent group stays afloat? is that 'right'?

the list of AIG execs who got the big bonuses hasn't been released to the public yet, and until it does it's really all speculation as to who got what and where it came from. some people might actually deserve a bonus this year, but it definitely should NOT come out of the bailout money.

Obama needs to get angry... Hulu - Saturday Night Live: The Rock Obama

I don't see why every executive action has to go into the "Official Barack Obama Thread" he isn't Metallica; he's the President of the United States. The issues he's dealing with are more complex in terms of their scope and intricacies than what could be discussed in a single topic.

Anyway I'm positively thrilled by this of course. I wasn't happy with the way the government dealt with the fiscal troubles of these companies but since they were "bailed out" I'd like them to be as regulated as possible (nationalization would be preferable, if they're "too big to fail" then we shouldn't put them in the hands of corrupt and greedy men or we should break them up into smaller companies.) It would be preferable if no bonuses were handed out at all though and the executives and people making obscene paychecks took cuts in that area. After all if your company is on the brink of collapse every dollar counts.

I didn't read that but the title gave me a gist. He should step in, though, bonuses don't help them build the business back up, it only takes a little more out of it. Especially since it's coming straight out of the loan. If they had made a huge comeback and weren't relying on the loaned money, then a bonus would be acceptable; but they haven't and they still are, so get back to work you dumb bastards.