Kooties_ 2000 asked:


Here’s an excerpt from an article that I read this afternoon about AIG and their CEO:

But, he (Edward Liddy) also said that the roughly $165 million in bonuses paid out over the weekend should be honored as a legal commitment of the United States government, which now owns 80 percent of the battered insurer.

“When you owe someone money, you pay that money back,” Liddy maintained. “We at AIG want to believe that we are all in this together,” said the man named six months ago to take over the company as part of the government rescue. Some $170 billion in tax money has now been pledged to AIG.

Edit:

I remember reading that AIG lost 16.9 million dollars last year. So far AIG has received at least 3 “tax payer” bailouts. I also read that the bonuses were a “contractual agreement” between AIG and our government.

Since AIG has yet to turn a “profit” how can they justify receiving “contractual bonuses?” They lost money, therefore there should be no “reward.” Or does the agreement dictate that AIG receive bonuses regardless of “performance?” Our government owns 80% of AIG; why does our government appear shocked and appalled by what AIG is doing?! ( o _ 0 ) If our government is so “horrified” by what’s taking place, then why aren’t AIG executives going to jail? http://news.yahoo.com/s/ap/aig_outrage

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ettubozo asked:


excerpt from link:
At least 46 banks and lenders have received preliminary approval to sell preferred stock and warrants to the government. At least 33 other companies have put in applications for another $11.4 billion, including three insurers that may acquire savings and loans in order to access the government cash. Publicly traded bankers had to apply for the Treasury funds by Nov. 14.

http://www.bloomberg.com/apps/news?pid=20601109&sid=a2JWFmpsSmto&refer=news

I Googled….where are TARP funds going?
came across this article
and this line caught my attention
“including three insurers that may acquire savings and loans in order to access the government cash.”

If they have enough money to acquire, iaw BUY these savings and loans….why do they need TARP funds?

Is this TARP thing turning into feeding trough?
gimme gimme gimme?

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