Comments on: "Betrayed" AIG Exec Offers Public Resignation

[citizen4honor]

Posted by EatCake

If you want socailism then follow Obama.

Wall street did not create this mess, Congress did. Our gov't did. People who took out loans they could not pay did.

Most CEO's are hard working people that worked their way up to the top. It's the opportunity you currently have.

If you don't know who DIck Morris is, maybe you should look him up.

[McHineguy]

That's pretty socialistic, but Obama has three more years to get us up around Germany and really ruin our economy!
Posted by citizen4honor at 11:05 AM : Mar 25, 2009

I fear you are right on. I have heard Dick Morris' explanation and it fits too well with what we observe. Obama wants the baks to fail so his administration can take them over. Then, through the banks, he can manipulate whatever he wants. The Europeans see this (they have seen it before) and are beginning to talk that the Dollar should be replaced as the world currency standard.

[EatCake]

Does Dick Morris understand the inverse of his argument?

People feel it is the failures of a Wall Street that gives rise to greed and the Bernie Madoff style scheming have led to their now being in the position of saving those who are now whining about not getting their six figure bonuses (look up definition of bonus) while the company they work for can?t cover its legal obligations to those who entrusted their payments to. What judge in the world would propose paying a bonus (based on its definition) to anyone in an organization that could not first meet its contractual obligations with those that paid them for a service? Mr. DeSantis based on his proposed bonus alone accounts for a very small percentage of the population, that holds a massive amount of the overall population?s wealth. Is Mr. Obama and roughly 90% of the people suppose to coddle those who have not only taken the money of their customers in good faith, but now taken the money of their fellow citizens in good faith so that their obligations to their customers can be met, yet still whine about not getting a 6 figure bonus, much less a six figure salary?

If Mr. Morris believes this is true then I believe he truly believes the American people will fall for the same con twice.

It?s time someone says NO to the greedy spoiled brats who whine about the ?entitlement? of people living on the edge of a tolerable existence, but expect no one to see how the greedy are screaming for their own six figure ?entitlements?. Respect will indeed be given, when respect is earned. Wall Street is angry now because much of it and the economies it needs to survive are in trouble, ironically because Wall Street thought of itself as the maker or breaker of such.

When they were "making" the U.S. economy and world economies, they wanted and got the credit. Now that the greed that drives and motivates much of Wall Street (money is god) has broken those economies and Wall Street ( the companies that Wall Street trades) needed the very things they have traditionally opposed to bail them and thus the economies they broke out, because no other single domestic entity could mount such a rescue, they are like the child caught with their hand in the cookie jar, busted, but determined not to admit to and try to suggest someone else or some other force put them up to it. Because vanity often accompanies greed, the vain are unable to admit or accept their own failure and find rescue by that and those they held disdain for that much harder to admit to or accept.

When we all realize we?re on the same ship and that ship is under threat of sinking, perhaps, like those with substance abuse problems, will have made the first major step toward recovery.

[citizen4honor]

gp-usa:A message for DeSantis. AIG is bankrupt. It has NO money. The bailout money was to help keep it from bankruptcy, not to bail out it's employees.

Of course Mr. DeSantis and for his hard work he provides nicely for his family.

AIG was bailout to support our congress members 56 of which own between $200,000 and $500,000 in stock, Pelosi owns $500,000 in stock and John Kerry owns $2.5 Million in stock.

Obama received over $200,000 in campaign contributions from AIG directly and employees and Chris Dodd have received over $180,000.

68% of contributions made by AIG went to DEMS in power.

Congresses retirement is backed by AIG.

That's why they were bailed out.

[omega39-2009]

Oh whaaa..... People should send this bozo a return letter crying about how they lost their Jobs, homes and retirements to the actions of DeSantis and his employer. It is indeed very telling that he would rather "give" the money away than return it to the rightful owners, the US taxpayer.

[citizen4honor]

I believe Congress needs to enact a congressional inquiry to investigate the bail out money mismanagement problems and bonus spending spree. Congess needs to spend an additional 500 million during the investigation.
Posted by rainmaker297 at 11:30 AM : Mar 25, 2009

This will never happen since Obama, Geithner, Dodd are at fault.

Second why does everyone think the money came from our treasury department. The federal reserve bailout AIG, and we are paying the Federal Reserve back with interest by the way.
The Federal Reserve Bank is not owned by the American people.

Go ask your congress members about this bit of knowledge and check out my blog post at 8:57 AM this morning.

[czechtraveler]

good riddance to bad rubbish

[gp-usa]

A message for DeSantis. AIG is bankrupt. It has NO money. The bailout money was to help keep it from bankruptcy, not to bail out it's employees. AIG owes you your contract pay, not the American taxpayers who are struggling to get from one month to the next. There are honest, hardworking people that work 15 to 20 hours a week just to take care of their families. You may not have been the ONE to crush AIG, but it's not the people of the USA that owes you. AIG owes you for that contract. I'm sure any one of us struggling to pay our monthly bills would trade our $30,000 salary and less to work your 10-15 hour job for your $1 million yearly salary. You need to try living on our level. Maybe you would change your attitude. When can I trade jobs with you? I really need a $1million salary. My house payment, my car insurance and my house insurance are due in 7 days, also my electric bill and phone bill in 2 weeks. Oh, I need a new roof and flooring in my house, my furniture needs replacing really bad. And, you see, there are many more people in worse financial condition than I am. I am thankful to still have a job(so far, could end any day now) and home(if I loose my job, I'll probably lose my home). You wouldn't dare live in a moble home, would you? You probably live in a multi-million dollar house with all the luxuries. Please trade jobs with me!

[SusanStoHelit]

Assuming the facts in the letter are accurate - and I suspect they are - he's got a valid point. Indeed, many or most of those getting bonuses probably did not create the problem, and probably did work hard for their money.

However - he's looking only at half the story. Fact is, without government money, AIG would be bust - no bonuses, not even that $1 he's got as salary. He's been very well paid in the past - enough so that he's not in trouble and can afford to donate his entire income to charity. And if he worked to bring AIG back, presumably he'd be well compensated in the future. That, IMO, should be what they see themselves as working for - not outrageously large bonuses.

I do really see the problem - taxes, or rules against bonuses, do penalize those running the profitable and responsible sectors of the company. It's a simple fact and true. But when a company goes out of business - those sectors are punished as well - you stand or fail as an entire company. It's the real world, it's not fair, but it is reality. They're being saved from that failure with public money - but they need to think like a company in bankruptcy, not like a normal company.

[realityzone]

Bottom line... the economic blame is 50/50.

50% greedy incompetent corporate scum
50% ignorant "wannabe" status-oriented home buyers

AIG executives should get no bonuses whatsoever and imbeciles who purchased homes far beyond their means who showed off during their precious housewarmings should not be assisted as well.

Common sense people... stop clouding the issue.