Obama's bonus from AIG - JeepForum.com
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post #1 of 17 Old 03-18-2009, 07:18 AM Thread Starter
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Obama's bonus from AIG

In a round-about way.

http://www.examiner.com/x-268-Right-...Bonus-from-AIG

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post #2 of 17 Old 03-18-2009, 07:52 AM
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post #3 of 17 Old 03-18-2009, 12:36 PM
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Ive started to regret my vote. I hope he can get his head out if his *** and turn this around

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post #4 of 17 Old 03-18-2009, 01:57 PM
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get a life people

"It is a rather curious spectacle to see congressional Republicans express outrage at the exorbitant bonuses being handed out by bailed-out companies and blame the Obama administration for failing to curb the practice with AIG. Because when the first installment of the Troubled Asset Relief Program was passed it was the Bush administration and GOPers in Congress who were insisting that caps on executive compensation not be part of the legislation.

As the New York Times reported at the time that TARP was being crafted, "Congress and the administration remained at odds over the demands of some lawmakers, including limits on the pay of top executives whose firms seek help."

Former Treasury Secretary Hank Paulson said that while he was upset with the levels of salary afforded to top executives, any cap on such would dissuade companies from participating in the TARP.

"If we design it so it's punitive and so institutions aren't going to participate, this won't work the way we need it to work," he told Fox News Sunday on September 21.

Senator Richard Shelby, the top Republican on the Senate Banking Committee, told CBS news that: "It should be up to the board of directors of a private corporation to set the compensation of an executive; it shouldn't be Congress's role."

Senator Mel Martinez told CNBC that: "While it is very appealing to think about executive compensation as being a part of this, one of the drawbacks to that is perhaps that we would have fewer entities participate in what is essentially a voluntary act."

And House Minority Whip Eric Cantor, "outraged" over AIG's issuance of $165 million in bonuses, said he was not in favor of "the federal government be[ing] able to set salaries across the board," when the issue of executive compensation arose in September 2008.

The issue extended to when the Obama administration was tasked with writing its own version of the TARP. Senate Minority Leader Mitch McConnell, likewise dismayed over AIG's bonuses this past week, said back in early February that while he was "appalled" at some of the perks executives had received, he did want "the government to take over these businesses and start telling them everything about what they can do."

That said, the Obama administration too was pushing back against overly-strict caps on executive earning albeit still favoring some form of limitation.

Of course, a distinction could be made between executive compensation and issuance of bonuses. One being salary, the other being rewards. But in this and other cases, money is fungible. And back when the Troubled Asset Relief Program was being debated, it was the leadership of the GOP and the past administration that asked that the issue not be touched for fear that it would derail the legislation.

It was, after all, President Bush who warned lawmakers not to "insist on provisions that would undermine the effectiveness of the plan" while Barney Frank, chairman of the House banking committee, declared that there would be "no golden parachutes while we are the owners" of the bad assets of Wall Street firms."
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post #5 of 17 Old 03-18-2009, 02:02 PM
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wow, thats a far-fetched arguement! Seems to me that Republicans will try to find anything to HATE Obama!!

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post #6 of 17 Old 03-18-2009, 02:06 PM
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Originally Posted by MikeMCJ View Post
get a life people

"It is a rather curious spectacle to see congressional Republicans express outrage at the exorbitant bonuses being handed out by bailed-out companies and blame the Obama administration for failing to curb the practice with AIG. Because when the first installment of the Troubled Asset Relief Program was passed it was the Bush administration and GOPers in Congress who were insisting that caps on executive compensation not be part of the legislation.

As the New York Times reported at the time that TARP was being crafted, "Congress and the administration remained at odds over the demands of some lawmakers, including limits on the pay of top executives whose firms seek help."

Former Treasury Secretary Hank Paulson said that while he was upset with the levels of salary afforded to top executives, any cap on such would dissuade companies from participating in the TARP.

"If we design it so it's punitive and so institutions aren't going to participate, this won't work the way we need it to work," he told Fox News Sunday on September 21.

Senator Richard Shelby, the top Republican on the Senate Banking Committee, told CBS news that: "It should be up to the board of directors of a private corporation to set the compensation of an executive; it shouldn't be Congress's role."

Senator Mel Martinez told CNBC that: "While it is very appealing to think about executive compensation as being a part of this, one of the drawbacks to that is perhaps that we would have fewer entities participate in what is essentially a voluntary act."

And House Minority Whip Eric Cantor, "outraged" over AIG's issuance of $165 million in bonuses, said he was not in favor of "the federal government be[ing] able to set salaries across the board," when the issue of executive compensation arose in September 2008.

The issue extended to when the Obama administration was tasked with writing its own version of the TARP. Senate Minority Leader Mitch McConnell, likewise dismayed over AIG's bonuses this past week, said back in early February that while he was "appalled" at some of the perks executives had received, he did want "the government to take over these businesses and start telling them everything about what they can do."

That said, the Obama administration too was pushing back against overly-strict caps on executive earning albeit still favoring some form of limitation.

Of course, a distinction could be made between executive compensation and issuance of bonuses. One being salary, the other being rewards. But in this and other cases, money is fungible. And back when the Troubled Asset Relief Program was being debated, it was the leadership of the GOP and the past administration that asked that the issue not be touched for fear that it would derail the legislation.

It was, after all, President Bush who warned lawmakers not to "insist on provisions that would undermine the effectiveness of the plan" while Barney Frank, chairman of the House banking committee, declared that there would be "no golden parachutes while we are the owners" of the bad assets of Wall Street firms."
so who was in power the elephant or the mule? They all screwed up IMO. but these days only one group of thieves is in charge.

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post #7 of 17 Old 03-18-2009, 02:07 PM
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Obama wanting to make wounded vets pay for their health care is enough for me to hate him. I don't need any other reasons.

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post #8 of 17 Old 03-18-2009, 03:17 PM
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Obama wanting to make wounded vets pay for their health care is enough for me to hate him. I don't need any other reasons.
that is hyperbole, nothing has been made policy, it's to have the insurance companies pay - not the vet, and

"The president was sympathetic to the needs of veterans, Gorman said, but insisted that the insurance companies are getting away with not paying for anything."

"The vets are paying premiums to insurance companies, and that is a free ride that needs to stop," Gorman said in describing the president's message to the group.

maybe he can negotiate lower private insurance for the vets.....


and I meant that I need to get a life, looking at this general forum.....

Last edited by MikeMCJ; 03-18-2009 at 03:30 PM.
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post #9 of 17 Old 03-18-2009, 03:39 PM
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Originally Posted by MikeMCJ View Post
get a life people

"It is a rather curious spectacle to see congressional Republicans express outrage at the exorbitant bonuses being handed out by bailed-out companies and blame the Obama administration for failing to curb the practice with AIG. Because when the first installment of the Troubled Asset Relief Program was passed it was the Bush administration and GOPers in Congress who were insisting that caps on executive compensation not be part of the legislation.

As the New York Times reported at the time that TARP was being crafted, "Congress and the administration remained at odds over the demands of some lawmakers, including limits on the pay of top executives whose firms seek help."

Former Treasury Secretary Hank Paulson said that while he was upset with the levels of salary afforded to top executives, any cap on such would dissuade companies from participating in the TARP.

"If we design it so it's punitive and so institutions aren't going to participate, this won't work the way we need it to work," he told Fox News Sunday on September 21.

Senator Richard Shelby, the top Republican on the Senate Banking Committee, told CBS news that: "It should be up to the board of directors of a private corporation to set the compensation of an executive; it shouldn't be Congress's role."

Senator Mel Martinez told CNBC that: "While it is very appealing to think about executive compensation as being a part of this, one of the drawbacks to that is perhaps that we would have fewer entities participate in what is essentially a voluntary act."

And House Minority Whip Eric Cantor, "outraged" over AIG's issuance of $165 million in bonuses, said he was not in favor of "the federal government be[ing] able to set salaries across the board," when the issue of executive compensation arose in September 2008.

The issue extended to when the Obama administration was tasked with writing its own version of the TARP. Senate Minority Leader Mitch McConnell, likewise dismayed over AIG's bonuses this past week, said back in early February that while he was "appalled" at some of the perks executives had received, he did want "the government to take over these businesses and start telling them everything about what they can do."

That said, the Obama administration too was pushing back against overly-strict caps on executive earning albeit still favoring some form of limitation.

Of course, a distinction could be made between executive compensation and issuance of bonuses. One being salary, the other being rewards. But in this and other cases, money is fungible. And back when the Troubled Asset Relief Program was being debated, it was the leadership of the GOP and the past administration that asked that the issue not be touched for fear that it would derail the legislation.

It was, after all, President Bush who warned lawmakers not to "insist on provisions that would undermine the effectiveness of the plan" while Barney Frank, chairman of the House banking committee, declared that there would be "no golden parachutes while we are the owners" of the bad assets of Wall Street firms."

I guess that Dodd, the person identified as the one who removed a provision in the most recent stimilus bill that would have eliminated any bonus to AIG execs has nothing to do with the issue? After all he has a D after his name and only received 250,000 in campaign donations from AIG.

Its always easier to sit on the sidelines and snipe. Now that the Dems are in power you'll find the doing is a lot harder than the saying.
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post #10 of 17 Old 03-18-2009, 03:55 PM
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I live in CT and realize Dodd has to go, but that statement is not consistent with this:

http://www.mlive.com/politics/index....histopher.html

if that is true, maybe he should go now instead of 2010. I can tell you he does not have my vote.

let's not forget what got us into this hole, you cannot expect an instant solution
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post #11 of 17 Old 03-18-2009, 04:18 PM
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Here's a link from media matters, a liberal group.

http://mediamatters.org/items/200903170026

They're disputing a Fox news report. The key is Dodd did have language regarding bonus pay and contracts. There is a lot of finger pointing about who knew what and when.

Watching these retards who represent us today grilling the AIG chairman was pathetic. They all need to go!!!
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post #12 of 17 Old 03-18-2009, 04:25 PM
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Here's a link from media matters, a liberal group.

http://mediamatters.org/items/200903170026

They're disputing a Fox news report. The key is Dodd did have language regarding bonus pay and contracts. There is a lot of finger pointing about who knew what and when.

Watching these retards who represent us today grilling the AIG chairman was pathetic. They all need to go!!!
They better get to the bottom of this. I want to know what happened. Was it planned? Was it a career appointee? and what is Obama going to do about it...
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post #13 of 17 Old 03-18-2009, 04:38 PM
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They better get to the bottom of this. I want to know what happened. Was it planned? Was it a career appointee? and what is Obama going to do about it...


LOL, one report is that the language appeared after it was returned to congress from the current administration. Don't know if its true or not. Be aware, frannie and freddie execs are also in line for a bonus, this will be


This all happened because congress wrote a trillion dollar bill without reading it.
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post #14 of 17 Old 03-18-2009, 05:21 PM
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looks like geitner lied

http://www.time.com/time/business/ar...886138,00.html

and Dodd is as big a turd as we all though.

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post #15 of 17 Old 03-18-2009, 05:30 PM
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looks like geitner lied
Him and his predecessor were are bums, are you suprised?

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Or Zona because he reminds me of charlie sheen
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