AIG uses bailout money to pay employees.

[TexasWSP]

The faux outrage over these bonuses and the subsequent treatment of the recipients by, basically, everyone is ludicrous...and disgusting.

These contracts were written in March 2008....before any money was even allocated. The employees in question were asked to stay on an work their asses off for the sake of the company and they were continually assured that they would be receiving bonuses for their work.

Didn't Barney Frank suggest suicide for the people that received the bonuses and aren't willing to give them back??

One of these guys submitted an op-ed to the NY Times yesterday..heard Glenn Beck and Rush read it on their broadcasts word for word. Y'all should too.

[Munchkin03]

Originally Posted by TexasWSP

The faux outrage over these bonuses and the subsequent treatment of the recipients by, basically, everyone is ludicrous...and disgusting.

These contracts were written in March 2008....before any money was even allocated. The employees in question were asked to stay on an work their asses off for the sake of the company and they were continually assured that they would be receiving bonuses for their work.

Didn't Barney Frank suggest suicide for the people that received the bonuses and aren't willing to give them back??

First--I chalk most of this outrage to Middle America not understanding the way that Corporate America works. I'm not a big fan of populist rage, so take that as you will. I understand that retention bonuses aren't the same as performance bonuses; I don't understand what going to someone's house is going to do.

Second--The congressman who made the suicide suggestion was Senator Grassley, a Republican from Iowa.

[ISUKappa]

Originally Posted by TexasWSP

Didn't Barney Frank suggest suicide for the people that received the bonuses and aren't willing to give them back??

I don't know if Frank made a similar comment, but Sen. Charles Grassley (R-Iowa) made a comment that the AIG execs should do as the Japanese execs do when something gets royally screwed up: apologize sincerely and then either resign or commit suicide.

ETA: x-posted with Munchkin. Grassley is a fairly blunt guy and made a similar comment last fall (before the bonus "scandal"). What he really wants is the AIG execs to admit, "Hey, we completely effed up everything. We realize that. We know we can't change it, but we are sorry." Not like it will ever happen, but that's the supposed explanation for his comment.