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Chaos Theory - AIG's Bonus of Contention
By Robert and Donna Trussell - Politics Daily...
Chaos Theory - Banksters Gotta Eat Too
By Robert and Donna Trussell - Politics Daily...
Chaos Theory - Bonus on Wall Street: Nothing Can Stop It
By Robert and Donna Trussell - Politics Daily...
Bonused Employee to AIG: Take This Job and....
By Dave - Politics DailyThis editorial by a soon-to-be-former AIG employee at the NYT is getting the buzz of the day at Memorandum, and it's not hard to see why. Jake DeSantis starts out with some context as to how he came to get a $740k bonus and then gets around to his primary beef with the CEO of AIG:I have the utmost respect for the civic duty that you are now performing at A.I.G. You are as blameless for these credit default swap losses as I am. You answered your country's call and you are taking a tremendous beating for it.But you also are aware that most of the employees of your financial products unit had ...
Obama Getting Cold Feet On Bonus Tax Plan?
By Dave - Politics DailyYesterday, Obama appeared to welcome the House-passed bill to slap a 90% tax on the AIG bonuses. via Reuters President Barack Obama on Thursday welcomed a U.S. House of Representatives vote to tax bonuses to employees at companies getting federal bailout money, saying it "rightly reflects" outrage at hefty rewards paid by American International Group Inc. "Now this legislation moves to the Senate, and I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated," Obama said in a statement ...
Dodd Admits Writing AIG Bonus Loophole
By Dave - Politics DailyEmbedded video from <a href="http://www.cnn.com/video">CNN Video</a> Whoa! Via CNN, who noted wryly: On Tuesday, Dodd denied to CNN that he had anything to do with the adding of that provision. Yes, well, apparently that statement is "no longer operative". Note that Dodd is stating that he also wrote in a clause in which Geithner could indeed reach back and take back the bonuses. Geithner, last we heard, is deducting the bonus money from the overall $30 billion given(in the last round) which is less than 99% of the total. This does not lessen the sting of seeing the Democratic ...
Kanjorski Video: Bonus Issue Known For Weeks
By Dave - Politics DailyThis is big in the whole AIG bonus fiasco: Paul Kanjorski (D)* is claiming here that he's been trying to communicate with the Treasury Department about the bonus issue "at least six or seven times" at 1:21 in the above video with more detail at 4:30. Wow. Most of Kanjorski's ire is directed at CEO Liddy of AIG. At the very end, there's a veiled threat that Liddy should be removed as CEO. My only problem is, why not just state it openly and clear the management and board at AIG? That should resolve the bonus issue, no? We do own 80% of the company, right? Also fun quote on whether Geithner is ...
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