Explain your answer ...
Poll
Are you outraged?
| Yes | 77% | 77% - 67 | ||||
| No | 22% | 22% - 20 | ||||
| Total: 87 | ||||||
I'm leaning towards yes, because it seems that the bailout money went to pay the bonuses.
However, to retain quality folks working for you, you have to pay them.
But if the company is failing, who actually qualifies for a bonus?
However, to retain quality folks working for you, you have to pay them.
But if the company is failing, who actually qualifies for a bonus?
I agree it's lame that bailout money went to bonuses. However, the government didn't put in any oversight with teeth for these funds. If they didn't want this to happen, they should have added oversight ... OR *drum roll* they could have just let them fail.
Quality people do need to be paid and legal contracts need to be honored. But if these people made the stupid decisions that caused the problems in the company, bonuses seem silly.
Quality people do need to be paid and legal contracts need to be honored. But if these people made the stupid decisions that caused the problems in the company, bonuses seem silly.
If...
...they then renegotiated the contracts for a pay cut in the next year(s), or if they had a plan to "make up the difference" the next year(s), then my answer would definately be no to your question.
However I haven't seen any of that, but I doubt they would make that public.
...they then renegotiated the contracts for a pay cut in the next year(s), or if they had a plan to "make up the difference" the next year(s), then my answer would definately be no to your question.
However I haven't seen any of that, but I doubt they would make that public.
Yeah, why should execs that bankrupted the company be getting bonuses?
Unfortunately we taxpayers are stuck with a pot, kettle, black situation. If the politicians had let AIG fail, these bonuses wouldn't be going out now. On top of that, we voted these people in. We wanted a "fix", swallowed the bs the politicians fed us, and now we're pissing and moaning when politicians are shoveling money into failing companies. Seems that we the citizens are rather stupid, too.
Last edited by Stingray24 (2009-03-16 11:24:54)
lawsuits would result from shitty employment contracts or improper incentive areas.SgtHeihn wrote:
Yeah, why should execs that bankrupted the company be getting bonuses?
for instance, you can get a bonus for increasing sales, yet the costs to get those sales may be higher then the gains.
aka not a profit driven incentive.
I don't care. It proves mindlessly throwing money at a problem doesn't work.
I stood in line for four hours. They better give me a Wal-Mart gift card, or something. - Rodney Booker, Job Fair attendee.
Quality folks eh? Somehow I think the people responsible for the biggest loss in corporate history aren't "quality folk" but ok, quality folk they are.Pug wrote:
However, to retain quality folks working for you, you have to pay them.
So basically, 100% of the people who work there are worthless?Mekstizzle wrote:
Quality folks eh? Somehow I think the people responsible for the biggest loss in corporate history aren't "quality folk" but ok, quality folk they are.Pug wrote:
However, to retain quality folks working for you, you have to pay them.
Is that your argument?
My point is that the surest why to get AIG to fail is to get rid of all of the "good" people which should correlate with who got bonuses. Whether I agree with it or not is another issue...
No not outraged. If I were AIG execs I'd do the same damn thing.
Yes, i'm all for bonuses, but these people drove the company into the ground, they deserve noting.
What? The economy's supposed to be fixed by now? Oh christDBBrinson1 wrote:
I don't care. It proves mindlessly throwing money at a problem doesn't work.
True. They aren't anymore "quality" than anyone else. The fact is that business executives are just a class of "corporate lords" that pass on connections, board positions, and opportunities to one another and to their sons, daughters, and other relatives. It is an inbred situation, and they get huge salaries & bonuses regardless of the performance of their companies.Mekstizzle wrote:
Quality folks eh? Somehow I think the people responsible for the biggest loss in corporate history aren't "quality folk" but ok, quality folk they are.Pug wrote:
However, to retain quality folks working for you, you have to pay them.
Heh, he... Obama and the Oconomy? Yea, he's done such a bang up job so far.Spearhead wrote:
What? The economy's supposed to be fixed by now? Oh christDBBrinson1 wrote:
I don't care. It proves mindlessly throwing money at a problem doesn't work.
I stood in line for four hours. They better give me a Wal-Mart gift card, or something. - Rodney Booker, Job Fair attendee.
Small hourglass island
Always raining and foggy
Use an umbrella
Always raining and foggy
Use an umbrella
Ain't gonna happen. There was little to no oversight.FatherTed wrote:
Well Obama is...
I stood in line for four hours. They better give me a Wal-Mart gift card, or something. - Rodney Booker, Job Fair attendee.
No, I am not. Congress gave the money away to AIG with no strings attached. It is no surprise that AIG payed their CEOs and Execs performance bonuses that are clearly in their contracts. And the bonuses where what, $165 Million out of the $173 Billion of the bailout? What I am pissed about is the $93 Billion out of the $173 Billion, over half of the bailout, went to Goldman Sachs and European banks.
Agreed. Similar thing happened over here with a big banker, nothing happened in the end.DBBrinson1 wrote:
Ain't gonna happen. There was little to no oversight.FatherTed wrote:
Well Obama is...
Small hourglass island
Always raining and foggy
Use an umbrella
Always raining and foggy
Use an umbrella
Did the bank make it?FatherTed wrote:
Agreed. Similar thing happened over here with a big banker, nothing happened in the end.DBBrinson1 wrote:
Ain't gonna happen. There was little to no oversight.FatherTed wrote:
Well Obama is...
I stood in line for four hours. They better give me a Wal-Mart gift card, or something. - Rodney Booker, Job Fair attendee.
I'll try and pull up the article on BBC, give me a minDBBrinson1 wrote:
Did the bank make it?FatherTed wrote:
Agreed. Similar thing happened over here with a big banker, nothing happened in the end.DBBrinson1 wrote:
Ain't gonna happen. There was little to no oversight.
edit
There ya go
http://news.bbc.co.uk/1/hi/uk_politics/7912651.stm
Last edited by FatherTed (2009-03-16 14:19:20)
Small hourglass island
Always raining and foggy
Use an umbrella
Always raining and foggy
Use an umbrella
Gotta love this bull. Kinda reminds me of how Congress gets automatic pay raises and they say they can't do anything about it. Just remember to forget the fact that Congress gets to set their own pay.
So much hypocrisy from the pres and govt... They gave out the money with no strings... Now these companies are paying out contractually obligated bonuses... and the American people are pissed... rightfully so to a degree (we need to pay on performance... you suck..no money... you kick ass... as much money as the market will bear....) Now all the sudden BO and Bawney Fwank and Peloser and co are outraged at these bonuses... news flash idiots... you gave them the money with no conditions...
If i had a 100k dollars and you needed 50k... I sure as shit would have many conditions and ways to protect the 50k i gave you...
and is anyone outraged by the retirement money govt workers get when they retire? A train conductor in New Your City gets 120k a year for life
after he retires... thank you tax payers...
http://articles.latimes.com/2008/jun/02/local/me-cap2
Taxpayers working in private enterprise shell out for generous government retirement packages that far exceed anything they themselves are entitled to. Private companies have reduced or even eliminated traditional retirement payouts in recent years, while politicians have sweetened benefits for government retirees.
"The public employee unions have pushed the increased retirement benefits," notes former Republican Assemblyman Keith Richman of Northridge. "The politicians who have agreed to these higher benefits are being elected and reelected by the support of the public employee unions."
If i had a 100k dollars and you needed 50k... I sure as shit would have many conditions and ways to protect the 50k i gave you...
and is anyone outraged by the retirement money govt workers get when they retire? A train conductor in New Your City gets 120k a year for life
after he retires... thank you tax payers...
http://articles.latimes.com/2008/jun/02/local/me-cap2
Taxpayers working in private enterprise shell out for generous government retirement packages that far exceed anything they themselves are entitled to. Private companies have reduced or even eliminated traditional retirement payouts in recent years, while politicians have sweetened benefits for government retirees.
"The public employee unions have pushed the increased retirement benefits," notes former Republican Assemblyman Keith Richman of Northridge. "The politicians who have agreed to these higher benefits are being elected and reelected by the support of the public employee unions."
Love is the answer
Outraged, yes.
That the govt allows this.
That shareholders are so castrated they can do nothing.
That some peoples' greed outweighs their sense of shame.
(Think its about time to pen my 'Corporatism has screwed us' rant)
That the govt allows this.
That shareholders are so castrated they can do nothing.
That some peoples' greed outweighs their sense of shame.
(Think its about time to pen my 'Corporatism has screwed us' rant)
Last edited by Dilbert_X (2009-03-17 00:33:52)
Fuck Israel
Dilbert_X wrote:
Outraged, yes.
That the govt allows this.
That shareholders are so castrated they can do nothing.
That some peoples' greed outweighs their sense of shame.
(Think its about time to pen my 'Corporatism has screwed us' rant)