AIG Executive Resigns

[Cutlass]

No, it is THEIR MONEY, and they have clearly EARNED IT.

Dear AIG: We <3 you!

http://www.washingtonpost.com/wp-dyn/content/article/2009/04/12/AR2009041202703.html?hpid=topnews

Fine. If you think they earned it, have AIG return 100% of the money they got from the government and pay the bonuses out of what they have left over.

What you are refusing to understand is that without government money there is absolutely no way those people get their bonus. AIG may "owe" the bonus, but AIG is incapable of paying the bonus. That is not the government's fault. That is AIG's fault. If AIG wants to pay bonuses, then AIG can pay the bonuses with AIG's money. Since the bailout money is the government's money, the government has every right to determine what it will be spent on.

 

[JollyRoger]

Guess the teacher forgot to have the kids imagine they were an AIG exec out of work and bonus without the government bailout.

 

[Formaldehyde]

Fine. If you think they earned it, have AIG return 100% of the money they got from the government and pay the bonuses out of what they have left over.

How does "no" sound? Does that work for you?

What you are refusing to understand is that without government money there is absolutely no way those people get their bonus.

"What you are refusing to understand is that" people should get paid for their efforts while at work, regardless of what else happened in their gigantic corporations.

"What you are refusing to understand is that" this individual has already saved the taxpayers millions, if not billions, of dollars by performing his duties when he probably should have quit long ago.

 

[JollyRoger]

"What you are refusing to understand is that" people should get paid for their efforts while at work, regardless of what else happened in their gigantic corporations.

They did get paid. The bonus would be payment on top of salary. I am strill shocked that they get to be welfare queens without having to be periodically drug tested in order to stay on the dole.

 

[Neomega]

"What you are refusing to understand is that" this individual has already saved the taxpayers millions, if not billions, of dollars by performing his duties when he probably should have quit long ago.

hey, big negative numbers dont count. Giant banking and insurance companies are large cesspools of middle management and bureaucratic waste, not efficiency. They are bulk drains on the American economy... a parasite class.

 

[Formaldehyde]

They did get paid. The bonus would be payment on top of salary.

Obviously, you didn't read the article in the initial post.

I take this action after 11 years of dedicated, honorable service to A.I.G. I can no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so. Like you, I was asked to work for an annual salary of $1, and I agreed out of a sense of duty to the company and to the public officials who have come to its aid. Having now been let down by both, I can no longer justify spending 10, 12, 14 hours a day away from my family for the benefit of those who have let me down.

 

[JollyRoger]

After 11 years of being overbonused, he agreed to work for a $1? Why is he complaining about not being paid more than a dollar then, since that is what he agreed to? Sense of duty sure gave way to sense of entitlement pretty quick.

 

[Formaldehyde]

Read the article. Then share your preconceived notions about it.

 

[JollyRoger]

Read the article. Then share your preconceived notions about it.

I've read the part you quoted me which seems pretty crybaby to me. If he agreed to work for a dollar, why cry when he doesn't get more? The part you bolded speaks of an agreement and a sense of duty. Any whining about not getting a bonus makes that bolded line pure bs.

 

[Cutlass]

Screw the guy. I bet there are at least 50,000 people better than him in New York alone that would be happy to work for less

 

[JollyRoger]

Still not resigned . . .

From today's Wall Street Journal:

Overall, Mr. Pasciucco said, about a third of the resignations were from the financial-products office in London. He said that Jake DeSantis, an executive who announced his resignation in a New York Times op-ed piece amid the controversy, is still on the job short term as the commodity business he works on is resolved. AIG didn't make him available for comment.

http://firedoglake.com/2009/04/13/late-night-one-minute-youre-up-half-a-million-in-soybeans-and-the-next/