Socialism at its' finest

WASHINGTON – President Barack Obama declared Monday that insurance giant American International Group is in financial straits because of "recklessness and greed" and said he intends to stop it from paying out millions in executive bonuses.

Ok, I think these execs are greedy pigs as well, but now our own govenment controlling paychecks? Wow! It sounds good in theory, like they are fighting back against corporate greed, but you know the govt never stops at just one.

It will continue and just be bad news for everyone.

The companies should be the ones to decide on paycuts, not a bill signed into law!

WTFFFFFFFFFFFFFFFFFFFFFFFFFFFFF!

AIG received billions in bailout money. It's not just any company. They shouldn't be using this money for executive bonuses.

YAY SOCIALISM

This is not socialism at its finest.

Socialism at its finest would be universal healthcare plus free high quality college education.

Original Post by pgeorgian:

YAY SOCIALISM

I don't understand what's so bad about it, either.

Azirra: That sounds awesome.

The only reason Obama cares is that AIG is paying bonuses with taxpayer dollars, not AIG generated profits. Or at least that is how it appears since AIG took such a large amount of bailout money.

180 billion to AIG from the US Treasury  - 93 billion out to execs overseas for bonuses...yeah...that's not socialism.

AIG is guilty of extortion.

Original Post by jonmin:

AIG received billions in bailout money. It's not just any company. They shouldn't be using this money for executive bonuses.

Post#1 Exactly! That's exactly it/why! :) The fact of the matter is that this is an obvious course of action on the part of Obama. It should be considered a duhh moment not a wtf socialism moment. Seriously. The OP must not have been aware that AIG took bailout money?? o_O

I <3 President Obama.  It's wonderful.  I'd imagine most are pleased that there will be no executive bonuses with our tax dollars. Thank you!

Original Post by pgeorgian:

YAY SOCIALISM

now i feel stupid for being flippant.

no, this is not socialism by any description.  no matter what rush limbaugh and the other conservative nutbars say.

Sounds like your confusing Obamas observation of "recklessness and greed" as the legal basis of efforts to stop the payments.

These bonuses were paid to AIGs economic wizards behind AIGs financial destruction. Contracts, both for the bonuses and for the bailout, will be examined and rexamined. 

It may be determined that the are legally entitled to these funds.  Hopefully it will be decided they arent and that the millions are to be redirected towards AIGs recovery which doesnt entail encouraging the continued employment of these bonus recepients who brought the company to its knees.

The reason that AIG took a large portion of the bailout money is because this company is responsible for the retirement packages for the United States Congress and Senate.  And that is the reason why Obama cares.  The government, including our wonderful president, has a large interest in this company and keeping the exec's happy.  Period...

Original Post by lslisalou:

The reason that AIG took a large portion of the bailout money is because this company is responsible for the retirement packages for the United States Congress and Senate.  And that is the reason why Obama cares.  The government, including our wonderful president, has a large interest in this company and keeping the exec's happy.  Period...

 That is not true.  Check out this link:

http://www.factcheck.org/askfactcheck/did_con gress_bail_out_aig_because_it.html

I get all my facts from e-mail chain letters.

hmmm yummy crunchy facts. 

Seriously thought, my liberal self has a question: how does or can the government  invalidate a legal and binding contract between two private citizens?  I mean they can force AIG to not pay but that opens AIG up to breach of contract claims.  One way or another there is going to be litigation over this-- and that might end up being almost as expensive and just as much of a waste of money. I like the idea but I really don't think that the government can do this-- and that the courts will be bound to agree.  I guess one option would be to say that the government money was only for approved purposes and AIG is going to have to find another way to fulfill their obligations, but really, that is just the same thing cloaked in a different veil.

At least litigation would funnel money to those most likely to spend it ostentatiously....

Woo-hoo!  Universal Health Care!

Wait.  This isn't about universal health care.  This is about the AIG bailout.

*yawn*

Eh, gazillions of dollars going into private hands...you act like this is a new thing.

If you read the statement it says, The "spokesperson for AIG" says it is an unsubstanstiated claim.  What else would the spokesperson for AIG say.  Also, who is fact checking who on that website???

Original Post by lslisalou:

If you read the statement it says, The "spokesperson for AIG" says it is an unsubstanstiated claim.  What else would the spokesperson for AIG say.  Also, who is fact checking who on that website???

Um, if you read the whole thing, it's a pretty clear hoax.

Enjoy your chain e-mails.

Original Post by lslisalou:

If you read the statement it says, The "spokesperson for AIG" says it is an unsubstanstiated claim.  What else would the spokesperson for AIG say.  Also, who is fact checking who on that website???

There's a button on the top that says, clearly "About Us". Click it.

Or don't. Clearly when a couple AIG people say it's not true and there's documentation to show it was the Fed that did the job (with gritty details included), that the chain email is the right source of information to go by.

Equally clearly, my penis is too small, because I constantly get email telling me I need to make it bigger to please my girlfriend/wife. I can't wait for my pills to arrive so I can have a rock hard **** the size of my arm, as promised by the all-powerful email gods.

I see no flaw in my plan.

hatamoto,

will you be my crunchy facts?

love, and believing you have purchased said enhancement products,

drea

To hatomoto

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