Monday, March 16, 2009

Try harder

Democrats are claiming that there's not much they can do about the AIG bonuses, which are tantamount to theft. Bullshit. They need to try harder, and Ch. 7 is an option with the appointment of a trustee.

In every other circumstance, employees are the last people to be taken care of by a bankrupt corporation. Usually, that's unjust. In this case, though, the very same people who are still profiting wildly are the people who made and managed the stupid investments that brough AIG to bankruptcy and bailout. Instead of ruin and a return to the middle class of people who have to work, they're still somehow entitled to $165 million.

By the way, if you were still dense enough to think that executive compensation is about results, these bonuses and all the bonuses that Wall Street is still milking out of illiquid companies prove once and for all that that is bullshit. Executive compensation plans are a huge case of mutual masturbation with no connection to real performance. The mess is all over us, and that pisses me off.


Anonymous said...

HA, you libs crack me up. It was YOUR bill that stated that contractual obligations were to be kept for these institutions! YOUR GUYS added that in specifically! Then, as typical left wingers you are, you bitch about it after the fact. You guys own 80% of the company, put in YOUR own CEO for AIG, then have the balls to come out and bitch about it after the fact. We are played for suckers, left and right, and its only getting worse.

lovable liberal said...

When I'm Senator LL, then you can take this dipshit tone with me. Right now, I'm a liberal, and you conservatives agree with the Obama administration (Geithner and Summers) that these contracts are inviolate. Other liberals (Glenn Greenwald and Jane Hamsher, to name two) are also pissed that Obama's oversight is only a little better than Duhbya's in this area.

Oh, and Henry Paulson chose Edward Liddy, so your other so-called facts are probably questionable, too.

Who's playing you for a sucker, now? Rush?