More On Aig ...

Although i'm definetly not pleased with AIG's actions there were contracts in place to pay the bonuses. Another contract, even by Congress, can't negate that previous contract. That could destroy contract law in general. Possibly your employment contract.

Why shouldn't all of Congress and all others in government who got AIG money as political donations give it back to AIG? Or, better yet ... donate all of it it to the payment of the National Debt?

 

~~~~~~~~~~~~~~~~~~

From: http://www.opensecrets.org/news/2009/03/before-the-fall-aig-payouts-we.html

[Snip] Over time, AIG hasn't shown an especially partisan streak, splitting evenly the $9.3 million it has contributed since 1989. In the last election cycle, though, 68 percent of contributions associated with the company went to Democrats. Two senators who chair committees charged with overseeing AIG and the insurance industry, Sen. Chris Dodd (D-Conn.) and Sen. Max Baucus (D-Mont.), are among the top recipients of AIG contributions. Baucus chairs the Senate Finance Committee and has collected more money from AIG in his congressional career than from any other company--$91,000. And with more than $280,000, AIG has been the fourth largest contributor to Dodd, who chairs the Senate's banking committee. President Obama and his rival in last year's election, Sen. John McCain (R-Ariz.), are also high on the list of top recipients. [Snip]

 

Top 20 (of 7 pages) at http://www.opensecrets.org/orgs/recips.php?id=D000000123&type=P&state=&sort=A&cycle=A

 

American International Group: All Recipients Name Total Contributions Dodd, Chris (D-Conn) $280,238 Bush, George W (R-Texas) $200,560 Schumer, Charles E (D-NY) $111,875 Obama, Barack (D-Ill) $107,332 McCain, John (R-Ariz) $99,249 Baucus, Max (D-Mont) $90,000 Kerry, John (D-Mass) $85,000 Johnson, Nancy L (R-Conn) $75,400 Sununu, John E (R-NH) $69,049 Clinton, Hillary (D-NY) $59,515 Lieberman, Joe (I-Conn) $57,900 Rangel, Charles B (D-NY) $53,582 Giuliani, Rudolph W (R-NY) $50,250 Lazio, Rick A (R-NY) $48,600 Ensign, John (R-Nev) $44,569 Bayh, Evan (D-Ind) $43,700 Larson, John B (D-Conn) $43,000 Biden, Joseph R Jr (D-Del) $41,350 Baker, Richard (R-La) $41,032 Torricelli, Robert G (D-NJ) $39,000   Among Federal Candidates, 1989-2008

Total:

$4,362,625

Source of Funds: mouseover="Tip('To Indivs:<br> $2,538,928')" src="http://www.opensecrets.org/include/img/green.gif" alt="" />mouseover="Tip('To PACs:<br> $1,823,697')" src="http://www.opensecrets.org/include/img/green_lt.gif" alt="" /> Individuals PACs Party Split: mouseover="Tip('To Dems:<br> $2,228,464')" src="http://www.opensecrets.org/include/img/blue.gif" alt="" />mouseover="Tip('To Repubs:<br> $2,117,561')" src="http://www.opensecrets.org/include/img/red.gif" alt="" /> Dems   Repubs

~~~~~~~~~~~~~~~

Rep. Dan Burton calls on Pres. Obama & Sen. Dodd to give back campaign donations received from AIG

http://www.austinhill.net/cm/media/congressman%20dan%20burton%20goes%20on%20record.mp3

Austin Hill, a conservative radio talk show host, is subbing this week for Chris Plante on 630 WMAL in Washington, DC. Austin had Rep. Dan Burton on his show this morning, Wed., March 18th. Audiofile attached (linked above). (i realize some will not listen because of that.)

 

Josie06 Josie06
56-60, F
6 Responses Mar 18, 2009

grits, i agree.<br />
<br />
Slight of hand ... has been working for at least, ah 60 days now.

The AIG bonus were announced back in November. Congress Knew about them and so did the white house. The stimulus bill had a clause to protect the bonuses so that they could be paid out. This is all a big mind game with congress and the white house to make it look like they are wanting to do something for the people. It is just another way to get Americans to look at something else other than the things Obama and congress are doing behind closed doors.

Two faced government ....<br />
<br />
<br />
Fannie and Freddie announced today that like AIG, it will award retention bonuses to some execs. <br />
<br />
AP | http://www.app.com/article/20090318/BUSINESS/90318106<br />
<br />
<br />
Two he two GSEs (government sponsored enterprise) ...<br />
<br />
Guess some animals are more equal than others.

THIS JUST IN ...<br />
<br />
~~~~~~~<br />
http://www.connpost.com/breakingnews/ci_11941706<br />
<br />
Dodd to give back AIG contributions<br />
By MariAn Gail Brown<br />
STAFF WRITER<br />
Updated: 03/18/2009 03:26:55 PM EDT<br />
<br />
When it comes to donating to politicians and filling their coffers, bonus-and-bail-out embattled American International Group Inc.'s Financial Products unit in Wilton has a stimulus record of its own, providing Sen. Christopher Dodd's presidential campaign with more than $103,000 during the 2008 election cycle.<br />
<br />
AIG's contributions to Dodd outpace the financial firm's $101,000 contribution to President Barack Obama's election bid.<br />
<br />
Altogether, AIG executives raised $630,000 during the past election cycle, according to the Center for Responsive Politics, as the company was coming under fire. At least $120,000 of those contributions were made after September when Congress awarded AIG the first $85 billion of its federal bailout money.<br />
<br />
Dodd, pledged to go through his list and give back contributions linked to bailout money.<br />
<br />
AIG has received more than $170 billion in government bailout money.<br />
<br />
"I don't want those contributions," he said, of any that might be tainted by the scandal over the use of taxpayer money to fund bonuses for some top managers.<br />
<br />
AIG came under scrutiny after it was revealed that it paid bonuses of $1 million or more to 73 people in the Wilton-based unit. That unit, based at 50 Danbury Road, reportedly had direct losses of more than $40 billion on derivative securities.<br />
<br />
The bulk of Dodd's AIG money during the just completed campaign season came from about a dozen AIG executives. They include Douglas Poling of Fairfield; Christopher Phole of New Canaan; Steven Pike of Stamford; Robert Powell of Westport; Joseph Rooney of Fairfield; Gregory Ruffa of Darien; Christian Toft of Weston; Steven Wagar of Norwalk; Jonathan Liebergall of New Canaan; Leonid Shekhtman of Redding; and James Haas of Fairfield.<br />
<br />
Three of these executives, Poling, Haas and Liebergall were outed as possible recipients of bonuses by the New York Post today.<br />
<br />
~~~~~<br />
<br />
Now, this begs the question: "How much is related to the bailout?"<br />
<br />
Possibly none ... right.

Congress doesn't want that control. In this instance they want deniability, that why the bailouts were written without any oversight. They even said they'd come back later and write it ... after the evidence is gone.<br />
<br />
These bills were so big, no member of Congress actually read them. Republican and Democrat alike are to bale. It is not confined to a single party.<br />
<br />
Congress want power over the citizens not the people that give them their large cash donations.

It just goes to show that big business can't be trusted and needs more Government control. If more control of the bail out money had been in place, the Republicans would have voted against it because they don't think big business should be controlled.