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AIG execs threaten to quit if pay is cut -- - 12/8/2009 1:04:38 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		In my opinion, they all should have been fired a long time ago for stupidity and incompetence. In addition, there is no doubt in my mind they are all significantly overpaid. The truth is, without taxpayer money this company will be bankrupt and the world economy would be in a major depression. We need transparency and appropriate regulation of this industry in the future and I say cut their pay and Let Them All Quit!!! And if they don’t like it they can lump it!

AIG execs threaten to quit if pay is cut --

Government compensation czar Kenneth Feinberg may not be able to rein in salaries as much as he wants, thanks to threats by five high-ranking executives at AIG to quit if they are told they have to take a significant pay cut. On Dec. 1, the five executives, including general counsel Anastasia Kelly and heads of some of AIG's (AIG) largest divisions, handed in their provisional resignations.

http://www.dailyfinance.com/2009/12/07/aig-execs-threaten-to-quit-if-pay-is-cut/
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 1:06:38 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		Buh Bye

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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 1:08:28 PM   
CallaFirestormBW


Posts: 3651
Joined: 6/29/2008
Status: offline 		*waves, with my foot poised to give them a gentle 'assist' out the door* ... and don't let it hit you where the design techs split you on your way out.

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(in reply to mnottertail)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 1:18:33 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		damn welfare queens.

(in reply to CallaFirestormBW)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 1:20:16 PM   
Mercnbeth


Posts: 11766
Status: offline 		Let's not forget to also fire AIG's current Board of Directors, who authorized their bail out which funded last year's bonuses and salary - those setting policy and continuing to make similar decisions in both Houses of Congress.

quote:

The truth is, without taxpayer money this company will be bankrupt and the world economy would be in a major depression.


The "truth is" without Congress funding this failure - AIG would be broken up and the issue of compensating executives over a threat of resignation wouldn't be up for discussion.

You're anger is misplaced.

(in reply to CallaFirestormBW)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 1:28:29 PM   
AnimusRex


Posts: 2165
Joined: 5/13/2006
Status: offline 		At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
Too Big to Fail means Too Big to Exist.

(in reply to Mercnbeth)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 2:27:16 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
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quote:

ORIGINAL: AnimusRex

At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
Too Big to Fail means Too Big to Exist.


Since there is no such thing as "too big to fail", thats irrelevant.

(in reply to AnimusRex)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 2:44:06 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		From your lips to gods ears willbeur.....all well and good that you personally reject the notion....but in the real world it was just this proposition used to justify the bail-outs in the first place.
So you coming here and deciding "there is no such thing" is just so much bullshit.....in other words a standard post for you!

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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 3:53:59 PM   
AnimusRex


Posts: 2165
Joined: 5/13/2006
Status: offline
quote:

ORIGINAL: AnimusRex

At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
So Big It Will Cause Massive Economic Damage If Allowed To Fail means Too Big to Exist.



Fixed

(in reply to AnimusRex)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 3:59:01 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		Animus there was nothing wrong with the post as first submitted......willbeur's decision that the category does not exist is just more posturing on his part.No need for the rest of us to comply with his fantasies.

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If we want things to stay as they are,things will have to change...Tancredi from "the Leopard"

Forget Guns-----Ban the pools

Funny stuff....https://www.youtube.com/watch?v=eNwFf991d-4


(in reply to AnimusRex)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 5:06:10 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
quote:

ORIGINAL: AnimusRex


quote:

ORIGINAL: AnimusRex

At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
So Big It Will Cause Massive Economic Damage If Allowed To Fail means Too Big to Exist.



Fixed


The fix is as wrong as the original.

(in reply to AnimusRex)
Profile   Post #: 11
RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 5:31:29 PM   
AnimusRex


Posts: 2165
Joined: 5/13/2006
Status: offline
quote:

ORIGINAL: willbeurdaddy
quote:

ORIGINAL: AnimusRex
At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
So Big It Will Cause Massive Economic Damage If Allowed To Fail means Too Big to Exist.

The fix is as wrong as the original.


Care to explain?
No, really I am curious as to your take on it.
Should they have been bailed out?
If not, do you think it would have been a systemic collapse, as most experts predicted?
Is there such as thing as a entity so big the government is entitled to break it up?


(in reply to willbeurdaddy)
Profile   Post #: 12
RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 5:44:51 PM   
DarkSteven


Posts: 28072
Joined: 5/2/2008
Status: offline 		FFS, simply haul those whining executives in front of Congress to justify their bonuses.

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(in reply to AnimusRex)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 6:22:05 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		welfare queens!!!

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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 6:44:35 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
quote:

ORIGINAL: AnimusRex


quote:

ORIGINAL: willbeurdaddy
quote:

ORIGINAL: AnimusRex
At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
So Big It Will Cause Massive Economic Damage If Allowed To Fail means Too Big to Exist.

The fix is as wrong as the original.


Care to explain?
No, really I am curious as to your take on it.
Should they have been bailed out?
If not, do you think it would have been a systemic collapse, as most experts predicted?
Is there such as thing as a entity so big the government is entitled to break it up?




No, there should have been no bailouts and no there would have been no systemic collapse. I disagree that "most experts" even predicted that. Most of the experts you see on TV and read about in the print media, maybe, but not most economists and businessmen overall, it was pretty much evenly divided. And no, there is no entity so big the government is entitled to break it up. Size should have nothing to do with government involvement, because there is a reason companies get big..they are good at what it is they do. Again, government should only be involved when there is a common good with a significant free rider problem (which includes negative externalities and natural monopolies as I use the term "free rider". Essentially any time there is a difference between the social cost and the market cost some entity is free riding ).

(in reply to AnimusRex)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 6:57:45 PM   
Lucylastic


Posts: 40310
Status: offline 		Fast reply
My heart pumps purple piss for the poor darlings, not one of them will suffer, if there was any hardship to them personally, they wouldnt threaten.



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(in reply to willbeurdaddy)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 8:32:22 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline
quote:

ORIGINAL: willbeurdaddy


quote:

ORIGINAL: AnimusRex


quote:

ORIGINAL: willbeurdaddy
quote:

ORIGINAL: AnimusRex
At some point, Congress is going to have to break up the banks like Goldman Sachs and Citibank, as well as AIG, to prevent this kind of mostronsity from happening again.
So Big It Will Cause Massive Economic Damage If Allowed To Fail means Too Big to Exist.

The fix is as wrong as the original.


Care to explain?
No, really I am curious as to your take on it.
Should they have been bailed out?
If not, do you think it would have been a systemic collapse, as most experts predicted?
Is there such as thing as a entity so big the government is entitled to break it up?




No, there should have been no bailouts and no there would have been no systemic collapse. I disagree that "most experts" even predicted that. Most of the experts you see on TV and read about in the print media, maybe, but not most economists and businessmen overall, it was pretty much evenly divided. And no, there is no entity so big the government is entitled to break it up. Size should have nothing to do with government involvement, because there is a reason companies get big..they are good at what it is they do. Again, government should only be involved when there is a common good with a significant free rider problem (which includes negative externalities and natural monopolies as I use the term "free rider". Essentially any time there is a difference between the social cost and the market cost some entity is free riding ).


Again, Ma Bell comes to mind.

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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 8:42:32 PM   
shanlone


Posts: 2
Joined: 12/3/2006
Status: offline 		There should not have been any bailout. AIG refused to pay on thousands of insurance claims from men and women like me that got injured serving in Iraq and then got big bonuses and a paradise week-end with bailout money for screwing all of us. This is the Bush legacy. That fomer drunk moron ran into the ground every company he ever worked for. Thats a fact. Then he ran America into the ground with his buddy Dick Cheney and left all of us smucks holding the bag.

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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 8:51:57 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: Mercnbeth

The "truth is" without Congress funding this failure - AIG would be broken up and the issue of compensating executives over a threat of resignation wouldn't be up for discussion.

You're anger is misplaced.


AIG And The Trouble With 'Credit Default Swaps' : NPR

As AIG Goes, So Goes The Global Economy?

Why would a company as large as AIG gamble its future on a new twist in the financial system? The lure of money may have been too strong, Davidson said. The CDS market has grown into a $70 trillion annual business. Davidson likens the situation to AIG saying, "Hey, we know insurance better than anyone. We're going to get into that business."

The pure size of the CDS business is enough to make a failure of AIG a threat to the entire global economy. What's more, the CDS market is far from transparent. "Nobody knows exactly who has them and where they got them from," Davidson said.

The fear is that AIG has insurance banks all over the world for trillions of dollars that would suddenly be at risk. If AIG collapsed, banks would stop lending money to each other.

"If that stops, global economic activity stops," he said. "We don't know that that would have happened, but it seemed like a real possibility. And that was why the government stepped in."

(in reply to Mercnbeth)
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RE: AIG execs threaten to quit if pay is cut -- - 12/8/2009 9:00:16 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: willbeurdaddy

Size should have nothing to do with government involvement, because there is a reason companies get big..they are good at what it is they do.


If they were "good at what it is they do" then why did they need a government bailout?

(in reply to willbeurdaddy)
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