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Auto bailout fails. What a mess.
pandagon.net - we are the public option —
... And it doesn’t help that the first bailout for the banks and AIG looks like a boondoggle because of such pitiful oversight to suss out waste and corruption. AIG took your taxpayer dollars and decided to use it to pay bonuses (renamed “retention payments") to keep some of the same executives who ran it into the ground on the payroll. ...
Bridge Loan Goes Down In The Senate — What Happens Now?
Firedoglake —
... Meanwhile, AIG just told 168 of its top employees they will receive "retention bonuses" of between $96,000 and $4 million this year. ...
What If Instead of GM, We Started Calling Them Terri Schiavo Motorworks?
Balloon Juice —
... the U.S. military earlier this month.
The U.S. military, which calls the movement the Sons of Iraq, had been paying members $300 a month to carry guns and protect their neighborhoods against Al Qaeda.
Starting this month, Awakening members will be paid 300,000 Iraqi dinars, or about $250 a month, according to government spokesman Tahseen al-Sheikhly. Awakening leaders, who had been earning $400 to $600, will also receive the lower salary.
And these guys:
Insurance giant AIG was given $152 billion in ...
Red State Senators Give Black Auto Workers Pink Slips While White Collar AIG Execs Get the Gold
Firedoglake —
... Meanwhile, AIG is going to pay 168 of its top employees "retention bonuses" of between $96,000 and $4 million this year, yet there were no impassioned speeches by Richard Shelby in the Senate Press Gallery seething with moral indignation. ...
Working hard or hardly working?
SteveAudio —
After Rescue, Bonuses Still Flow At AIG Insurance giant AIG was given $152 billion in bailout money by the federal government since nearly collapsing in September. Now the company is planning to take millions of that money and hand it over to employees in a program that sounds a lot like bonuses. AIG's new CEO is only taking a single dollar for his compensation this year and the top 60 executives won't be getting bonuses. But that hasn't stopped AIG from finding a creative way to keep some of their top employees in what they're ...
If Not GM, Then AIG, Citigroup, JP Morgan et al
PoliPundit.com —
... or give it to companies like AIG which are creatively paying $4 Million “retention payments.” I have no doubt that many financial executives (friends of Senator Shelby) are drowning their sorrows this afternoon because they were tossed away from the few remaining crumbs in the trough. All those million dollar bonuses that they could have paid. Senator Shelby’s friends in the ...
What’s Wrong With Wall Street? Pt. 1
The Republic of T. —
... Just a week earlier, the government had committed $85 billion to bail out the company. That was in October 2008. By December the government had pumped $152 billion into the company in order to keep it from collapsing. It was also in December that AIG gave millions in bonuses to 168 employees, in the form of “retention payments” $96,000 to $4 million per individual. (New York state attorney general Andrew Cuomo was so outraged he sought to) ...
House Republicans To Force Geithner's Hand on AIG Negotiations
TPM Election Central —
... Liddy's plans to pay out the company's now-infamous bonuses before they became public on Saturday -- and since the bonuses have been common knowledge in the media for months -- it's worth asking how directly Treasury was involved in okaying the payouts. ...
Showdown in Chicago
The Republic of T. —
... What would posess AIG, after being bailed-out to the tune of $85 billion by American taxpayers, to hand out millions in bonuses and spend ...
