obsidianwings.blogs.com - 3/16/2009
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by hilzoy From the WSJ : "American International Group Inc. will pay $450 million in bonuses to employees in its financial products unit. That division was at the heart of AIG's collapse last fall, which compelled the U.S. government to provide $173.3 billion in aid to keep it running. Chief ...
washingtonpost.com - 3/15/2009
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washingtonpost.com —
Comments that include profanity or personal attacks or
other inappropriate comments or material will be removed from...
the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. ...
(more)
Bailout King AIG to Pay Millions in Bonuses
thinkprogress.org - 3/16/2009
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thinkprogress.org —
Over the weekend, the revelation that bailed-out insurance
firm AIG was still doling out hundreds of millions...
in “retention bonuses” sparked bipartisan outrage . On NBC’s Today Show this morning, Rep. Barney Frank (D-MA) called for ...
(more)
Frank on AIG: ‘Maybe it’s time to fire some people.’
Comments
Blog Reactions
AIG: What To Feel Angry About (And Not)
The Daily Dish | By Andrew Sullivan —
... Barry Ritholtz fumes, Henry Blodget makes a fair point, and Free Exchange makes a basic point: I was under the impression that the need to make such payments was among the key factors behind the bail-out. More understandable is anger with the continued payment of large bonuses, some of which have gone to members of the AIG department responsible for the firm's situation. Noam Scheiber, Conor Clarke, and Hilzoy debate the bonuses. And Mike Mandel uses the occasion to advocate for international action ...
The 22nd Book: The Book Of The Dead
JustOneMinute —
... , who nicely captures the current disillusionment accompanying the discovery that he who pays the piper does not, in fact, call the tune: Hilzoy sneaks a peek at the truth of the situation but quickly backs away: Well, well. Who indeed would retain the idiots who "took down" the company? As the letter to Geithner explains, AIG FP is hardly monolithic. They divided their acvtivities into 22 "risk books", each of which must be managed. I strongly suspect that the credit derivatives books only represents one or a few books - corporate, multi-sector, sub-prime, and prime would ...
AIG Bailouts, Bonuses and the BIG LIE
The Discerning Texan —
... Hilzoy sneaks a peek at the truth of the situation but quickly backs away: As far as I can tell from reading this explanation from AIG, and this letter from its CEO to Sec. Geithner, there are two issues. One is contractual: they promised their employees all ...
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Why The AIG Bonuses Were Right
rhymeswithright.mu.nu 3/26/2009 — I've not commented on whether or not those bonuses to AIG executives should have been paid or not. I've heard lots of discussion both ways on the issue. But today's New York Times carries the resignation letter of one of...
They Came for the AIG Bonuses, but I was not an AIG Employee…
proteinwisdom.com 3/21/2009 — Forget for a moment that the legislation to tax back the bonuses from AIG is a Bill of Attainder.
Forget that Bills of Attainder are prohibited by the Constitution. That part is of course easy to forget..Congress gave up on it long ago.
Forget that ...
More Thoughts on the AIG Bonuses
corner.nationalreview.com 3/19/2009 — I usually agree with the guys at Clusterstock, but I think they're wrong about the AIG bonuses -- though at least they've actually thought about the problem for longer than it takes to churn out a press release containing the word "outrageous"
The ...
Some Will Pay Back AIG Bonuses
online.wsj.com 3/19/2009 — Some AIG employees have returned bonuses or intend to do so amid public outrage. Among them was Douglas Poling, who received the richest payment of more than $6.4 million.
Those AIG bonuses
blog.seattletimes.nwsource.com 3/17/2009 — Early on the White House seemed to be saying executives at Astounding Institutional Greed were owed their bonuses totaling $165 million because of contractual obligations. Now in the face of howling public outrage, President Obama says he is ...
A.I.G. bonuses
marginalrevolution.com 3/17/2009 — Outrage, outrage, blah, blah, blah, etc. Often I feel that some topics are too obvious to blog. The real lesson is that this is another reason not to nationalize banks. It means politicizing every decision which ends up in the...
The AIG Bonuses
yglesias.thinkprogress.org 3/16/2009 —
You would think that executives at a company that’s so poorly managed that it requires vast government aid wouldn’t be getting big bonuses but apparently not :
An official in the Obama administration said Saturday that Treasury ...
Obama: Block AIG bonuses
politico.com 3/16/2009 — Obama says he'll “pursue every legal avenue to block these bonuses and make the American taxpayers whole.”
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