Official: AIG bonuses bigger than believed

[IDemo]

Source: Associated Press

breaking news
updated 3 minutes ago

NEW HAVEN, Connecticut - Connecticut's attorney general says documents turned over to his office by American International Group Inc. shows the company paid out $218 million in bonuses, higher than the $165 million previously disclosed.

Attorney General Richard Blumenthal's office received the documents late Friday after issuing a subpoena.

Blumenthal says the documents show that 73 people received at least $1 million apiece, and five of those got bonuses of more than $4 million. The financially ailing insurance giant has been under fire for giving bonuses after receiving more than $182.5 billion in federal bailout money.

AIG spokesman Mark Herr declined to comment Saturday.

Read more: http://www.msnbc.msn.com/id/29812224/

[avaistheone1]

1. Is AIG out of their ever loving minds?

This is financial terrorism. No wonder the government is worried about people rioting.

[OVERPAID01]

10. Why are our tax dollars funding this?

I am a accountant, this whole "bailout" is a sham. Our government has given AIG 185 Billion (with another 30 Billion on the way), for what...To break up the company and sell it off so we the tax payers might be able to get some of the money back. If the company goes bankrupt, a judge will break up the company and sell it off any way...and we the tax payers won't be at risk. Not to mention that the judge will do so immediately instead of waiting 6 months and giving them bonuses and asking them politely "what is taking you so long".

[saigon68]

2. Greasy Pigs swilling at the public Trough

[rocktivity]

3. Way to rack up those sympathy points, AIG!

:rofl:
rocktivity

[acmavm]

4. What's left to say?

[avaistheone1]

5. It is clear that AIG has made every effort possible to defraud the taxpayers and the government.

To hell with honoring their contracts. AIG knows nothing about honor.

F'em!

[TankLV]

6. gee - stealing AND lying, too, at the same time - who'd a thunk...?!!!

[shraby]

7. Is Liddy in trouble with his testimony to Congress?

[xiamiam]

9. hope so...but then...what have any of the hearings..including halliburton..war profiteering etc

accomplished?...what? other than to infuriate us..

[IDemo]

11. There will be a very sternly worded note sent home to his mother n/t

[xchrom]

8. recommend

[BumRushDaShow]

12. Lies, lies, and more lies.

As the world turns...

I never thought I'd really see the day. But then again, the citizens took to the streets to protest a lack of civil rights and a plethora of unjust wars. Now there's an almost universal reason to hit the streets again and this time it looks like it might get ugly... :scared:

[global1]

13. It's Time For A Class Action Suit Against AIG On Behalf Of The American People......

I've said this before - if our government won't do anything about this and they keep giving our tax money away to bailout these criminals - then it's time to take matters in our own hands. I'm not advocating - torches, pitchforks, tar and feathers - I'm saying we should do this the proper way. We need to get a law firm to file a 'class action suit' on behalf of all the American Taxpayers and proceed through the courts.

Such a filing would get this out in front of all American's - the MSM would have to cover this - it's too big an opportunity to not cover.

Certainly - there is enough corruption, fraud, abuse and criminality to go around - and maybe it would make some of these criminals think twice about what they are doing to us and our country. Start with AIG - then go down the line to all those other firms that aided and abetted.

A 'class action lawsuit'might also embarrass our lawmakers in Congress to do something - because they know that we are incensed to the breaking point - and it illustrates to them that we have lost all confidence in their abilities to do anything constructive other than continue to loot our treasury and throw our tax money to these firms to get us out of this mess. If they are at all interested in whether or not they will be re-elected the next time they are up - then it would be in there best interest to get behind us and do something.

I know some of you will say - you can't sue 'city hall'. I'm not advocating suing our government. I'm advocating suing these financial institutions that have brought us to the brink. If maybe they are hauled in front of a judge/jury - they might begin talking and call out those that got into this mess in the first place.

I guess if this doesn't work - then it's time for the torches, pitchforks, tar and feathers.

[norepubsin08]

16. Let's start a thread to see who would like to be a part of that class

I'm not an attorney but did go to law school...just having all these people in a class and each represented by an attorney willing to do would clog this case up so long, that it would cost the govt piles of money...maybe that would speak to them...

[sendero]

31. AIG is now 80% owned by the US ...

... government, so good luck with that.

[AlbertCat]

14. What else is new?

I'm sorry, but we already know who AIG is.

It's getting to the point where I'm saying to myself: "Yeah yeah....AIG. What ELSE is going on that we're missing because we're still gawking at AIG?"

[Jefferson23]

15. This just gets more bizarre by the hour, investigations going on at the same

time bail outs are given and these schmucks are allowed to remain as employees!! This whole thing stinks to high heaven.

[kaygore]

17. Can we say, "Clawback!"

[4lbs]

18. This is no shock. The original ~$50 million in bonuses were known 5 or 6 months ago.

Add that to the $165 million revealed last weekend, and that gives you the $218 million total.

[primavera]

19. You know, on second thought, what are we complaining for?

In a way, AIG is doing the country a huge favor: they are boastfully broadcasting to the entire world just how shameless, remorseless, and sociopathic a bunch of greedy, bloodsucking, parasitic assholes the corporate world really is. They are consequently doing more harm to the public image of the corporatist system that created these shits than anything progressives could ever hope to achieve. When you consider the trillions that corporations have stolen from people in this country and around the world, a few hundred million lost to bonuses in order to expose their criminal nature is a bargain price. Maybe we should be rejoicing as corporate executrites use public funds to buy themselves solid gold lear jets and brag about it on national television, as maybe that will be the straw that finally breaks the camel's back and causes the American people to reevaluate their greed is good culture.

[valerief]

20. Why aren't Phil Gramm and Alan Greenspan in prison? nt

[Name removed]

21. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Kindigger]

22. LinkedIn

I decided to go browsing profiles. There's a new hire from last month. What exactly is a 'Vice President of Catastrophe Underwriting'?

:rofl:

Now this is just plain weird. I thought they said they had to keep the same screw-ups in order to fix their screw-ups? Why are all these new people hired within the past two months?

Chief Risk Officer,Senior Restructuring Officer (as well as the a@@hole above).

[caseymoz]

23. Enough of this bullshit !! AIG should be abolished: regulators have that power.

They need to close it down, liquidate its assets, and sue the management and the so-called counter-parties to get our money back. Never mind this "too big to fail" bullshit. It's actually too big to support, and too corrupt to live. Taking it down will help cleanse our system, and send a message to the rest of the companies the government is saving.

As it is, it serves no function and runs up our deficit dangerously.

[truth2power]

25. Regulators?? Never heard of that. What are those? n/t

[geckosfeet]

27. Belatedly agreed. Closing them down may cause a ripple, but we can

cut out this very very fat and gluttonous middle man and deal with it directly.

[AllyCat]

24. Ailing Insurance Giant...play on words?

And what really makes this awful is that this is the company that got caught/held out to be a scapegoat. What about all the other ones that have escaped public notice right now?

But lets not help the workers! That's freakin' socialism and we all now how bad that is...:sarcasm:

Good grief.

[geckosfeet]

26. Ouch. That is going to leave mark.

[april]

28. What the hell ! We just need to say NO MORE!! For the people my ass/just Corp America

[DailyGrind51]

29. If a terrorist had planted a bomb under a building, would we offer him a bonus to disarm it?

Charge these so-called financial geniuses with economic sabotage and threaten them with prison terms and worse if they don't unravel these "complex" investment schemes.

[marshall]

30. When are we going to reach the bottom of this?

It's like water torture.

But I'm still waiting patiently for Geitner and Dodd to explain what they were doing when they protected these bonuses that are causing such an uproar.

CNN and Fox are wearing this out, meanwhile MSNBC is running some kind of candid camera show.