When we bailed out AIG at. al., were there absolutely no strings attached?

[RiverStone]

We keep hearing how millions of dollars in bonuses were paid out because there was no oversight or preconditions set regarding how the companies were to use our tax financed bailout money.

Were both parties on The Hill so asleep at the wheel that we rushed to give AIG the money without EVER CONSIDERING WTF they would spend it on?

This reminds me of a parent giving a 15 year old teenager keys to the family car for the weekend and $200 spending money without asking if he has a license, gas, a destination, or even if he has a clue how to drive or knows what he will spend the money on!

My question is who was so damn stupid as to bailout these greedy fucks without imposing ANY rules on how they spent our money? How could both Dems and pukes be so damn naive (or lazy)?
:shrug: :mad:

[MNDemNY]

1. Well, is an majority equity stake a string?

[Why Syzygy]

2. The string was that AMERICA would be saved from

falling over the cliff by giving them money. Martial law was threatened to our House members.

That was the string. To save OURSELVES!!!

btw . I read that the bonuses are contractual, and EVERYONE claims there is no getting out of them.

[RiverStone]

3. Even so, there was no fine print???

Even buying into the overall argument that this prevented a financial collapse, I still can't fathom how we could give AIG this money with ZERO conditions on how they spent it and/or ramifications if they abused what they got --- which they did!

The greed and arrogance and stupidity is only match by the lack of accountability.

[supernova]

4. I would expect no strings attached

The * Admin specialized in bulk $$$ givaways.

This is the same clusterfuck team that sent PALLETS of mullah over to Baghdad that they never could account for either. Ditto FEMA for Katrina relief.

Bad Accounting Skillz, they haz 'em.

[Why Syzygy]

5. It hasn't been made clear yet

HOW this saved us from "financial collapse" either. People are still losing their jobs and homes.

[old mark]

7. AIG sent billions of the bailout money to banks in Europe.

Now US taxpayers are just finding out billions of dollars of their money was used to bail out AIG's affiliates in France and elsewhere thanks to the Bush regime. And no one was supposed to know about that...

Think anyone will be pissed?

mark

[Winterblues]

6. But those same people claim it is easy to get out of the contracts

the auto workers entered into.. Imagine that???

[Why Syzygy]

8. This is really the first time

in a very long time that I've noticed public outrage producing some results.

The hot seat is getting even hotter for AIG Chairman and CEO Edward Liddy. Not only has President Barack Obama called on his Treasury Secretary to do everything possible to block the bailed-out insurance company from doling out $165 million in bonuses, but now the New York Attorney General has set a deadline of 4pm Monday for Liddy to release the names and job descriptions of those receiving bonuses stating that if the information is not received this afternoon that he will seek a subpoena to force compliance.
http://www.abcnews.go.com/Blotter/story?id=7093689&page=1

It's got to be just the beginning. They have to change the rules so that these people can't continue the paper scams which produced this bamboozle.

[harun]

9. The gov't serves the Corporations, what do you expect?