Welcome Guest [Log In] [Register]
Posted Image
Welcome to Nexus Trek

We are a message board community filled with members from several different Star Trek
sites. Come talk about Trek, other Sci Fi or whatever interests you!

You are currently viewing our forum as a guest. This means you are limited to certain areas of the board
and cannot join in on the fun. Registering will only take a minute and once approved you can

  • customize your profile
  • Send personal messages
  • Vote in polls
  • Start and post in topics

Registration is simple, fast, and completely free.

Join our community!
If you have any trouble registering please email us @ nexustrek@yahoo.com


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Obama stunned by bonuses given by bailed out AIG
Topic Started: Mar 19 2009, 08:52 PM (1,125 Views)
Heather
No Avatar
Vice Admiral
Quote:
 
BURBANK, Calif. – President Barack Obama told Jay Leno on Thurday that he was stunned when he learned of the bonuses that bailed-out insurance giant AIG was paying its employees.

Obama told "The Tonight Show" host the payments raise moral and ethical problems — and vowed again to try to recoup the cash for taxpayers.

"We're going to do everything we can to get these bonuses back", he declared.

Leno asked Obama what he thought when his staff first advised him of the payments, many made to traders in the very division that brought American International Group to ruin.

"'Stunned' is the word," Obama replied in a taped appearance on "Tonight." He said he found it hard to fathom how anyone would accept lavish payments in those circumstances. "People just had this sense of entitlement. We must be the best and the brightest."

But Obama staunchly defended Treasury Secretary Timothy Geithner, who's increasingly come under fire for failing to block the bonuses.

"I think Geithner is doing an outstanding job," Obama said. "He is a smart guy. He is a calm and steady guy. I don't think people fully appreciate the plate that was handed him."

Obama added Geithner's carrying on "with grace and good humor. He understand that he's on the hot seat."

Too many in Washington are trying to figure out who to blame for things — when they should be focused on fixing them, Obama said.


http://news.yahoo.com/s/ap/obama_leno
Offline
 
wissaboo
Member Avatar
Admiral
the most interesting thing about that article to me is.......




he's telling jay leno :lol:
Posted Image
Offline
 
GCE-1701-D
Member Avatar
aka GalaxyClassUSSEnterpriseNCC1701D But my friends call me Darren
he can't do anything about it... without making us a more government run country and overstepping his bounds that is, obvious AIG never should have been given that money, all they've done with it is throw it around to other banks and other countries, had company retreats, etc... and yet they've gotten 'bail out' money a few times, AFTER the lavish company retreat even, it's done nothing for the economy, or jobs lost in that sector, so it should be chalked up as a horrible idea, and instead of saying how bad the execs that run the company are on Leno Obama should be amitting that the whole bailout thing is shame

honestly I'm getting rather tired of Obama, he thinks he's the male Oprah I guess, he's scheduled ANOTHER TV spot for Tuesday, this time to try to convince us all that his budget is Obamawesome!, seriously, I'm getting tired of this pattern; people get uppity about something he either wants to do, or is supporting, he buys some TV time, and then somehow thinks that giving us a teleprompter speech will cause us to all have warm butterfly fuzzy thoughts and bump up his approval ratings, some times people get pissed at the Prez and don't like his ideas, or things he's supporting etiher directly or indirectly, get used to it Obama, it's how things work

and for the love of God STOP trying to get the Government's hands in EVERYTHING, it's the Government forcing banks to make loans they knew were bad and would never be repayed so that "everyone" could "live the american dream" that got us where we are now in the first place!
stop throwing our money at a raging infurno and let the damn thing burn its self out so we can recover from it, I'm perfectly fine with those sleezy scum bags getting giant bonuses, they don't deserve it, and it's my money that's paying for it, but on the same token the government can't start dictating who gets bonuses when at what company if they freely gave out money without pre-conditions on how it was to be used, it was a bad idea, so lets not do anymore, and learn from our mistakes

best case they might be able to tell AIG they have to give the money back, but if they try to mess with how companies operate we're heading down a dangerous path
we want the old Kai! "bring sexy back, vote Classic Kai"

Posted Image


Posted Image
:whistle:
Offline
 
Almighty
Member Avatar
Give that Roo a beer

Not that i don't dissagree with some of what your saying Galaxy but have a go at this one.

The US is not alone in these kinds of payouts for corporate leaders

In Aus just last month a major australian owned clothing manufacturer announced it was closing one of it's factories and moving it to Asia effectively sacking 1800 workers

The corporate leader who anounced this just recieved a AU$1.8 million payrise :sarcastic:

This was announced only months after they recieved government handouts to keep the manufacturing base here and the jobs here

They were told in no uncertain terms to give back the money handed to them last year and basically go fuck themselves.

It's bullshit pure and simple

No one should get a payrise for sacking 1800 people

To quote a local pollitian "the gold watch has now turned into the truckload of gold bullion."

Posted Image


Offline
 
wissaboo
Member Avatar
Admiral
what you guys need is some regulated banking. Means more government interference maybe, but not the kind that costs billions.
Posted Image
Offline
 
JustJoy
Member Avatar
All about the fish tacos

GCE-1701-D
Mar 19 2009, 09:54 PM
he can't do anything about it... without making us a more government run country and overstepping his bounds that is, obvious AIG never should have been given that money, all they've done with it is throw it around to other banks and other countries, had company retreats, etc... and yet they've gotten 'bail out' money a few times, AFTER the lavish company retreat even, it's done nothing for the economy, or jobs lost in that sector, so it should be chalked up as a horrible idea, and instead of saying how bad the execs that run the company are on Leno Obama should be amitting that the whole bailout thing is shame

honestly I'm getting rather tired of Obama, he thinks he's the male Oprah I guess, he's scheduled ANOTHER TV spot for Tuesday, this time to try to convince us all that his budget is Obamawesome!, seriously, I'm getting tired of this pattern; people get uppity about something he either wants to do, or is supporting, he buys some TV time, and then somehow thinks that giving us a teleprompter speech will cause us to all have warm butterfly fuzzy thoughts and bump up his approval ratings, some times people get pissed at the Prez and don't like his ideas, or things he's supporting etiher directly or indirectly, get used to it Obama, it's how things work

and for the love of God STOP trying to get the Government's hands in EVERYTHING, it's the Government forcing banks to make loans they knew were bad and would never be repayed so that "everyone" could "live the american dream" that got us where we are now in the first place!
stop throwing our money at a raging infurno and let the damn thing burn its self out so we can recover from it, I'm perfectly fine with those sleezy scum bags getting giant bonuses, they don't deserve it, and it's my money that's paying for it, but on the same token the government can't start dictating who gets bonuses when at what company if they freely gave out money without pre-conditions on how it was to be used, it was a bad idea, so lets not do anymore, and learn from our mistakes

best case they might be able to tell AIG they have to give the money back, but if they try to mess with how companies operate we're heading down a dangerous path
Well said, Darren. I completely agree.
Lighten up, Francis
Offline
 
Kosh131
Member Avatar
Vorlon Ambassador
Some thoughts.

The problem is that Congress assumed that these executives would have the common decency to not give their execs huge bonuses when asking for bailout money. This is foolish. These are the same people who got us into this mess through their combination of greed and stupidity. There should have been a receiver with the authority to cancel ANY expendature not necessary to keep the company afloat, with a proviso that he had the legal authority to void ANY contract not necessary to keep the company afloat.

This issue causes outrage because people can get their arms around it. You try to explain toxic assets to people, their eyes glaze over, even though those figures are in the billions! You tell them an exec got a million dollar bonus even though his company failed and they are taking pay cuts to keep working, THAT they understand and it gets them mad.
Understanding is a three-edged sword.
Offline
 
CaptDennyCrane
Member Avatar
Shat Happens
and on top of all that, I understand that maybe 6 or 7 of the people who got bonuses......

.....are no longer even there, and got them retroactively.
Posted Image
Posted Image
Posted Image
Posted Image

Posted Image

You cant expect 110% from others, when most times, they don't expect even 90% from themselves. -- Me.
No matter how hard your day, no matter how tough your choices, how complex your ethical decisions, you always get to choose what you have for lunch.
Offline
 
CaptDennyCrane
Member Avatar
Shat Happens
Posted Image

I'd STILL furiously tap that like a keg at a college party.
Posted Image
Posted Image
Posted Image
Posted Image

Posted Image

You cant expect 110% from others, when most times, they don't expect even 90% from themselves. -- Me.
No matter how hard your day, no matter how tough your choices, how complex your ethical decisions, you always get to choose what you have for lunch.
Offline
 
Kosh131
Member Avatar
Vorlon Ambassador
CaptDennyCrane
Mar 21 2009, 07:32 AM
Posted Image

I'd STILL furiously tap that like a keg at a college party.
Caribou Barbie?
Understanding is a three-edged sword.
Offline
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Free Forums. Reliable service with over 8 years of experience.
Go to Next Page
« Previous Topic · News, World Events, History · Next Topic »

Today's New Posts