AIG Bonuses: move the $ focus to where it belongs Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


AIG Bonuses: move the $ focus to where it belongs

23 March 2009 at 10:41:53 AM

Americans are furious over the AIG bonus issue, and rightly so; however, the bonuses are the least of the problems with AIG.
The bonuses account for millions of taxpayer dollars, but what about the BILLION$ that were provided in the "bail-out" package to AIG?  Where is the oversight of that money?  Who in AIG is being held accountable for those billions and how are those tax dollars being used to help the company turn itself around.
The same is true of the "bail-out" BILLION$ for other companies.  Who is responsible and how is the money being used.
We should be more focused and concerned on how the BILLION$ of our tax dollars are being spent than on the bonuses.

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1 - salon   23 Mar 2009 @ 12:03:10 PM 

Reminds me of the S&L debacle in Texas, except on a grand scale.

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2 - pstern   23 Mar 2009 @ 12:54:15 PM 

Timely after my last commentary.
Just got this from Congressman Ron Paul:
Bankruptcy is Economic Stimulus
“The distraction on Capitol Hill this week has to do with the jackpot bonuses that executives at AIG recently received.  The argument is over a relative drop in the bucket.  The total amount of bonuses given out was $165 million.  The government has put $170 billion into AIG so far.  Many now are demanding we get this money back.   We ought to be spending our time and effort doing something more worthwhile, like figuring out how the Federal Reserve is handling the trillions of dollars they are creating and pumping into the economy, and how that is affecting the purchasing power of dollars in your pocket…”
Click here to read the full article:

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3 - humanbeing   23 Mar 2009 @ 2:54:38 PM 

Exactly! Printing more dollars will activate inflation which would inflate the 'value' of the worthless assets owned by the Desperate Ones. Problem is, the rest of us won't be able to afford even a pound of coffee anymore.

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4 - pstern   23 Mar 2009 @ 6:45:41 PM 

As I recall my history, in large part it was the over-printing of German currency (Marks) that led to high inflation and giving way to the takeover of Germany by Hitler and the Nazi's.

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5 - humanbeing   23 Mar 2009 @ 9:15:19 PM 

I must confess that my understanding of economics is primitive, at best. However, common sense tells me that the financial system is crashing because it needs to and that propping it up will not work. One does not need to have a degree in economics to have been able to predict this. I knew it was coming, I just didn't know when. Never underestimate the power of the Desperate Ones when it comes to preserving their own viability. To hell with them, I say. Something better and completely different must be created. The culture and the era of 'MORE' is over and I'm glad. But it will take time.

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6 - pstern   24 Mar 2009 @ 8:51:13 AM 

I don't believe for a second that the era of 'more' is over.  It has just been placed on "hold". 

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