The Council voted to remove AIG from a list of systematically risky institution, often known as those that are 'too big to fail.
How do they justify this outrage to the taxpayers who are keeping the company afloat? A lot of these people should be fired, not awarded bonuses.
I slammed the phone more than a few times on discussing AIG. Paulson came to us and said--Mr. They simply informed us. US president Obama, Congress call for blocking of executive bonuses at AIG insurance company Some commentators suggested that such a tax would run into constitutional problems, because Article 1, Section 9 of the U.
Constitution prohibits Congress from enacting bill of attainder and ex post facto laws. However, Laurence Tribequoted in the blog of the Wall Street Journalsaid that there were no insoluble constitutional difficulties. Numerous court rulings have upheld retroactive tax provisions, particularly over short periods The House bill applies back only to January 1, The measure is also strengthened by the fact that it does not apply to just one company or group of individuals, and does not take aim only at past bonuses paid in but also bonuses to be paid in future.
Journal editorial, Jonathan Clements, a Citi employee, wrote, " At that point, I plan to ask Citi for an unpaid sabbatical. It is designed to tax all compensations, including all payments that may be "re-named" bonuses to ensure that individuals and firms will not escape the bonus tax.
Commentator Charles Krauthammer said "I would deny them the bonuses if possible. I would be for an exemplary hanging or two.
Have it in Times Square, invite Madame Defarge. You borrow a guillotine from the French and we could have a party. Our proletarian rage feels so unfocused. If only someone would step up and put on the kick me sign. Heads should be rolling.
Besides, is there really that much cutthroat competition for such an overpaid bunch of losers? I mean, these contracts seem to have been written in haste when the company could not possibly have honored them short of a bailout.The 16 Players To Blame For The AIG Fiasco.
Gregory White. Dahlgren was involved in the PR strategy for the Fed during its bailout of AIG and aimed to keep as much information secret as possible. The Hill is a top US political website, read by the White House and more lawmakers than any other site -- vital for policy, politics and election campaigns.
The bailout of AIG worries commercial-insurer rivals, which claim it has been given an unfair advantage.
(03/22/09). Jun 02, · For over half a century I have worked as an investment banker, and then written about Wall Street, highlighting the market upheavals of , , , and and their. Aig Blame For The Bailout. AIG Bailout & Stakeholder Analysis In September , the American International Group, AIG, the largest insurance company in the United States, suffered from the bad debts incurred insuring mortgage-backed securities.
Web of Debt Articles written by Ellen Brown. Articles by Ellen Brown. For articles after May 1, , see her blog here.. April 29th,