AIG's Bonuses - More Than Expected

Submitted by Simon Rosenberg on 3/15/09
Simon Rosenberg's picture

Josh Marshall is reporting tonight that the total amount of bonuses being paid out by AIG is way more than expected. Hundreds of millions more. 

Remember AIG has received more money than is contained in the entire home foreclosure initiative, and almost half as much as is in the first year of the stimulus plan just passed.  The sums are staggering. 

I assume the Administration's response to this will be swift and certain - and unpleasant for AIG and others involved.  

Comments

AIG

Submitted by EricG on 5/20/09.

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We could all use a cash advance every now and again.  AIG got a HUGE cash advance, and so did General Motors.  Unlike a cash advance that the rest of us would get, the government didn't specify if repayment was on a short term basis, and they didn't specifically tell them that they needed to begin repayment on the next payday.  Both companies had to layoff employees, and they've both been purported to be circling the drain, which seems to be what the rest of the United States economy is doing.  However, the rest of us don't have the kind of debts those companies do, as there are no payday loans or cash advance big enough to cover their needs.

 

Bonus

Submitted by JosiahH on 4/14/09.

Our economy depends on the flexibility and variability - without it, innovation and incentive to innovate would die. It is no easy task to redeploys yourself, particularly if you must retrain yourself, but it is your ability to be flexible, adapt and embrace that promises you long-term stability. Bonuses given to the Congressional representatives somehow give an issue on the budget proposal. Thus, they should only be given according to the contribution they made. This assumes that members have budgeted well and have sufficient funds available in their annual allotment, known as the Member's Representational Allowance. LegiStorm is creating, well, a storm of controversy.  LegiStorm reveals the personal finances of Congressional representatives, their staff, and also any trips they take, gifts they receive, and congressional bonuses.  None of these people are hurting for payday loans, rest assured. Transparency in government is not something many staffers are for, despite a Constitutional mandate for it.  If too many people find out it, they'll need payday loans, as they will be out of work thanks to LegiStorm.