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AIG, Bailout, Bonuses, Tim Geithner, President Obama, Chris Dodd… What do you think?

With the news of AIG and the bonuses this week, I find myself very disturbed by this news…

But not for the reasons you may think. If you paid attention to the news this week, you will have certainly heard of the AIG bonuses paid out to certain executives even after receiving federal bailout money. At a glance, I am sure you may have found this very disturbing.

How could these executives be paid these bonuses after receiving federal bailout money?

Isn’t this the an absolute example of corporate greed?

Well let’s examine some facts that are not making it to the main stream news:

1. Chris Dodd, Senator from CT, wrote specific language in the bailout legislation that addresses these bonuses. It said that these bonuses were to be protected. Despite the fact that he came out early in the week to cover his a** and say he knew nothing about it. He came out later in the week and said that he did know about this and wrote it into the legislation at the urging of the Federal Reserve Chairman, Tim Geithner, an admitted tax cheat.

2. President Obama knew about these bonuses as well, but did a great job putting himself on the side of the populous outrage.

Well folks, this is where the disturbing part comes in. The US government started to write legislation to attack the people who received these bonuses. A personal attack on these people by the US governement!

This is unconstitutional and should not happen.

The people who received these bonuses were under contract for these bonuses prior to the bailout money.

If you work for a union, I want you to think about a company that didn’t live up to its agreement with you. You would go on strike. Right??

My guess is, with a government that is in such a reactionary state of being, we are a laughing stock to the rest of the world.

Most contracts that are written, focus on performance based pay. AIG is a multi-facetted company with many division and portfolio’s. Some were profitable and, as we all know, some were not.

But with that said, should those who worked in a profitable part of the company be denied their bonus.

Let’s ask the union employee, GM and Chrysler are still making cars even while the are not making money. Should you still get paid for the work you do? Of course you should. Why? Because you are under contract.

This is a slippery slope that is easy to get on. But the more prosperous your mind is the more you can avoid being swept up in this crap that is happening in the news.

One of the best program on the internet is located at http://forgottenlaws.lifetosuccess.com

This is a comprehensive program about the laws of success. When you live according to these laws, the news will not effect you the way it does those who do not live within the laws.

As Always, Here’s to Your LifetoSuccess,

John Clark

P.S. Make sure to pass this on to those you know who can use this message and make sure to get over to http://forgottenlaws.lifetosuccess.com and start living within the laws of success.

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  • Although I’ve written a humorous post on AIG bonuses on my blog, I actually agree with your point of view on this. AIG is a huge company. Contracts were already in place to pay people who were likely in successful parts of the business. But throwing taxpayer dollars into the mix changes everything, exposing the entire business to public scrutiny. Whether such large bonus contracts should have been written in the first place is probably more the question, but you’d need a time machine to go back and undo those agreements. But, hey, for me, it’s decent material for a funny bit.