Donna, what you state is correct if you only consider the letter of the law. But, this should have been a case of compassion over contracts - but it wasn't. The action taken by A.I.G. came AFTER a threat to deal with the blatant mis-use of the tax payers money. Legal or not, by the actions of the government it did bring about pressure on A.I.G. It sort of reminds me of the time, Marie Antonet (sp) is credited with saying, "Let them eat cake", referring to the common person.
---wivv on 3/27/09|
Paul said, "Owe no man any thing". What would that mean?
---Nana on 3/25/09|
If AIG didn't have to borrow government bailout money, then I'd say do whatever you want with your earnings and profits. As long as you're doing a good job.
Since the same AIG folks that got AIG in trouble, are the ones getting the bonuses, I say it's the CEO that is guilty. So a contract at AIG says, whether you do a good job or a bad job, you get a bonus? I don't think so.
The politicians in Washington are wrong for not fining out UP FRONT what AIG was going to do with their bailout money - not enough investigation was done BEFORE they gave them the money - so both are at fault.
GREED is what has gotten us into this economic mess and GREED won't get us out.
---donna8365 on 3/24/09|
It is maddening to see our tax dollars going to pay million dollar bonuses.grrr.
But legally AIG is right. They made contracts which they were compelled to honor.
But Congress acted irrationally and illegally.
It is NOT constitutional to make laws that single out certain individuals.(such as AIG executives). It is NOT constitutional to punish people for acts which were legal at the time they were committed, but declared illegal afterward. Punitive taxation, itself, is a fearful thing.
I'm worried when Congress minimizes the importance of a contract. Much in our lives
is guided by contracts. If we cannot COUNT on a written contract...can we count on anything?
---Donna on 3/23/09|
"Who is guilty?"
He to whom the following verses are applicable.
"The wisdom of the prudent [is] to understand his way: but the folly of fools [is] deceit." Pro 14:8
"This their way [is] their folly: yet their posterity - as those behind them- approve their sayings." Psa 49:13
"Every prudent [man] dealeth with knowledge: but a fool layeth open [his] folly." Pro 13:16
The bottom line is this "The rich ruleth over the poor, and the borrower [is] servant to the lender."Pro 22:7
And remember: "He that oppresseth the poor to increase his [riches, and] he that giveth to the rich, [shall] surely [come] to want." Pro 22:16
Think about it.
---joseph on 3/23/09|
It began with people buying a company's product and stocks. If you know a person is stealing or doing wrong by the Bible, is it right to support them? We the People have a responsibility to make our nation great and uphold morals our country was founded upon. We (as a whole) amass to buy foreign products then complain when there are no jobs. We fall for the ruse that we all need 4 year plus degrees when it has always been the tradesmen (and women) who keep the taxes paid. We get lost in supporting politicians who promise jobs and economic increases for OUR areas without considering the immoral or illegal consequences. Then we blame the crooks who take over companies because it is they who reap the harvest of our laziness.
---mikefl on 3/22/09|
"Who is guilty?" Guilty of what?
The only honorable people involved are the ones who fulfilled the requirements of the legal contracts: The employees who were paid and the employer who paid them. Aside from that, it's nobody's concern. Democrats in Congress who demonize these people and who wish to steal their payments are reprehensible. If Obama signs the bill then he will be just as evil.
Anybody who thinks that Government should be determining how much people earn is heading down a road that will lead to the end of America as we know it. I wish that China would start dictating where the Congressional hypocrites can and can't spend money since it is Chinese bailout money that the President wants to waste.
---ralph7477 on 3/21/09|
Does aig stand for all income grabbers?
---tom on 3/20/09|
"the sons of this world are more shrewd in their generation than the sons of light" (in Luke 16:8). They are in Satan's kingdom, doing what his people do, because of their *character* witch is their *dictator*. They are under a DICTATORSHIP. And people actually expect otherwise, while they themselves do not obey God (o: President Obama reportedly has found a way to deal with this > to impose a *ninety-percent tax* on bonuses (o: Shrewd. You ask if they are guilty > Jesus says "shrewd". If they made a contract . . . that's business. And people chose to go along with them, signing for what they promoted. We are responsible for the choices we make, to make sure with God.
---Bill_bila5659 on 3/20/09|
Both! The politicans for not taking more time, and it also has to be remembered, that the Congress retirement funds are with A.I.G. (a little known fact). And somehow Congress got the idea A.I.G. was too big to fail! Nonsence - congress was just trying to protect their retirements, in this writer opinion. A.I.G. has finally agree to reduce the amount of bonues, but they really should get nothing, you don't reward people for a bad performance.Both congress and A.I.G. are guilty of GREED! (They were pressured into returning at least part of the bonesus as a result of so much outrage by John Citizen- which goes to show if enough people are behind something, it will be changed by politicans who don't want to lose a vote.)
---wivv on 3/20/09|
Both are guilty. The CEOs for their irresponsibility and greed, and the politicians for their irresponsibility altogether.
---Trish9863 on 3/20/09|
Whoever made the contracts to include such outrageous amounts in these bonuses.
I can understand a hundred thousand dollar bonus,but not a 2 million dollar one or even one million dollars.
---donna8365 on 3/20/09|
Hey, I wish I could have gotten someone to pay me such huge bonuses for mistakes, I could have been rich a long time ago!Seriously, since when do people get rewarded for losing money on investments or anything else? I don't care when the bonus agreements were negotiated, if they didn't have some type of "performance clause" in them they weren't valid.
---tommy3007 on 3/19/09|