AIG exec Edward Liddy: Bonuses are 'distasteful'

The chief of failed insurance conglomerate AIG acknowledged Wednesday to skeptical congressional interrogators that the company's multibillion bonuses to employees were "distasteful" to many Americans including himself and that "I share that anger." Lawmakers from both parties expressed fury over the company's behavior.

[paul]

The ship of fools in the white house have designed and passed a " stimulation bill" that will create fraud and thievery that has already set a world record. Now, they point fingers at each other as the guilty party, while Obama who is the real culprit, pretends to be an innocent party to it all. Where does the buck stop?

[shammy]

yes, obama does try to portray himself as an innocent party, but, he did not inherit this problem, he was part of the congress that created this problem by not properly regulating the banks. why did dodd throw in a clause to protect companies who already have bonuses set to be paid out? our government knew about this and is now "playing dumb." the american people are not buying this act. now, obama is scheduled to appear on a comedy show, how fitting!

[Steve]

Funny thing is, if you think having the Federal gov't own them will make things better....THINK AGAIN!

Watching all these clueless Congressmen and Senators run around eanting and raving is like watching a Chrlie Chaplain movie. All the while, Obama fiddles.

Damn, they look like idiots to the rest of the world.

[KirkHere]

shammy wrote:

yes, obama does try to portray himself as an innocent party, but, he did not inherit this problem, he was part of the congress that created this problem by not properly regulating the banks. why did dodd throw in a clause to protect companies who already have bonuses set to be paid out? our government knew about this and is now "playing dumb." the american people are not buying this act. now, obama is scheduled to appear on a comedy show, how fitting!

BREAKING NEWS!!!!!!!!!!
ASSOCIATED PRESS

Wednesday, March 18, 2009

Fannie Mae and Freddie Mac to Pay Bonuses of Up to $1M TO EXECUTIVES

WASHINGTON -- Fannie Mae plans to pay retention bonuses of at least $1 million to four key executives as part of a plan to keep hundreds of employees from leaving the government-controlled company.

Rival mortgage finance company Freddie Mac is planning similar awards, but has not yet reported on which executives will benefit.

The two companies, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults. Fannie recently requested $15 billion in federal aid, while Freddie has sought a total of almost $45 billion.

Fannie Mae disclosed its "broad-based" retention program in a recent regulatory filing with the Securities and Exchange Commission. The company was only required to disclose the amounts for the top-paid executives, who will pocket at least $470,000 on top of their base salaries.

The bonuses are more than double last year's, which ranged from $200,000 to $260,000. Another round of bonuses ranging from $330,000 to $429,000 are planned for next February.

A company spokesman declined further comment.

Fannie Mae said regulators determined that the bonuses were needed because keeping key employees "was essential to ensure our viability through 2010, which would allow Congress, the administration and other parties involved time to determine what the form and function of the company will be in future years."

The bonuses were authorized last year by the Federal Housing Finance Agency, which seized control of Fannie and Freddie in September and ousted the companies' former CEOs "It was critical to retain their most important asset -- their employees -- who are being asked to play a vital role in the nation's economic recovery," James Lockhart, the agency's director, said in a statement. "As the previous senior management teams left, it would have been catastrophic to lose the next layers down and other highly experienced employees."

But the generous paychecks could prove politically touchy amid outrage over roughly $165 million in bonuses paid out over the weekend by bailed-out insurance giant AIG.

ROFLMAO!!!!

[KirkHere]

Steve wrote:

Funny thing is, if you think having the Federal gov't own them will make things better....THINK AGAIN!
Watching all these clueless Congressmen and Senators run around eanting and raving is like watching a Chrlie Chaplain movie. All the while, Obama fiddles.
Damn, they look like idiots to the rest of the world.

http://www.foxnews.com/politics/2009/03/18/pe...

BREAKING NEWS!!!!!
MARCH 18, 2009

SPEAKER OF THE HOUSE PELOSI DEMANDS END TO DEPORTATION RAIDS.

Pelosi Tells Illegal Immigrants That Work Site Raids are Un-American
The speaker of the House told a group of both legal and illegal immigrants recently that enforcement of immigration laws in the United States is "un-American."

"You are special people. You're here on a Saturday night to take responsibility for our country's future."
SPEAKER OF THE HOUSE NANCY PELOSI ADDRESSING ILLEGALS IN SAN FRANCISCO

EXCLUSIVE: House Speaker Nancy Pelosi recently told a group of both legal and illegal immigrants and their families that enforcement of existing immigration laws, as currently practiced, is "un-American."

The speaker, condemning raids by Immigration and Customs Enforcement agents, referred to the immigrants she was addressing as "very, very patriotic."

"Who in this country would not want to change a policy of kicking in doors in the middle of the night and sending a parent away from their families?" Pelosi told a mostly Hispanic gathering at St. Anthony's Church in San Francisco.

"It must be stopped....What value system is that? I think it's un-American. I think it's un-American."

Pelosi said she was invited to the church by Rep. Luis Gutierrez, D-Ill., as part of his 17-city, cross-country tour called United Families, which he says is intended to put a human face on the immigration debate.

"We think that families are the cornerstone of our society and our nation, and an immigration system should preserve those families, not destroy them," Gutierrez told FOX News Capitol Hill Producer Chad Pergram on Tuesday.

The congressman is collecting petitions that ask President Obama to "stop the immigration raids and deportations that are tearing our marriages, families and children apart." He is expected to present those petitions when Hispanic members of Congress meet with the President Wednesday.

On Saturday night, Pelosi joined Gutierrez before a cheering crowd at St. Anthony's chanting, "Si se puede," or "Yes we can."

Referring to work site enforcement actions by ICE agents, Pelosi said, "We have to have a change in policy and practice and again ... I can't say enough, the raids must end. The raids must end.

"You are special people. You're here on a Saturday night to take responsibility for our country's future. That makes you very, very patriotic."

"I was embarrassed by what she said," said Rick Oltman, with Californians for Population Stabilization, an anti-illegal immigrant group. "Exhorting illegal aliens for taking responsibility for our country's future.... In fact, sitting there in the audience.... I really resented that comment."

"I think it was pandering to the crowd but also insulting to American citizens who consider themselves to be patriotic, who obey the rule of law," said Oltman, who shot a video of the rally.

[Nic]

Cuomo said in a Feb. 10 letter that Merrill “chose to make millionaires out of a select group of 700 employees,” and that a smaller group was awarded “gigantic bonuses.”

After the top four recipients received $121 million, the next four received a combined $62 million, he said, and the next six got a combined $66 million.

Overall, the top 149 people who got bonuses received a total of $858 million, according to Cuomo’s letter. He said 696 people got bonuses of $1 million or more.

[Oh no not really]

I happened to catch some of Obama's speech in CA yesterday - especially where he mentioned that CA has a very high unemployment rate, high foreclosure rate, etc. He didn't answer the AIG question directly - but instead of paying a few hundred AIG people $173 million in bonus - they could have given 165,000 unemployed each $1000 checks to pay for rent, gas, groceries, etc.
Just a thought.

[Caroline Baloney]

So Congresswoman Maloney says that Congress will just wontonly pass a law taking the legal bonuses back retroactively. She's as clueless as Caroline McCarthy who wants to tax the AIG execs 1000%. On thousand percent??? Are you friggin kidding?? Who elected these mental morons? The framers of our Constitution must be rolling in their graves at the ineptness of these idiots.

[Long Island Taxpayer]

Obozo received a bonus from AIG in 2008 of more than $100,000. The only politician to receive more than Obozo was Senator Dodd and he received over 200,000. how can you accept money from AIG and then criticize them for issuing bonuses it's a bit hypocritical. What am I saying Obozo and his liberal clowns are the biggest hypocrites in the world with their "do as I say not as I do".

Checkout oepnsecrets.org it's nonpartisan website that keeps track as to what politicians are getting the money and from whom. From the information on this webiste it appears that some politicians have sold their soul to the devil. Pelosi is the big money winner with the banks and unions (their in leaque with the devil for sure).

[Long Island Taxpayer]

Oh no not really wrote:

I happened to catch some of Obama's speech in CA yesterday - especially where he mentioned that CA has a very high unemployment rate, high foreclosure rate, etc. He didn't answer the AIG question directly - but instead of paying a few hundred AIG people $173 million in bonus - they could have given 165,000 unemployed each $1000 checks to pay for rent, gas, groceries, etc.
Just a thought.

Did Obozo have his teleprompter with him? You know he is unable to give any speech without his teleprompter which is why he comes across as a great speaker.

[Long Island Taxpayer]

According to opensecrets.org it appears that Senator Doddy owes a lot of banks based on 2008 money he took:
Contributor and Total
Citigroup Inc $316,494
United Technologies $264,400
SAC Capital Partners $248,500
American International Group $223,478
Royal Bank of Scotland $218,500
Bear Stearns $201,000
Goldman Sachs $180,200
Credit Suisse Group $157,050
Morgan Stanley $156,600
JPMorgan Chase & Co $134,050
Merrill Lynch $132,950
Lehman Brothers $122,300
Hartford Financial Services $117,150
KPMG LLP $116,650
General Electric $113,000
UBS AG $110,800
St Paul Travelers Companies $107,100
Travelers Companies $104,700
Deloitte Touche Tohmatsu $103,000
The Hartford $94,550
Pelosi takes up much too much room the list is 3 times longer, a real embarassment

[BILL]

Where is this Hurricane that the US Weather service says will hit Long Island that way it can clean up LI and leave the intelligent folks

[LI ICE]

BILL wrote:

Where is this Hurricane that the US Weather service says will hit Long Island that way it can clean up LI and leave the intelligent folks

Hey Billy Boy...how's the illegal immigration in Colorado? What about the Mexican drug cartel? From what I read you folks there need to worry about your state and not Long Island.

[Wake UP America]

shammy wrote:

yes, obama does try to portray himself as an innocent party, but, he did not inherit this problem, he was part of the congress that created this problem by not properly regulating the banks. why did dodd throw in a clause to protect companies who already have bonuses set to be paid out? our government knew about this and is now "playing dumb." the american people are not buying this act. now, obama is scheduled to appear on a comedy show, how fitting!

You are correct, except he is not PLAYING dumb. He is dumber than BUSH. SCARY

[Spirit of 1776]

KirkHere wrote:

<quoted text>
http://www.foxnews.com/politics/2009/03/18/pe...
BREAKING NEWS!!!!!
MARCH 18, 2009
SPEAKER OF THE HOUSE PELOSI DEMANDS END TO DEPORTATION RAIDS.
Pelosi Tells Illegal Immigrants That Work Site Raids are Un-American
The speaker of the House told a group of both legal and illegal immigrants recently that enforcement of immigration laws in the United States is "un-American."
"You are special people. You're here on a Saturday night to take responsibility for our country's future."
SPEAKER OF THE HOUSE NANCY PELOSI ADDRESSING ILLEGALS IN SAN FRANCISCO
EXCLUSIVE: House Speaker Nancy Pelosi recently told a group of both legal and illegal immigrants and their families that enforcement of existing immigration laws, as currently practiced, is "un-American."
The speaker, condemning raids by Immigration and Customs Enforcement agents, referred to the immigrants she was addressing as "very, very patriotic."
"Who in this country would not want to change a policy of kicking in doors in the middle of the night and sending a parent away from their families?" Pelosi told a mostly Hispanic gathering at St. Anthony's Church in San Francisco.
"It must be stopped....What value system is that? I think it's un-American. I think it's un-American."
Pelosi said she was invited to the church by Rep. Luis Gutierrez, D-Ill., as part of his 17-city, cross-country tour called United Families, which he says is intended to put a human face on the immigration debate.
"We think that families are the cornerstone of our society and our nation, and an immigration system should preserve those families, not destroy them," Gutierrez told FOX News Capitol Hill Producer Chad Pergram on Tuesday.
The congressman is collecting petitions that ask President Obama to "stop the immigration raids and deportations that are tearing our marriages, families and children apart." He is expected to present those petitions when Hispanic members of Congress meet with the President Wednesday.
On Saturday night, Pelosi joined Gutierrez before a cheering crowd at St. Anthony's chanting, "Si se puede," or "Yes we can."
Referring to work site enforcement actions by ICE agents, Pelosi said, "We have to have a change in policy and practice and again ... I can't say enough, the raids must end. The raids must end.
"You are special people. You're here on a Saturday night to take responsibility for our country's future. That makes you very, very patriotic."
"I was embarrassed by what she said," said Rick Oltman, with Californians for Population Stabilization, an anti-illegal immigrant group. "Exhorting illegal aliens for taking responsibility for our country's future.... In fact, sitting there in the audience.... I really resented that comment."
"I think it was pandering to the crowd but also insulting to American citizens who consider themselves to be patriotic, who obey the rule of law," said Oltman, who shot a video of the rally.

Let's cut to the chase.

"Traitors" Pelosi, and Obama...are clearing the way for the "New World Order" and "The Global Economy"...

Real America...we are going to have to protect, Our Bill of Rights, and Constitutional Right...with a vengence!!!

[Spirit of 1776]

Wake UP America wrote:

<quoted text>
You are correct, except he is not PLAYING dumb. He is dumber than BUSH. SCARY

Obama is the perfect "Puppet" he has not love nor alliagence to The United States of America.

What I can't figure out is Pelosi, what exactly is she doing condoning Illegals...what is her motivation...does this evil woman want to become the next President???

[Tired Old Man]

My god! America wake up we have been the victim of a con. Like any other victim we don't want to beleive that we were that stupid. "CHANGE" We wanted it and we got it.

[Change You Can Believe In]

Unconstitutional

The Congress cannot single-out individuals or groups for punishment through the legislative process....

There is not a Court in this country that will uphold this action...

All we can do is blame Senator Dodd and President Obama for their failure....

[obominized]

And away goes America down the drain Baracka Rooter.

[Steve]

You mean it's true? AIG is all run by politicians?

...that is the definition of a snake oil salesman, isn't it?