by Carla G.
Member since:
September 19, 2006

Sign A Petition to Cancel the Bonuses for A.I.G. Executives

March 18, 2009 02:06 PM EDT
views: 71 | comments: 25

It's one thing to complain about the bonuses being paid to A.I.G. executives, but we also have to take action.


I signed a petition urging Secretary Geithner and Congress to do whatever it takes to cancel these bonuses. Please join me at the link below and share your comments. There is a meeting tomorrow and your comments should be heard.

http://pol.moveon.org/aigbonus/?r_by=15739-1165144-dYWSFzx&rc=paste

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Comments: 25

David K. Mar 18, 2009, 2:16pm EDT
I'm not really a big fan of petitions, especially when they are merely for show like this one (and, frankly, like most petitions). Oddly enough, there is bipartisan outrage at the AIG bonuses, and if nothing else they highlight what was broken in the old way of doing things. Imagine - the government has to fight to keep taxpayer bailout money, given to a company because of its bad business practices, from being given as bonuses to the very people who pushed those bad business practices in the first place.

Tell me this isn't just a bad dream.
DiAnA D. Mar 18, 2009, 2:16pm EDT
great idea! thanks!!
Carla G. Mar 18, 2009, 2:22pm EDT
I don't believe that this one is for show.
Kathryn E. Mar 18, 2009, 2:22pm EDT
But did you hear this - moments ago from the NYT:

NYT ALERT: AIG CHIEF LIDDY SAYS HE HAS ASKED SOME RECIPIENTS TO GIVE AT LEAST HALF OF THE BONUS BACK
Carla G. Mar 18, 2009, 2:24pm EDT
That's good to hear.
David S. Mar 18, 2009, 2:29pm EDT
The government agreed to pay the bonuses in the stimulus package. They're the ones to blame.
I signed it.

David-So we should pay?
Kathy N. Mar 18, 2009, 2:51pm EDT
Forget about the petition the only way to save this money is if the recipients forfeit their bonuses. :@)
Kimber L. Mar 18, 2009, 2:57pm EDT
I don't think there should have been any bailout to begin with, if the government is looking bad over it - well it was their own doing.
Kimber L. Mar 18, 2009, 2:57pm EDT
I will still go look at the petition though
Sheryl O. Mar 18, 2009, 3:11pm EDT
I already signed. Nobody who fails should get a bonus. And people who fail this big should get jailtime.
Brian T. Mar 18, 2009, 3:16pm EDT
I already signed. Getting money despite performance encourages job failure and screwing things up by these executives
Tanya P. Mar 18, 2009, 3:32pm EDT
I'll get over there shortly. Thanks.
E. M. Mar 18, 2009, 4:01pm EDT
I signed it.
Sandy F. Mar 18, 2009, 4:04pm EDT
1. MoveOn Petitions are had delivered to YOUR state Senators and Congressmen and in this case to Sec. Geithner as well. They are not just online or email petitions which don't carry much if any clout.

2. We the taxpayers of the USA OWN 80% of A.I.G. since the first bail out. So why should we not have our say. Stand up and quit whining, make your voice loud and it will be heard.
This is a giant travisty of justice and fair play.
Carla G. Mar 18, 2009, 5:38pm EDT
Well said, Sandy.
Richard Owl Mirror Mar 18, 2009, 6:37pm EDT
Hi Carla, good idea but, remember these recent bonuses are peanuts compared to the others which have preceded it. Here is a solution I've come up with.

I've been watching TV today and it struck me that our brave Men and Women in the military have been prevented from leaving upon the completion of their contract because their skills were needed. http://www.msnbc.msn.com/id/29757499

Today during the hearing with the AIG CEO, he said these people were indispensable to the task at hand, therefore they were required to pay these retention bonuses in order to keep these folks in place to complete their work.
Since the Federal Government owns the major interest in this company, couldn't they simply institute a 'stop loss' program ?

It sure seems comparable to me.
Elsie C. Mar 18, 2009, 7:23pm EDT
I was reading Liddy's statements on my Comcast internet today. They have given us a site where you can see the actual contract given to AIG employees/consultants. It is not easy reading.

www.house.gov/apps/list/press/financialsvcs_dem/press031809.shtl
Elizabeth (This place IS my Soap Opera) O. Mar 18, 2009, 10:52pm EDT
Standing O Richard Owl! What an EXCELLENT idea!
Tammy N. Mar 19, 2009, 8:19am EDT
Sen. Dobb's accusations (pressure from the Treasury to scale back wording in the stimulus plan to protect against such bonuses) are alarming. I'm not impressed with Geithner and it is becoming more and more evident as to why so many are stepping back from accepting jobs in the Treasury Department! It's time for Mr. Geithner to step down... President Obama needs to make that happen!
Richard Owl Mirror Mar 19, 2009, 2:28pm EDT
Tammy N., I'm not impressed with Geithner and it is becoming more and more evident as to why so many are stepping back from accepting jobs in the Treasury Department! It's time for Mr. Geithner to step down...

Where are you getting your information that "so many are stepping back from accepting jobs in the Treasury Department" ?
Are you talking about the concerted effort by the minority party in stifling every nomination having to do with Mr. Geithner office ?
People are not 'stepping back' from joining Mr. Geithner's office because of the task at hand or because of Mr. Geithner. They are 'stepping back' due to the rough shod interference of the Republican minority. Please explain how Mr. Geithner can handle all that needs to be dealt with when he has been prevented from fully staffing his agency?
The Republicans are ensuring that Mr. Geithner fails, which in turn is serving to keep our economy spiraling downwards.
Carla G. Mar 19, 2009, 3:02pm EDT
Thanks, Richard. You do have a point.
Mooch -. Mar 19, 2009, 8:57pm EDT
Sadly to say I don't think the bonuses can be retracted. The Government made a clause in the stimulus bill so that they could get their bonuses, and avoid law suits.

I think the whole thing stinks really bad and I'm not even sure that the 90% tax will even be enough.

Everyone is upset, but this is why pushing the stimulus bill through like it was, was not a good idea.

There are plenty of politicians that are looking pretty stupid.

While I don't think Geithner is the right person for the job, or a decent secretary of Treasury, I don't think they should call for his resignation if he did not have anything to do with the language in the bill.

Mooch
Elsie C. Mar 19, 2009, 10:48pm EDT
People who want to sabotage Obama, will also try to degrade anyone Obama choses. Geithner is the current target. There were others, there will be more. It's a smoke screen to keep people from seeing the actual truth. I have posted another concept I saw on The Motely Fool today. It's very much worth reading. We have a right to be angry over the bonuses, but we also have to respect contracts written before the crisis. This article discusses why. You can find it in my profile/posts.
Carla G. Mar 20, 2009, 11:53am EDT
Elsie, unfortunately, I'm starting to think that Geithner is a problem and should be fired.

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