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Welcome to our new blog! It’s called amFIX and we hope you get hooked!
We’ve replaced the old American Morning show page with amFIX because we wanted a way to better communicate with YOU, our viewers. So communicate away, folks! Post comments to the blog, follow us on Twitter, become a fan on Facebook, or send us an iReport or email.
Whatever method you choose, we promise to read them all and we’ll even share some of them on-air and on the blog each day!
At amFIX you will find stories and video from American Morning reporters and producers and behind the scenes blogs from the both of us. We’ll keep you updated on the stories we’re following and give you advance notice when we have guests we think you’ll find interesting.
This is just the beginning and we welcome your feedback so make sure you tell us what you like (and don’t like) and what you want to see more of.
And don’t forget, each day, get your amFIX!
John and Kiran
About this Show
Welcome to the American Morning blog where you can get daily news updates from American Morning's reporters and producers. Join us for "the most news in the morning," weekdays from 6-9 a.m. ET, only on CNN.
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Haitian relief teams need to relocate the refugees to Gonaives and Port du Paix in the northwest. using convoys the relief teams can move the refugees out of Port au Prince into ten cities in those two towns which would allow the U/SAR teams to work unimpeded until the rescue and recovery phase is terminated and rebuilding pahse starts. The tent cities would have medical services, a canteen, and family services units on site. The tent cities would have solar/wind farms set up for electrical power. An area east of Gonaives and west of Port Du Paix near the swamp would give the tent cities ample room for operations. It would also keep personnel down to a minimum in the city which would make it easier for security teams to identify gangs and looters.
Once the rebuilding phase has begun, the city needs to be rebuilt from UNDER the ground first with new sewer and water systems. Then Streets, roads, and highways, then government and infrastructure buildings, and police and fire/rescue dept established. A mosquito control program contracted for and then concentrate on allowing people to come back into the city to rebuild. If you don't follow this outline to the tee, failure is bound to be the result.
I think John Roberts is the hottest thing on TV today!!!!
Hi my name is Colleen and I am lucky enough to be a public school teacher in a small rural town in Southern Colorado. After months of watching this country’s leaders attempt to navigate their way through the current financial crisis, I think I have a mistake proof solution to this whole mess. Fire the entire lot of executive economists and let my 3rd graders take over…not only would they work for free, they can add, subtract, problem solve, and use deductive reasoning to come up with solutions that actually make sense, They also care without bias to social class, or power, and when they do make mistakes they fix them immediately even if it means giving up recess. I invite anyone of these so called money gurus into my classroom for a free workshop in reality-please bring a sack lunch.
I read on the internet that AIG holds Congress' pensions. Is this true and is this why are government keep bailing them out?
Would appreciate a response..
Thank you.
Maybe it's time for us, the little people, to pick up our pitchforks and axe handles storm the castle and kill the evil monster.
If there is a contractual obligation to pay the AIG derivative bond traders, then pay them in AIG stock.
Re: AIG's bonus are you kidding me! Why should we, the tax payers, have to pay these people for doing a bad job? If "everyday" Americans do a bad job on our jobs we get FIRED! Not get bonuses. If you go into a job expecting a bonus and you don't get one too bad, grow up. That is life! I agree with the Iowa Senator? Either quit or fall on your sword. I think every American should refuse to pay their mortgages because the banks have already gotten our money through bailouts and now they are getting it again by us making our mortgage payments. Whatever happened to not being allowed to double dip?
I'm a graduate of UALR (1997) I have a degree in criminal justice. My law professor taught me if you use funds that is are supposed to be used for one thing but use them for another that is a CRIME (technically it would be theft by deception). If president obama wants to put a end to this type of stuff. He needs to have the attourny general prossecute this criminals.
don gattin
benton arkansas USA
Good Morning
We (the poor) are still making the rich richer. We are giving our money (taxes) to the banks and AIG etc... So the rich or (upper class) can keep their jobs.
The upper class is making the decisions on where our money goes but none of them have to worry about rent or food for their kids as we do.
When does it end?
When does the poor stand up and say enough.
"There's a fool born every minute,” referred to thousands that paid money to see a fake giant in the P.T. Barnum Circus. Today’s fake giant is: Congressional Bailout and Wall Street Ponzi…the "fool" born every minute, the US taxpayer!
I think these people from the AIG took our money under false pretences, and because of that, we should ask them to give the money back. Who is holding the purse here. Stand up congress
My wife and I watched the interview that Kiran did this morning when Jill Schlesinger mentioned that bonuses are the way many traders on Wall Street are paid. Jill went on to say that owners of firms, years ago, took very small salaries then split the profits as a bonus.
AIG did not make a profit, in my mind the so called "contracts" are no longer valid. Without our money AIG doesn't exist and the employees are on the street unemployed.
Maybe the employees of AIG should be thankful they still have their small salaries (200,000 or so according to Jill Schlesinger) and forget the bonuses.
Everyone says that AIG is now 80% owned by the government, which is the people of this country. If this is so, then why shouldn't we be able to rescind bonus contracts? We, in essence, are now the stockholders and/or board of directors.
This situation in corporate America has been going on for years. CEO 's. Upper management used to work their way up from the bottom. They new their business inside and out. Now they are "masters of the universe" that come out of business schools and look at business from an elitist point of view. They get signing bonuses, retention bonuses and golden parachutes, even if they fail miserably. No wonder they're in the shape they are and no we are.
Sometime in the late '70's, corporate America started rewarding themselves for bad behavior. This is the end result.
Thanks for the vent.
Shar Lombardo
I think no company in america should be allowed to be too big to fail. I call that a monopoly. Look what happened to microsoft, broken up into 3 parts. We should take the next 30 billion dollars that is waiting for AIG, bring the next 5 largest insurance companies in the US to the table, break up AIG in 5 parts and give these companies 6 billion a piece to help them get things back on track. If that is not legally possible than either let AIG fail, take our medicine now while things are bad anyway or if we have to, give out any new funds in small amounts. make AIG come to congress, explain what its for and then make them come back and prove they did it. Good God, we know how responsible they are now dont we. Okay, heres 3 billion, we will see you next month to see what you did. Sounds good to me.
I'm all for sanctity of contracts but let it be the responsibility of the negotiators of said contracts to keep it from their own funds or be held in default. The money has been given and we can't force that undone, so be it. In lieu of that I put forth that the taxpayer did not give money to these failing companies to keep past promises. Those promises were made by a failing organization and as such are not the responsibility of the public at large to fix. Since the money has been given out at best we'll have to waste more money to TRY to get any of it back. I propose that since the moneies given AIG were used inappropriately that those individuals responsible for making those commitments have in essence negotiated a loan that must be payed back out of their pockets, with fair interest. That or they go to jail for economic treason and face the death penelty like any other traitor.
I work in the poorest county in Fl. Taylor County our unemployment rate is now at 10%+ and rising and we have a Gov. that wants to use the stimulas on a bus system in Tall. Thats all and good but he has cut out all the things (electric plants) that we needed to stimulate our own economy and would have provided jobs close at hand. Our school teachers and administrators are taking a 5% cut in pay just to keep our schools open,there are no businesses that want to come here because of the taxes and they are one of the highest in the state!
go figure this one.= poorst county, highest tax base in state = ?
Please elucidate: How do the actions of some excutives from AIG and Bernie 'Made-Off(with it)" difffer from the actions of the sociopath Robert Mugabe? He has robbed the economy, denied responsibility for error, destroyed lives, holidayed and lived it up on taxpayers dollars, caused destruction and death, demonstrated a belief in his "special rights".... sound vaguely familiar? While we like to think this society is more advanced and moral, that democracy and our legal system protect us – we're a toothless tiger! These executives have demonstrated shameless greed. and no sense of accountability Bonuses! They wouldn't have salaries if the taxpayers hadn't bailed them out!
Forget AIG – Banks say they no longer need TARP money. Why? They are changing our contracts; CapitolOne Prime (6.99%) plus 10.65% my APR is 3.64%. Chase prime plus 10.24% my APR is 9.24%. Amex is changing fix rates to variable, thank goodness that does not affect me but I know will get others. We are being raped and pillaged! The congress needs to do something to pull in the banks/credit card companies. I will be going to my state congress man and senator along with Senator Dodd and Congressman Barney Frank. Please help to call the Banks out!
My deepest concern is taking care of home first. The United States has a history of providing help and services for the needy in other third world countries, but never enough emphasis on poverty at home court. Why are so many major corporations providing services and employment overseas? I called two service providers (Sprint for cellular technical issues and Verizon for internet support) on two different occasions. It was very shocking to witness a resident of India and the Philippines answer my call for services. This is another reason the economy is falling. Our auto , clothing, and other manufacturing industry has decided to employment foreigners, rather than educated citizens that took out students loans and sacrificed their time for those positions that are limited. Why aren’t jobs being provided to United States Citizens and why is congress allowing this? This topic alone could very well help stimulate the economy.
I am asking every country, every company, every entity and human being with a shread of concience who are making payments to AIG, to make your checks payable to the American People, and send your payments and payment slips to the White House. Lets show AIG that if they will not make concessions we will take these matters into our own hands. Lets finally say No Way! Not Any More!
My deepest concern is taking care of home first. The United States has a history of providing help and services for the needy in other third world countries, but never enough emphasis on poverty at home court. Why are so many major corporations providing services and employment overseas? I called my services providers (Sprint for cellular technical issues and Verizon for internet support) on two different occasions. It was very shocking to witness a resident of India and the Philippines answer my call for services. This is another reason the economy is falling. Our auto , clothing, and other manufacturing industry has decided to employment foreigners, rather than educated citizens that took out students loans and sacrifices their time for those positions that are limited. Why aren’t jobs being provided to United States Citizens and why is congress allowing this? This topic alone could very well help stimulate the economy.
AIG is getting our hard earn tax money and tax payers are living on the street,no health insurance ,many people are losing their home and many of them had not gotten mortages that their salary were unable to meet their needs.Because of the unscruplus pratices of banks and mortages brokers some homeowners are losing their homes due to inyerest only loans.Some are trying to hold on to their homes but might not be able to do so much longer;intrest goes up the loan goes up and the homes are not worth what is owned the bank.What is going to happen to people who had to use their credit card for food ,heath and are unable to meet their monthly payment but are paying a part .But the banks are taking this money but are sending this to collection? wHAT CAN THESE PEOPLE DO?
Can the American people SUE the AIG executives who got these salaries? Sue them for negligence, culpability, something?? Sue them for more than what their "bonus" was for?
The government need to fire The board and the CEO of AIG. He is responsible for everything for the company going down and bonuses, and If he is still in charge we will find another way to give bonuses. the botom line is he need to go, then we might see some profit from AIG and the tax payer might see some profit in there investment.
Thanks
MIke
PLEASE!!! Stop with all the NEGATIVE REPORTING!! This situation will not get any better if everytime we go to CNN, there is a DOOM & GLOOM analysis going on. Surely there must be some equallty inspiring POSITIVE stories out there??????????
The outrage from Washington over the bonuses paid to the now taxpayer-dependant AIG seem a bit disingenuous considering that bothe the legislative and executive branches of our government just a few days ago saw to it that the omnibus spending bill with 9,000 or so "earmarks" was signed into law. This omnibus bill was reluctantly signed by the new President citing the fact that the bill was passed before he took office, his veto power apparently not yet fully understood. AIG's argument is eerily similar: the bonuses were contractually in place before the bailout and therefore were unavoidable, their understanding of contract renegotiation apparently not yet fully developed. Finally, a question: does it serve the citizenry for news organizations to "lead the pack" in inciting outrage against AIG, a huge conglomerate that we have no real weapon against when we were effectively told just days ago that the omnibus bill had to be tolerated and we should just move on when we do have redress against government through the ballot box.
The Information Technology Giants (IBM, Dell, HP, etc.) have exported hundreds-of-thousands of jobs to India. The President promised to eliminate the benifits of outsourcing our jobs. If we are to get out of this mess and pay the nation's debts, we have to keep these great jobs here!
So, whats our goverment doing to bring these jobs home?
Worried IT Contractor in NC.
I have decided to move my business from AIG I have term insurance with them and am discusted that they are rewarding not punishing these CEOs for bad performance.
I would be fired for doing what they did what happened to performance pay this is sending the wrong message to our youth and corporate America saying do your worst it isn't your money anyway so who cares.
The way I understand it mortgages sold by banks were "bundled" into groups containing a mixture of risk. These "bundles" were then "securitized" and sold with insurance know as "CDO's" ( Credit Default Obligations) and "CDS" (Credit Default Swaps)These "securities" would not have been marketable without insurance backing. AIG insured these CDS and CDO's. Now the banks are cashing in on these policies.
If AIG goes under there will be no one to pay the insurance, hence the banks will fail. That is why AIG needs to stay afloat.
Yes, paying bonuses was a monumentally bad decision. What did anyone expect since the same group of greedy management incompetents was still in charge?
Kiran – I am a constant viewer who appreciates the even-handed and usually respectful way you treat your guests and manage the conversations, but this morning you really were a disappointment in the segment with Slesinger (sp). She had a point that really needs to be listened to and you and your other guest were disrespectful and thereby missed the opportunity to learn something. You owe her an apology and a chance to make her point. Not to excuse the AIG fiasco at all, it is a symptom of a larger problem – the way most of the executive incentive contracts are written across many industries today and in particular across the financial services industry. Yes, let's find a way to stop the injustice at AIG, but let's do our job and start the process of changing the way we incent all of our top executives or we will just move from AIG to the next one. If you rerun that segment, I don't think you will be proud of the way you conducted it.
Can we boycott paying our taxes this year if we don't like the AIG bonuses? Who had even heard of AIG before the stupid commercials started a few years ago?
I would hate to put more money in someone's pocket, who already had 10 times more than "Joe Public".
http://twitter.com/yeagerhood
red flag...that AIG chose Ed Liddy as CEO says volumes.....
ALLSTATE is adversarial to cosumers, taxpayers, and their customers.
.ALLSTATE became that way while Ed Liddy was CEO of ALLSTATE...
.........................there is a pattern here!!!!!!!
I watch your show just about every morning. Thanks for the great work.
Regarding Ms Cohen's piece on medical coverage...I understand the point that loss of jobs means less medical care and the follow-on effects. I think the example (colonoscopy) she cited indicates a much larger issue. I worked for a large company with an excellent medical plan. My insurance paid $72 of the physician's $860 fee for the colonoscopy recommended by my PCP. Fees for the the clinic and other attending doctors were similar. Even with insurance, it's hard to afford this preventive treatment.. The issue is that the medical fees and insurance premiums are outrageously high, but the insurance coverage is outrageously low. Insurance or not, we need control of medical costs.
Thanks, again.
Kiran and John,
The exchange between Ryan and Jill was an absolute disaster. Giving her space to blog is not an appropriate "fix." Frankly, this segment sank to a true LOW against the normally high standards set for interactions and civil discussion, with an airing of all sides of issues, on your heretofore excellent show. We look forward to the show each morning here in our household, but if ever (EVER) any one of us witnesses something like this again, we will simply turn off (we have already abandoned all other options for the very reason noted above (lack of civility and fair coverage). I know it does not matter but for your own information no one here enjoys a lot of money, but everyone in this family has an excellent education, learns to debate, and speaks well. At our table if anyone interrupts the family discussion, either my wife or I shuts down the discussion for moment and then restarts it but with the offending party silenced for a set period of time. Maybe, Kiran, you and/or the director should have done the same.
Kiran's interview re: AIG debacle was poorly conducted. Her job as interviewer is to bring to light the opinions of both sides. She did not make way for Ms. Slesinger to state her point, which is why she was invited on the show. An absolutely ridiculous interview. Kiran's failure makes her, and CNN appear biased.
A.G.I. and the toxic executives .if these people are the cause of our fix were in then why do they still have there jobs . why does the president of the company still have his job . they have clearly demonstrated that there all incompadent at what they do . we would be better off with the three stooges running things .
I would like to know if we as taxpayers are now into AIG for 80% don't we have a say on who stays and how the money gets spent? From what I'm hearing all over the news we own 80% of AIG now. Am I correct in my observation and if so do we as taxpayers have any recourse? Thank you!
Why don't we as taxpayers file a class action lawsuit against these greedy jerks to get OUR money back? Let them sue! Then we could have a jury trial and let a jury of their peers decide if they get to keep any of their millions and, if so, how much?
One more thought - I'm all for a higher education, don't get me wrong! But there has been such a push from companies to hire college graduates - maybe these "smart" folks should be replaced or led by somebody with some common sense!
I am very concerned that the President's new website Recovery.Gov is not really telling us where our taxpayer money is flowing. I would like some clear answers.
I have produced hundreds of commercials and sales videos for real estate related businesses. Too often the VICTIMS are being blamed for the problem.
Most banks have always adhered to good lending practices, but many unscrupulous MORTGAGE BROKERS were advertising ARMs, non-qualifying loans and other dangerous instruments to less-than-sophisticated home buyers. The buyers didn't really know what they were getting.
Congress didn't help when they gave they credit card companies free rein to rob their customers between 2004 and 2006.
@ Philip Carney
ARM's are part of the problem but Credit Default Swaps were the killer. AIG holds virtually 100% of the Credit Default Swaps and they do not have the reserves to cover the pay out on those CDS's when they went into default. That is what took them down.
What can ordinary Americans do to help communicate our disgust about how AIG is arrogantly thumbing their nose at us by rewarding the upper echelons of their culture of greed and corruption. I didn't get a bonus for holding the mutual funds that were invested in AIG on the contrary I lost my shirt. I didn't get a bonus for continuing to pay my mortgage when my house's value plummeted. How do we get the message across that we will not tolerate this egregious affront to our intelligence? How can we rise up in a grass roots revolt against this obvious and flagrant fiscal abuse. Can we vote with our feet by canceling insurance policies? How do we identify AIG instruments and services we are consuming without even knowing it? Can we contact our own companies to encourage them to drop AIG coverage? How do we support our President in expressing our outrage?
The AIG story has not run it's course. The idea that there is nothing we can do is ridiculous. I urge you to continue to add value by informing Americans of their options.
I actually received a "Cold Call" from AIG yesterday...of course, I hung up immediately...without explitive...by shear force of will...What about the concept of profit sharing?...when the company does not produce, the employees (management especially) do not get "bonuses" or retention payments....they take a cut...Who would want to retain people...i.e. in London...who caused the failure?!?! With AIG, if that ship has sailed, the 100% tax on the $165 million sounds great!!!! ....AND the next request for funds should be severely scrutinized with the real possibility of denial...
If the US gov't is the largest shareholder of AIG is a true statement, why can't the government call an emergency stock holders meeting and get this resolved?
Apparently corporate execs for publicly held companies are unable to contrrol their greed. Its time government set pay ratios for all publicly held companies SUCH AS each level of management compensation can be a maximum of twice that of those they manage. If business people don't like it they can operate as a sole proprietor. To get a pay raise at the top everyone under them would also get a raise. If they have cash left over give it to the share holders you know dividends instead of making themselves million aires.
Why would you pay a retention bonus to an employee that contributed to the failure of AIG? Well if it is a contract, then pay them and terminate their services. Hire new people. I can promise you there will be many waiting to take those jobs. Now if the company becomes profitable then pay reasonable bonuses and if it is not profitable then no bonuses should be paid.
If AIG is to big to be allowed to fail, why doesn't the government take them into court like they did AT&T years ago when they broke them into the smaller BABY BELLS? Break AIG into smaller specialized units that can once again compete for business and to turn a profit.
AIG begs US for money to keep them AFLOAT. If things are so tight at AIG that they can give these bonuses they must now be AWASH in billions of $'s. So they NOR ANYONE ELSE EVER should get another dime because they just keep looking for ways to pay themselves more money.
We say no more "performance" bonus for nonperformance, Then they switch to "retention" bonus to keep the same rotten eggs.
If they have a contract to be paid this money, the one sure way to NOT get paid is for the company to FAIL then they can get the same bonus most Americans are getting, $325 weekly retention bonus to be retained on the unemployment rolls.
Now this is kind of cool CNN is finally doing this for the viewers. It took you a while and you guys/gals are really brave to opening up the flood gates.
Hi guys I am a canadian business owner who depends on a healthy U.S. Economy the situation at AIIG sickens me the comment that they have to pay these bonuses or lose these guys my question is where do they think these guys will go there isn't a lot of call for "losers" out there If these guys were at my company I would say go please quickly!!! If the people who would receive these bonuses had any decency about them they would do the right thing and refuse the bonuses. Thanks wade nova scotia
Frankly I'm tired of the poor news on CNN and Worse CNN's Headline News channel. Not that the news itself is poorly covered or not informative. My issue is that we know things are bad, but show us more of what's good!!!! I live in a state with a balanced budget. A city that's economy, while not hot, is good. Your story on Maryland was great! Lets see more!
On the AIG bonus there are two issues a) contract and b) professional responsiblites.
On point a) AIG does have a contact issuse and has probably look into the legal aspect of this and may not have any option to pay the bonus.
On point b) AIG staffers professional ethics are the real issuse. During this current global ecomonic situation and the US bailout monies provided to AIG they should not be taking these bonus because without the bailout they would be unemployed.
What I would like to know is: #1 Why are the execs at AIG (and other Wall Street firms) getting bonuses instead of being prosecuted for their crimes? Ofcourse, these execs are the cream of the crop, they know how to rip us off and make themselves rich. Which ought to be a crime if it is not. #2 Why have there been no firings at the SEC? These people showed their ineptness (by letting this mess happen) and yet they are still the ones "looking out for us" when it comes to investments! Unbelieveable!
The employment prospects aren't that gloomy for those past and current AIG top cats. It's actually crop season here in Barbados and we are always looking for help harvesting the sugar cane. And if they'll stick around long enough maybe we'll get some help with the cotton crop too.
Not sure if our year round warm weather and pristine turquoise blue ocean and powdery sand white beaches can match those undeservedly mammoth bonuses though.
Just wanted to let you know that the "stimulus" came in my last paycheck. A whole 8.30, now I can eat out at McDonalds, oh, wait... the new federal taxes on cigarettes just ate that up. Give with the left hand and take with the right. Disillusioned with the current administrations feeble attempt to middle and low income Americans?? You bet.
Let AIG FAIL! Get rid of them, replace the current AIG executives with quality people and call it a day! In fact, I'll do it and know I can do a better job than the current AIG execs.
Congressman Grassley's comment urging people to resign or commit suicide is so far beyond the pale I am shocked that it is being reported as if it were a logical course of action.
Resignation, sure – but encouraging people to take their own life? Disgusting.
Good Morning Gerry, Last night Judge Judy, while on Larry King, asked what about Chapter 11 for AIG . Wouldn't that protect them against legal consequences when breaking "those contracts"?
Restore confidence in future of financial institutions:
ARMs got us in this trouble so...
1 – Outlaw ARMS in the future
2 – Force current ARMs to be converted to fixed rate in one year.
how much more obvious could it be?
I keep listening to all the fixes that are on the air but the real reason much of this has happened seems to stem from American companies who moved their manufacturing off shore to make more profits. I have watched plants close and people lose their jobs over the past 10years. I am visiting Syracuse and everytime I pass the Carrier Air Conditioner plant all I can think of is how many people lost everything so this comapny could make more $$. Not everyone can be an executive or a computer programer. DId these companies believe that they could sell their goods to these same people who now have no way of paying for them, much less pay for a home they purchased because they believed in the American dream of a stable job. Small business while a great enterprise cannot fill the void these manufacturing facilites provided. How can we encourge these companies to re-invest in American which made them successful.
Shouldn't CNN be reporting that the top executives have foregone their bonuses and that the bonuses are for lower level execs?
The reason AIG is saying that we can't stop paying those bonuses is because it is the same people that get that bonus that are writing the contract and signing those check, OBAMA promises us he would make sure that this would not happen and that we would see this money back. What now, I think we are just towing money in the toilet. and we will lose it all anyway because they are going to fail, I say give the people those billion and let the big guy fail, if you make the calculus that bail out money would give us close to a million dollar to each household, we would be all millionaire and we could all retire and pay our mortgage. I am really fed up with these guys.
What a joke to have congress being outraged!!! They are the stupid jerks that set up this BS. They "GAVE" the 170+ billion with no strings attached. I have a son that has an ARM that has gone from 6% now headed up to 12%. Since he pays every month they will NOT renegotiate it. OF course the out of country group that collects on the loan give him all kinds of stories.
Very simple – we own the company – anywhere that money went they are required to adjust existing loans down to current levels. If not, AIG is put into bankruptcy.
We have leverage with these AIG contracts. Defenses to honoring a contract consist of "frustration of contract" and "impossibility of performance". They both are taught in first year law school contract courses. Get Real AIG!
I have been envolved in real estate development and real estate sales since 1983 when interest rates were 17% for a mortgage.
I have never been so mad and frustrated as an American citizen. I have paid taxes, conducted my business in an integrous manner and now my tax money and my childrens future are being given to companies (especially AIG, many Banks-too many to note here) and they are using this money in a totally irresponsible way. I am not getting my tax money back, I am not getting mortgage relief. I am disgusted that we continue to be politically correct in how we discuss the fact that actual crooks are wasting our money aka AIG and Others.
I have no faith in our government, and no faith in our political officials.
I am TOTALLY OUTRAGED about this AIG bonus story. I am most outraged at our government. It was Congress and Hank Paulson that put NO CONDITIONS on companies receiving the bailout money. Only part of the blame is on the AIG execs.
More pressure needs to be put on Congress and the President to have conditions on ALL OF OUR MONEY that goes to bail out anyone – states included.
If you gave a teenager a Ferrari on a long open road, would you expect him to go the speed limit?
Perhaps AIG should have $165M in layoffs and the ones that can pickup the slack, the bonus winners. Why is this company exempt of layoffs when things go bad? Why aren't we seeing protesters picketing this company....oh it's not the 1960's, we've become too passive.
Patrik
I, like a large number of other IBM / Tivoli employees were laid off in February. I was one of the luck ones and managed to find a job immediately. I was living in Louisiana and had to move to Houston to take this new job. I lost $37k in salary and will most likely lose my home to foreclosure if we cannot sell it. We are leasing now. My question is: if we have to go through foreclosure with an 800 credit score what, if anything, is anyone doing to work with Experian etc to see that recession / depression era situations do not adversely effect you credit score and place you in a really bad position for buying to new property, autos etc.
Thanks
Steve
I am furious over the AIG bonus situation. If the administration's hands are tied as far as preventing bonuses from being paid out to AIG employees as a whole – why not put individual pressure on these recipients? Let's have some investigative journalist obtain a list of these recipients with the amount received and make the list PUBLIC. I imagine once the list is made public – the shame these execs would feel from their friends, neighbors, and others – might be enough to get some to make an individual decision to give the money back. At the very least it will give a face to this whole deplorable situation.
So am I to understand, from Ms. Romans' response to the question about where our stock money goes, that we are to ignore that question? That seemed to me to be the "apple" analogy–it's going somewhere, but you don't need to worry about where. Isn't that what got us in trouble in the first place? Isn't this what Jon Stewart got mad at CNBC for? Isn't that what people are upset about with the AIG bailout? Isn't that the epitome of lack of oversight? Isn't CNN, and the rest of the media, supposed to be doing? What happened to the maxim of investigative journalism from the Watergate era–follow the money?
Any company that's too big to fail should be treated as a monopoly allowing the government to break apart just as they would a monopoly. Has this ever been considered?
Bill
I believe the government, including my friend Bush, hasn't implemented neccessary steps in controlling the funds paid from bailout, which neccessarily led the people believing the bonuses are wrong. If the funds are used to pay debt, then they need payoff the debt. If its used for operation of the company, the government cant cry that the execs. are getting bonuses. Also you have legal and corporate laws and so many legal employment regulations thats made it so confusing.The government should have fixed that problem before lending money for the bailout
Are you kidding me? Our U.S. economy is based upon idiot executives at AIG getting their bonuses? That's what one of your colleagues said about 5 minutes ago in response to a viewers questions that asked"what if AIG didn't get this ball out money to pay exec bonuses?" Please give me an AIG exec job and give me a bonus for doing nothing!
AIG should consider a small change in thier acroname: AIG = Amazing International Greed
Ok, you might disagree at first but hold on......I do think that the AIG bank employees should get the bonuses that is stated in the contract, legally, it's theirs. But here's where the tricky part comes in. The contract most likely is design or stated that the bonuses will be handed out with the copany's capita and/or profit and scince it's the taxpayers money, not the companies's, the bonuses should not apply. AGAIN IT'S TAXPAYERS MONEY, NOT THE COMPANY'S.
Greetings,
Am I the only one who is deeply concerned with the Democratic complacency I see in terms of positions and policy coming from the current administration.
The Obama administration seems nonplussed regarding aggressive rhetoric coming out of North Korea, not to mention the posturing between Russia and Venezuala.
That coupled with the apparent inability to tighten the belt on the AIG leaves me with one recommendation.
The Dems need to adopt a much tougher position on domestic and foreign policy.
Where the heck is sherrif Biden?
Oh,,,and congrats to John Roberts on his induction to the Canadian Broadcasting Hall of Fame!
HOW CAN THE CEOS WHO RECEIVED THE BONUS SHOW THEIR FACES? IF THEY HAD ANY MORALS THEY WOULD RETURN THE MONEY OR DONATE IT TO CHARITY. THEY OF COURSE WILL NOT DO EITHER BECAUSE THEY ARE SELFISH AND DON'T CARE ABOUT THE STRUGGLING CITIZENS OF THIS COUNTRY. WE SHOULD GO AFTER THEIR ASSESTS LIKE WE ARE DOING FOR SOMEONE ELSE WE KNOW WHO SCAMMED INVESTERS.
I am Commercial Mortgage Advisor in Houston Texas who been directly affected from the Financial Crisis. The government should not hold executives and the management who receive the bonus on a predetermined basis stop the bonus unless its wrong doing. Many Executives have worked hard and went to school a very long time to secure positions, and the backbone of our financial system.