The coming financial crisis

ice grillin you · March 17, 2009, 02:56:02 PM

seriously that is a joke....one of the completely bogus reasons to give them bonus money is so that they they dont leave...and they are gone anyway...

the reasons to not give them money remind me of all the dire y2k warnings...all these completely made up and hypotheitcal doomsday scenarios none of which ever happened....which is exactly what would happen if these people didnt get bonus money...absolutely nothing

PoopyfaceMcGee · March 17, 2009, 03:00:49 PM

Well, more of them might have left, but would the company be any worse off?

Still, this issue is clouding much more important issues surrounding the AIG bailout, including it being basically a front for Hank Paulsen to bail out his buddies at Goldman.

ATV · March 17, 2009, 03:12:20 PM

Yes, it probably is clouding bigger issues, but this is simply the sort of thing that the governement used to be able to watch over on a daily basis, without nearly as much media attention. At the very least I'm happy to have a government that's on top of this.

reese125 · March 17, 2009, 03:16:07 PM

you also have a govt that is crying up a storm about AIG "wasting tax payers dollars"

all a bunch of two-face, hypocritical crackheads

ice grillin you · March 17, 2009, 03:18:00 PM

Quote from: FastFreddie on March 17, 2009, 03:00:49 PM
Well, more of them might have left, but would the company be any worse off?

Still, this issue is clouding much more important issues surrounding the AIG bailout, including it being basically a front for Hank Paulsen to bail out his buddies at Goldman.

why is hank paulson bailing out his buddies any better or worse than all these aig guys getting ridiculous bonuses...i dont care about either...but its laughable how you treat these guys bonus clauses as sacred and yet the govt bailing out goldman sachs or aig is a huge issue

PoopyfaceMcGee · March 17, 2009, 03:27:58 PM

It's worse because of the sheer volume of money.

If you weren't upset about Obama with the earmarks, you shouldn't care about these bonuses.

ice grillin you · March 17, 2009, 03:47:50 PM

i dont care about either....i just like to laugh at you defending bonuses for rich guys but being pissed at govt bailouts

Seabiscuit36 · March 17, 2009, 03:56:57 PM

Quote from: ATV on March 17, 2009, 03:12:20 PM
Yes, it probably is clouding bigger issues, but this is simply the sort of thing that the governement used to be able to watch over on a daily basis, without nearly as much media attention. At the very least I'm happy to have a government that's on top of this.

LOL, on top of it? Gimmie a break

rjs246 · March 17, 2009, 04:32:46 PM

RE: AIG

The very fact that they are contractually obligated to pay 'bonuses' means that they aren't really bonuses in the first place. They are a part of the salary.

Now, the UAW renegotiated their contracts down, and something like that might be appropriate, but breaking a legal contract is bad news.

ATV · March 17, 2009, 04:35:49 PM

They're not on top of it? I think one could argue they're ridiculously on top of this particular one. As is the media.

On top of other similar sorts of giveaways? No, not yet at least. I'm sure all sorts of this stuff has been going on. I'm hoping it will expand. We'll see.

Seabiscuit36 · March 17, 2009, 04:37:47 PM

The Media, yes. The government is not sir. Are they moreso than the past 8 years yes. But no where near where they should be. That said, i love Bernake.

PoopyfaceMcGee · March 17, 2009, 05:28:57 PM

Quote from: ice grillin you on March 17, 2009, 03:47:50 PM
i dont care about either....i just like to laugh at you defending bonuses for rich guys but being pissed at govt bailouts

I'm not defending the bonuses. I'm saying that fighting them at this point is a waste of resources.

ATV · March 17, 2009, 06:03:45 PM

QuoteBut no where near where they should be.

I don't disagree, sir.

Diomedes · March 17, 2009, 06:40:42 PM

Quote from: rjs246 on March 17, 2009, 04:32:46 PMNow, the UAW renegotiated their contracts down, and something like that might be appropriate, but breaking a legal contract is bad news.

You bring up a key point here. The bulk of union contracts that are being "broken" are actually being renegotiated willingly by both parties. That's very different than stripping citizens of their legal contractual rights, as odious as the contracts may be, which is what people are now calling for with these AIG dirtbags.

Rome · March 17, 2009, 07:06:05 PM

Another way to look at the bonus thing is that there are salespeople who actually do a great job and earn them. If they don't get the bonuses they've earned they'll simply go to a foreign company who does provide them. The remaining scrubs will pull the company down further and then we'll be faced with an even bigger mess this time next year.

Paying bonuses might not be politically correct right now, but from a business standpoint, it does make sense especially if they've earned it.