http://motherjones.com/mojo/2009/03/aig-reveals-creditors-plans-bonuses Comments for "AIG Reveals Creditors, Plans Bonuses" en http://motherjones.com/mojo/2009/03/aig-reveals-creditors-plans-bonuses#comment-153322 This whole mess is really pretty simple. AIG sold insurance contracts to guarantee the bundles of toxic mortgages. This was highly profitable, since they did not even bother to see what they were insuring, and made inadequate provisions against the risks involved. So the same dudes who have just received these bonuses - because they are so critical to the future of the company - have been receiving huge bonuses for years for this groundbreaking idea of insuring worthless paper. The hundreds of billions of taxpayer's money is going to the smart guys who bought the insurance - like Goldmans. The big swinging dicks at AIG took ridiculous risks, because in a public company they were risking the shareholder's money, not their own. The best and only solution is to clear them all out. And to sue them for return of both recent and past payments. pubDate Tue, 17 Mar 2009 07:30:52 -0700 dc:creator jprich guid false comment 153322 at http://motherjones.com http://motherjones.com/mojo/2009/03/aig-reveals-creditors-plans-bonuses#comment-153259 Didn't Jon Stewart ask (last week?) are we were bailing out the banks that are holding the bad loans, as well as AIG the company that was insuring the bad loans? It would seem that we are paying twice... And never mind Liddy's "tied hands" over the bonus issue...lets get the feds into AIG and investigate how a company could sell trillions in financial insurance (CDS) without the ability to pay out against claims--this is fraud! pubDate Mon, 16 Mar 2009 21:46:25 -0700 dc:creator disdaniel guid false comment 153259 at http://motherjones.com http://motherjones.com/mojo/2009/03/aig-reveals-creditors-plans-bonuses#comment-153255 Wouldn't either a reorganization or liquidation of AIG and some of these banks been the way to go? Preferential payments to some creditors made within a certain period are set aside. In a reorganization, executory (not yet completely performed) contracts can be rejected if they might deplete the estate. No bonuses, no wasting money on junkets, bonuses, etc. This is not a full legal analysis by any means. But wouldn't we all be be better off? pubDate Mon, 16 Mar 2009 21:23:05 -0700 dc:creator mcmircle guid false comment 153255 at http://motherjones.com http://motherjones.com/mojo/2009/03/aig-reveals-creditors-plans-bonuses#comment-153230 Obama and Geithner knew about these bonuses long before they were handed out. They could have stopped them. They wanted to hand out money to the rich. This has been and still is a government: of, by and for the rich. pubDate Mon, 16 Mar 2009 18:43:35 -0700 dc:creator stevador39 guid false comment 153230 at http://motherjones.com