What a bunch of morons. Obama can whine all he wants but it is my understanding that his administration apporved these bonuses ahead of time. All bonuses that were contractually obligated were to be paid...All AIG is going to get is a good tongue lashing. Which is posturing on that administrations part. The administration let it happen, so they really cannot recoup the money. If they try I am afraid they will be further embarrassed in court. The fucking stimulus was signed into law.
[i]"'(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary."
This amendment provides an exception for contractually obligated bonuses agreed on before Feb. 11, 2009, which exempts the very AIG bonuses Obama is condemning every single chance he gets. The amendment is in the final version and is law.
That's the amendment that Dodd got placed in the Obama stimulus bill. You know, the one that passed with no House Republican votes, and only three Senate Republican votes." [/i]
Don't get me wrong I think there should be no bonuses for execs, because their performance ran the company into the ground, but this adminstration allowed it and signed it into law...They can't do shit about it, it's their own fault...I double-dare them to go to court over it.
Maybe the fuck-sticks should have read the stimulus package?