Posts Tagged ‘AIG’
Courtesy of WikiCommons
Yea, about that money we lent you… “AIG Promises to Return Bonuses Have Gone Largely Unfulfilled”
Hold the phone… “Plan to Move Guantanamo Detainees Faces New Delay”
We’re just sayin’, we wouldn’t mess with this guy:
A man who walked into a Michigan diner with a 5-inch knife stuck in his chest ordered a coffee and complained only about the cold weather.
Bleeding-heart fourth graders write letters to AIG!
Pirates re-ignite debate… Should ships arrrrrm themselves?
After feverishly analyzing a mountain of brain-numbing economic bad news, the crack “Recession Rangers” here at USDemocrazy have come to a startling conclusion: There is a mountain of brain-numbing economic bad news out there.
Thank goodness for us, there are smart guys like Treasury secretary Tim Geithner out there doing something about that mountain.
Yesterday, he unveiled chapter 2,1654, 765a of the Obama economic rescue plan and it looks… well… kind of good! (So we are told.)
The plan has something to do with buying “toxic assets” using both private and public funds… The brainy folks at the Wall Street Journal explain how to kick these assets here.
So will Treasury Tim’s plan work?
The Daily Beast has put together a neat little page here where some very smart guys debate this point. (One pundit, Paul Krugman should not be allowed in any room that contains both Mr. Geithner and any sharp objects or staplers).
Apparently Geithner has more rescue tricks up his sleeve. He has also asked Congress for new powers. (We immediately thought of laser vision and the ability to apparate…). Rather boringly, he is only asking for new powers to regulate “non-bank financial institutions.” According to this Washington Post article, those new powers are actually quite important. The guys at Politico also weigh in on the same subject here.
So Mr. Geithner attacking the mountain of bad news with gusto. As The Economist points out (here), Mr. Geithner is using his marbles to play for all the marbles!
Gaga for arugula! We guarantee that the White House garden will be better than yours.
Read my lips: LOTS OF TAXES!
Relationship troubles… The Fed and the Obama guys are keeping secrets.
Because you really do care… Someone on “The Office” is preggers?
We at USDemocrazy are happy to announce that we have decided NOT to give out bonuses to our staff this year…
We thought that might be a popular move, as it seems ALL of America is against bonuses right now. (Except of course, the staff at USDemocrazy.)
The cause of America’s outrage is mega insurance company AIG. It has been caught doing some naughty things with taxpayer’s money and NO ONE IS HAPPY ABOUT IT (except the hundreds of AIG employees who received $165 million in bonuses recently).
The problem with these bonuses is:
1) AIG Lost a staggering $61.7 billion in that last quarter of 2008 (a record).
2) Taxpayers bailed out the faltering AIG to the tune of $170 billion.
3) Despite AIG ’s clear failures, the company decided to reward bonuses to staff with the taxpayer funds.
Taxpayers are rightly ticked off and are demanding action from their foks in Washington.
The Obama administration is quickly trying to find a way to block/stop/steal the funds back from the Bonus Baddies. There are thorny legal issues involved and serious political ones as well.
Tim Geithner, Obama’s Treasury Secretary may even lose his job over this “Bash the Bonuses” frenzy.
How do you feel about these bonuses? Send us your thoughts. Or send us food… without their annual bonuses, the staff at USDemocrazy may be in need of any and all assistance.
It’s all about AIG…and boy could it be expensive!
Team to tackle tumultuous task… of Health Care!
Would you like fries with… your Miranda rights?
Budgets… bonuses… banks… bailout… borrowing… bankruptcy… They’re all BIG issues on Obama’s BIG economy plate. (His hopeful eyes must be bigger than his economy-sickened stomach.)
Yes, President Obama’s got a lot of money talk going on.
And soon, Obama will be on the road again (what a great song!) doing some campai — er, we mean normal, regular old town hall meetings in California.
He’s even got a date with Jay Leno and his “Tonight Show,” making him the first sitting president to appear on the talk show. (But he did go on during the campaign…)
To help pass his budget, Obama called upon his campai — er, actually his normal, regular old supporters to phone and write their Congresspeople and neighbors to garner support for the President’s proposal. This all sounds a lot like the permanent campaign, like we talked about a couple weeks ago.
If all that weren’t enough to keep the poor guy busy, AIG has been acting up again. AIG decided that they were legally obligated to give some of its Bosses employees “retention” bonuses, totalling $165 million.
Naturally, taxpayers are up in arms. And so is Chris Dodd, ever the taxpayer vigilante. “We can tax the dang bonuses!” he says. (Okay, you caught us, that’s not a direct quote…) We’ll see. However, Forbes seems skeptical that all this anger will last long, because fickle as “the public” are, we’ll all get over it.
Or we’ll just keep putting the pressure on Obama and his staff until the White House literally cracks in half.
