A.I.G. Sues Government

[Socio]

Originally posted by: blinky8225

Originally posted by: BriGy86
From what I have heard on talk radio the bonus contracts were made before the bailouts. The stimulus plan that was passed specifically said that all current contracts should still be followed. And now that AIG is following the contracts they agreed to they are catching hell for it.

The bottom line is they shouldn't have been given a bailout to begin with. But the government went ahead and gave them money and screwed up again by not investigating where the money may be going based on current contracts the company had.

It's sounds like AIG is screwed either way. A) they don't pay the bonuses which they agreed to do and get sued for breach of contract or B) pay out the bonuses and get a congressional investigation.

Did you read the article? A.I.G. isn't suing over bonuses. According to A.I.G., the government owes them a huge tax refund. However, they are using bailout money to fund the lawsuit.

What do you want to bet the Government will drop the bonus taxes in exchange for AIG to drop this lawsuit?

 

[JJChicken]

Originally posted by: Citrix
what pissed me off was the tools in congress who totally beat down the current CIO of AIG. he had nothing to do with those contracts or what was in the bill. AND to top it off the tools of congress who grilled him WERE THE ONES WHO FUCKING VOTED FOR THE BILL!!!!.

he should have stood up and pointed at them and said "YOU JACKASSES VOTED FOR THE BILL!!, YOU ARE THE ONES WHO SHOULD BE IN THIS CHAIR NOT ME!!!!"

This. Pretty much all politicians are low-life scum bags, I'm even thinking B-O is one as well :|

 

[theeedude]

So we as owners of this company are suing ourselves? Why don't we order our company to kill the law suit against us?

 

[Martin]

You stay classy, AIG.

 

[Fern]

The AIG bailout issue, and the tax issues discussed above are two seperate matters and should not be lumped together. There's no good reason to do so.

Given the huge losses these companies have had and the NOL carryback rules I'd guess the IRS/Treasury is going to issuing quite a lot in refunds.

Congress better get busy and tax everyone bonuses at 90% to make up for those refunds

Fern

 

[palehorse]

Originally posted by: irishScott
Why can't they just shrink their incomes to say.. 200k a year? It's well above what the vast majority of people make, and they'd get along just fine. I suppose this is a fundamental problem with Capitalism. Unfortunately there's no real better alternatives at the moment.

You're referring ONLY to the executives at companies that receive bailout funds, right? Or, would you support artificial caps on salaries and wealth for the entire population?

Think before you answer...

 

[shadow9d9]

Originally posted by: cubby1223
That's the problem with all this OMG WE MUST DO SOMETHING WITHOUT TAKEN ANY TIME TO CONSIDER WHAT WE'RE DOING!!! Party of "Hope"? More like "Dope". I'll stick with the party of "Nope", thank you very much.

I say this is all just more proof that the IRS needs to die. No one understands the tax code.

AIG was taken over well before Obama took office.. close to 6 months prior. You must know "dope" pretty well.