Finally a US Senator Said something that we have all been waiting for: AIG execs: Resign or commit suicide

[Qianglong]

Well, that guy sure did gained my respect!
http://ca.news.yahoo.com/s/reu...litics_us_aig_grassley

Finally something what we all wanted to hear!

"The first thing that would make me feel a little bit better toward them (is) if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide," Grassley said.

"And in the case of the Japanese," he added, "they usually commit suicide before they make any apology."

 

[effowe]

Seppuku

 

[DarrelSPowers]

Originally posted by: effowe
Seppuku

This.

 

[Demon-Xanth]

Originally posted by: DarrelSPowers

Originally posted by: effowe
Seppuku

This.

That.

 

[uhohs]

SEPPUKU TIME

 

[SphinxnihpS]

The people that voted for him must be so proud...

 

[CPA]

I wonder if he's going to ask Geitner to commit suicide, since he was with the FED when AIG's bailout package was put in place.

 

[Linflas]

Funny, that is the same advice I would give to most of those worthless gasbags in Congress with their faux outrage and theatrics, especially Barney "Elmer Fudd" Frank.

 

[CrazyLazy]

Originally posted by: Demon-Xanth

Originally posted by: DarrelSPowers

Originally posted by: effowe
Seppuku

This.

That.

That kid needs some help. Committing suicide is never the answer.

 

[oiprocs]

I just want their names revealed because I know there are individuals in America crazy enough to commit acts with intent to harm.

 

[Jeeebus]

The man is part of a Congress that approved these idiotic no-strings-attached bailout packages and is now expressing outrage that the companies to which the money went are doing with it as they please.

 

[SphinxnihpS]

This is a bunch of politicos who don't understand SALES and INDEPENDENT CONTRACTING, taking advantage of the public outrage over the economy and scapegoating people who were promised and earned those "bonuses" for completing sales objectives.

The "bonuses" are paid to people who sold something for selling it. The size of the "bonus" is FAR overshadowed by the amount of capital those folks are bring in. THESE ARE NOT AIG EXECs (employees of AIG), getting bonuses, these are independent contractors to whom AIG has a contractual obligation to pay.

Everyone crying foul here is an idiot. Gee what a surprise, Obama is a clueless nincompoop!

If you want to be mad at AIG over something, be mad at them for how they cooked the books. Those ARE AIG employees who did that. AIG's problem is not how they structured their sales compensation, which is TOTALLY IN LINE WITH ALL OTHER INSURERS.

Get a clue before you get yourself all worked up over something you do not understand.

 

[SphinxnihpS]

Originally posted by: Jeeebus
The man is part of a Congress that approved these idiotic no-strings-attached bailout packages and is now expressing outrage that the companies to which the money went are doing with it as they please.

Also this. LOLOLOLOL

 

[mundane]

Originally posted by: scorpious
I just want their names revealed because I know there are individuals in America crazy enough to commit acts with intent to harm.

If no one has moved against Madoff (even with his protection), I doubt people will pursue the execs with any real determination.

 

[Modelworks]

I think we need to go old school with this.
Put them in stocks in times square.

 

[JS80]

Originally posted by: SphinxnihpS
This is a bunch of politicos who don't understand SALES and INDEPENDENT CONTRACTING, taking advantage of the public outrage over the economy and scapegoating people who were promised and earned those "bonuses" for completing sales objectives.

The "bonuses" are paid to people who sold something for selling it. The size of the "bonus" is FAR overshadowed by the amount of capital those folks are bring in. THESE ARE NOT AIG EXECs (employees of AIG), getting bonuses, these are independent contractors to whom AIG has a contractual obligation to pay.

Everyone crying foul here is an idiot. Gee what a surprise, Obama is a clueless nincompoop!

If you want to be mad at AIG over something, be mad at them for how they cooked the books. Those ARE AIG employees who did that. AIG's problem is not how they structured their sales compensation, which is TOTALLY IN LINE WITH ALL OTHER INSURERS.

Get a clue before you get yourself all worked up over something you do not understand.

normally you'd be right but the bonuses in question are to the financial products division which managed to completely flush all their business down the toilet by making extremely risky bets with no collateral to support it. These aren't bonuses to the top life insurance salesmen.

 

[oiprocs]

Originally posted by: mundane

Originally posted by: scorpious
I just want their names revealed because I know there are individuals in America crazy enough to commit acts with intent to harm.

If no one has moved against Madoff (even with his protection), I doubt people will pursue the execs with any real determination.

Hmm. Good point. Maybe we need to force people to watch Jon Stewart's dismantling of Jim Cramer (though he isn't the culprit).

If that doesn't get the loonies riled up, 🙁.

 

[SphinxnihpS]

Originally posted by: JS80

Originally posted by: SphinxnihpS
This is a bunch of politicos who don't understand SALES and INDEPENDENT CONTRACTING, taking advantage of the public outrage over the economy and scapegoating people who were promised and earned those "bonuses" for completing sales objectives.

The "bonuses" are paid to people who sold something for selling it. The size of the "bonus" is FAR overshadowed by the amount of capital those folks are bring in. THESE ARE NOT AIG EXECs (employees of AIG), getting bonuses, these are independent contractors to whom AIG has a contractual obligation to pay.

Everyone crying foul here is an idiot. Gee what a surprise, Obama is a clueless nincompoop!

If you want to be mad at AIG over something, be mad at them for how they cooked the books. Those ARE AIG employees who did that. AIG's problem is not how they structured their sales compensation, which is TOTALLY IN LINE WITH ALL OTHER INSURERS.

Get a clue before you get yourself all worked up over something you do not understand.

normally you'd be right but the bonuses in question are to the financial products division which managed to completely flush all their business down the toilet by making extremely risky bets with no collateral to support it. These aren't bonuses to the top life insurance salesmen.

Ah... well those guys should proceed to the nearest car fire and jump on in.

 

[Linflas]

Originally posted by: JS80

Originally posted by: SphinxnihpS
This is a bunch of politicos who don't understand SALES and INDEPENDENT CONTRACTING, taking advantage of the public outrage over the economy and scapegoating people who were promised and earned those "bonuses" for completing sales objectives.

The "bonuses" are paid to people who sold something for selling it. The size of the "bonus" is FAR overshadowed by the amount of capital those folks are bring in. THESE ARE NOT AIG EXECs (employees of AIG), getting bonuses, these are independent contractors to whom AIG has a contractual obligation to pay.

Everyone crying foul here is an idiot. Gee what a surprise, Obama is a clueless nincompoop!

If you want to be mad at AIG over something, be mad at them for how they cooked the books. Those ARE AIG employees who did that. AIG's problem is not how they structured their sales compensation, which is TOTALLY IN LINE WITH ALL OTHER INSURERS.

Get a clue before you get yourself all worked up over something you do not understand.

normally you'd be right but the bonuses in question are to the financial products division which managed to completely flush all their business down the toilet by making extremely risky bets with no collateral to support it. These aren't bonuses to the top life insurance salesmen.

Well then it seems to me that the stupidity lays not only with them but also the idiots that came up with a contract that pays bonuses for bad performance and the idiots that handed over public money to the company without demanding that these contracts be nullified as part of that hand out.

 

[FelixDeCat]

Originally posted by: SphinxnihpS
This is a bunch of politicos who don't understand SALES and INDEPENDENT CONTRACTING, taking advantage of the public outrage over the economy and scapegoating people who were promised and earned those "bonuses" for completing sales objectives.

The "bonuses" are paid to people who sold something for selling it. The size of the "bonus" is FAR overshadowed by the amount of capital those folks are bring in. THESE ARE NOT AIG EXECs (employees of AIG), getting bonuses, these are independent contractors to whom AIG has a contractual obligation to pay.

Everyone crying foul here is an idiot. Gee what a surprise, Obama is a clueless nincompoop!

If you want to be mad at AIG over something, be mad at them for how they cooked the books. Those ARE AIG employees who did that. AIG's problem is not how they structured their sales compensation, which is TOTALLY IN LINE WITH ALL OTHER INSURERS.

Get a clue before you get yourself all worked up over something you do not understand.

You are the clueless one. They booked phony sales on bogus contracts with inadequate reserves. They should go to jail as a bonus.

NY AG Cuomo is right, these sales were fraudulent and they are trying to profit from an illegal enterprise.

Those bastards shouldnt get a cent. If they want it, let them sue. They will lose.

 

[alkemyst]

people are confusing commissions with bonuses.

Commissions are part of base compensation more or less. Bonuses go over and beyond.

If a company needs a bailout they don't need salaries at any level over what the President makes.

 

[JS80]

Originally posted by: Linflas

Originally posted by: JS80

Originally posted by: SphinxnihpS
This is a bunch of politicos who don't understand SALES and INDEPENDENT CONTRACTING, taking advantage of the public outrage over the economy and scapegoating people who were promised and earned those "bonuses" for completing sales objectives.

The "bonuses" are paid to people who sold something for selling it. The size of the "bonus" is FAR overshadowed by the amount of capital those folks are bring in. THESE ARE NOT AIG EXECs (employees of AIG), getting bonuses, these are independent contractors to whom AIG has a contractual obligation to pay.

Everyone crying foul here is an idiot. Gee what a surprise, Obama is a clueless nincompoop!

If you want to be mad at AIG over something, be mad at them for how they cooked the books. Those ARE AIG employees who did that. AIG's problem is not how they structured their sales compensation, which is TOTALLY IN LINE WITH ALL OTHER INSURERS.

Get a clue before you get yourself all worked up over something you do not understand.

normally you'd be right but the bonuses in question are to the financial products division which managed to completely flush all their business down the toilet by making extremely risky bets with no collateral to support it. These aren't bonuses to the top life insurance salesmen.

Well then it seems to me that the stupidity lays not only with them but also the idiots that came up with a contract that pays bonuses for bad performance and the idiots that handed over public money to the company without demanding that these contracts be nullified as part of that hand out.

My guess is that the "performance" metrics was not based on profitability of the contracts written, but the volume. Keep writing highly risk contracts get your bonus who gives a shit if it blows up attitude.

 

[frostedflakes]

This attitude isn't uncommon in Asian countries. Unfortunately, many Western businessmen have absolutely no shame. I'm sure a lot of them don't even think they did anything wrong.

 

[hiromizu]

There's nothing Obama nor anyone can do about this. Everyone knew this would be a result. In the grand scheme of things, it's not that important anyway.

 

[AreaCode707]

I find it amusing that when the press can choose between outrage at a racial stereotype and Judeo-Christian morality, they choose morality.