Story Comments

Really - Congress and others complaining about bonuses to AIG would be like the Roman Senate arguing whether Nero should or shouldn't have a tin-cup when he fiddled while Rome burned.

Thanks for the article.
Larry B

I applaud this article and its author who I respect. The actions of the government have been a deplorable outrage at best--it has incited an uproar among the American populace leading to death threats against AIG employees. This matter has been blown way out of proportion in comparison to the more pressing problems that need to be resolved by the government in order to get this economy moving again. It is the fault of the government who were not on top of the situation before the AIG bonuses were approved and paid, if you take the time to get the real facts. It is not the fault of the employees who got the bonuses. The idea of singling out these employees who got bonuses and taxing them at 90% is absurd. What other types of laws will the government enact in the future to heap retrubution on special classes of American citizens? I am beginning to wonder if I really live in America anymore.

Why not picket President Obama and members of the Congress who seem to be very adep...(Read more of this comment)t since the new administration took office in January 2009 to lash out in public about any matters relating to this economic calamity that they find objectionable. Instead of so many televised Congressional Committee investigations, whose purpose seems to be "roasting at the stake" some of the alleged culprits of this economic disaster, I think better time would be spent for Congress to focus their prime energies on resolving this economic mess and taking a close look at reducing the proposed multi-trillion dollar budget which future generations will have to bear the burden for.

Enough of this senseless "kangaroo court" ranting and raving from our government leaders and politicians--it's time for calm to prevail and give the American people greater positive enlightenment and encouragement for the future of our economy by continuing to take prompt proactive steps to achieve this goal.(Show less of this comment)

Cry me a river! Where were you when the poor were begging for a rise in the minimum wage, so they can actually afford essentials to life like food and shelter? Folks like you were arguing that raising the minimum wage will cause inflation such that, once again, consumer goods will become unaffordable, and it becomes an endless cycle of catching up with inflation. Well, how is that different from the unlimited earnings they make? It has made legal justice, health care, homes, transportation, education, and repairmen unaffordable for the poor. They (and you) make their living on the backs of the poor, both here and overseas! They have devalued labor to the point of leaving people in perpetual poverty. Yet, they have the nerve to howl when the very people they owe their paycheck to, say 'no to bonuses'? Here is a clue . . . the taxpayers became the owners of the company and they would not have a job if taxpayers had not bought them out! If they truly feel they cannot brin...(Read more of this comment)g their talent to bear upon repairing the damage to their company, QUIT! Just as you felt that your fellow Americans who are disabled, or old, or uneducated are disposable . . . well, I sincerely believe you are too! We will see if you get another job! After all, this the exact same attitude they have taken about the people they exploit!
If the politicians were serious about preventing inflation, perhaps they should make laws that place severe wage caps on all income, instead of limiting wage growth only on those who can least afford it! This idea is disturbing? Well not taking action to raise the minimum wage has been equally unconscionable. Unlimited wage growth by the the top 10% is inflation also, but it affects only who can least afford it, and who has the least economic capacity to fight back.
These are the same people who justified sending jobs overseas to squeeze more profits out of their sales by crying 'free trade'. These are the same people who lobby politicians to prevent unions, and prevent increases in minimum wage. These are the same people who spend millions to create political commercials to convince the poor to vote for politicians who will never represent them. Who lobbied for unjust laws to allow them to soak the people with incredibly punitive fees which only effect those who can least afford it. Who place minimum balances on checking accounts knowing darn well that most people live paycheck to paycheck and need every dime of their paycheck! Who has systematically dismantled virtually every consumer protection law that was standing in the way of their profits.
You know what? Since the top 10% of the population are the only ones who have the power to lobby politicians effectively, while the rest of the country is marginalized because they do not have the economic power, then that 10% should be taxed heavily since they are the only ones to benefit from our government.(Show less of this comment)

I am just appalled at this article. It is easy to make such statements and get pissed of at Congress and the president when it is not your money. Consider the scenario where such an event happens in a corporation where one business unit makes bad bets and loses billions of dollars - do you think the parent corporation and shareholders would let this slide. In addition a dollar saved is dollar earned (old saying...). I also agree with the other post - where one says that there are others looking for similar jobs - there is no dearth of talent in US and I completely support the initiative to get the money back. As for the legal contracts that requires one to dole out payments in case of billions of dollars of losses - I think it needs to be revisited and nullified...

Great Editorial!!!!

The Pol's want us to focus on bonuses, this is NOT about bonuses. It is about the rule of law!

When the government changes the rules, the market goes down! The author of this ediorial get it!

If you are long the market (enrolled in a pension plan, have a 401K, or own a "non-bear" mutual fund) and you think taxing the bounes is "a good idea" you DESERVE to lose all of the money the market will take from you!

The bonuses were awarded due to legal contracts signed before the crash. Our Congress speficially exempted them from compensation limitation at the request of the Obama administration. Now most people want the government to void legal contracts!

If the government can void these legal contracts today, to the cheering of the crowds! What contracts will they void tomorrow? I don't know. Nobody knows! If nobody knows what the rules will be tommorow they would be crazy to invest!

So, go ahead and feel good about p...(Read more of this comment)unishing the idiots at AIG. But then stop bitching if the market goes down! Going down is the only logical reaction to what you want!


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Everyone keeps saying that these people will leave. My question is, leave to go where? Because there a lot of other people out there looking for jobs and they might like to know where these JOBS are. I really do not care what was in their contact, just give the taxpayers theirs bonuses too and we can all fleece the government at the dame time.

A simple solution for banks which did not need TARP money is to return it.

Failure bonuses still don't fly when we are funding these companies as the American taxpayer. The party is hopefully over. Maybe we can get some shareholder rights to stop fleecing our pockets. In the meantime since we don't, I'm happy the government is at least trying. MR. CEO's are you listening?

Signed,

Pissed off shareholder.

Posted by: AF catfish on NO QUARTER

Wooohoo I get KSFO! This way I can skip 60 minutes and skip the part where Kroft asks Obama why he’s laughing about the economy! Actually the part I want to skip is Obama’s answer (more laughter.)His remarks came in a '60 Minutes' interview in which he was pressed by an incredulous Steve Kroft for laughing and chuckling several times while discussing the perilous state of the world's economy. 'You’re sitting here. And you’re— you are laughing. You are laughing about some of these problems. Are people going to look at this and say, 'I mean, he’s sitting there just making jokes about money—' How do you deal with— I mean: explain. . .' Kroft asks at one point. 'Are you punch-drunk?' Kroft says. 'No, no. There’s gotta be a little gallows humor to get you through the day,' Obama says, with a laugh.

Posted by: getfitnow on NO QUARTER

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