Real Estate Bank Owned Distressed Properties,
Short Sales and more
Florida Foreclosures
California
Foreclosures
Nevada Foreclosures
New York Foreclosures
|
The Democrats lies and deceit is a prepared
plan to misdirect the public from the truth. Billions went overseas and not
mentioned. 1/10th of 1% going to employee bonuses that was written in law is
the misdirection focus of the Obama Administration and liberals Dodd,
Schumer, Frank etc.
Company officials contend that the uproar is scaring away the very employees
who understand AIG Financial Products' complex trades and who are trying to
dismantle the division before it further endangers the world's economy.
3-17-09 - President Obama vowed to "pursue every legal avenue to block the
bonuses to AIG employees.
Obama expressed disbelief, "How do they justify this outrage to the
taxpayers who are keeping the company afloat?" Obama said the bonuses are an
"outrage" that violate "fundamental values."
Senator Chris Dodd (Democrat -Conn.) added executive-compensation to the
bill that is now law which allows the AIG bonuses that Dodd, Obama
and other liberals are seeking to tax. That amendment provides an “exception
for contractually obligated bonuses agreed on before Feb. 11, 2009”
which exempts the very AIG bonuses Dodd and others are now seeking to tax.
AIG bailout total - $170 billion in taxpayer funds.
Obama's aggressive stance toward the AIG bonuses raises the question of
whether the government could also pursue the billions paid to AIG's trading
partners. AIG finally identified those trading partners that indirectly
benefited the most from its bailout. Among the recipients, AIG funneled
billions into foreign banks, including $11.8 billion to Germany's Deutsche
Bank and $8.5 billion to Britain's Barclays PLC. Goldman Sachs received
$12.9 billion; Merrill Lynch got $6.8 billion.
AIG disclosed its retention-payment program more than a year ago, and the
amount of the bonuses. But as the payments were coming due recently, the
White House began to express its indignation.
Senator Dodd was AIG’s largest single recipient of campaign donations during
the 2008 election cycle with $103,100, Barack Obama was second with
$101,000.
At the Federal Reserve Bank of New York, which has directly overseen AIG
since its federal takeover in September, officials have studied the
possibility of rescinding or delaying the bonuses. They even brought in
outside lawyers for advice. The conclusion: If the bonuses weren't paid, the
AIG staffers would be able to sue the company and probably would win, not
just what they were owed but also punitive damages that would make the
ultimate cost perhaps two to three times as high as the bonuses themselves.
Moreover, Fed officials also hope to keep current employees with the
company. The senior executives whose decisions caused the company's collapse
are long gone. Most of those left behind are trying to unwind complicated
derivative contracts. Completing that process correctly is essential to
preserving as much value as possible for taxpayers, officials at both the
government and AIG have argued. If it is mishandled, it could expose
taxpayers to billions of dollars in additional losses.
Hired guards stood watch outside the suburban Connecticut offices of AIG
Financial Products, the division whose exotic derivatives brought the
insurance giant to the brink of collapse last year. Inside, death threats
and angry letters flooded e-mail inboxes. Irate callers lit up the phone
lines. Senior managers submitted their resignations. Some employees didn't
show up at all.
"It's a mob effect," one senior executive said. "It's putting people's lives
in danger."
"It's going to blow up," said a senior Financial Products manager, who spoke
on condition of anonymity because he was not authorized to speak for the
company. "I have a horrible, horrible, horrible feeling that this is going
to end badly."
Sen. Olympia Snowe, R-Maine, and Ron Wyden,
D-Ore., won passage of a provision earlier this year that they said would
have prevented the type of payments now at the center of a storm.
It was dropped without explanation in the final compromise on the economic
stimulus measure, replaced by a less restrictive set of conditions backed by
Sen. Christopher Dodd, D-Conn., and accepted by the White House.
"The president goes out and says this is not acceptable and then some
backroom deal gets cut to let these things get paid out anyway," said Wyden.
Drudge Report |
Politico
| World Net Daily | Judicial Watch
| News Max | Front Page Magazine
Media Research |
Accuracy In Media | CNS News | Town Hall |
CBN | Push
Back | Cato Institute
American Spectator |
Heritage Foundation | Roll Call | Friends of Liberty | National Review
Rush Limbaugh |
Hugh Hewitt | Bill O'Reilly |
Bob Novak
| Laura Ingraham |
Glenn Beck
John Loftus | Pat
Buchanan | Michael
Savage |
Chuck Morse
| Neal Boortz | Bill Gertz
Ann
Coulter | Cal Thomas |
Dennis
Praeger |
Rusty Humphries
|
Ann Coulter Chat Room
Video News Current Events,
Alternate Energy, Immigration, Politics
Conservative News Videos
Multi-ethnic, illegal immigration advocacy group operating to support
enforcement of the law Minutemen
Opposes efforts to use federal immigration policies to force mass U.S.
population growth and depress wages of vulnerable workers.
Numbers USA
Israeli News
Jerusalem Post |
Arab News Saudia Arabia Daily |
Free World Now
White House Press
Briefings |
New York Post
New American |
Free Republic | Citizens United
Conservative Union
| Sia News | Insight Magazine
|
Rewards For Justice | FBI Web Site
| ATF
US Dept of Defense | US Navy | US Marines | US Air Force | US Army | USA Freedom Corps
American Legion | Center For Disease Control
|
Health & Human Services
|
news.google.com |
Lasik Eye
Surgery Info
Diets, discount vitamins
Vitamins
Health Nutrition
Casinos, Discount Hotels
Las Vegas Here
Travel, Clothing, Gifts
Shopping Discounts
|
