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Where do top executives and employees of AIG flee when economy in turmoil, reliance on investment portfolios, early retirement, bankruptcy, lavish home sale, CD payout with tax payer dollars
Saw it in here. Discusses the bonuses. Says, "Gotta offer great pay or top people will leave."
My question...is... in a really bad economy, where would they leave to? My comment is, "Don't yank my chain." Ever watch Cops? Guy beats the crap out of a woman. She's standing there with two black eyes and a busted up nose. The cops are like, "What do you want to do, ma'am." and she's like "Just take him away...but don't put him in jail!" and the cops look at the camera and they say, "It's like this every week. He's the breadwinner. She's stuck at home with 5 kids and no job. He can beat her black and blue, but it's him that paying the rent."
You focus on her pain and sorrow, and you miss the guy in the car, smirking, all because he knows in a few hours, she'll be down town bailing him out, and in a week, he'll be showing her how he likes things done...again. And he'll make double sure she understands, this time.
It's all smoke and mirrors. Outrage over bonuses? Smoke and mirrors.
Keeping top talent? Smoke and mirrors. It's the tail wagging the dog. Get people focused on something while you shift the ball to the other hand.
I'm pretty tired of it, but I know what you know and what others suspect. America isn't motivated any longer. We *****, we cry, we moan, but we think, "Someone should do something." and we don't think "I should do something." Some of us do "do something"....we post about it on message boards, when we should be rising up and standing up...somewhere.
I came to a conclusion a long time ago. It's sort of like that movie, "The Matrix." People are tied up in their own life. You don't rise up against the system. To do so is foolish, isn't it? You've got bills to pay, kids to take care of, places to fish and mountains to climb. You've got a wife to try and keep happy, or a husband that works too hard, and you barely have enough time to sleep, yet alone to start a war on how you're being treated. You become part of the system and eventually, you don't even realize it. You just stop caring. Or maybe you care, but you don't care enough to do something. And what can you do?
You're just a woman with 5 kids...and you gotta scrape up enough to bail out your boyfriend so he can go to work tomorrow.
Where do they flee to? If they have been smart with the money they made over the past few years, they flee to an early retirement. Or they work full time on their own investment portfolios. If it was me, I wouldn't stick around. I mean .... who needs the hassle if you already have enough.
Wow, talk about elitist talk... from that article:
Quote:
Since the beginning of the crisis I’ve wondered why the government has found neither the will nor the way to attack the root of the problem -- the people who borrowed money to buy homes they shouldn’t have bought.
So yes, what benefit does the government gain by attacking the poor? Millions have already defaulted... and hundreds of thousands are already living in tent cities. Yes, blame the poor and uneducated. We should round them up and put them in jail. Ok, what does that accomplish? More tax payer dollars? There's really nothing to extract from these people. Wall Street and the system already indebted them to high hell.
So, the remaining source of actual wealth would be the corporations. AIG by paying off the Billions to Goldman, B of A, and the Eurpean banks were also, in a sense, fullfilling a contractial obligation - from the credit default swap contract (imagine if your home or car insurer doesn't pay out in a claim). So, that payment as well as the millions in bonuses were Both contracts.
So, what should the government do? They should help in the orderly bankruptcy and break up of AIG. That way, the insurance "contracts" could be voided, the bonus contracts could be voided. Meanwhile, maintain TARP with a larger pool of capital to fund entities that need help.
This will help draw out the bad apples who took on excessive risk. And those entities can shrink. As it is, AIG paying out the CDS with Tax payer dollars is just shielding those who took on the risk. Furthermore, it would allow more competition into the markets as the larger players who took on more risk are allowed to quasi fail (still able to potentially survive by taking out TARP funds).
Saw it in here. Discusses the bonuses. Says, "Gotta offer great pay or top people will leave."
My question...is... in a really bad economy, where would they leave to? My comment is, "Don't yank my chain." Ever watch Cops? Guy beats the crap out of a woman. She's standing there with two black eyes and a busted up nose. The cops are like, "What do you want to do, ma'am." and she's like "Just take him away...but don't put him in jail!" and the cops look at the camera and they say, "It's like this every week. He's the breadwinner. She's stuck at home with 5 kids and no job. He can beat her black and blue, but it's him that paying the rent."
You focus on her pain and sorrow, and you miss the guy in the car, smirking, all because he knows in a few hours, she'll be down town bailing him out, and in a week, he'll be showing her how he likes things done...again. And he'll make double sure she understands, this time.
It's all smoke and mirrors. Outrage over bonuses? Smoke and mirrors.
Keeping top talent? Smoke and mirrors. It's the tail wagging the dog. Get people focused on something while you shift the ball to the other hand.
I'm pretty tired of it, but I know what you know and what others suspect. America isn't motivated any longer. We *****, we cry, we moan, but we think, "Someone should do something." and we don't think "I should do something." Some of us do "do something"....we post about it on message boards, when we should be rising up and standing up...somewhere.
I came to a conclusion a long time ago. It's sort of like that movie, "The Matrix." People are tied up in their own life. You don't rise up against the system. To do so is foolish, isn't it? You've got bills to pay, kids to take care of, places to fish and mountains to climb. You've got a wife to try and keep happy, or a husband that works too hard, and you barely have enough time to sleep, yet alone to start a war on how you're being treated. You become part of the system and eventually, you don't even realize it. You just stop caring. Or maybe you care, but you don't care enough to do something. And what can you do?
You're just a woman with 5 kids...and you gotta scrape up enough to bail out your boyfriend so he can go to work tomorrow.
We are all sick of it and it violates very simple economic principle. Incompetent employment of capital losses talent to competent employment of capital. If a particular business cannot afford a certain "talent", then its not the best implementation of capital to employ that talent. It means they are more valuable elsewhere. If the best heart surgeon in the world could only perform 1 surgery at a time and had to choose between an AIG exec and perhaps a scientist who was near discovering fusion energy, then I would say we don't want AIG to artificially be able to out bid the father of fusion energy.
So I would say we have a government full of gansters posing as commie/socialists or somesuch since we don't believe in the market system.
Saw it in here. Discusses the bonuses. Says, "Gotta offer great pay or top people will leave."
My question...is... in a really bad economy, where would they leave to?
I think the real question is, if they are the top people, why did the company lose so much money. They weren't smart enough to avoid bad investments apparently.
I think the real question is, if they are the top people, why did the company lose so much money. They weren't smart enough to avoid bad investments apparently.
It happens every time boom moves into bust. There are a couple of different things. First, some very smart people actually believe that they are smarter than the system and that they can beat the system. Secondly, some of these smart people stop using their brains. This crisis had been brewing for over a year before it actually blew up but it never occurred to them to start unwinding the high risk positions they were in.
Why pay retention bonuses if all your competitors are crashing as well? I'd think they could cut salaries 10% and those that stay are happy to have a job...thats what other industries (who aren't getting bailouts) are doing.
I wonder why they would go too, at least right now. They come from a company that is infamous for it's terrible decisions and unethical behavior...and then no one is really hiring either.
Obviously the problem is the folks on Wall Street don't make enough money. Had they been making more money they would've attracted more of their "best people" and we wouldn't be in this mess.
very good post yes we defend the bad guys alot.
we got a new office god, the bottom line
because setting limits has consequences and we are scared.
we would rather have the good life than the true christian life.
in the end we will lose both.
as to the women on CDF that defend wife beaters,
i am having a hard time with this.
its another new god, the god of harmony in the home at any price
they are no better or worse than men that allow their credit card crazed wives
to run over them,
people wana be married and have a job and are willing to do absolutely anything
to get it
Last edited by Huckleberry3911948; 03-22-2009 at 01:29 PM..
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