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alstry (35.40)

How Stupid does Geithner think we are??????

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March 17, 2009 – Comments (10)

Headline from MarketWatch:

Treasury to deduct bonuses

Followed by this:

U.S. Treasury says it will make AIG pay taxpayers back for the $165 million in bonuses the insurer paid employees by deducting the money from the next $30 billion federal aid installment.

Alstry's Reaction.....................

Are you F...ing Kidding ME!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Those socksuckers get to keep the bonuses?  We are giving exectutives that are primarily responsible for the largest bankruptcy in U.S. history bonuses?  We are giving exectutives bonuses out of taxpayers dollars?  We are calling it a deduction?????  Is this what our government thinks of Americans????

It is our money we are giving AIG.....ALL OF IT!!!!!  Nobody is deducting a dime.......We taxpayers give AIG $30 billion and they give us back $165 million?????  And then most of that $30 Billion goes to Goldman so they can give their executives bonuses.  Anybody want to give Alstry a billiion and he will be glad to give you back a million any day of the week???????

This is absolutely insane that Geithner would even fantasize that anyone would buy this BS.  Pretty soon people are going to start demanding these guys get lynched as American's are getting kicked out of their homes and forced on the streets due to lack of work and lack of money.

Get ready for the FU phase of Alstrynomic's Concentric Contraction.  This will be the most volitile and unsettling for many.  Here is a preview that I provided on solaris blog under comment 1:

http://caps.fool.com/Blogs/ViewPost.aspx?bpid=165010&t=01004382569071098967

If billions and billions of our tax dollars are going to a few banking and insurance executives, why should any American pay taxes?????  If anyone's company goes bankrupt, shouldn't they get bailed out too under equal protection from the Constitution???  If anyone loses their job, shouldn't they get a million dollar bonus because we don't want Americans to fail????? 

If cities don't have to honor union contracts....can union workers say FU to mortgage payments incurred under their old union wages????

If GM cuts pension benifits as a result of a bankruptcy, could GM retirees say FU to hospitals for not having enough money to pay for health insurance or treatment.

If credit card companies cut credit or jack up rates unilaterally, can holders say FU to the amount of outanding under the old terms????

It apprears the FU phase is going to manifest in two ways....

FU by Necessity.....saying FU simply because you can't afford to pay

FU by Choice....saying FU simply because you think its the right thing to do or because you are soooooo pissed.

Things are heating up................Get ready to rumble!!!!!!!!!!!!!!!!!!!!!!!!!!

 

10 Comments – Post Your Own

#1) On March 17, 2009 at 11:03 PM, alstry (35.40) wrote:

Let me sum it up for those mathematically challenged....

Prior to tonights generous offer from our esteemed Treasury Secretary....

We were going to give AIG $30 Billion dollars and they were going to bonus key exectutives primarily responsible for the bankruptcy of AIG millions and millions....

NOW.....because of Mr. Geithner's intervention

We are going to give AIG $29 Billion $865 Million and they are STILL going to bonus key executives primarily responsible for the bankruptcy of AIF millions and millions...

and if AIG needs more $$$$$, guess where its coming from???

Do you think Motley Fool executives would get bonuses for millions and millions if Motley Fool went bankrupt????

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#2) On March 17, 2009 at 11:06 PM, lquadland10 (< 20) wrote:

And to think Barny Frank helped him and the banks. You should do a blog on him. Pitchforks and Torches.

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#3) On March 17, 2009 at 11:21 PM, 100ozRound (29.37) wrote:

I think they should pay the bonuses.....

......and then the U.S. Treasury should institute a new tax that would tax the bonuses of TARP recipients at 100%. That would allow AIG to fulfill their legal obligations while returning the bonus money back to where it came from.

Would that be a viable solution?

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#4) On March 17, 2009 at 11:24 PM, alstry (35.40) wrote:

Absolutely.  Nice suggestion 100oz.

AIG's legal obligations were voided when they were constructively bankrupted and took TARP $$$$.

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#5) On March 17, 2009 at 11:55 PM, TMFCrocoStimpy (95.21) wrote:

......and then the U.S. Treasury should institute a new tax that would tax the bonuses of TARP recipients at 100%. That would allow AIG to fulfill their legal obligations while returning the bonus money back to where it came from.

I'm not sure that this is a great idea, because it is necessarily going to be applied to every institution that accepts bailout funds.  This will necessarily spawn a bunch of creative spinoff divisions/companies that DON'T take the bailout $, but conveniently pay huge bonuses to the people who sank the remaining parts of the company that DO take bailout funds.  The weasels will find a way to pervert the intent of the law and get their money.

I am more inclined to go with Andrew Cuomo's approach: when the contracts were written, the people writing the contracts at AIG knew that they didn't have the money to pay them, therefore the contracts were fraud.  The company execs who were thus defrauded can get in line to sue AIG for writing a fraudulent contract, but they can't collect the bonus.

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#6) On March 18, 2009 at 12:02 AM, alstry (35.40) wrote:

AIG execs get millions after bankrupting the company

and

CAT workers get fired for working their asses off!!!!!!!

PITTSBURGH (AP) -- Caterpillar Inc. on Tuesday announced plans to lay off more than 2,400 employees at five plants in Illinois, Indiana and Georgia as the heavy equipment maker continues to cut costs amid the global economic downturn.

Now many of those 2,400 people will not be able to find replacement work, make their credit card payments or mortgage payments.  More defaults, More foreclosures, more families kicked out on the streets while finance executives get millions in bonuses.......

This is happening to millions of workers across the country and growing hour by hour day by day...

How long do you think this will be able to continue before tensions rise to unacceptable levels???

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#7) On March 18, 2009 at 12:47 AM, Option1307 (29.70) wrote:

I am equally pissed off by these bounese, but shouldn't people be mad over the original bailout...(Not you alstry, I know u were).

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#8) On March 18, 2009 at 1:38 AM, PacificGatePost (< 20) wrote:

A.I.G. has long been a national embarrassment.

 

http://pacificgatepost.blogspot.com/2009/03/aig-national-embarrassment.html

 

A Special Prosecutor should be assigned and given wide berth to hunt down the malfeasance.

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#9) On March 18, 2009 at 2:00 AM, PrestonCheek (32.23) wrote:

Alstry, only 8 more days and I get to have a bloody mary with you. :)

Keep up the good work, I don't know what is going to happen when all the pension funds really start to collapse. When people that think they're not affected by all of this suddenly get in the middle of it, all hells going to break loose.

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#10) On March 23, 2009 at 12:36 PM, Calegro (< 20) wrote:

*** IN BETWEEN THE LINES COMMENTARY ***

Guess what ... all the big "private" banks will use the New Facility to take cheap loans to eventually buy up small banks' (yes ... not just the balance sheets but to swallow up the rest of the prey as well)!!!  Guess the number of banks in US will shrink 9999% to say ... NUMERO UNO!

I have a suggestion to what to call it ... instead of CitiJPMorganStanleyMerryLeeches ... it would be simply called Federal Bank of America.  And everyone who ever has taken a loan (whether you know it or not) will be working for her for the rest of our miserable lives.  Same goes for all the citizens who are yet to be born!

Maybe we shouldn't be called citizens anymore ... just call a spade a spade ... we're slaves.

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