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Politics : BuSab
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To: mph who wrote (355)3/17/2009 2:24:08 PM
From: quote 007  Read Replies (2) of 23934
 
this was posted on another board

What we are witnessing in regard to the AGI retention bonuses is a dog and pony show. The American people are being played for fools.
A retention bonus is paid to employees who are losing their jobs and are promised a bonus to remain and work until the designated release date. These bonuses were promised by contract over a year ago and the date and amount for the payout was set.
This was known by President Obama, Chris Dodd, Barney Frank and the rest of those involved all last year. Chris Dodd is the man who added the amendment to the previous law stating that bonuses promised by contract prior to Oct. 2008 were exempt from limitations at AIG. Now they are acting like it is all a big surprise. This is all a lie.
Why? Their bail outs and stimulus packages have failed. It cannot be Obama's, Franks's or Dodd's fault so to transfer blame from themselves they are throwing the blame for failure on the employees of AIG. This is a snow job on the American People.
The bailout of AIG will now reach approx. 90 billion and the bonuses are but a drop in the ocean. This is a transfer of focus and blame away from the government.
Chuck Shumer warned AIG employees from the floor of the Senate today that he and his colleges plan to tax the bonuses given to retain AIG employees at 100% if they are not returned. It this legal? It is if you are living in a Oligarchy and the few can do whatever they please because they have all of the power.
You had better wake up before the Republic completely ceases to exist.
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