No wonder this country is screwed up! - 6MT.net Infiniti G35/G37/GTR Forums
User Tag List

Reply
 
LinkBack Thread Tools
post #1 of 17 Old 03-15-2009, 08:54 AM Thread Starter
Over 1,000 Posts
 
bob1's Avatar
 
Join Date: Aug 2007
Location: Peachtree City, GA.
Posts: 1,939
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
(Thread Starter)
Default No wonder this country is screwed up!

Here it is in black and white. This is where your tax money goes and NOBODY F**KIN' CARES!

[SIZE="2"]WASHINGTON – American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.[/SIZE]

Insurance giant AIG to pay $165 million in bonuses - Yahoo! News

Welcome to the revolution.

2004 Desert Platinum Coupe, Bose, Sunroof,
2010 Blizzard Pearl Toyota Highlander
bob1 is offline  
Sponsored Links
Advertisement
 
post #2 of 17 Old 03-15-2009, 10:40 AM
Administrator
Lifetime Supporting Member
 
Infiniti514's Avatar
 
Join Date: Jul 2005
Location: Philly
Posts: 105,678
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 376 Post(s)
Default

i need a job with them

KING PW
Infiniti514 is offline  
post #3 of 17 Old 03-15-2009, 11:10 AM
Over 10,000 Posts
 
poormansporsche's Avatar
 
Join Date: Feb 2008
Location: just where you'd least expect me
Posts: 15,980
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Default

Quote:
Originally Posted by bob1 View Post
Here it is in black and white. This is where your tax money goes and NOBODY F**KIN' CARES!

[SIZE="2"]WASHINGTON – American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.[/SIZE]

Insurance giant AIG to pay $165 million in bonuses - Yahoo! News

Welcome to the revolution.
That is some serious PELOSI !!
poormansporsche is offline  
post #4 of 17 Old 03-15-2009, 02:00 PM
Super Moderator
Lifetime Supporting Member
 
Gardiner's Avatar
 
Join Date: Feb 2003
Location: Cumming, GA
Posts: 7,718
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 6 Post(s)
Default

The money has to go somewhere. Embrace the new America, we are going to be a lot better.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.



To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Gardiner is offline  
post #5 of 17 Old 03-15-2009, 02:04 PM Thread Starter
Over 1,000 Posts
 
bob1's Avatar
 
Join Date: Aug 2007
Location: Peachtree City, GA.
Posts: 1,939
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
(Thread Starter)
Default

Quote:
Originally Posted by poormansporsche View Post
That is some serious PELOSI !!
I think she hired a new guy, Ben-Dover.

What a crock of crap, your tax money for bonuses for running the company into the ground. Hell, I can do that without a bonus.

2004 Desert Platinum Coupe, Bose, Sunroof,
2010 Blizzard Pearl Toyota Highlander
bob1 is offline  
post #6 of 17 Old 03-15-2009, 02:05 PM Thread Starter
Over 1,000 Posts
 
bob1's Avatar
 
Join Date: Aug 2007
Location: Peachtree City, GA.
Posts: 1,939
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
(Thread Starter)
Default

Quote:
Originally Posted by Infiniti514 View Post
i need a job with them
You are overqualified, you have a brain.

2004 Desert Platinum Coupe, Bose, Sunroof,
2010 Blizzard Pearl Toyota Highlander
bob1 is offline  
post #7 of 17 Old 03-15-2009, 02:23 PM
Over 10,000 Posts
 
poormansporsche's Avatar
 
Join Date: Feb 2008
Location: just where you'd least expect me
Posts: 15,980
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Default

Quote:
Originally Posted by bob1 View Post
You are overqualified, you have a brain.
uhh....jury is still out that
poormansporsche is offline  
post #8 of 17 Old 03-15-2009, 02:57 PM
Administrator
Lifetime Supporting Member
 
Infiniti514's Avatar
 
Join Date: Jul 2005
Location: Philly
Posts: 105,678
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 376 Post(s)
Default

Quote:
Originally Posted by bob1 View Post
You are overqualified, you have a brain.
thank you!

Quote:
Originally Posted by poormansporsche View Post
uhh....jury is still out that
stfu

KING PW
Infiniti514 is offline  
post #9 of 17 Old 03-15-2009, 02:59 PM
Over 10,000 Posts
 
poormansporsche's Avatar
 
Join Date: Feb 2008
Location: just where you'd least expect me
Posts: 15,980
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Default

Quote:
Originally Posted by Infiniti514 View Post
thank you!



stfu
I was just sayin
poormansporsche is offline  
post #10 of 17 Old 03-16-2009, 07:45 PM
Over 2,500 Posts
 
dholly's Avatar
 
Join Date: May 2003
Location: Upstate NY
Posts: 3,901
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 2 Post(s)
Send a message via AIM to dholly
Default

AIG released their CDS counterparty payments, ie., where your U.S. Taxpayer funded bailout $billions actually went. See HERE. About $44 billion went to counterparties headquartered in the U.S., such as Goldman Sachs and states such as California and Virginia. The majority of the funds—$58 billion—went to banks headquartered outside the U.S. The big winners were French and German banks, which pulled in $19 billion and $17 billion respectively. To put these numbers in perspective, remember that the U.S. fiscal stimulus bill passed in February provided only $27.5 billion for highway and bridge construction in our own country. In effect, the U.S. Treasury and Fed have been bailing out the rest of the world, to a massive degree, with U.S. Taxpayer confiscated funds.

Government Subsidized Transportation
dholly is offline  
post #11 of 17 Old 03-17-2009, 07:44 AM Thread Starter
Over 1,000 Posts
 
bob1's Avatar
 
Join Date: Aug 2007
Location: Peachtree City, GA.
Posts: 1,939
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
(Thread Starter)
Default

Quote:
Originally Posted by dholly View Post
In effect, the U.S. Treasury and Fed have been bailing out the rest of the world, to a massive degree, with U.S. Taxpayer confiscated funds.
How stupid are we the people to sit here and watch our tax dollars taken from our paychecks be sent to France and Germany to bail them out?

The taxpayer tea parties were wildly successful! Thank you to everyone who planned or participated in a tea party. But the movement is just beginning, and we need your help. We were able to organize dozens of tea parties around the country in less than a week, but now we must begin to plan bigger events in more cities, leading up to Tax Day on April 15th!

All we need from you is a location, date and time in your city, and an agreement to get any needed permits, and we will add your tea party to the list on this page. Look for email updates from our chairman, Dick Armey, soon. And please tell all your friends to join us at IamWithRick.com and FreedomWorks.org!


FreedomWorks Foundation's 2009 Taxpayer Revolt

2004 Desert Platinum Coupe, Bose, Sunroof,
2010 Blizzard Pearl Toyota Highlander
bob1 is offline  
post #12 of 17 Old 03-17-2009, 09:52 AM
Over 2,500 Posts
 
dholly's Avatar
 
Join Date: May 2003
Location: Upstate NY
Posts: 3,901
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 2 Post(s)
Send a message via AIM to dholly
Default

Now that the public expressed it's outrage, Obama goes on TV to get all 'choked up' and the congressional dipshits fall over each other to excoriate the very entity many accepted funds from and almost all of them agreed to bail out. Repeatedly. What a bunch of 'Pelosi'. In their zeal for the moment, they will only makes things worse. As it sits, AIG (the small Financial Products division which created the capital calls that brought the entire behemoth crashing down) is active in many businesses, not all of which are focused on credit derivatives. The numbskull who led the unit was already pushed out in March 2008 and replacements from both inside and ouside AIG are attempting to clean up after him. If the feds attempt to illegally force AIG to break their contracts with their traders and deny the bonuses, they will open a can of worms and lose the lawsuits.

Forcing a company to NOT comply with its contractual obligations? AIG has no more right to abrogate those contracts than any other employer would with its union contracts. Whether or not the compensation agreements reflect wisdom and managerial brilliance, they exist. And, as a matter of law, AIG has to honor the commitments. Introducing legislation to tax bonuses 100%? Selective, punitive tax power? Wtf kind of precedence does THAT set?! If the government wants to tear up all the contracts, it will have to nationalize AIG and get Congress to approve it. If they do that, rest assured insurance companies which don’t honor their contracts don’t last long. In fact, it may well drive the final nail into the coffin, which so far the Feds have labored mightily to avoid.

Looking through all this outrage, one simple fact appears to be lost: that the Obama administration could have stopped the bonuses by simply stopping the bailout. They could have forced AIG into bankruptcy, which would have voided the company’s contractual compensation obligations. Instead, the Obama administration chose to inject additional liquidity into AIG, following the lead of the Bush administration, which had done the same thing. That kept AIG’s doors open, and therefore kept its contractual obligations to its employees intact. I hope everyone learns from their mistake. In the future, we can avoid having taxpayer dollars go to Wall Street bonuses by not bailing out private companies with taxpayer dollars.

Government Subsidized Transportation
dholly is offline  
post #13 of 17 Old 03-18-2009, 08:39 AM
Over 2,500 Posts
 
dholly's Avatar
 
Join Date: May 2003
Location: Upstate NY
Posts: 3,901
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 2 Post(s)
Send a message via AIM to dholly
Default Major-league asshat!

Senator Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG) bonus recipients so the government could recoup the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.

While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. 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 seeking to tax. The amendment is in the final version and is law.

Also, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.

Here is the loophole, from the section of the stimulus package that deals with compensation rules for TARP recipients:

The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.

Frankly, it’s hard to imagine how the government could prevent such contracts from being honored. But the presence of this loophole, in black and white, certainly gives the lie to all of this phony outrage — by the senator who created the loophole, by the president who signed it into law, and by everyone else who voted for the stimulus package.

Maybe AIG should just borrow the same approach Obama took defending the $410B pork-laden spending bill he just signed in private. Seeing as how the bonuses were earned for work done in 2008, AIG should just call the bonuses, “Last year’s business” and make all kinds of lofty promises about how now, for real, going forward, now that they’re paid, AIG is really going to clamp down on companies abusing bonuses because paying them is despicable.

Just so you know:

AIG contracts written in March 2008 guaranteed employees 100% of their 2007 pay for 2008, regardless of their performance. With their inaction, your federal govt just forked over $160 million (of taxpayer funds) in bonuses to employees of its Financial Products division while the company itself has received billions in taxpayer bailout funds. In doing so, AIG made more than 73 millionaires in the unit which lost so much money that it brought the firm to its knees, some woudl say the entire global financial system to its knees, forcing a taxpayer bailout. According to the NY attorney general's office, the top individual bonus was more than $6.4 million, and the top seven received more than $4 million each. Woot!! Clearly, Wall St wealth distribution methods work a heck of a lot faster than Obamas Big Bang Government! Way to cut thru the clutter Guys!!!!!!

Government Subsidized Transportation

Last edited by dholly; 03-18-2009 at 08:57 AM.
dholly is offline  
post #14 of 17 Old 03-20-2009, 12:15 PM
Over 2,500 Posts
 
dholly's Avatar
 
Join Date: May 2003
Location: Upstate NY
Posts: 3,901
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 2 Post(s)
Send a message via AIM to dholly
Default

Quote:
Originally Posted by dholly View Post
Introducing legislation to tax bonuses 100%? Selective, punitive tax power? Wtf kind of precedence does THAT set?!
F8ck the U.S. Constitution... full speed ahead!! Article I, § 9, of the Constitution states: "No bill of attainder or ex post facto Law shall be passed."...which was written to enforce the Constitution's separation of powers, thereby protecting individual rights. The judiciary, not the legislature, is the branch that judges the application of the law to specific individuals and entities, resolving the disputes before it on an individualized basis and ensuring that each case is afforded due process.

Our Founders knew procedural law, where our civil and criminal justice systems guarantee broad procedural rights meant to protect the individual from unjust government action, would be worthless if Congress could short-circuit it in any instance. Punishment meted out by the legislature is followed not by process but by enforcement: Property is seized, liberty curtailed, life taken. At some point, a tax—if narrowly enough targeted and sufficiently punitive in intent—crosses the line to being a bill of attainder.

In addition, such a narrow tax provision may constitute a taking, as prohibited by the Takings Clause of the Fifth Amendment. That clause requires "just compensation" for "private property taken for public use." It is not difficult to conceive of prohibited exactions that the government could seek to accomplish via tax policy—for example, a 90-100 percent income tax on a particular individual. A tax singling out one or a handful of citizens offends the constitutional principle the Supreme Court has repeatedly invoked: the Takings Clause is designed "to bar the Government from forcing some people alone to bear public burdens which, in all fairness and justice, should be borne by the public as a whole."

Congress has repeatedly used public outcry and other controversies to weaken contractual rights that are at the core of our economic freedom and prosperity. Without even addressing the MORAL ramifications, it invariably raises the costs of making and enforcing agreements across the economy by reducing the certainty of all agreements. Madison himself described the slippery slope that would result: "The more the legislative branch interferes in private affairs, the more who will demand that it interfere in their affairs, to their advantage, and the less the role private agreements will play in economic life." Well, I guess that is Indeed the goal of this Big Government Grab.

Taxpayers should be outraged that they are being asked to make large deferred compensation payments to employees of companies that have received billions in government aid, or owe hundreds of million$ in back taxes. More important, they should be outraged that the U.S. Taxpayer OWNS this pile of shit PLUS is on the hook for future liabilities. But this type of situation is the inevitable result of government intervention in the private sector and THAT is where outrage should be directed. Stoopid Citizens who embrace the fallacy Congress or Federal Government have their personal Liberty or financial interest at heart are selling out this country if they don't demand a halt to this bailout lunacy..

Government Subsidized Transportation
dholly is offline  
post #15 of 17 Old 03-20-2009, 12:39 PM
Over 10,000 Posts
 
poormansporsche's Avatar
 
Join Date: Feb 2008
Location: just where you'd least expect me
Posts: 15,980
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Default

If Obama wants to enforce sharing (redistributing) the wealth, why stop here?...why not retroactively tax the wealth of Gates, Buffett, the Waltons, etc. at a 90% rate; gotta be a few billion laying there...ready for the taking. Heck, let's include corporate profits as well...we could get a hefty piece of Exxon and Chevron profits. WOW, come to think of it, when you disregard the constitution, the profits are seemingly endless. Funny how "outraged" all the libs were at the Freedom Act's circumvention of the individual's constitutional rights....ah, but memory is short
poormansporsche is offline  
Sponsored Links
Advertisement
 
Reply

  6MT.net Infiniti G35/G37/GTR Forums > Off-Topic Discussion > Totally Off Topic


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
STEALERSHIP SCREWED ME OVER, what should i do? ancientwiseone G35 Coupe 7 04-03-2007 05:37 PM
Am I getting screwed? no-tens G35 Coupe 13 09-22-2005 09:58 AM
Hawaii is screwed up! Jaylin Totally Off Topic 32 07-05-2005 12:47 PM
i'm screwed Ru_G36c Totally Off Topic 13 12-19-2004 01:53 AM
I Screwed Up...... SkyG35 Audio & Navigation 1 06-27-2004 11:26 AM

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome