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03.17.2009 8:03 am

Senator’s advice to AIG executives: What do you think?

St. Louis Post-Dispatch
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If there’s one outfit you might be a little embarrassed to work for these days, it would be AIG. On the heels of taking a $170 billion (with a big, big, B) bailout from the government, the company plans to hand out $165 million in bonuses to executives.

To be fair, a good friend of mine works for AIG in Louisville. She has not gotten any enormous bonuses, nor has she been invited to take part in any luxurious retreats.

Iowa Sen. Charles Grassley

Iowa Sen. Charles Grassley

Now, Iowa Sen. Charles Grassley  is making headlines for his suggestion: That AIG execs who are taking these bonuses should either resign or, in his words, “commit suicide.”

What’s your reaction to his words?

78 comments

Comments are closed.

Although I might agree, the words are a little tough. Like many a reader, I lost monies in the market and I am not amused.

I prefer hanging a few as opposed to them committing sucide. Perhaps we could have a “pay-for-view” public execution event to generate some cash. Throw Bernie Madoff in the show and the audiance would be pleased.

Class warfare? Perhaps, but it would achieve a certain degree of public satifaction.

— garyro
8:41 am March 17th, 2009

Now the senate is up in arms. They, along with their friends in the house were asleep at the wheel for the last decade with their lack of regulation and oversight. Now it’s all about making headlines to show their outrage. It’s so hypocritical…and typical of politicians…blaming someone else after it’s their screw-up.

— hoopster
8:46 am March 17th, 2009

I would be willing to bet good money (not that I have any) that there are going to be people dying over all of this. I can see people committing suicide, both execs and the people who have lost their life savings, and I can also see revenge killings taking place too. Heck, I wouldn’t even be shocked to see our country in an all out civil/class war within the next few years. I can see the rich on one side, the poor on the other, killing each other over money.

I think lifting the level of rhetoric here is just the beginning. We can’t go back now. This country is on an all out track for class warfare, and I don’t think it can be stopped. Many of our fathers, brothers, uncles, wives, sisters, nephews, sons and daughters are going to die because of all of this. I hope I am wrong, but I doubt it.

— Joey
9:05 am March 17th, 2009

I’d prefer he say that the US government officials who created this entire mess and are using taxpayer money to give to AIG and other would-be failed entities should either resign or commit suicide to save the US. Who’s more wrong? The government for giving money to AIG or AIG for handing out bonuses. The answer is the government, because if they weren’t involved, the company would be bankrupt and there wouldn’t be the money for a bonus. Always get to the heart of the matter and you will see who’s truly guilty. Actually, AIG executives did nothing illegal in this situation as far as I can tell, but maybe immoral to some people, but that has nothing to do with the law.

All this is is scapegoating for something the US government caused, so AIG along with other corporate executives are taking the hit, by deflecting blame from the government.

There needs to be a new American revolution where the government is taken back over by the people and the US Constitution is once again followed, where taxes are low and there are fewer social programs which will eventually cripple us. All fiat currency systems around the world will be destroyed one day by rampant deficit spending and that’s when we’ll get the revolution, but it may not be the revolution we all want.

— Dan S1
9:10 am March 17th, 2009

Hang’m High! I dont see the words being used as even a bit ruff. In today’s economy where a lot are loosing there jobs, most wont be seeing a pay raise and bonuses are a dream; AIG wants to give bonuses to their top officials. Give the bonuses to the people they laid off. Give the bonuses to the middle class workers who live from pay check to pay check. The multiple million dollar bonuses given to the top officials at AIG from last year should be enough to keep food on their table.

— Mike
9:11 am March 17th, 2009

This is just a suggestion…

I in NO way mean to call anyone out, but “loosing” is not a word, at least it is not the word that all of you mean to use when you use it! If you are going to lose something, you are “losing” it, not “loosing” it.

I don’t mean to be rude, but people are CONSTANTLY making this mistake on this blog, and it is a pet peeve of mine. Not that I am perfect when it comes to grammar. I am far from it!

Just thought I would point it out.

And just one more comment on my previous post. In the end, if we do have a civil war, or even if people just kill themselves or each other, it will be for the almighty dollar, and I think that is so sad. Don’t get me wrong, I know how important money is. I barely have enough to pay my bills. But I try hard to remember that there are more important things in life. Unfortunately, I think we have forgotten that as a country, and we are going to pay a heavy price.

— Joey
9:40 am March 17th, 2009

guess what….some are saying this is blame on the wrong people….they say the politicians are yelling out about this because they don’t wan’t
the people to know the real truth…..THAT 93 BILLION OF THE AIG MONEY
WENT TO GOLDMAN SACKS BANK AND OTHER BANKS IN EUROPE….we don’t get the truth from either party……….and we are so proud of who we voted for?

— jimjam
9:44 am March 17th, 2009

Yes, Garyro, the words are harsh. And yes, hoopster, they are a day late and more than a dollar short. But isn’t it past time for harsh? Isn’t somewhat late better than not at all? I’m behind this guy, Grasle, because I think he says what he means and means what he says and that’s practically a dead art in politics or in “journalism” any more. I think he was thinking of the kind of suicide that would have been committed in a time when people would have actually felt shame over having their disgusting, smarmy, loathsome, greedy, piggish behaviour exposed to the world and they would have simply done themselves in, in disgrace. Today, these people have no sense of shame or disgrace because they have been raised to believe we all get a blue ribbon just for showing up, and we all need to feel good about ourselves no matter what we do and no one gets to judge anybody else because that would be “intolerant”. Call me intolerant, I think these guys, and gals, are pigs and deserve to be pariahs for the rest of their natural lives. But they won’t.

— Civil Discourse
9:45 am March 17th, 2009

Of course the bonuses are outrageous, but maybe somebody (like these now high-and-mighty senators) should have demanded due diligence from the bailed-out companies before those companies got any money. Now some of these same people in Congress are outraged over AIG paying out bonuses that they were contractually obligated to? Maybe Congress should look in the mirror…maybe Congress should take a pay cut, like so many of us have, to offset some of these bone-headed financial moves they keep voting for.

— loricm
9:51 am March 17th, 2009

This is entirely too easy. So, the left, who wrote the tarp bill, sends to the press to stir up all this crap to infuriate the electorate. The left blames this on Bush. How do we do that? The left writes the bill and blame it solely on Bush?

First off, does anyone really know the particulars of what these bonuses are all about? Of course not. It doesnt matter because the American people are so easily influenced. Its like sending the sheep to the slaughter. I now know how the Salem witch trials happened. People are easy and basically lazy. Where are the critical thinkers here. Could this be a deception? Also, Grassley is a political whore anyway so lets not cut him any slack.

I hear people talking about putting these execs in prison. What about our elected officials for running our country into the ground. They build up huge deficits and God knows how many boondoggles they are responsible for. The problem is that the electorate is so naive and so emotional that they will react to anything and not even bother to research. After all, if we were those very executives and had a contract, wouldnt we want to get paid the agreed amount also?

Are we going to demand the same of sports stars who dont perform as well as they are expected to? How about actors who do a poor acting job in a movie? I guess it all depends on who the left and the politicians feel like demonizing this week, doesnt it? This year it doesnt pay to be a smoker or an exective. Who’s next?

— superdave
10:02 am March 17th, 2009

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