Well, you can't mess with an employment contract but in this specific case I do think these money are way too much. What does a man has to do to earn all these money? I don't think we can talk about compensation here...

to draw our eyes away from the TRILLIONS the Fed/Treasury is shoveling into the banks, and of course the banks are buying up other banks consolidating even more of OUR wealth into THEIR hands.

I could care less about what's already done, let's stop them from doing any more!!!

In Liberty,

DarthDubious

Dodd insisted that tax cheat Geithner's Treasury staff wanted language in the bill that created a loophole for AIG to exploit. Tax cheat Geithner said that the Treasure staff staff was working closely with Dodd's staff. Dodd said he inserted language that permitted payouts of any executive bonuses because the administration asked him to.

Story

This is why a few of us believe the less "Guv" the better. They can't even get this right. This is so disgusting.

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Someone that is good at public relations.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.

Of course, I have comments.

When you enter into a legally binding contract that does not turn out, your first step is to endeavor to renegotiate it.

You explain to the other side what the consequences of not renegotiating might be. And you present the choices available. One choice might be instant employment termination, followed by an investigation of what the employee might have done that could be subject to prosecution (civil or criminal) and attendant publicity. (If the employee sues to recover the bonus under his contract, there could be some counterclaims.)

One other choice might be an extension of the contract with new terms which cut down the bonus and leave open the possibility of better pay in the future if and when conditions get better.

Whatever it is, you don't just stand there, wring your hands, and do nothing as if you had no choices whatsoever (which is what current managers are doing). There are choices for people who look for them. And nobody is indispensable.

years and years ago when i was teaching in a private school the first year i moved to GA, i started putting my money into a VALIC plan...i believe that stood for Variable Annuity Life Insurance Company...rather than sending my money to the Social Security System...something that was allowed for teachers at that time. Over the years i contributed money to my plan to prepare for my "golden years". The company was eventually bought up by AIG. Today {actually between 8/1/08 and 9/30/08} my retirement account lost 60% of its value.

Now this is not written in support of AIG and its shoddy investment procedures. I feel as outraged by the fantastic sums sucked out of the bailout funds as the next guy. I can only hope and pray that AIG continues as an investment company so that my retirement, as meager as it might be now, will retain ANY of its value. Keep the faith.

Democracy is not a spectator sport

My comments: {{{EDITED FOR STRONG LANGUAGE THAT DISPARAGES THE WHOLE FINANCIAL SITUATION}}}

It's not easy being the carbonunit