Deagle wrote:I understand that the bonus was part of the pay. However, it is my understanding that the US Government now owns 80% of AIG. Did they actually buy into the company as-is, without any stipulations? Can congress not override the previous contracts? I know everyone is saying lawsuit if execs don't get their money, but what could they actually get? How about we offer to let them keep their jobs........that will be this years bonus. Well, maybe for Christmas we can get them enrolled in the jelly-of-the-month club.
Do you want Congress to be able to override existing private contracts? If so, do you consider yourself to be a socialist? Because that is what you are if you think congress should be able to dissolve private contracts. If we allow Congress to arbitrarily dissolve private contracts, they essentially have the right to do whatever they want, including dissolve your mortgage and kick you out on the street as your house may better serve a "needy" family.
This is the problem and the lines are being cleverly blurred by the politicos and the MSM. Should they get bonuses, no. Do they deserve them, no. But to allow congress to dissolve private contracts creates a much larger problem...one not unlike communisim, in fact that is what it would be.
When the congress gets involved in private business, this is what you get. AIG should have been allowed to file bankruptcy, cut some fat and re-organize. At the very least, the government should have made it part of their contract with AIG that no bonuses be given within a specified period of time.
