US senator asked AIG executives to kill themselves
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an extract from CNN,
http://www.cnn.com/2009/POLITICS/03/16/AIG.bonuses/index.html?eref=rss_topstories
The president said he has asked Geithner to "pursue every single legal avenue to block these bonuses and make the American taxpayers whole."
Obama spared AIG's new CEO, Edward Liddy, from criticism, saying he got the job "after the contracts that led to these bonuses were agreed to last year."
But he said the impropriety of the bonuses goes beyond economics. "It's about our fundamental values," he said.
"All across the country, there are people who are working hard and meeting their responsibilities every single day, without the benefit of government bailouts or multimillion-dollar bonuses. You've got a bunch of small-business people here who are struggling just to keep their credit line open," Obama said.
"And all they ask is that everyone, from Main Street to Wall Street to Washington, play by the same rules. That is an ethic that we have to demand."
Obama said he would work with Congress to change the laws so that such a situation cannot happen again.
Then, coughing, he added in jest, "I'm choked up with anger here."
Republican Sen. Charles Grassley of Iowa didn't appear to be joking, however, when he spoke with Cedar Rapids, Iowa, radio station WMT.
"I would suggest the first thing that would make me feel a little better toward them [AIG executives] is if they follow the Japanese example and come before the American people and take that deep bow and say, 'I am sorry,' and then either do one of two things: resign or go commit suicide," he said.
"And in the case of the Japanese, they usually commit suicide."
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But they are bounded by the treaty, the contract of work stated that they get these bonuses, on one hand, you are calling for ethic practising, on the other hand, you hv to abide to the laws and contract. If USA govt dun wan to pay these AIG exec, then, the credibility of contract and laws which uphold USA as a law abiding country with the highest human rights, will be lost.
Even the Treasury Secretary is claiming that he cannot overturn the treaty/contract.
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Considering now the US Govt has a 80% stake in AIG, they should be able to stop the bonuses.
Or Not....
Obama's AIG Outrage: All Talk, No Action
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Originally posted by angel7030:
But they are bounded by the treaty, the contract of work stated that they get these bonuses, on one hand, you are calling for ethic practising, on the other hand, you hv to abide to the laws and contract. If USA govt dun wan to pay these AIG exec, then, the credibility of contract and laws which uphold USA as a law abiding country with the highest human rights, will be lost.
Even the Treasury Secretary is claiming that he cannot overturn the treaty/contract.
Its up to the management to see to go with the contract or not. I do not think its a hard line, people can always argue around it.
The americans should boycott AIG. They are looking more at short term money than the long term reputation. I guess the management are there just for the money and not for the business. Something that always happen when they are the power house with a certain degree of monopoly and so they should fall and the names of the management be condemned by the industry they are in.
I am going to boycott the AIG in singapore but then I think they are not related .....
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frankly no pt grilling eddy liddy as he is ask to come out of retirement to lead AIG. i think he was paid only $1.00 for his public service.
American govt spent over 150billion to bailout AIG, would it let it anger derail the purpose to saving it in the first place.
if i was obama , i would ask liddy to hand over the name of exec who wouldnt give back the bonus, like it or not. and put the name of such person on national newsapaper and sell the namelist to TV talkshow.
these top exec are not afraid of lawsuits, they are afraid to be shame!!