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Dear A.I.G., I quit!

http://www.nytimes.com/2009/03/25/opinion/25desantis.html

expatriate's picture
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Location: Arizona
Joined: 10/26/2002
Posts: 3207
Dear A.I.G., I quit!

Thanks for posting that, Civet; you've once again illustrated my point perfectly. In fact, despite all of your derision for Ayn Rand, you've torn a page out of her book and posted it for all to see.

It's all there -- an executive who's had enough and decided to pull out and go Galt. Why bust my butt and put in those long days if the looters of the world are going to confiscate the fruits of my labors? It's also a chilling testimony of a government-led witch hunt.

Thanks again -- good post.

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Location: Florida,USA
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Dear A.I.G., I quit!
expatriate wrote:
Thanks for posting that, Civet; you've once again illustrated my point perfectly. In fact, despite all of your derision for Ayn Rand, you've torn a page out of her book and posted it for all to see.

It's all there -- an executive who's had enough and decided to pull out and go Galt. Why bust my butt and put in those long days if the looters of the world are going to confiscate the fruits of my labors? It's also a chilling testimony of a government-led witch hunt.

Thanks again -- good post.

You will be seeing more of this I am afraid.
You can;t burn down your barn that's full of next years seeds just because the drought ruined your crop this year.
These are the people who are paying the vast majority of the taxes that the government relies on.
I'll give you one guess where they'll come looking for money when these "rich people" all leave the country to get paid for their hard work and Uncle Sam loses their Tax base..

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Location: California
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Dear A.I.G., I quit!

But...But Jtap, how can you say that? Everybody at KOSTV says the rich don't pay taxes. Al Franken said so!

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Dear A.I.G., I quit!

Of course he's an exec who racked up billions of losses. Despite what he says he did run the financial products division. And before that the same thing for UBS. In aggregate his life's work has added up to a net loss. He is sore because his boss asked him to give back the taxpayer money he was counting on. Instead he'll probably donate the money to a specialized library in Redding where he lives, that he likes to give donations to, our money dont' forget.

Like a lot of suposed free marketeers he's actually living off the public dole, welfare to the tune of millions. Whiny baby oughta be bustin rocks in a bad jail.

http://www.nytimes.com/2009/02/08/fashion/08halfmill.html

expatriate's picture
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Location: Arizona
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Dear A.I.G., I quit!

Bustin rocks in a bad jail...for what? What crime did he commit? He's an executive who put in a lot of hours pursuing his career. Would you reduce your salary to a dollar to try to save your employer? The money was promised to him as a retention package to get him to stay -- which he did. By contract, he earned it.

If AIG had been allowed to go under, it wouldn't have had the cash it needed to meet its financial obligations. But Obama's bailout gave the company the cash and liquidity to do so.

The problem with liberals is that they think it's some sort of crime if you earn more money than they do, and that you should go to jail for it. Wrong.

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Dear A.I.G., I quit!
civetcat wrote:
Like a lot of suposed free marketeers he's actually living off the public dole, welfare to the tune of millions. Whiny baby oughta be bustin rocks in a bad jail.

You're the whiny baby because you don't have the smarts to make the kind of money he did!

Just because he worked for AIG does not make him a criminal. In fact I'm willing to bet, most folks working there are not criminals.

If congress & Obama didn't want those bonuses to be paid, then they should have renegotiated the contracts BEFORE giving AIG the money! The people receiving the bonuses are not the criminals here! The dems screwed up on this one - they didn't even read what they were signing! Now they're trying to push the blame onto AIG execs.

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Dear A.I.G., I quit!

I read this analogy.

Can you imagine a construction company coming into your house for, say, a week. They fix your pipes and wiring. They burn your house down in the process. Then they try to charge you for the pipe work, because the it was just the electrician that caused the problem, the plumber had actually done some darn fine work, thank you very much.

Or more likely the electrician comes in drunk and high, and takes obvious risks with your wiring system, obvious fire hazards everywhere.

The plumber says nothing, but sends you a bill immediately after your house burns down.

Financial Products says derivatives to me. Worked for a dollar a year because he knew he was getting better than a million bucks at the end. Not the 4 or 5 million he was used to but enought to pay for the private schools and vacations. I think he and his candy xss ilk are way overpaid. The chairwoman of the SEC makes less, as does probably everyone else in financial regulation.

CBS gets it.

http://www.cbsnews.com/blogs/2009/03/25/business/econwatch/entry4892562....

Guy is a useless leach on the system, thinks he's working soooooo hard. Boo Hoo.

Cowgal I'm glad your 401K has been cut in half, go tell your buddy at AIG to make it right.

expatriate's picture
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Dear A.I.G., I quit!

Your analogy doesn't have it quite right.

The construction company comes to your house for the remodeling project. They give you their recommendations for what needs to be done. You disagree, and because you're high from smoking dope since junior high, insist that you want the entire kitchen on the same outlet to save money. The company says that's a tremendously bad idea to put that much amperage on one circuit, and you tell them to just install a 50 amp breaker. When they say they'll have to use expensive, enormous-gauge wiring to carry the load, you get upset and tell them to that it's your job to worry about your house, and it's their job to just do what you say.

Despite the warnings, you sign a contract that says you'll pay the contractor for doing the work exactly as you determined. The contractor does, and your house burns down.

When the press shows up to cover the fire, you tell them it was the contractor's fault for being so greedy and doing shoddy work. The contractor's business goes in the toilet as a result. You announce that you're generously going to save the contractor by buying his business. Once you buy the business and own all of its assets and liabilities, the plumber comes to you and asks for the back pay that his former employer owed him from a year ago. You go to the press again, denounce the plumber as one of the greedy incompetents involved in the project that destroyed your house, and send mobs to the plumber's house to threaten him and his family.

The talented employees of the company see how you're treating the plumber and say that's it -- they quit and go elsewhere. Pretty soon, the only people willing to work for you are those that don't know what they're doing and can't find work elsewhere. Within months, your company is burning everyone's houses down through incompetence and mismanagement.

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Dear A.I.G., I quit!
Quote:
Sixty-one percent (61%) of adults say the government should regulate the level of pay and bonuses for executives of a company that receives government funding, according to a new Rasmussen Reports national telephone survey. Twenty-seven percent (27%) disagree.

http://www.rasmussenreports.com/public_content/business/general_business...

And Rasmusen is the house polster for Republicans second only to "finger on the scales" Zogby.

expatriate's picture
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Location: Arizona
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Dear A.I.G., I quit!

Yeah, yeah...as usual you come up with a public opinion poll to try to justify a bad position. Here's one for you -- it's a bit old, but gets the point across. So much for public opinion polls as a test of truth:

http://www.cnn.com/US/9706/15/ufo.poll/

Does your sense of outrage over executive bonuses extend to the $320,000 Rahm Emmanual pocketed for 14 months of work at Freddie Mac?

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