Re: The Bailout
The reason being used by the Administration/Treasury Department for the pay-out of bonuses to the executives of AIG is that they were fearful they would be sued otherwise, because the contracts of these executives provide for the payment of bonuses.
AS FAR AS I CAN TELL, THE EXECUTIVES OF AIG DIDN'T HAVE A CONTRACT WITH THE TAXPAYERS OF THIS COUNTRY OR THE TREASURY DEPARTMENT to provide them with bonus money.
Please, correct me if I'm wrong.
Are the executives of AIG employees of the Treasury Deparment?
Since taxpayer money was used to bail-out AIG, does this mean that we own them?
Are we the new Board of Directors?
How much stock have we acquired in the company?
I would think there should be a clause in the contract of executives who are apparently guaranteed bonus money that they shall not receive any in the event of POOR performance such as bankrupting the company.
Rather than allowing the executives of AIG to pick the pockets of the Treasury Department through lawsuits, who, apparently have a contract with them to provide bonuses even though their company was insolvent, and, as far as I can tell, they are not employees of the Treasury Department, decided it would be best to let them pick the pockets of the taxpayers.
If the FED didn't own AIG previously, they certainly do now.