Obama’s Bonus Duplicity

    Wall Street bonus time is upon us and the shameless Obama “populist witch hunt smear machine” that we have all come to know over the past year is getting warmed up. As if on queue, from almost every corner of the media, journalists came forth, pitchforks in hand. In their columns, blogs and on their viewer free shows they grumbled: “How outrageous that these greedy | Read More »

    Should the FED be setting salaries for corporations?

    The short answer is I’m not sure.  For me, it depends on several things about which I am completely ignorant.  Nevertheless, I have an opinion or two. Where does the FED derive it’s authority to set salaries? If the authority derives from agreements (made at the time the FED loaned money to them) with the corporations, then yes they have the authority.  If the corporations | Read More »

    After Congress Finishes Investigating AIG . . .

    Let’s have Congress investigate itself: While Congress has been flaying companies for giving out bonuses while on the government dole, lawmakers have a longstanding tradition of rewarding their own employees with extra cash — also courtesy of taxpayers. Capitol Hill bonuses in 2008 were among the highest in years, according to LegiStorm, an organization that tracks payroll data. The average House aide earned 17% more | Read More »

    Unintended consequences of the Outrage o’ Meter (TM)

    Outrage sure feels good, hunh? I mean, the public sure let all those AIG guys have it! Nothing like giving those overpaid, greedy Wall Street (well, uh, Connecticut) b@stards the what-for! Except that people don’t like being made into public enemy #1; they have a tendency to up and leave. NEW YORK (Reuters) – Several more employees are leaving the controversial financial products unit that | Read More »

    Senate to discreetly shut down House AIG bill of attainder.

    They may call it “delay,” but they mean “eliminate” – and the Washington Post is happy to assist with putting this story on the seventh page. Senate Will Delay Action on Punitive Tax on Bonuses Jarred by a cool reception from the White House and fears of unintended consequences across the financial world, Senate leaders are likely to delay until late next month legislation to | Read More »

    A recap of the AIG Bonus Blame Party.

    So, let us review the bidding on the AIG bonus scandal, and who’s being blamed for it. The Senate, in the person of Senator Chris Dodd (D-CT), is blaming the executive branch, pretty explicitly. The House, in the person of Speaker Nancy Pelosi (D-CA), is likewise blaming the executive branch – but she’s also blaming the Senate. The White House doesn’t want to blame anybody… | Read More »

    Scott Murphy (D Cand, NY-20): ‘One of them.’

    Jim Tedisco reminds us that Murphy may have an inclination towards giving bonuses to companies losing money… …although that may not be an entirely fair comparison. After all, back then Murphy’s bonus scheme didn’t involve your money. I wonder if he’s still for passing that miscalled “stimulus” bill – Tedisco is on the record as opposing it, mind you – and I wonder if Murphy | Read More »

    Obama’s stimulus bill protects the AIG bonuses

    What outrageous crocodile tears. President Obama feigns choked up anger and Democrat Congress critters bloviate and threaten confiscatory taxes. It is all an act — an attempt to cover one’s posterior. The Associated Press reports the Obama administration and members of Congress have known for months that American International Group was getting ready to pay huge bonuses while surviving on taxpayer bailouts: It wasn’t until | Read More »

    Obama Received a $101,332 Bonus from AIG

    Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are – Senators Chris Dodd and Senator Barack Obama. The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle.  I would note that A.I.G.’s financial | Read More »

    Boni ‘R Us

    Hello.  My name is Alfred G. Iles and I am Chair and CEO of Boni ‘R Us.  If you’re not familiar with the term “Boni,” it’s the plural form of “Bonus.”  We thought it was more accurate and ‘cool’ to use the formal plural word rather than the more cumbersom “Bonuses ‘R Us.” We have a rather unique business strategy.  We process and provide executive and | Read More »