Art has things to say, and he’s saying them. If you don’t want to read them, skip over and stick to the debate. It’s YOU who are the distraction, not Art.

There are All Kinds of Minds in this world, and we’re all a lot less normal than you’d think. So, a little kindness and tolerance, please.

Wasn’t trying to be your friend, Artie, ol’ boy. A joke at your expense is still a joke. Thought someone of your infinite intelligence would be able to tell the difference.
I don’t come to a weblog to “make friends” with anyone. Especially nut cases like you. That’s what work and bars and parties are for. There may be some that like your postings, but to assume they are your friends just shows how little you actually have any quality interaction with other human beings.
Maybe you should stop posting so much on a therapist’s blog and go see an actual therapist. That paranoia is really cutting into your social life, and it shows.

I’m glad to see that others see the contradiction of Obama and others’ positions. He can’t decide if he wants to be a friend to business or a leader in the class warfare platoon.

All this is, however, a distraction from the real important stuff which is that FASB is considering allowing the financial companies to value their securitized mortgages and other debts on the basis of the income being received rather than some phantom market price. They will make their decision on April 2nd. Should this occur, I predict that much of the uncertainty and doubt about financial balance sheets will be relieved. It might just lead to (gasp) a bottom in the stock market.
Stay tuned.

Errr…So bonuses + litigation + expenditures. The original $165 million, + costs of litigation = some number greater than $165 million. I’m guessing $200 million, but it could be less if action happens quickly, or much more if it drags out for several years, and the employees ask for interest to accrue.

Wrong answer. This is contract law, which is pretty much cut & dried. There are two approaches to attacking a contract: is the contract valid, and was the contract fullfilled? since they’re getting bonuses, I would have to guess that the second condition is true.

As for the first condition? odds are, it is a valid contract written in standard boilerplate that have been examined by the courts and found to be legal and correct.

Sure, AIG could “void” the contracts, but all that’ll do is lower morale, piss of their employees, and get them sued for breach of contract.

Which they’ll lose. So not only will they have pissed-off employees with lowered morale, they’ll have spent money on their lawyers to unsucessfully void contracts, and be on the hook for the plaintiffs lawyers as well.

Oh, and costs & so on.

So litigation + expenditures and so will end up costing AIG in excess of $200 million when the dust finally settles.

Face. Nose. Cut. Off. Spite.

Not only that, but Chris Dodd stuck in language in Porkulus that says something along the lines of “contracts approved by $DATE are OK with us”, with $DATE being something like 11 Feb 2009.

“Petard, whats a F&N petard? and how can i hoist my own when i dont even know what it is?!!??!?!!!!!”

for those challenged:

hoist by or with one’s own petard, hurt, ruined, or destroyed by the very device or plot one had intended for another.

as a noun:
1. an explosive device formerly used in warfare to blow in a door or gate, form a breach in a wall, etc.
2. a kind of firecracker.
3. (initial capital letter) Also called Flying Dustbin. a British spigot mortar of World War II that fired a 40-pound (18 kg) finned bomb, designed to destroy pillboxes and other concrete obstacles.

and the whole reason i bothered..

Origin:
1590—1600;

using the last, it may mean, gassed by your own gas!!! 🙂

Obama’s Stimulus Bill Explicitly Grants AIG the Legal Right to Give Unlimited Bonuses

“(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a writte employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.”

so it looks real crappy that he is against himself!!!!

http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig—time/

This time Chris Dodd’s hands are soooo dirty. 🙁

Obama and Dodd, Obama and Dodd, Obama and Dodd.

Why do I say this? It seems that Dodd and Obama were large recipients from many players like Fannie, Freddie and now AIG.

The two largest recipients of any politicians.

And we just elected Obama – if only the people knew !!! :O

Amazing AIG story.

My take. The president is using his BULLY pulpit for the wrong purposes.

Let the people BELOW him do their jobs. Or are they incapable.

This looks like responsible reporting by the Washington Post. It should be read out loud by Obama to the people. Like “My Pet Goat”.

Obama’s moves in this debacle have been atrocious.