Open Letter to Obama: AIG Bonuses

 

 

Obama says no to AIG bonus payout

US President Barack Obama said on Monday that his administration will stop insurance giant American International Group (AIG) from paying 165 million dollars of bonuses to its executives.   "It's hard to understand how derivative traders at AIG warranted any bonuses, much less 165 million dollars in extra pay," Obama said at the outset of an appearance to announce a plan to boost small businesses loans.     US President Barack Obama (L) and Treasury Secretary Timothy Geithner arrive in the East Room of the White House in Washington March 16, 2009 to make announcements on helping small business during the economic crisis. [Xinhua]        "How do they justify this outrage to the taxpayers who are keeping the company afloat," the president said, adding that the insurer is in financial straits because of "recklessness and greed".

 

To Barack Obama:

I support your statement. How in the world can these wall street criminal take our tax dollars and give millions of dollars to each other.

You are responsible to make sure these people are punished.

The solution is end corporatism.  Fascism and Bolshevism have been overcome.  They had armies to defend them.  Corporatism has nothing but you protecting it.

How in the world can a corporation be a person.  It is not a person.  But the current law gives it has more rights than a person.

Outrageous!

The solution is to promote cooperatives.  We have a 12,000 member food cooperative here in Brooklyn and it's goal is sustainability, not exploitation.   And we have no problem with meltdowns and greed and excessive bonuses.