AIG CEO Liddy Kicks Some Congressional Ass

[Roadtrippin']

If you took advantage of the opportunity to watch C-Span's coverage of Liddy's appearance before the Fin. Subcmte. on Capital Markets (and I am sure you did), then you realize what a bunch of grandstanding, smug, dumbasses we have in Congress. Anyone who watched that hearing and still believes that Democrats can possibly provide the answer to our economy deserves to have their testicles and/or teets fed to a polar bear.

[joetama]

I stopped watching CSPAN and news channels because I was about to go insane listening to the drivel that comes out of the idiots people elect.

I don't vote, because there is no one worth voting for. :fyi:

[Roadtrippin']

I stopped watching CSPAN and news channels because I was about to go insane listening to the drivel that comes out of the idiots people elect.

I don't vote, because there is no one worth voting for. :fyi:

Yep, I felt that way during the last election -- even though I ended up voting.

If you watch the Democrats in action on this subcomittee it will renew your drive to vote. There truly is a credibility gap between Republicans and Democrats in the way they behaved today.

The Dems ask the most idiotic questions imaginable in such a self rightous manner that it is disgusting.

[joetama]

BLah... I don't even want to think about it. Having those people at the controls of our government makes me ill. What makes me sicker is knowing people voted for them.

I just hope our government is really run like in bad conspiracy movies, where one group of secluded republicans really control everything.

[Roadtrippin']

Maybe Dick Cheney is still secretly in charge. Come to think of it, I never saw him board a plane departing D.C.

[bluecar]

The government put Liddy in the power. Is everyone forgetting that? He's supposed to be the Treasury's boy.

[Roadtrippin']

The government put Liddy in the power. Is everyone forgetting that? He's supposed to be the Treasury's boy.

Not only did they put him in that position, they requested that the man come out of retirement and he is working for free. The man did not deserve to have those blowhards grandstand at his expense. I thought he came across as intelligent and sincere, which is a lot more than can be said for the congressmen.

Incredibly, their suggested solution was for AIG to ignore it's contractual obligations, force the employees to sue AIG with the mindset that by the time the cases worked there way through litigation AIG could declare bankruptcy an avoid the obligations. What a lesson for the American public.

What amazed me is that not one of those brilliant lawyers turned congressmen suggested that they may have overlooked a legitimate course of action, which would have been to file a preemptory lawsuit asking a federal court to enter a declaratory judgment as to the company's obligations under the contract. That is a far more prudent course of action than simply ignoring your obligations. It is also more ethical than purposefully delaying obligations through litigation.

[bluecar]

What amazed me is that not one of those brilliant lawyers turned congressmen suggested that they may have overlooked a legitimate course of action, which would have been to file a preemptory lawsuit asking a federal court to enter a declaratory judgment as to the company's obligations under the contract. That is a far more prudent course of action than simply ignoring your obligations. It is also more ethical than purposefully delaying obligations through litigation.

So, have a judge say whether or not the employees get the bonus? That would be rather risky.


I am not behind Cummomo (whatever his fucking name is) pushing to get a list of who received a bonus was. He doesn't care who gave the money back and I bet some crazy nutjob may threaten/kill an employee over those bonuses. They are already sending death threats.

[Spider Monkey]

BLah... I don't even want to think about it. Having those people at the controls of our government makes me ill. What makes me sicker is knowing people voted for them..

The what the fuck are you doing in this thread? lolz

[Roadtrippin']

So, have a judge say whether or not the employees get the bonus? That would be rather risky.


I am not behind Cummomo (whatever his fucking name is) pushing to get a list of who received a bonus was. He doesn't care who gave the money back and I bet some crazy nutjob may threaten/kill an employee over those bonuses. They are already sending death threats.

It all depends on the goal. If Liddy really thinks that the employees are essential and that they will walk without the bonuses then you are right it would be risky. If, however, he would prefer not to pay the bonuses or he values "political cover" more than the employees, then this could have been the best way to go.

Based on the little info I have, I think the better argument is that the the contracts were enforceable. There is nothing inherently illegal about them in the first place. The only thing that changed was the bailout money, and the legslation providing for those disbusements specifically stated that such bonuses would not be effected (at least that is my understanding).

As far as Franks' request for names, he once again proved what a douche he is. He acted like a complete idiot expecting Libby to agree on the spot to the request for the names. I hate that mush mouth bastard.

[joetama]

The what the fuck are you doing in this thread? lolz

What thread should I be in?

[Spider Monkey]

What thread should I be in?

I'd link you but that would be a huge no-no.

[bluecar]

It all depends on the goal. If Liddy really thinks that the employees are essential and that they will walk without the bonuses then you are right it would be risky. If, however, he would prefer not to pay the bonuses or he values "political cover" more than the employees, then this could have been the best way to go.

So you think the judge would rule that the contracts are now unenforcable?

Like I told Iam....that would be a huge blow to capitalism.

[joetama]

I'd link you but that would be a huge no-no.

I'm trying to avoid this place because I'm studying for my Business Law final at 6PM.

[Roadtrippin']

So you think the judge would rule that the contracts are now unenforcable?

Like I told Iam....that would be a huge blow to capitalism.

Based on what I know I think that the contracts would be enforceable. However, you never know what a particular court may do. There are some real crazies out there.

[Rashaddd]

http://img.photobucket.com/albums/v196/th3n00b/family-guy-i-disagree-1.jpg

[Roadtrippin']

http://img.photobucket.com/albums/v196/th3n00b/family-guy-i-disagree-1.jpg

I notice that you have altered your appearance in order to bolster your argument.

[Rashaddd]

nvm

[Rashaddd]

is it working?