Comments on: A Week After Bailout: AIG Execs Take A Vacation?

By: Danielle

Danielle — Sat, 11 Oct 2008 20:01:26 +0000

@ S. Fanara – Well said – I am glad that this is issue is being discussed in homes across the U.S. (and Canada). We take for granted that corporations have a social responsibility, and too often they get away with ignoring this responsibility. It is time they are held to account for this. Not only AIG, but all corporations who work to cheat the public. Large corporations should be held to the same standards of ethics.

By: S. Fanara

S. Fanara — Sat, 11 Oct 2008 17:22:49 +0000

Philip E. and Chad, I completely agree with you although I think that’s just a starter. Way more should be done to bring accountability into the equation. Does anyone realize that if you and I create a company and we eventually go under for criminal mismanagement, scandals, scams and/or other reasons involving illegality, we will not get $85 billion… the only thing we will get will be a sentence to confiscate all our assets and do time! Why should it be any different for anybody else? Last time I checked this country stated that we are all equal under the law and one is not guilty until prove of the contrary is given beyond any reasonable doubt… so let bring back accountability for fraud masters in US!

By: S. Fanara

S. Fanara — Sat, 11 Oct 2008 17:14:22 +0000

Angry Max, what an empty statement… you better wake up! While you were sleeping “Kapitalism” went global!

By: S. Fanara

S. Fanara — Sat, 11 Oct 2008 17:13:06 +0000

Kane, get your fact straight. Deregulation for wall street, financial institutions and the likes, has been pushed and supported by republicans not democrats. Do I need to mention the “Keating 5″ scandal, which involved among others John McCain? That was just the tip of the iceberg. Then came sub-prime and all kinds of uncontrolled operations that eventually and inevitably, screwed main street and wall street both! It’s unforgivable that such lack of control has been allowed for companies who can so directly affect the health of a country and (post-globalization) the entire world! Now that it finally exploded leaving massive casualties behind, deregulation is now seen for what it has always been a the time-bomb.
We seem to have forgotten history and why regulations were put into place after the great depression. One of the resulting bodies of control established was the SEC and with reason! Add to it that corruption, in times of financial flourishing (or so perceived), went unpunished, also by keeping regulations out of the picture allowing the entire financial world to make and bend rules in order to maximize profits through all kind of scams where unaware investors were dragged into. This should give you one of the multiple factors why we ended up where we are now.

By: S. Fanara

S. Fanara — Sat, 11 Oct 2008 16:50:25 +0000

Dear Robert Bland,

I understand your point about trips like that being important to independent agents and that a reward system helps keep in the company valuable people. But that’s not a fair defense (if you allow me) in this specific case. Any company borrowing money, in this instance from taxpayers, not banks or other financial institutions, should watch expenses even more closely than they should usually do. If my company would happen to be in dire straits, I would be the first to cancel my own unnecessary expenses. That would include expensive vacations, bonuses and the likes! That’s because when the company can afford it because produced wealth, then rewards should be given out to those who helped produce such wealth, and the same should apply when the company is at loss!
No company would ask to its employees to help pay back its losses (although through the bailout it’s actually happening to a certain degree). But I really don’t get how you can still defend the unnecessary vacation in time of financial troubles. Sure the 440K would not solve the company problems, but believe me when I say that if AIG would have announced canceling such vacation and bonuses the company image would have benefited from it in a unmeasurable way!

By: Chad

Chad — Thu, 09 Oct 2008 21:43:49 +0000

I agree with Philip….don’t seize everything they have, not just money…..take everything. I was not even in favor of the whole bailing them out, but them doing this is a complete slap in the face.

I changed my insurance today and hope every other AIG customer does the same. The government shouldn’t have bailed them out because if we all band together and boycott them…..they’ll be broke again soon!!

By: Kane Fielding

Kane Fielding — Thu, 09 Oct 2008 18:45:29 +0000

You can’t blame everything on AIG Agents. The democratic party are the ones who signed the bill forcing companies like AIG to agree to the high risk loans

By: Angry Max

Angry Max — Thu, 09 Oct 2008 16:03:22 +0000

Kapitalism is over… WAKE UP USA!

By: Update: AIG Vacation Defended, U.S. Gives AIG Another $38 Billion « canadian maple

Thu, 09 Oct 2008 00:29:52 +0000

[...] 8, 2008 · No Comments While AIG has been defending their recent vacation to the tune of $440,000 to a committee in the U.S., it was decided that the obvious course would be to give them even more [...]

By: Philip Escobedo

Philip Escobedo — Wed, 08 Oct 2008 22:47:42 +0000

I definitely think all their money and assets should be seized by the government to help pay for the bailout. Not a lot of money, ALL of their money and assets. Leave them on the street to fend for themselves.