Grandfather bonuses...?

They say AIG is giving a top executive a 100 million dollar bonus; nobody can stop it; it's a grandfather contract. Well
don't you think somebody in control of the company when that
contract was signed, should've had the forethought to put in
small print, [bonuses would only be paid if investment
choices were successful]! Who ever heard of rewarding failure
at the tune of 100 million dollars? Think this ticks me off? You bet it does!

We had the same outcry over here with Banker's bonuses, Jabber. It's obscene, is'nt it? They must have hired lawyers from the firm of Dewey Cheatum & Howe.

I am so glad that the Canadian govn't never bailed out our banks here during the economic downturn last year (which is still hanging around now).

But then Canadian banks were not in as deep financial trouble as the U.S.-grown banks simply because our federal govn't strict legislation on the banking industry. The Canadian banking execs. are probably still getting their annual bonuses..but there's no bailout money from Canadian govn't for them.

I know people have said that less legislation is better to do business. I disagree when there isn't protection for the consumer's/public's personal finances, mental health and physical safety/physical health.

I have a accident policy with AIG, Oops, should have said HAD! I cancelled it this morning after hearing this crap...

I was just blowing off steam. It does tick me off, but nothin' a
little ole peon, such as I, can do. Simply do not get the mind-
set that allows this type of nonsense. Even if these executives
had been successful, those size bonuses are not justified.
What's the matter with people? Good grief!!!! Lola, love the
name, Dewey Cheatum & Howe! Orchid, B glad U live in Canada!!!
That's a beautiful country! I love Canada! Terrorism has made it
difficult for us to get up there; we need an enhanced, photo
license, which we haven't gotten as yet. There's a lot of rigmarole a person has to go through to get 1! Haven't taken the
time to do it.

Jabber: What the heck is an ENHANCED photo license? Does one have to get a fresh hair tint, botox, and a facelift to pass muster? lol

As far as money-crazy, I was just hearing on the news that in 2009, we added 360 BILLION dollars to our Chinese debt IN INTEREST ALONE. And this year, if the US does not borrow from China, which it does every week regularly, we still have another 500 BILLION dollar INTEREST deficit on the horizon.

Kinda makes my $400 gas & electric bill seem mighty puny!

If Moody downgrades our bond ratings, we are in real trouble. Then the AIG issue will seem like a tiny newspaper article on the bottom of page 29.

Thank God I'm into carbs, which are real gut fillers.

Most of us boomers know how to balance our little piles of moolah. Maybe one of us could write a book for the guys? lol

Jabber I don't know if there's that much of cost difference between U.S. enhanced driver's license and U.S. passport to travel across international borders. Why not just get the U.S. passport so that you can go into Canada...and worldwide? You never know how you and hubby might feel about travelling outside of North America within the next few years. Life is short, you might want to be more spontaneous. Quebec is a great alternative to Europe.

You live in New York State not in Nebraska....much closer to the international border than many other Americans. So higher probability of travelling cross-broder.

I get and retain the highest level of international govn't documentation ..that is my Canadian passport. It is the only ID now for all Canadians wishing to travel into the U.S. (and in other countries). That is law now in effect. Before Canadians could use their photo ID driver's license. Not anymore.

Even my dearie, before 911 incident that caused national travel laws to tighten, who could have used his drivers' license to travel into U.S. (he travelled alot for biz in his career into the U.S.), always ensured he had a valid current CAnadian passport. He needed and wanted the highest and most flexible valid govn't issued ID for international travel.

It is your strongest ID as an American citizen travelling internationally.

I absolutely value my Canadian citizenship and ..passport. I don't take it for granted.

WB will never travel in an airplane. I went to Italy in '95 and
he wouldn't go with me. We used to go to Canada, Ft. Erie, and
celebrate our birthdays and all our friends, there was about
12 of us that went, to a special Chinese restaurant periodically. Never had a problem crossing the border.
Enhanced Driver's License requires all sorts of proof, Birth Certificates, background checks, filling out papers [proofs of identity, uS citizenship and NYS Residence] application and questions, etc., certification, yada, yada, yada. They'll let terrorists in without a problem. Tax paying residents go through the third-degree!

Too bad your hubby doesn't like to fly. Sounds like my partner's daughter (she's 32).

Frankly I've been more than willing to do the simple paperwork, birth certificate and background checks to apply and renew my passport ever 7 years.

I've been doing this for past 25 years of my life.
It will be a big deal ...only in the minds of legitimate citizens. that's why one has to apply several months in advance ...not wait the last minute.

What is the big deal? Put yourself in my shoes...look at me...how can anyone be certain that I am Canadian. LThis is why I am so willing to submit myself to the passport process..I am flippin' proud to show my Canadian passport because that's who I am...and I need that protection.

These bonuses are outrageous! My partner and I decided a couple of years ago that we could run a company into the ground for half what some of these guys are getting and save the company some money!

orchid,
It's not that I'm not proud to be American; I love this country.
I just haven't taken the time. I have a passport but think it's
obsolete by now. I'll get around to doing that enhanced license
thing one of these days. Been extremely busy as of recent years
that's the only reason we haven't done it. I know WB has talked
about it, for we loved going to Canada. Wouldn't mind going to
Calgary one of these days. You take care. Prayers and blessings,

These bonuses are more than most hare working Americans make in two years, even more. It's just stupid and unnecessary because these same people make huge salaries, have expense accounts and company cars, geesh!!! In a thriving economy okay we can waste money but not in todays economic situation, it just stinks!

Hey jabber, hope you and WB get to Canada again. British Columbia is beautiful. And after the Olympics, it'll be more sane.

Chatty- right on. Those bonuses for execs can be shockingly huge plus company perks.