Wednesday, March 18, 2009

Dear Obama, Why are you Bitching?

During the week I can't help but feel like a robot, programmed for school & work only. It's not fun.

You know what else isn't fun? The government. Here's my two-cents of what's going on:
First, a short re-cap: AGI was given 180? billionish in the stimulus package. It has spent the money on employee and executive bonuses that are required to be payed...because of the damn stimulus bill.

Dear Obama, Why are you bitching about the bonuses being payed, when YOUR stimulus bill says: "shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009." -Click for the article at CNN.com

Why is everyone mad at the people at AIG when they're the ones following the rules? And it's funny that Congress is bitching, because guess who made those rules?

people are slowing starting to realize that someone in the government wrote this part of the Stimulus Bill that makes these contracts/bonuses unnegotiable...it didn't just appear.

If the stimulus bill wasn't around, AIG would have shortly run out of money & would have had to file Chapter 11 in order to avoid filing Chapter 7 (bankruptcy). Unless it gets to either of these points, everyone must abide by the company's contract. If the government would have stopped interfering, AIG would have filed Chapter 11, and would have been able to renegotiate contracts, and this "bonus problem" wouldn't exist.

2 comments:

  1. i dont know. i think i'm in love with you.

    ReplyDelete
  2. i think i'm in love with me too.

    ReplyDelete