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Wall Street Bonuses

Geithner Gives Away 2 Trillion While Country Screams About A Few Hundred Million At AIG

Ian Welsh | Posted 05.25.2011 | Politics
Ian Welsh

What Geithner is doing right now is similar to how a magician works. First he gets your attention on one thing "look, outrageous bonuses at AIG", then he does his trick while you're watching what he wants you to watch.

Beyond Clawback: Using the Tax Code More Expansively to Address AIG Bonuses

Paul Abrams | Posted 05.25.2011 | Business
Paul Abrams

The much-reviled US tax code contains within it thousands of treatments and exclusions that enable subclasses of people to enjoy deductions, credits or even exclusions from paying taxes.

Upset with AIG? How About Your Bailout Funds Supporting Tiger Woods and Europe's Soccer Stars?

James Warren | Posted 05.25.2011 | Business
James Warren

There are few topics more fit for bailout-inspired vitriol than the sports marketing and sponsorship deals bargained by financial services firms and automakers surviving due to taxpayer largess.

AIG Underscores the Need for Real Time Financial Accountability

Rep. Carolyn Maloney | Posted 05.25.2011 | Business
Rep. Carolyn Maloney

With so much confusion in the financial marketplace, one thing is apparent: the American people deserve to know what government-supported banks are doing and how our tax dollars are being used.

Larry Summers' Ludicrous View On AIG Bonuses

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

If not for the taxpayer, AIG would be bankrupt, and the folks holding those contracts would be standing at the end of the creditor line.

Dangling from the AIG Noose - Our Slow and Painful Strangulation

Sheila Tendy | Posted 05.25.2011 | Business
Sheila Tendy

Where are these AIG contracts, anyway? They should be put in the public domain so every lawyer in America can give an opinion about their meaning and validity.

What to Do About "Mad as Hell"

Deepak Chopra | Posted 05.25.2011 | Politics
Deepak Chopra

What would it take to change a whole subculture that has escaped all ethical boundaries?

Unacceptable Excuse of the Day

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

The ongoing AIG mess provides us with an interesting sidelight today -- the use of an excuse that is no longer acceptable in the unwired global universe in which we now live.

Getting Lehman Wrong a Second Time

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

The sums of money going to bail out the financial industry dwarf the waste and pork that get John McCain and other budget hawks excited. Yet they are strangely calm about the bailout money.

Tim Geithner Needs To Answer For AIG

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

Americans will justifiably ask who got us into this mess. The answer, in part, is the same man who has yet to come up with a coherent plan to get us out of it:

Powerball Jack and the Wall Street Bailout

Don McNay | Posted 05.25.2011 | Business
Don McNay

If the people on Wall Street knew that no one would ever be there to bail them out, ever again, they would be less inclined to gamble with instruments they don't really understand.

Lame Excuses for AIG Bonuses

Amitai Etzioni | Posted 05.25.2011 | Business
Amitai Etzioni

Public morality falls to a new low-level when outrageous acts are revealed but rather than being soon corrected -- they are excused.

Good Work, AIG!

Jonathan Richards | Posted 05.25.2011 | Politics
Jonathan Richards

The bonuses may seem greedy, but look what quality stuff they're producing! ...

How to Stop AIG's Bonuses

Bill Black, Tom Ferguson, Rob Johnson, Walker Todd | Posted 05.25.2011 | Business
Bill Black, Tom Ferguson, Rob Johnson, Walker Todd

Today the task is to stop a grotesque abuse before it is too late. The path we outline here would do it, without throwing markets into turmoil.

Why Obama Was Smart to Come Out Strongly Against the AIG Bonuses

Mitchell Bard | Posted 05.25.2011 | Politics
Mitchell Bard

The Republicans were going to grab onto the populist anti-bank feelings in the country to position themselves as the party of the people, with the Democrats being cast as the party of the bankers.

AIG Bonus Scandal Spotlights the Bankruptcy of Wall Street's "Greed is Good" Values

Robert Creamer | Posted 05.25.2011 | Business
Robert Creamer

Greed was never good. Normal people know that, but it has been completely lost on the Wall Street crowd and the American economic elite.

Lifting the Tarp: Will President Obama's Economic Team Lead Him Off a Cliff?

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

The outrage over the AIG bonuses is a sideshow. The larger problem, both financially and politically, is the entire strategy for rescuing the banks. Obama needs to get a second opinion.

The Real Scandal of AIG

Robert Reich | Posted 05.25.2011 | Business
Robert Reich

When our very own Secretary of the Treasury cannot make stick his decision that AIG's bonuses should not be paid, only one conclusion can be drawn: AIG is accountable to no one.

Ain't I Greedy!

Robert S. McElvaine | Posted 05.25.2011 | Business
Robert S. McElvaine

Ever since AIG entered the public consciousness in a very negative way last fall, people have been wondering what the initials stand for.

Larry Summers: Stop the AIG Bonuses. Yes You Can.

Aaron Zelinsky | Posted 05.25.2011 | Business
Aaron Zelinsky

Larry Summers claims that nothing can be done about the AIG bonuses. As a former Secretary of the Treasury, he should know better.

Are You Worthy? It's Time to Question Meritocracy

Phillip Martin | Posted 05.25.2011 | Politics
Phillip Martin

Rick Santelli's self-righteous outburst directed at down-on-their-luck foreclosed home buyers amounts to what the late sociologist William Ryan termed "blaming the victim."

In New Terror Video, AIG Demands Huge Ransom from U.S.

Andy Borowitz | Posted 05.25.2011 | Comedy
Andy Borowitz

In the four-minute tape, a man believed to be the chairman of AIG says that if his organization is not paid its ransom, "chaos and destruction will rain down on the American economy."

Who Keeps Screwing Us Over?

Cenk Uygur | Posted 05.25.2011 | Politics
Cenk Uygur

Our politicians make a big display of yelling at the CEOs and then the very next day they quietly remove any cap on their compensation. These people are not on our side.

Wall Street Mocked American Values

Thomas Frank | Posted 05.25.2011 | Business
Thomas Frank

The announcement that Trader Monthly magazine was ceasing publication was one of those moments when a chance arrow of history scores a perfect bull's eye on a deserving target.

Wealth Without Wall Street

Don McNay | Posted 05.25.2011 | Business
Don McNay

There has been a long and irreversible trend toward small, entrepreneurial businesses, located far from money centers. Instead, Washington keeps throwing money at these "too big to fail" money losers.