GOP Senator: AIG Execs Should Follow Japanese Model — Suicide or Apology
In an interview with Cedar Rapids, Iowa, radio station WMT-AM today, Sen. Chuck Grassley, R-Iowa, ranking Republican on the Senate Finance Committee, said executives of AIG should consider following what he described of the Japanese model of shamed corporate executives: apology or suicide.
"I don’t know whether the ($165 million in bonuses) is an issue as much as just the chutzpah of the people running AIG," Grassley said. "That they could thumb their nose at the taxpayers, it’s more that.
"The attitude of these corporate executives and bank executives, and most of them are in New York, that somehow they’re not responsible for their company going into the tank," he said.
"I suggest, you know, obviously maybe they ought to be removed, but I would suggest that the first thing that would make me feel a little bit better towards them [is] if they would follow the Japanese example and come before the American people and take that deep bow and say I’m sorry and then either do one of two things: resign or go commit suicide."
Grassley added, "In the case of the Japanese, they usually commit suicide before they make any apology."
In a Tuesday morning conference call, Grassley told reporters, according to the Associated Press, that "what I’m expressing here obviously is not that I want people to commit suicide. That’s not my notion. But I do feel very strongly that we have not had statements of apology, statements of remorse, statements of contrition on the part of CEOs of manufacturing companies or banks or financial services or insurance companies that are asking for bailouts."
Last October, Grassley invoked the Japanese model a little less harshly.
"I’ve suggested it wouldn’t be a bad thing that the leadership of these institutions would take a Japanese-style approach to corporate governance," he said then. "And I’m not talking about going out and committing suicide as some Japanese do in these circumstances, but I am talking about scenes I’ve seen on television where in belly-up corporations the CEOs go before the board of directors, before the public, before the stockholders and bow deeply and apologize for their mismanagement. Something like that happening among Wall Street executives would go a long way toward satisfying my constituents and many Americans that help might be needed and would more gracefully be given by the taxpayers of this county."
And responding to the news that Wall Street bankers gave themselves $18.4 billion worth of bonuses in 2008, Grassley told the New York Times’ Maureen Dowd at the end of January that the executives "ought to give ‘em back or we should go get ‘em. If this were Japan and a corporate executive did what is being done on Wall Street, they’d either go out and commit suicide or go before the board of directors and the country and take a very deep bow and apologize.”
- jpt
* This post has been updated.

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The sense of entitlement that these coupon-clippers have is astounding.
Posted by: Flash Override | March 16, 2009, 8:12 pm 8:12 pm
I do not like it, but I wouldn’t go so far as Suicide; an apology? Don’t make me laugh. It would be insincere, and useless.
Posted by: Thinking | March 16, 2009, 8:14 pm 8:14 pm
Mr. Obama’s judgement is now very questionable. As a leader, he should have at least asked these critical questions at the beginning even before using the hard-earned bailout money. It happened then to Merille Lynch then and now to AIG. He’s like a grandfather who took his grandchildren’s money and goes to a casino to ensure his grandchildren’s children’s future.
Posted by: young_voter | March 16, 2009, 8:19 pm 8:19 pm
Keep in mind that bailout money has been flowing to AIG since September — before Obama was even elected. Both political parties are responsible for this mess. I can’t believe that bonuses still get paid out when the company is facing massive losses like this. It is ridiculous and no other industry/company works this way. If these people had any conscience they would refuse the bonuses.
Posted by: jane | March 16, 2009, 8:35 pm 8:35 pm
Check your facts ‘young_voter’, Obama was still a US Senator & president elect when AIG first received funds from the US Govt. To somehow connect that lack of oversight to Obama is unfair and untrue. I’m sorry to see the agendas of a few bleed through to show their true motive of undermining a new president who has done astonishingly well in the face of immense adversity. Place the blame where it should be, on the personell of AIG. Their lack of shame, lack of integrity and lack of personal moral code is horrific. I feel sorry for their children, who will learn their values in a house of greed and learn their morals from parents who disassociate failed performance in the workplace with undue compensation.
Posted by: Robert Dent | March 16, 2009, 8:40 pm 8:40 pm
young_voter, it was George W Bush and his Treasury Secretary Paulsen who bailed AIG out under TARP, which was rammed through Congress very quickly with almost no discussion or debate because Congressmen were told that this country would collapse if they didn’t pass the bailout. And the Bush TARP bailout came after the Federal Reserve Board gave AIG an undisclosed amount of money with no strings. The Obama administration gave additional TARP funds to AIG after they sent a confidential letter stating they were on the verge of failure and couldn’t survive without more TARP funds. As we now learn, after the fact, AIG just didn’t have enough money to pay all these bonuses.
And Merrill Lynch was also bailed out by the Bush administration, not by Obama. He’s been calling for stringent limits on future bailouts but Republicans in Congress are resisting it…must have a completely unregulated “free market” economy running amok, y’know. That’s the GOP’s mantra, always has been, always will be.
And no matter how many depressions happen under Republican presidents due to little or no regulation of the financial sectors, the GOP never learns. I guarantee, they’ll be right back arguing for more deregulation as soon as this recession/depression fades from view.
Posted by: windrider | March 16, 2009, 8:43 pm 8:43 pm
I live in Japan. Suicide is not a joke, and we have too much of it already. Holding up the Japanese as an example in this area will only convince more people they are duty bound to do it.
Posted by: Hokuto | March 16, 2009, 8:43 pm 8:43 pm
I am so sickened and appalled with the unthinkable methodology of AIG in the rape of the American people’s good intentions as a ‘helping from the heart’ with these different financial institutions bailout of a very serious financial breakdown. For AIG to take $130 billion dollars of taxpayer bailout money and use ‘internal contracts’ as a blatant excuse to get around the ‘spirit’ of this governmental bailout…that is to pay outrageous unsanctified bonuses to top executives is a horrible misuse of governmental funding via the hardworking taxpayer dollar. There is the law and there is the ‘spirit’ of that law and this ‘spirit’ has been violated in the worst possible way by AIG. I don’t care what the law says; they have violated the ‘good faith’ contract of the American public by their intentional misuse of these funds. I think that the American people represented by the President should “take back every nickel” of that $130 billion dollar bailout from AIG and let the chips fall where they may. I am 60 years old and I have been looking for a job for two years. Let AIG pay for my lost wages in this Bush-related economy. Disgusting greed!
Posted by: Kenneth Peasley | March 16, 2009, 8:51 pm 8:51 pm
Mr. Obama’s judgement is now very questionable. As a leader, he should have at least asked these critical questions at the beginning even before using the hard-earned bailout money
***************************************
BS; this money was allocated last Sept Oct time frame it is not from Tarp 1, Tarp, 2 or the stimulus. It was given under Bush from the treasury.
Posted by: Thinking | March 16, 2009, 8:55 pm 8:55 pm
young_voter, it was George W Bush and his Treasury Secretary Paulsen who bailed AIG out under TARP,
***************************************
No not under Tarp. This money was part of a bail out before tarp it was issued under some law written during the depression.
Posted by: Thinking | March 16, 2009, 8:57 pm 8:57 pm
That suicide thing is way out of line. What he H*** is an apology? Give me 20 million dollars and I will make all the apoligizes your a** can hear. I will gravel at your feet, I will be sub servient to you. And I will be laughing all the way to the BANK! CAUSE I WANT MY 20 MILLION DOLLARS!
Posted by: 52ark | March 16, 2009, 8:59 pm 8:59 pm
Senator Grassley’s comments are despicable. Nobody should ever be encouraged to commit suicide. And, these comments are particularly disappointing because they come from a Senator who claims to be religious. Shame on you, Senator Grassley.
Posted by: LarryP | March 16, 2009, 9:02 pm 9:02 pm
Stop the Madness. If AIG is too big to fail then break AIG up. The Congress broke up Bell Standard Oil and others. Stop the “Promised 30 Billion” that has not been paid and DO NOT give them any more money. Wall Street is continuing to try and Steal EVERY penney in the country. Why should we care if the economy crashes, we do not have any more money to lose.
Posted by: Will Potter | March 16, 2009, 9:02 pm 9:02 pm
Amazing Jake, Obama wants to make soldiers pay for private insurance, instead of getting military benefits…and all you people can find is stories about bull like this
Posted by: samhiguchi | March 16, 2009, 9:05 pm 9:05 pm
Does Sen. Chuck Grassley think this should apply to failed politicians, too?
I’d really love to see all of the active, pre-2008 election Senators and Representatives line up on the steps of Capital Hill and get busy with the whole “apology or suicide” thing.
Posted by: I'm With Stupid | March 16, 2009, 9:05 pm 9:05 pm
“If AIG is too big to fail then break AIG up”
The Fed Chair plans to. He gave a great interview on 60 Minutes and addressed this very issue.
Posted by: Ranger | March 16, 2009, 9:07 pm 9:07 pm
These funds were done when the Bush administraion was in. Obama had no control over this. Now he does and I think he is doing a good job. My question is when were these contracts signed? Were they signed before the bailout or after. If signed after, they should not be entitled to any bonuses. Even if they were I think these people should have a little more respect for the American people & not take there bonuses.
Posted by: diana | March 16, 2009, 9:10 pm 9:10 pm
I don’t know how Obama propose to clean up this mess. This IS a big mess! CROOKS! That’s what they are!! SELFISH CROOKS!
Posted by: liz | March 16, 2009, 9:12 pm 9:12 pm
So, if someone runs a business into the ground, they should bow deeply and apologize, but if someone runs the country into the ground they should move to Dallas and start a Freedom Foundation?????
Posted by: Sheila | March 16, 2009, 9:15 pm 9:15 pm
should move to Dallas and start a Freedom Foundation?????
****************************************
JKust goes to show you that a good education at SMU probably isn’t worth anything.
Posted by: Thinking | March 16, 2009, 9:19 pm 9:19 pm
Apology or suicide – do we get to take a vote?
Posted by: Mallory | March 16, 2009, 9:29 pm 9:29 pm
Do we really need such sophomoric rhetoric at such a time when there are people out there who are committing suicide–not to mention murder/suicide of their families–because of a bad economic or financial situation?
His comments are in the poorest taste possible and as a member of the Senate and in a public role, he should be more careful in what he chooses to say as words do have consequences.
Morons such as he make my skin crawl and I fear for the electorate if this is the bes we have to offer ourselves.
Posted by: Lauren Jones | March 16, 2009, 9:39 pm 9:39 pm
govenment should not care about it
Posted by: Victor | March 16, 2009, 9:43 pm 9:43 pm
Apology and suicide aren’t even the best options. We don’t want their apology, we want their testimony. These bonuses are blatantly obvious ‘shut up money’, which is why Cuomo is sending AIG subpoenas for the list of who is getting them.
Posted by: Flash Override | March 16, 2009, 9:49 pm 9:49 pm
Frankly, I find the whole thing rather amusing! AIG Execs are no different than any other greedy, slave to “attachment” of temporal goods history is replete with! Suicide, really, people suffering with “attachments to goods” wouldn’t consider leaving their possessions. No, No, way too far from their concepts of reality! Somewhere, in their “minds” they think they “earned” this money. No matter where it comes from.
Posted by: Andrea Foley | March 16, 2009, 9:51 pm 9:51 pm
His point is made, but a comment about “apology or suicide” is extremely tasteless. And what a slight to the Japanese! He should have chosen his words much more carefully.
Posted by: Brittany | March 16, 2009, 9:51 pm 9:51 pm
go hell, wealthy aig’s ceo
Posted by: joe | March 16, 2009, 9:52 pm 9:52 pm
Hmmmmm, why would the President not make a copy of his original birth certificate available? Is he hiding something? What could it be? Why would he send lawyers into court to block availability of this document? Do the American people have the right to view this so-called public record?
Posted by: Terry | March 16, 2009, 9:55 pm 9:55 pm
Insurance giant AIG is the poster child of corporate irresponsibility. It gambled on the housing market and lost, big time. That’s why the government had to dole out nearly $200 billion in bailouts just to keep the company afloat.
But word broke yesterday that despite being crowned the “Bailout King,” AIG is going to pay out more than $400 million in bonuses.
We’ve had enough. On Thursday, March 19, thousands of people nationwide will demonstrate outside major banks and demand real change. We want you to join us.
Watch this video about our actions and sign up to attend a demonstration near you:
Watch the video and join
TakeBackTheEconomy dot org
The outrage doesn’t stop at the bonuses. We finally found out how AIG has spent its bailout funds – it gave billions of dollars to other bailed out banks, including banks like Bank of America and Citigroup that are actively organizing against change for working families.
Just last week it was revealed that Citigroup organized a call to “build opposition to the Employee Free Choice Act.” Bank of America did the same thing just days after it received its first bailout from the government.
We have major banks and financial institutions taking government money with one hand, and slapping working people in the face with the other. The very same people who destroyed our economy are now actively working to prevent its recovery.
Enough. Join our demonstration against corporate excess on Thursday.
TakeBackTheEconomy dot org
Posted by: Flash Override | March 16, 2009, 10:02 pm 10:02 pm
Keep the focus on the bonuses,while the real creators of our bad economy sit grinning.(Franks and Dodd)
3/4 of AIG is extremely profitable!
1/4 of it is dragging it down.Why punish the people that made the 3/4 profitable???
Barny Franks and Chris Dodd are 2 of the hoors who fought to keep Fanny Mae pushing the sub prime loans.
Posted by: Christian conservative . | March 16, 2009, 10:04 pm 10:04 pm
Pro-life!
Posted by: elodieStClair | March 16, 2009, 10:06 pm 10:06 pm
Americans act like they are entitled whereas the Japanese feel shame when they fail. Many Americans have lost their strong work ethic and don’t take responsibility for their failures. A bonus is earned for doing a great job, not a guarantee. We’ve turned into a nation of whiners and crybabies.
Posted by: Grover | March 16, 2009, 10:06 pm 10:06 pm
AIG should not be given any more bailout money. The heads of AIG are thieves and have totally misappropriated monies given to them. They should be punished, not given more money. I want to see them punished to the full extent of the law. Were this an average citizen, they’d be in the “graybar hotel”
Posted by: jennifer mielziner | March 16, 2009, 10:06 pm 10:06 pm
Seems Americans, rather than Japanese, hold a strong sense toward responsibility sharing, which extremely contrasted with American’s independent confidence & tradition. “shameness” the term is very sensitive and delicate if under different cultural implications. Intellectual cautioue, great cautious would be more applauded when the doomed situation is given examined.
Posted by: Yabin Li | March 16, 2009, 10:07 pm 10:07 pm
For those that say that Mr. Obama was not yet the president when the bailout for AIG started, was he not in the Senate? Did he not vote for the bailout package? Was he not in a democrat controlled senate since 2006? Did he not vote for the budgets (and deficits)? Did he not insert many earmarks into the budget? Did he not accept campaign contributions from many lobbyists and special interests?
Posted by: Terry | March 16, 2009, 10:07 pm 10:07 pm
Lauren Jones – While you are probably right about careless statements, keep in mind that the people demanding they get their bonuses at AIG are the people that contributed to this economic crisis that made others commit suicide. Do we honor the dead by giving bonuses to these people.
Posted by: MikeMo1947 | March 16, 2009, 10:07 pm 10:07 pm
I think the Japanese have honor. Our top dogs…not so much.
Posted by: Huh | March 16, 2009, 10:08 pm 10:08 pm
I currently am just a student studying accounting. We just covered a section involving bonuses. The only way a bonus in the text is to be given out is with a profit. How can anyone justify dolling out these bonuses with our tax dollars. Im moving to another country.
Posted by: Ryan S. Paulson | March 16, 2009, 10:11 pm 10:11 pm
Well said, actually. If people had honor these days the world would be a better place
Posted by: Jason | March 16, 2009, 10:15 pm 10:15 pm
Christian conservative – If “3/4 of AIG is extremely profitable!”, why does the taxpayer own 80% of it now? While Barny Franks and Chris Dodd are part of the economic crisis, they had nothing to do with the high risk decisions that caused AIG to tank. There is plenty of blame in both parties and the top 10 financial institutions.
Posted by: MikeMo1947 | March 16, 2009, 10:17 pm 10:17 pm
These fat cats are all republicans.
All republicans are crimnals.
Posted by: M webb | March 16, 2009, 10:19 pm 10:19 pm
Were they signed before the bailout or after. If
signed after, they should not be entitled to any
bonuses. Even if they were I think these people
should have a little more respect for the American
people & not take there bonuses.
Posted by: diana
*********************************
Diana, I believe the contracts were signed prior to
the bailout, but after threatening Bush as well as
our country, that the US would go down the toilet
unless they received the first $85 Billion, I can
almost assure you, they were very comfortable
knowing that they were receiving both bailout and
bonuses. Not to divert the responsibilities of
Congress, but being slime Executives, I’m
wondering if their (revised) contracts were ever
shown to the congressional committee in the first
place.
Until they show us exactly where the money is
going, the government must charge them 28% in
taxes for ANY money they took, because it seems
to be used for income, and not the bailout.
Posted by: Spacerook1 | March 16, 2009, 10:20 pm 10:20 pm
Were they signed before the bailout or after. If
signed after, they should not be entitled to any
bonuses. Even if they were I think these people
should have a little more respect for the American
people & not take there bonuses.
Posted by: diana
*********************************
Diana, I believe the contracts were signed prior to
the bailout, but after threatening Bush as well as
our country, that the US would go down the toilet
unless they received the first $85 Billion, I can
almost assure you, they were very comfortable
knowing that they were receiving both bailout and
bonuses. Not to divert the responsibilities of
Congress, but being slime Executives, I’m
wondering if their (revised) contracts were ever
shown to the congressional committee in the first
place.
Until they show us exactly where the money is
going, the government must charge them 28% in
taxes for ANY money they took, because it seems
to be used for income, and not the bailout.
Posted by: Spacerook1 | March 16, 2009, 10:20 pm 10:20 pm
Posted by: Christian conservative .
**********************************
Sorry, Christian C. I doesn’t hold water
Posted by: spacerook1 | March 16, 2009, 10:24 pm 10:24 pm
Hmmmmm, why would the President not make a copy of his original birth certificate available? Is he hiding something? What could it be? Why would he send lawyers into court to block availability of this document? Do the American people have the right to view this so-called public record?
Posted by: Terry |
****************************************
Terry, are YOU hiding something, like being
anal retentive in this subject. It tabloid news
with no merit. Adapt a pet, or do something,
please get help.
Posted by: spacerook1 | March 16, 2009, 10:28 pm 10:28 pm
In my opinion, the goverment should have just let them fail. Since, the people in charge of the company finances
should, take the money out of their pockets and save their own company. Not the taxpayers, we didn’t cause this. I’m not worried about the economy, anymore, I’m, all ready living below the poverty line, so I,do not see how I can get any lower. But, I say again AIG “TAKE THE MONEY FROM YOUR FAT POCKETS TO REVISE YOUR COMPANY AND NOT FROM THE AMERICAN CITIZENS.” I, think everyone should pull all their finances from AIG. It’s the only way to send a fearful message to them.
Posted by: David | March 16, 2009, 10:32 pm 10:32 pm
Their resignation and suicide is acceptable. If not, I suggest that everyone that services these holes in any capacity from waitresses to auto mechanics refer to the movie ‘Fight Club’!
Posted by: Ford Fairlane | March 16, 2009, 10:36 pm 10:36 pm
There is no legitmate excuse for paying these incompetent clowns a bonus for destroying a large company and almost causing the collapse of the entire world financial system. I am one of the many who has lost my job and most of my life savings due to their total incompetence. I will gladly take one of their jobs without a bonus and with a five-figure salary and do a better job of turning things around than they are capable of doing. They should just be glad that they are not getting life in prison or the death penaly.
Posted by: Jack | March 16, 2009, 10:37 pm 10:37 pm
I strongly agree with Grassley that AIG and other disgraced executives should follow the Japanese model for handling disgrace – suicide or apology. But first, I think the formal apologies should start with Bush, Cheney, Rove and the other members of his Republican posse. They are just as disgraced as the failed CEOs but they still make their rounds on the news shows as if they were stars. They have no shame just like the fatcats they coddled!!
Posted by: hopesprings52 | March 16, 2009, 10:40 pm 10:40 pm
So should Frank and Dodd.
Posted by: drjohn | March 16, 2009, 10:42 pm 10:42 pm
M webb – Obviously, truth is not important to you. There are lots of fat cats supporting and doing favors for both parties. There are criminals in both parties. The problem is too many people concerned about their own power and wealth, and not enough that want to serve the needs of all honest hardworking people.
Posted by: MikeMo1947 | March 16, 2009, 10:44 pm 10:44 pm
Somebody que the line for congress.
Posted by: FedUp | March 16, 2009, 10:46 pm 10:46 pm
This is our governments fault. The money was handed out with no accountability. That’s the bottom line. This is a terribly ignorant statement by Grassley. Who cares if they apologize or commit suicide? How is that going to change anything? The problem occured when the money was handed out with no oversight. Any bonus contracts that were already in place should have been void as a condition of the bailout.
Posted by: Spread That Wealth | March 16, 2009, 10:52 pm 10:52 pm
If the taxpayers had not bailed them out, they would all be unemployed with a voided contract, no paycheck and no bonus. Anyone complaining about not getting their bonus should be fired. If we own 80% of the company, we can fire them and dismantle divisions not profitable or made decisions that created AIG failure.
Posted by: MikeMo1947 | March 16, 2009, 10:52 pm 10:52 pm
Hey, M webb:
Just for the record, most of these financial clowns are almost certainly Democrats and have donated accordingly. This is especially true of hedge fund managers who gave almost exclusively to the Dems. As long as we’re handing out bailouts to losers and crooks, we will continue to see this sort of looting. I especially like how bailout money has gone to foreign banks and Goldman-Sachs. Is there ANYBODY in DC that hasn’t taken money from or worked for these guys?
Posted by: DocinPA | March 16, 2009, 10:54 pm 10:54 pm
Oh my – I am so worried. I was so hoping he would live up to the hype. Boy, was I wrong…
Posted by: Jane | March 16, 2009, 10:57 pm 10:57 pm
The lawyers at AIG are just “considerably” smarter than Bush and Congress.
American Capitalism at Work!
Posted by: malibujimbo | March 16, 2009, 10:57 pm 10:57 pm
Spread That Wealth – Our country and the world cannot wait until the President and Congress comes up with a bill with no flaws. The current economic crisis started 18 months ago. Government should have been correcting the situation 12 months ago, instead of ignoring it until it was out of control.
Posted by: MikeMo1947 | March 16, 2009, 11:00 pm 11:00 pm
Just for the record, most of these financial clowns are almost certainly NOT Democrats. You live in a dream world mate.
Posted by: Osteopath | March 16, 2009, 11:03 pm 11:03 pm
Bailouts seem UnAmerican to me. One company fails another should be allowed to take it’s place. It should be survival of the fittest, not corporate welfare. Basically it seems like these corporations are holding our Gov hostage by claiming the economy will tank and many people will lose their jobs if we don’t give them money. Then on the other hand investors don’t see a well run company because they are receiving handouts and aren’t putting money into these companies. So bailouts seem like a lose/lose situation.
Posted by: Giggles | March 16, 2009, 11:04 pm 11:04 pm
Neither party has a monopoly on greed and ambition. But under Bush, the GOP took it to a whole new level. If you have an administration that’s letting industry CEOs write policy and has chucked regulation, you’re sending a giant green light to the fatcats. The CEOs are of the same mindset as Bush and Cheney and will never get it. Cheney’s only regret is that “they left Scooter hanging” not that he rushed to war in Iraq, not that New Orleans drowned, and not that the economy collapsed!
Posted by: hopesprings52 | March 16, 2009, 11:07 pm 11:07 pm
The government owns AIG. Contracts be damned. These execs violated their contracts by moral turpitude. The government can indict a ham sandwich! Send them all to Guantanamo or allow them to commit suicide, once they’ve made restitution plus damages.
Posted by: Steven Dalos | March 16, 2009, 11:09 pm 11:09 pm
I don’t think this should be a political issue. The executives should voluntarily decline their bonuses or be held in contempt by everyone.
Posted by: Skip | March 16, 2009, 11:12 pm 11:12 pm
Although I do believe drastic measures must be taken against these crooks, calling for them to commit suicide is very tasteless and inappropriate. Sen. Grassley probably should have chosen his words better. I do believe that if they don’t apologize and resign, the government ought to take away their assets and make them suffer for running this country into their ground on the backs of taxpayers. However, the basic point of Grassley is quite clear and I do agree with the basic point but suicide is taking it a little too far.
Posted by: Someone From Iowa | March 16, 2009, 11:12 pm 11:12 pm
Giggles – While it does not seem right or unAmerican to bail out these companies, you have to consider the Great Depression. One of the major problems was the banks failing because of panic of bank customers. If government had not stepped in when they did, it would have been far worse. Something has to be done to assure customers of these companies that they will not fail completely. The government may not be using the best job, I am not sure it would have been wise to let them declare bankrupcy to voided all promises to customers.
Posted by: MikeMo1947 | March 16, 2009, 11:12 pm 11:12 pm
President Obama, was not president yet when this all went down and guess who had final say in the whole bail-out situation, President Bush. It is true that Barack was a senator at the time, but he didn’t much of a say at the time, Bush and others that agreed with him did.
People are always looking for someone to blame or point the finger at. Would you say the same thing if the country was still being run by republicans?
I think people are pointing the finger at the wrong person, you should be blaming those at AIG.
One other thing I want to say is this, Barack may have been a senator and a president elect at the time when this all started, but he did not take his seat until Jan 20th. Before that day, Bush was still running the country.
Posted by: Get all facts and info straight | March 16, 2009, 11:14 pm 11:14 pm
Christian Conservative wrote:
3/4 of AIG is extremely profitable!
1/4 of it is dragging it down.Why punish the people that made the 3/4 profitable???
*******************************
I have a question for you:
- One reckless company is dragging down the entire global financial system.
- Millions of honest taxpayers are losing their jobs or working their butts off to make ends meet.
Why punish the taxpayers so those whining idiots at AIG can get bonuses, ON TOP of their big fat salaries?
Posted by: stringer | March 16, 2009, 11:15 pm 11:15 pm
Now THERE’S an approach I can get onboard with!
Posted by: jennifer | March 16, 2009, 11:15 pm 11:15 pm
The corrupt politicians dump money into these companies with no strings, no controls and no oversite.
What do they freakin expect?
Congress is, was and shall remain the problem until the citizens vote like they give a damn.
Posted by: Dan | March 16, 2009, 11:16 pm 11:16 pm
Just put their name and BID picture in every Post office in the country together with the ten most wanted – until they paid back the bucks.
Better yet , have the IRS go after them for the next 10 years
Posted by: Swiftlearner | March 16, 2009, 11:23 pm 11:23 pm
The bankruptcy laws would have settled this immediately, if AIG is too big to fail then is everyone else too small to succeed? New York and this bunch of corruption and stupidity appear to be from another planet, send them back there.
Posted by: chris451 | March 16, 2009, 11:36 pm 11:36 pm
The little donkey cant pull the cart up this steep of a hill. The little donkey will proceed to vote them all out.
Posted by: taxtodeath | March 16, 2009, 11:39 pm 11:39 pm
Wow, that’s not even a slightly impressive sleight of hand -
Congrats to the stupid sheep now focusing their anger on AIG. Demand a hearing from your elected officials – y’know, the ones you keep electing who keep screwing you over.
Also, keep investing your money in multinational banks rather than your local Credit Unions, etc. – oh and throw all of your money into mutual funds, trusting that a bunch of Ivy League morons actually have a clue as to how to best manage your portfolio.
Wow…
Posted by: New Cronkite | March 17, 2009, 12:36 am 12:36 am
I don’t need want a forced apology from a spineless imp of a human being. THe money is spent. Suicide isn’t fair to their already too confused children. I get my one vote and I’m counting the days till 2012.
Posted by: waiting | March 17, 2009, 12:47 am 12:47 am
WE are all at fault for this economy. We were living like we all had trust funds and that money was limitless. How many of you refinanced your homes and sucked all of the inflated value out of it so that you could keep living it up with no regard to the future? Yes, these bozos on Wallstreet and in Congress and the White House (I’m talking Bush/Cheney) have a lot to answer for…but, until WE all get our houses in order…we are all to blame.
Posted by: JeanYar | March 17, 2009, 12:55 am 12:55 am
… angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn’t show up at all.
The above is a snapshot of what happened at AIG today. Americans spoke out and the world listened.
Posted by: clarity | March 17, 2009, 1:03 am 1:03 am
Believe me, there is a lot to be upset in this economy, however, AIG has me more upset than I can remember being about this or any other issue in our economy. Can someone PLEASE explain to me how in the world a company such as this (that we the unwitting American Tax payers BAILED OUT) think that they have the audacity or the right to give out $165 MILLION DOLLARS in bonuses. We are talking about one particular division who lost most of the companie’s money. In what world could they possibly think they deserve to be compensated for it? The way I see it, if they have to legally receive these bonuses then give it to them, fire their sorry butts & black ball them from EVER working in that financial field or any other such field ever again!! And if the bonuses have been given out then let AIG look somewhere else for another handout! Because not only has this ship sailed, People who don’t pay for their tickets don’t get to ride for free!!
Posted by: Sharon R Johnson | March 17, 2009, 1:15 am 1:15 am
I can see that some of you AIG management have scrupples – that is you resigned today, thank you! – what the hell is wrong with the rest of you people – how about you Liddy? what are you still doing in the company? – idiot – do us all the favor and do the Japanese remorse thing, I’m sure you can afford a proper knife with your stolen bailout cash.
Posted by: californiagirl | March 17, 2009, 1:32 am 1:32 am
you have to be kidding the goverment is not stupid they knew that those banks had to stand by their contracts why donn’t they just arrest the ones who started the banks fall as i said the goverment is not stupid they knew that those banker were doing this and knew what they were doing wrong find the correct charge then charge them and convict them like they did martha steward with that insider trading stuff
Posted by: alfonzo knight | March 17, 2009, 1:42 am 1:42 am
We’re mad as hell and we’re not going to take it anymore….everybody go yell out of your window.
Posted by: californiagirl | March 17, 2009, 1:43 am 1:43 am
All the names of those receiving bonuses should be put on the front page of every newspaper. They should be willing to return those bonuses, considering the company got a bailout and if it had not happened they would have lost their job. Any person of AIG, employee or executive, who keeps the bonus should be shamed publicly. In the future, all company bonus contracts should be known before any bailout money is given.
Posted by: Angry Taxpayer | March 17, 2009, 2:01 am 2:01 am
hmm interesting…but I bet he is anti-abortion…so much for the value of human life, if you lose too much money, your not worth it.
Posted by: rado randriamahefa | March 17, 2009, 2:04 am 2:04 am
Gimme a break. Bush junior has not committed suicide yet.
Posted by: Sixpacker | March 17, 2009, 2:24 am 2:24 am
Chuck, I think it’s about time you and every member of congress off yourself. You’re all worthless pandering low-lives.
Posted by: Tedd | March 17, 2009, 2:50 am 2:50 am
if the us gov’t owns 70% of aig, why can’t obama fire all those big shooters from the ceo down to the very responsible executives who caused this meltdown. they all corrupt, irresponsible & no heart. americans are starving.
Posted by: concerned citizen | March 17, 2009, 3:01 am 3:01 am
No the Senator is wrong. The Politicians that gave AIG the money should be made to resign. This is 100% their fault.
Posted by: jeffrey1234 | March 17, 2009, 3:21 am 3:21 am
The most humorus comment was the one about publicly shaming the execs. Like they care as long as they get there millions at your expence. They are lauphing at all of us right now. They know they got away with it and no one will do anything about it. Sure your government is going to yell and scream and call it an outrage to you. But make no mistake they are behind AIG. They dont care about you they want you to hear them yell so you will re-elect them but they will do nothing to stop this outrage. The only ting that will fix this is revolution period. When the american people take back there country from the criminals that run it then mabye things will get better. But the sad truth is you are all to lazy and or scared to do anything about it. The american people are to blame here no one else. If you would stop and realize that in order to fix things you are going to have to get up off the sofa and fight and bleed and mabye die to bring this country out of the sorry state that its in then mabye we might have a chance. When we are all starving to death on the street then mabye we will consider weather or not it is worth it to fight and bleed and die to save ourselves from the corrupt government and rich company CEOs that enslave us. Try reading the constitution and the declaration of independence they will tell you that it is you right it is your duty to through off this corrupt government and provide new gaurds for your future prosparity
Posted by: Mike | March 17, 2009, 3:45 am 3:45 am
Obama tries to stop AIG bonuses: ‘How do they justify this outrage?’
=====
Oh, My, My, My.
He has no clue who he was dealing with with his House claimed confidence where the money went before sending the last 30 billion.
Now, he’s outraged. By what? His own boneheaded mistake, again?
How do THEY justify? They have a freeking contract.
How do YOU, PBO, justify to give them the money in the first place?
Posted by: crybaby 2 | March 17, 2009, 4:36 am 4:36 am
For Sen. Grassley to suggest that U.S. CEO’s mimic Japan’s preferred method of suicide for misdeeds and corruption is totally immoral and unconscienable and against everything Americans and our country stands for. This extremely harsh statement will surely result in severe backlash nationwide. His suggested drastic measures upon the corruptors and his “I wish you were all dead” attitude displays immaturity, lack of control and is an affront to our traditional beliefs and principles. It’s also un-American. Since when does this country wish to use the Japanese’s extreme behavior of “harakiri” as an example? Shame upon you, Sen. Grassley.
Posted by: poescrow | March 17, 2009, 5:13 am 5:13 am
I can really see how this bailout money is creating more work for lawyers.
Posted by: scrooged | March 17, 2009, 6:13 am 6:13 am
The Politicians that gave AIG the money should be made to resign. This is 100% their fault.
Posted by: jeffrey1234
================
This should include the president who just days before declared that AIG was spending the money responsibly.
Posted by: scrooged | March 17, 2009, 6:15 am 6:15 am
I was thinking.
Is this is what we have to look forward to when Obama gives trillions to doctors and medical insurance companies. So much waste and fraud. What does he care for. His Aunt is still here illegally and its not his money. But other peoples money.
Posted by: Thinking | March 17, 2009, 6:28 am 6:28 am
Amen brother! Totally agree with Grassley. I know people will rip him up over it but I couldn’t agree more. I am sick of the crooks on Wall St and the clowns in Washington who have been in bed with them. I think they’re all lucky they haven’t faced lynch mobs already.
Posted by: Dianna | March 17, 2009, 6:29 am 6:29 am
The time is getting ripe for a revolt on the white House and drag these criminal politicians and this baboon for a president out into the streets to have a public lynching and hanging.
Posted by: Top Girl | March 17, 2009, 6:31 am 6:31 am
First, for all you folks who think just letting AIG fail is a good idea, this would have consequences much, much worse than the failure of Lehman Bros. last fall. For those of you with short memories, that event nearly cratered the credit markets and the economy. If AIG were to go bankrupt the loss in GNP would far exceed whatever is being paid for the bailout. Second, not everyone at AIG, even at the executive level, is responsible for AIG’s mess. The vast majority had nothing to do with the derivatives that are causing this mess. While AIG is majority owned by the US government, it’s not legally bankrupt, therefore it cannot just go willy nilly abrogating employment contracts. If it tried it would undoubtedly lose in court, resulting in far greater payments in the long run. Unwinding the AIG mess needs to be done as expeditiously as possible. That can only be done with the assistance of the people who were working at AIG when all these deals were cut. What Obama and other government leads need to focus on at this point is how to craft regulations and oversight to prevent the financial markets from collapsing like this again.
Posted by: Hrvatska | March 17, 2009, 6:37 am 6:37 am
America is going to default on all loans soon.
Posted by: hey | March 17, 2009, 6:44 am 6:44 am
Just like Democrats sowed the seeds of the HOUSING MARKET MELTDOWN a few years ago.
Obama is now sowing the seeds of the America to go bankrupt with these multi trillion dollar loans.
Posted by: hey | March 17, 2009, 6:48 am 6:48 am
How much more money is Obama going to dump down that sinkhole called Hurricane Katrina, New Orleans to them welfare dogs that have no intention of working and never have worked.
Its not his money its our money.
Posted by: pest | March 17, 2009, 6:58 am 6:58 am
GOP Senator: Should of said Obama and Democrats need to Follow Japanese Model — Suicide or Apology
Posted by: test | March 17, 2009, 7:00 am 7:00 am
Taxpayers are the buffet table upon which Obama feasts. How many lavish parties did he throw so far.
Posted by: wow | March 17, 2009, 7:11 am 7:11 am
who gets this 165 million bonus . is it spread out to all mangers that work for AIG or only a top few. If it is most or all the managers that work for AIG. Then 165 million spread out to thousands is not much.
DOES ANYBODY HAVE AN ANSWER>
Posted by: radical | March 17, 2009, 7:18 am 7:18 am
AIG announced its bonus and retention plans a year ago and Obama’s lunatics knew about them so why the wide eyed surprise from this inept administration?
As for Grassley . . . he has gone absolutely bonkers.
Posted by: rplat | March 17, 2009, 7:31 am 7:31 am
FLASH. FLASH> FLASH.. FLASH—
Return the 165 million says Obama then we will mail you 30 BILLION> Sounds like a good trade. Do you really have to be a fool to believe in Obama now.
Posted by: raster | March 17, 2009, 7:54 am 7:54 am
2010 and 2012 years to correct the mistake
Posted by: oj | March 17, 2009, 7:58 am 7:58 am
Obama-messiah’s Plan to Charge Wounded Military Vets for Medical Treatment
Posted by: henry 5th aveneue | March 17, 2009, 8:07 am 8:07 am
While I sympathize with Sen Grassley’s sentiment, the big difference between the Japanese case and ours is that these execs in question have been able (allowed, you might say) to amass a huge fortune (which is not the case with the Japanese execs) with no restraints nor regulatory oversight. They now can enjoy the fruits of their “labor”. These guys are now laughing at all the “funny” and ineffectual gestures (criticism such as from Grassley and the public) the outside world (the shareholders and now everyone else) are making. Yes, Sen Grassley is right; but how to “execute” his idea? As one could say —- not in China could these execs get away with such blatant insult to the public. Only here.
Posted by: jbrownski | March 17, 2009, 8:21 am 8:21 am
All executives at banks and financial institutions are labeled as VP of this and VP of that, even when first hired. These clowns went to the same Ivy League schools and use the same Country Club. You want to know where they got their morals, look at their upbringing – privileged. This kind of attitude started long before Bush’s presidency. This is just more gamesmanship from the current adminstration. Next week this will be old news.
Posted by: Barney Fife | March 17, 2009, 8:26 am 8:26 am
Well… This might be a good way to handle AIG:
…….the initial verdict issued by the Jinan Intermediate People’s Court in Shandong Province, concerning the Company’s three major shareholders, Mr. Jun Yin, Mr. Tongju Zhou and Mr. Duo Wang. The verdict found the three major shareholders guilty of the crime of misappropriation of state-owned assets relating to tens of millions of RMBs’ worth of assets during the reorganization of Shandong Neoluck Plastics Co., Ltd. The court sentenced Mr. Yin to death, with a stay of execution for two years. The other two defendants, Mr. Zhou and Mr. Wang, each received life imprisonment. All of the personal property of the three individuals will be transferred to the Chinese government. None of these individuals is currently involved in the Company’s day-to-day operations.
The three individuals are currently appealing the initial verdict.
Posted by: FS | March 17, 2009, 8:28 am 8:28 am
I’m sure Grassley voted to give them the money in the first place which 76% of Americans were against. He’s just trying to save face and his job because he didn’t listen to the people in the first place. Had we let them fail in the first place we would be starting a recovery process now instead of still paying out billions. All of Congress that voted to give them the money should be the ones paying it back. AIG is useless and Congress is useless.
Posted by: Give me a break | March 17, 2009, 8:29 am 8:29 am
for once we have a president that cares about the people and all i here on this board is Obama this and Obama that,tell me where were your voice’S when MR BUSH was printing money to Fund “His” WAR,you kept your mouth shut and went along with the Plan for whatever Mr Bush wanted, now you want to beat this man in the ground for trying to clear up some of the mess that was made before he even start running for President, so if you have a better solution to the problems we face I am SURE he would welcome them. Have any of you complainer’s heared anything from your MR Bush since he left office? I didn’t think so, and also why didn’t you complain when Mr Bush was running this country in the ground…….not a peep out of you, so now you got all this to complain about with Mr Obama.Least we forget he STEP INTO THIS MESS.
Posted by: kevia1124 | March 17, 2009, 8:42 am 8:42 am
We do not need the government to be able to fix AIG. AIG is an insurance company. We the people are their customers. Like all customers we have a way to show a company how upset we are, and a way to drive them to change.
CANCEL
If people call to express their indignation and cancel then they will start to hear us. If enough people and organizations cancel, they will not be too big to fail anymore will they? I know canceling in reality may not be that easy because ther are paid out in advance. Play stupid. Call AIG and ask them when your policy is up because you intend to cancel when it is up. If you have a 401k with them, call to ask for information about transferring your funds out. Always let them know why. If your employer uses some of their services call or send a letter asking why they are still with them and if they plan to switch. Get others you work with to do the same. Heck, even if you know you are tied to something you can not get out of, call and ask what you can do and threaten to cancel anyway.
We the people just have to stop looking to others who have agendas of their own, and take action ourselves.
Posted by: FederalistBlogs | March 17, 2009, 9:03 am 9:03 am
When President Obama was “punching” the greedy big companies for robbing the American people, some of you said, “these companies were the producers in our society” and we, the little people wouldn’t have a job, and they deserved their paychecks. What do you think now???????????
Posted by: sngeorgia | March 17, 2009, 9:14 am 9:14 am
That was one of the funniest quotes I’ve heard from a Congressman in a long time. Sepuku would be a great idea.
Posted by: Aaron | March 17, 2009, 9:16 am 9:16 am
Grassley…..oh my god. You were one of the senators that has been ranting about “captalism”. What do you think now. Captalism seems to have ran it’s course. The American people voted to have an ‘even playing field’, not Socialism as you and your party been trying to label President Obama. Again, the rich get richer and the poor gets poorer.
Posted by: sngeorgia | March 17, 2009, 9:18 am 9:18 am
AIG INSURES CONGRESS..CHECK THE RECORDS. AIG, SEC, NYSE, SENATE, CONGRESS….STRANGE BEDFELLOWS AND LINING THE POCKETS OF EACH OTHER. SO…HOW DO I GET BACK THE MONEY I LOST. WE NEED TO CLEAR ALL THE “GOOD OLE BOYS/GIRLS” WHO ARE FULL OF SELF-INTEREST AND SEND THEM PACKING WITH NO SALARIES, BONUSES, PERKS, HEALTH COVERAGE, SPECIAL CONSIDERATIONS AND SEE HOW THEY DO. SELF-SERVING IS COSTING US BILLIONS AND THEY DON’T SEEM TO CARE. LET’S SEE HOW THEY’D DO IF WE WERE NOT PAYING FOR THEIR CRIMES. HEY…THEN WITH THE COST OF THEIR MEDICAL CARE WE COULD AFFORD TO GIVE LOW COST MEDICAL CARE TO CITIZENS THAT REALLY NEED/DESERVE IT. LET THE POLITICIANS PAY THEIR OWN WAY NOT KEEP GIVING PAY RAISES FOR NOTHING DONE, NOTHING EARNED, NOTHING DESERVED.
Posted by: Donna | March 17, 2009, 9:44 am 9:44 am
What is going on in Washington? Now the Republicans are saying stupid things just like the democrats. The 2010 elections will be here before we know it and I hope we the people throw out every stupid, selfish, greedy politician out of office. But we the people have to get smart first and and figure out what we really want from this great nation of ours, after all the nation is not the problem but the politicians and what we allow them to do without really representing us is.
May God not count us out but really show mercy on all of our stupidty and laziness.
Posted by: J from Texas | March 17, 2009, 10:00 am 10:00 am
The senator’s comment is overly harsh and inappropriate. To those of us who have lost loved ones, the suggestion that people deserve to die – no matter what they did – is offensive and saddening. How would the senator like it if he were told he should die?
Posted by: concerned_citizen | March 17, 2009, 10:02 am 10:02 am
I’m an Iowan who cannot remember–literally–senators other than Grassley or Harking. Both need to go, as Mr. Grassley sadly demonstrated by these outrageous remarks.
Posted by: cindy | March 17, 2009, 10:12 am 10:12 am
‘even playing field’, not Socialism”
Explain the differences.
“Again, the rich get richer and the poor gets poorer.”
Same tired old contribed marxist belief system. Poor don’t get “poorer”. There will always be people who make bad decisions or accept and complain about a life of poverty, there are those who rise up out of poverty, and there are those try hard but don’t succeed, and for those I truely feel for them. Some of the hardest working people I know are around the poverty line. They are carpenters, tile and floor workers, but that is the life they have. A friend of mine from high school did roofing work. After a couple of years, he realized he didn’t want to do that the rest of his life. He took out a loan, went to night school, finished his degree a little longer than usual, about 6 years, he’s now a financial advisor at a state bank making triple figures. He made his life, it wasn’t given to him, there wasn’t an even playing field, he had to overcome adversity.
So take your tired old claim that some invisible force is keeping people down, what’s keeping them where they are at is them.
Posted by: KR | March 17, 2009, 10:16 am 10:16 am
“And I’m not talking about going out and committing suicide…”
Read it people. A poor choice of an example, but he is not saying these people should die. Regardless of his party, he didn’t say people should die. Read the whole page.
Posted by: KR | March 17, 2009, 10:20 am 10:20 am
Stupid is soooooooo bipartisan.
Posted by: mad | March 17, 2009, 10:35 am 10:35 am
How gutless Grassley turned out to be! Of course he meant “suicide” literally. It is only after the fact, thinking about how this statement might play with his political future, that his office staffers have had to go into emergency damage control spin. How gutless! BTW, I agree with Grassley’s original intent.
Posted by: az | March 17, 2009, 10:35 am 10:35 am
Classis misdirection from the criminals in Congress. The idiots should have thought about bonus rules BEFORE they handed out the money. And the politicians are no less dirty. Sorry idiots in Washington, the majority of America is smarter than you and we won’t fall for your insulting tricks.
Posted by: sigh | March 17, 2009, 10:36 am 10:36 am
Grassley didn’t really mean it–just like BO wasn’t really outraged over the AIG bonuses.
Obama has to do something popular to stop his tanking in the polls.
I think the word is out—Obama is a fraud.
Posted by: sammy | March 17, 2009, 10:43 am 10:43 am
Send them to China for proper judicial processing.
Posted by: No Suicide | March 17, 2009, 11:24 am 11:24 am
The Wall Street financiers and bankers commmitted sabotage and economic treason against the United States.
Posted by: Wall Street Is Treason | March 17, 2009, 11:29 am 11:29 am
sngeorgia; What I think now is Wall Street is making a statement that business in America is more influential than government. The government relies on business prosperity for tax income and for private sector jobs. Without businesses the government has no operating funds. Without business there is no economy. It’s not nice to bite the hand that feeds you. That’s the message Wall Street is sending to Washington concerning salary caps, bonuses and lending. Obama’s redistribution of wealth has enraged a mighty giant whose co-operation is critical.
Posted by: mmonroeliveson | March 17, 2009, 11:45 am 11:45 am
The real sad part here is that the Senator doesn’t really get it. Congress’s approval rating is the lowest in history. The law makers are bankrupting our country. He, and all the members of congress, should take some of his own advise and resign. But somehow just like the CEOs, congress takes no responsibility for their failures.
Posted by: oxbobend | March 17, 2009, 12:00 pm 12:00 pm
“While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.”
—————————————
At least Grassley didn’t vote for AIG bonuses.
Ant lawmaker who voted for the stimulus bill did vote for the AIG bonuses.
And the president signed the bill.
Posted by: mad | March 17, 2009, 12:09 pm 12:09 pm
Such talk makes great radio. Drama and shock. Great for ratings. It sells to the emotional listener and garners political advantage. But the radio show was not a call-in, so there was no chance for challenge.
Posted by: Waysie | March 17, 2009, 12:38 pm 12:38 pm
No problem as long the bonuses came directly from their EFFORTS & profit. But the thing is, it’s TAXPAYERS billed out money and those taxpayers millions of them right now are suffering from OUT OF JOB – actually Sen. Grassley statement was PERFECT for those NUMBED aig’s executives….
Posted by: N-fcient aig | March 17, 2009, 12:55 pm 12:55 pm
Such talk gets the huckleberries all excited.
Posted by: silky | March 17, 2009, 12:57 pm 12:57 pm
The GOP really don’t have a plan. Is this all they got?
Posted by: Sam | March 17, 2009, 1:02 pm 1:02 pm
Happy St. Practice Day everybody. Remember to start laying down you base to booze in early. A liberal (ha!) dose of Shepard’s Pie is a good place to start, with lots of bread. Also, remember to go home early so that the professionals can have their bars back at a decent hour.
Posted by: silky | March 17, 2009, 1:16 pm 1:16 pm
Sen. Chuck Grassley should take a pill from his own prescription. Make that 2 pills, just in case…
Who voted for that imbecile?
Posted by: SkippyIN | March 17, 2009, 1:35 pm 1:35 pm
“”And I’m not talking about going out and committing suicide…”
Read it people. A poor choice of an example, but he is not saying these people should die. Regardless of his party, he didn’t say people should die. Read the whole page.
Posted by: KR | Mar 17, 2009 10:20:56 AM”
kr – i did read the whole page.
the comment you quote was said in Oct 2008.
now, on Mar 16, 2009, he has a different pointof view, and thinks that some New Yorkers shouldn’t be around anymore, either as businessmen, or as people.
Posted by: ts | March 17, 2009, 1:37 pm 1:37 pm
Grassley has to apologize, or resign, immediateley!
Posted by: ts | March 17, 2009, 1:39 pm 1:39 pm
Yeah, TS, everyone should read what he said:
“I suggest, you know, obviously, maybe they ought to be removed,” Grassley said. “But I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, I’m sorry, and then either do one of two things: resign or go commit suicide.”
“And in the case of the Japanese, they usually commit suicide before they make any apology.”
Now I’m not suggesting that Grassley kill himself either…
How about a firing squad instead, for TREASON.
Posted by: SkippyIN | March 17, 2009, 1:42 pm 1:42 pm
“Grassley has to apologize, or resign, immediateley!”
I think you mean he should apologize, then resign or commit suicide.
Posted by: silky | March 17, 2009, 1:44 pm 1:44 pm
NO!
He was wrong, and 2 wrongs don’t make a right.
If he won’t outright apologize, then he should resign, or be forced to resign.
Posted by: ts | March 17, 2009, 2:02 pm 2:02 pm
“If he won’t outright apologize, then he should resign, or be forced to resign.”
Please. I despise most of the Republicans on the hill and even I think that’s ridiculous. If we booted every congressman for being an #######, there’d be nobody left.
Posted by: silky | March 17, 2009, 2:12 pm 2:12 pm
The suicide route in Japan is considered the honorable thing to do. These AIG goons don’t HAVE any honor, so it will never happen…..
Posted by: SearamblerOne | March 17, 2009, 2:23 pm 2:23 pm
Grassley should be ashamed of himself. His words are inflammatory and irresponsible. Regardless of whether funds were misused, to suggest suicide even in jest is unacceptable when coming from someone in a position of leadership. This is especially true during this time of severe financial stress, when many feel responsible for making bad decisions. Suicide should never be presented as an acceptable response. Grassley should resign.
Posted by: Bob | March 17, 2009, 2:37 pm 2:37 pm
Jane –”It is ridiculous and no other industry/company works this way.”– All most all of them work this way.. In fact, most major corps don’t hire upper tier exec on a straight salary, the salary is supplemented by bonuses. Some tied to profits, some to departmental performance, some to nothing more than seniority ( the long you stay and work for me, the more you make)… Its like signing bonuses for sports figures and commission packages for saleman… Bottom line is that these bonuses were contractually promised before the money was handed out and the money was handed out without any stipulations or restrictions on how it was spent…
Face it, this is just another tactic by the libs to develop someone who is an easy mark for the populus to hate… A convenient way to “Create” a common enemy. These bonuses are a verrrry small slice of the bailout.. why is this such a big issue. because the administration wants it to be.. why didn’t they think of that when they were handing the money out unconditionally..I am much MORE concerned with the rhetoric thats going on in Washington right now.. demanding the names of the execs who got the pay? threatening to tax it at 100% if they don’t turn it over voluntarily? When did the US become a dictatorship??
Posted by: arkie vet | March 17, 2009, 2:50 pm 2:50 pm
windrider–”As we now learn, after the fact, AIG just didn’t have enough money to pay all these bonuses.”– you make it sound like these bonuses were a huge part of the bailout.. they weren’t.
Posted by: arkie vet | March 17, 2009, 2:52 pm 2:52 pm
BOB –”to suggest suicide even in jest is unacceptable when coming from someone in a position of leadership. This is especially true during this time of severe financial stress,”— But to suggest that the war is lost while our sons and daughters are still on the ground fighting as Harry reid did is perfectly OKay.. Once again,only republicans can be guilty of poor conduct..
Posted by: arkie vet | March 17, 2009, 2:56 pm 2:56 pm
silky–”Please. I despise most of the Republicans on the hill and even I think that’s ridiculous”– SILKY !!!
There’s hope for you yet…
Posted by: arkie vet | March 17, 2009, 2:57 pm 2:57 pm
katthe real one–”But of course, Grassley, as a GOP spokesperson, wouldn’t bring up the deregulation issues that caused it.”– I agree with you and so do alot of other republicans.. we think the deregulation issues should be shouted from the roof tops so everyone will know the truth.. that the deregulation “mess” was created by, nurtured by, propogated by, and defended by DEMOCRATS…
Posted by: arkie vet | March 17, 2009, 3:09 pm 3:09 pm
kevia1124-”Have any of you complainer’s heared anything from your MR Bush since he left office? I didn’t think so, and also why didn’t you complain when Mr Bush was running this country in the ground…….not a peep out of you, so now you got all this to complain about with Mr Obama.Least we forget he STEP INTO THIS MESS.”– WOW.. Umm i am pretty sure that ANY president whose term is over is no longer involved in running the country… and exactly how did he run it into the ground… 6 years of low unemployment ..even after 9/11. Not exactly what i call running it into the ground… and yes Obama did step into this mess.. but it was caused by people in his own party, not the president…
Posted by: arkie vet | March 17, 2009, 3:18 pm 3:18 pm
Never thought I’d agree with Mr. Grassley on anything, but I like his point of view on this issue. Time to be honorable (for once)and fall on your swords, losers…
Posted by: DaveM | March 17, 2009, 3:25 pm 3:25 pm
Arkie — I disapprove of what Grassley said, not of his party affiliation. My opinion of his comments would be the same whether he was R, D, I, G or any other party affiliation. All those with the power to reach millions of people must actually think about the impact of their words.
BTW, I dont agree with the comment you reference by Reid either, but that is (was) not the topic of this particular blog post.
Posted by: Bob | March 17, 2009, 3:27 pm 3:27 pm
Bob — perhaps i jumped on you too quickly, but lookig down the posts i see several people who seem appalled in totality by these comments.. and I find it funny that conservatives have been watching far worse said of Bush and far worse said by democrats for years with their statements going completly unchallenged..
Posted by: arkie vet | March 17, 2009, 4:16 pm 4:16 pm
He has a point. These people nearly took down the US financial system through their greed and short-sightedness. At a minimum we should claw-back their bonuses, but I’d prefer to see them indicted for treason (and not just AIG either). I don’t buy for one minute that this was just a big surprise to everyone. They knew the risks and took them anyway. If a company cannot honor it’s contracts with it’s clients, execs should have no reasonable expectation of bonuses, taxpayer funded or otherwise.
Posted by: alphadominance | March 17, 2009, 5:30 pm 5:30 pm
Bob, absolutely no one should be agreeing with Sen. Grassley on this.
Everyone should be calling for his immediate RESIGNATION.
I asked before, but no one answered: Who voted for this guy anyway??
What we have is an elected official (‘of the people, by the people, for the people’) attacking private individuals whom names I’m sure he knows, to such an extent as to CALL FOR THEIR DEATH.
That’s the problem, Bob, that EVERYONE should be acutely aware of.
Following the sentator’s logic, will he, or some other law-maker next suggest we ought have a law requiring the DEATH of persons they deem to have mis-spent their PRIVATE monies in ways GOVERNMENT doesn’t APPROVE OF?
It’s a SMOKE SCREEN for the real ATROCITIES in our government. Remember that King B.O. himself said not to worry about the $8 BILLION in EARMARKS… he said they’re a drop in the $800 BILLION bill. And yet a corporation honoring their contracts for a measly $135 million is somehow a CAPITAL OFFENSE?
You know, the goverment has given you money back on your taxes Bob…. Maybe it’s time we all examine YOUR checkbook. How have YOU been spending your (really the GOVERNMENT’S) money. Leave it to a slimy politician to find a crime in there somewhere. . .
The real question we should all be asking is:
IS AIG HIRING?
Posted by: SkippyIN | March 17, 2009, 5:39 pm 5:39 pm
Treason — Are you kidding?
I think these people were irresponsible too. But who made them that way? The investors! Investment stratagies became short term because every idiot with a computer could make his own trades. Intellegent investing based on the long term potential of a company has been forgotten. Every time a company has a bad quarter, the stock drops, and management heads roll (courtesy of boards and shareholders). This forced them to think very short term, including making very risky deals just to prop up the bottom line on a quarter by quarter basis. And it worked for a long time and the shareholders were fat and happy. Sure, the desire for big bonuses played a large role, but so did the desire to keep their jobs. You can see this a bit more clearly when you look at non-financial companies where the bonuses are not so ridiculous. They too suffer from the short-sighted shareholder problem. We all share the blame for this mess! By the way, I am not an executive and dont get paid with bonuses, just someone who knows how to see both sides of the issue.
Posted by: bob | March 17, 2009, 5:49 pm 5:49 pm
“what we need in Washington are good ideas”…BHO
That’s what you were elected for, you *******
Posted by: tom beebe | March 17, 2009, 5:51 pm 5:51 pm
No Bob, we do NOT all share the blame for this mess. Don’t so easliy lump us all into this responsibility.
AIG was operating within the law, otherwise there would have been congressional investations till the cows came home.
Obama and the unDemocrats decided AIG was too big to fail, and took it upon themselves to offer cash to a struggling insurange giant.
The mess became THEIRS when they assumed RESPONSIBILITY. They have spent our money (did they ask permission??) in ways we haven’t dreamed, and thanks to the G-Gang, we’ll likely never see it again.
Posted by: SkippyIN | March 17, 2009, 5:56 pm 5:56 pm
Please give Obama a break.
Ask yourself this, if Lehman Brothers aren’t allow to fail or Bear Stern got the bailout. I can assure you AIG will not be in current situation.
A lot of current banks failed or in dire situation because they are like dominoes insuring each other. That is why AIG pay the foreign banks.
A lot of you, Republican supporters believes those banks should fail. But most company (probably the one you work in) needs those bank to do business. Everytime they pay your salary, part of those money actually comes from bank. Company’s creditors do hold up your actual $$ for at least 30days. And in most places, it can go as high as 1 year.
For Obama, he needs to make sure banking system are working properly. Thus, the bailout is inevitable.
If you don’t agree with me (Republican supporters?), ask yourself this 2 questions:
1. Under which administration you voted that grounded USA economies?
2. Back in November, of the only 2 choices, who would have done better today: McCain (& Palin) or Obama (& Biden)?
No wonder, almost 3 billion non-USA people always joke Americans aren’t that bright when it comes to leader selections.
Posted by: Johndoe | March 18, 2009, 2:34 am 2:34 am
There is one thing that has screwed this up and thats these turkeys (CEOs) dont own their company so of course they take absurd risks. We need to legislate into the western world that if you take a position on a public company then you have to really own it, so if you take on a board position, non-exec or exec then you take a stake and a big stake based on your position of course – for example, if you are offered a salary of $5m, $2m is cash $3m is stock, you can never sell while in office and must hold 2-3 years after leaving, you’ll still take risk but not the completed screwed up decisions that these morons made (I say morons, but really they are probably the smart ones, the only ones on the planet walking around with a @#@# loads of cash) – America spread the word, tell congress, tell Obama – You want to rule then own it first!!!
Posted by: If you own it you will love it | March 18, 2009, 9:21 am 9:21 am
Hmm… A republican that doesn’t make me want to vomit with rage. Will wonders never cease? Ah, he must be one of those old skool ones that don’t like pork barrel projects and want small government.
Posted by: Anonimause | March 18, 2009, 10:10 am 10:10 am
Maybe the coments weren’t p.c. but maybe the time for being such is over. Let them commit to something they may actually be able to make the public happy about. Clean house, get them out and start over. Tax 100%? Won’t work. Too many loopholes. Maybe we could put a judgement on their wives jewlery. I’m really angry about all of this! I’m not republican but I think I could vote for this guy whose time may have come.
Posted by: s. leach | March 18, 2009, 1:49 pm 1:49 pm
Check Grassley has spoken his mind — he may be a bit rough, but he has spoken the minds of many people who are upset.
Posted by: Angry | March 19, 2009, 1:56 am 1:56 am
Suicide is Painless!
Posted by: Ross | March 19, 2009, 2:02 am 2:02 am
Exec salaries are out of control but I dont think they are at GE, suggest reading the annual reports and proxy’s for the 30 stocks that make up the Dow and when you compare, look at # of employee’s, revenues, assets etc. There is a solution though, we simply legislate that an execs package is made up of 60-70% equity in the business and the rest is cash, so if you are on a salary of $1m, $300k is cash $700k is stock, if you do well and get say a $1m bonus, $700k is stock the rest cash, you can never sell why you are in your position and when you leave you cant sell for 2-3 years. We have a company here in Oz that the top dog paid himself $16.5m in 2008, 80% cash, this is a company that has 37k employee’s, has $6.6b in assets, Revenues of $10b, profit of $600k – he holds, wait for it, a measly 126k shares (about $2m worth of equity) in the company and as we speak is selling them, if we have a model where he has to purchase 70% stock as part of his remuneration then in the last 2 years, he was paid $30m, he would have $21m in stock, now thats something worth fighting for, but given that its all cash in the bank, hey who gives a rats, I’ve got my money now, so my reputation is tarnished for a little while, big deal, people forget!!! Now look at GE, Jeff Immelt runs a company that has 300k employee’s, Revenues of $182b, profit of $18b, Assets of $797b – he paid himself $3.3m in cash and $6m in shares (not worth that now though) – he also holds 6million shares in GE, so he has really felt the pain of this collapse – So when you’re picking stocks, use your usual financial methods, but if your going to trust a company with your hard earned look at the above numbers and see if management really has an interest in their company.
Posted by: Raymond | March 20, 2009, 6:55 pm 6:55 pm
It may be nothing you can fix, Mr. Jake Tapper, but after finding this article on a Google search and glancing over it, I associated your face with the statements for several days before searching for the article again and re-reading it. It’s my fault for not reading absolutely every paragraph on the site, but for future reference, readers who are not familiar with you or your work may experience similar problems! Just for your reference.
Posted by: Mark | March 21, 2009, 10:09 pm 10:09 pm
The thing here if it wasn’t for the government using our money to bail these idiots out they wouldn’t have a job to begin with, now they are claiming they deserve a bonus for being incompetent. I guess we should have just let the GREEDY BASTARDS go down with the ship we would have been better off. It is totally unfair that there are people all over this country just trying to survive, loosing their jobs, homes and life savings and these asshol*es take this money that in my thoughts have stolen from the taxpayers of this country. If Obama lets this happen his popularity will diminish pretty fast and the American people will loose more faith in this country that is already faced with investors running scared. Wake Up People!
Posted by: Keesha | March 23, 2009, 8:54 am 8:54 am