Comments on: Liddy’s Terrible, Horrible, No Good, Very Bad Day http://www.taxgirl.com/liddys-terrible-horrible-no-good-very-bad-day/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Kelly http://www.taxgirl.com/liddys-terrible-horrible-no-good-very-bad-day/comment-page-1/#comment-9704 Kelly Thu, 19 Mar 2009 13:34:47 +0000 http://www.taxgirl.com/?p=2968#comment-9704 Really well said. The problem is that there seems to be no balance. One second, AIG is the devil himself, the next, we are suffering from what BBC America News referred to as "bailout fatigue" - that we're all too tired of hearing about it to care anymore. I think outrage is appropriate - and I think AIG is getting it because they've become the poster child for what's gone wrong on Wall Street. But I agree with you that we should be most concerned about the bigger picture. Really well said. The problem is that there seems to be no balance. One second, AIG is the devil himself, the next, we are suffering from what BBC America News referred to as “bailout fatigue” – that we’re all too tired of hearing about it to care anymore.
I think outrage is appropriate – and I think AIG is getting it because they’ve become the poster child for what’s gone wrong on Wall Street. But I agree with you that we should be most concerned about the bigger picture.

]]> By: garagefather http://www.taxgirl.com/liddys-terrible-horrible-no-good-very-bad-day/comment-page-1/#comment-9703 garagefather Thu, 19 Mar 2009 13:25:27 +0000 http://www.taxgirl.com/?p=2968#comment-9703 Those people at AIG have really created a firestorm of controversy. They take bail out money and waste it on luxury items and bonuses. This latest round cost a whopping 165 million. Ah, what I could do with that much money. It has gotten to the point that the people that received the money, if revealed, should fear for their lives. There are a lot of angry citizens that could try and take matters into their own hands, especially if they feel they lost their jobs due to companies like AIG. Now if we could just get a little perspective on this matter, we could actually make real and lasting change in this country. 165 million dollars is a pimple on a knats rear end compared to the daily waste and abuse of our governments. Congress wastes more money in a week than AIG wastes in a lifetime. People like Barney Frank, Maxine waters, Chris Dodd, et al, love to confiscate our money and throw it away on frivolous spending. They, and many others on both sides of the isle, were behind the housing boom and bust. They had an opportunity to stop this madness before it got out of control. They have continually appropriated and wasted billions yearly and they are now sitting in judgment of the monsters they ( the entire government) created. I commend the outrage by citizens when massive waste and fraud takes place and I stand with to them. What I don't understand is why citizens don't put it all together and realize that this kind of waste and fraud is a daily occurrence in Washington. If the governments of this country lost a combined 165 million dollars a day, they would have lost just over 60 billion total for a year. I guarantee that our governments lose through waste, fraud, and abuse, far more than this yearly. When the feds spend 3.5 trillion over the next years budget, losing 60 billion will be nothing. It is time that we directed our outrage at the real culprits of all this waste. Those people at AIG have really created a firestorm of controversy. They take bail out money and waste it on luxury items and bonuses. This latest round cost a whopping 165 million. Ah, what I could do with that much money.
It has gotten to the point that the people that received the money, if revealed, should fear for their lives. There are a lot of angry citizens that could try and take matters into their own hands, especially if they feel they lost their jobs due to companies like AIG.
Now if we could just get a little perspective on this matter, we could actually make real and lasting change in this country. 165 million dollars is a pimple on a knats rear end compared to the daily waste and abuse of our governments. Congress wastes more money in a week than AIG wastes in a lifetime. People like Barney Frank, Maxine waters, Chris Dodd, et al, love to confiscate our money and throw it away on frivolous spending. They, and many others on both sides of the isle, were behind the housing boom and bust. They had an opportunity to stop this madness before it got out of control. They have continually appropriated and wasted billions yearly and they are now sitting in judgment of the monsters they ( the entire government) created.
I commend the outrage by citizens when massive waste and fraud takes place and I stand with to them. What I don’t understand is why citizens don’t put it all together and realize that this kind of waste and fraud is a daily occurrence in Washington. If the governments of this country lost a combined 165 million dollars a day, they would have lost just over 60 billion total for a year. I guarantee that our governments lose through waste, fraud, and abuse, far more than this yearly. When the feds spend 3.5 trillion over the next years budget, losing 60 billion will be nothing.
It is time that we directed our outrage at the real culprits of all this waste.

]]> By: suz http://www.taxgirl.com/liddys-terrible-horrible-no-good-very-bad-day/comment-page-1/#comment-9690 suz Wed, 18 Mar 2009 19:43:33 +0000 http://www.taxgirl.com/?p=2968#comment-9690 I find it appaling that ANYONE at AIG is getting a bonus. With my current employer I'm 'eligible' to receive an annual bonus, but that's all predicated on the company meeting it's financial and quality targets. And guess what...even though we actually MADE money last year (not like AIG) since we didn't meet our target...no bonus for anyone. How novel of a concept...linking bonuses to the finances of the company. You would think financial and insurance institutions would get that. I find it appaling that ANYONE at AIG is getting a bonus. With my current employer I’m ‘eligible’ to receive an annual bonus, but that’s all predicated on the company meeting it’s financial and quality targets. And guess what…even though we actually MADE money last year (not like AIG) since we didn’t meet our target…no bonus for anyone. How novel of a concept…linking bonuses to the finances of the company. You would think financial and insurance institutions would get that.

]]> By: Urbie http://www.taxgirl.com/liddys-terrible-horrible-no-good-very-bad-day/comment-page-1/#comment-9683 Urbie Wed, 18 Mar 2009 14:30:42 +0000 http://www.taxgirl.com/?p=2968#comment-9683 A million bucks is a good deal. I'd be happy to take it -- for losing less money than those jokers at AIG did! And now they're trying to hide behind "privacy" concerns, to try and prevent disclosure of who's getting the money? Give me a break. With "talent" like theirs, who needs incompetence? Urb A million bucks is a good deal. I’d be happy to take it — for losing less money than those jokers at AIG did! And now they’re trying to hide behind “privacy” concerns, to try and prevent disclosure of who’s getting the money? Give me a break.

With “talent” like theirs, who needs incompetence?

Urb

]]> By: TaxRascal http://www.taxgirl.com/liddys-terrible-horrible-no-good-very-bad-day/comment-page-1/#comment-9681 TaxRascal Wed, 18 Mar 2009 13:56:48 +0000 http://www.taxgirl.com/?p=2968#comment-9681 It seems like the <a href="http://www.taxrascal.com/why-barney-franks-phony-aig-outrage-is-worse-than-the-bonuses/360/" rel="nofollow">outrage at AIG</a> is overstated. Since we don't know who got the bonuses, or for what, it's really hard to know whether or not we're getting a good deal. Keep in mind that although AIG lost money on credit derivatives in the aggregate, people do make money on them, too -- John Paulson took home the largest annual compensation in history because of his derivatives trading. So there's a very good chance that many people at AIG Financial Products are doing profitable stuff like arbitrage, or making a market in credit derivatives -- stuff they could be doing for someone who isn't owned by the government, too. But thanks to the bad PR they're getting, AIG's best traders are probably going to leave. They'll go from working for a company 80%+ owned by taxpayers to a private entity, and the private sector will keep much more of what they make. Oh well. It seems like the outrage at AIG is overstated. Since we don’t know who got the bonuses, or for what, it’s really hard to know whether or not we’re getting a good deal. Keep in mind that although AIG lost money on credit derivatives in the aggregate, people do make money on them, too — John Paulson took home the largest annual compensation in history because of his derivatives trading. So there’s a very good chance that many people at AIG Financial Products are doing profitable stuff like arbitrage, or making a market in credit derivatives — stuff they could be doing for someone who isn’t owned by the government, too.

But thanks to the bad PR they’re getting, AIG’s best traders are probably going to leave. They’ll go from working for a company 80%+ owned by taxpayers to a private entity, and the private sector will keep much more of what they make. Oh well.

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