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AIG execs should get jail time, not bonuses

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Posted: Tuesday, March 24, 2009 10:00 pm

Here is a simple answer to the bonus mess at AIG.

Let them pay the bonus to the employees involved, then charge each employee with fraud. When they are convicted, take the bonus as money from a criminal enterprise.

My feeling is that instead of a bonus, these folks should get jail time. How can they be rewarded for such a huge screw-up? In response to your anti-spam test, some people in Lodi don't think I am human.

Reuven Epstein

Galt

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Welcome to the discussion.

4 comments:

  • posted at 2:30 pm on Wed, Mar 25, 2009.

    Posts:

    Sorry, they should not be jailed! They should be hung! Malfeasance? Screw that! Drop them dead so it never happens again. An overly aggresive approach is THE ONLY WAY our country is gonna survive the next few years. We have too much BAD stuff floating downstream right now!

     
  • posted at 5:23 am on Wed, Mar 25, 2009.

    Posts:

    Do any other financial institutions photocopy promissory notes onto their company's stationary-letterhead, and sell the photocopies as securities?When they do this, how do they escape the stringent SEC regulations? ANSWER: The strict SEC regulations apply only to the original promissory note, not to the photocopies.Do they do it on the average 30 times each mortgage promissory note? YES.Do the note holders know that they are holding fraudulent notes? YES.Are they redeeming the fraudulent notes anyway? YES. They are printed on bank stationary, so the bank has to pay.Do these financial institutions have the funds? NO.Who has the money? The banker, ALWAYS.Where are these bankers? GONE.Do these photocopy experts get any prosecution. No.Should DOJ prosecute anyone that defrauds the American people for a lesser crime?...uhhhh

     
  • posted at 5:16 am on Wed, Mar 25, 2009.

    Posts:

    Who gave them the bonuses?

     
  • posted at 2:12 am on Wed, Mar 25, 2009.

    Posts:

    Mr. Epstein - fraud? In what way have these people committed such a crime? There has been no evidence of malfeasance on the part of those who received these bonuses. Are some (or many) guilty of incompetence? Perhaps, but the real fraud wasn't perpetrated by the employees of these companies. No, the crimes have been (and still are being) committed by a select group elected to serve the People in the United States Congress. These are the folks who should be indicted, tried and convicted; or at the very least removed from office. And let's not forget that our young president was once a member of the Senate, even though he served for a short time and produced very little; much like he's doing right now.

     

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