These guys, CEO's, where willing to long term sacrifice the company for personal gain. They knew if would not last forever so they pushed the envelope. In the process paying off politicians who did away with all regulation so they could all cash in. The taxpayer is paying the price

Rick
If AIG does not do there jobs and not making money they should close there company or bankrupt or fire all there CEO ,CFO,directors and all employees.
If Mr. President do his job every body tells him to stepdown or our politician tried to inpeached him! Correct. So what a big deal about AIG.

Rick, why not use the Patriot Act against these guys at A.I.G.? We are a nation at war and the case could be made that their actions constitute economic terrorism, or aid and comfort to our enemies.

No, greed is only part of the problem. A lack of ethics, morality, integrity, professional standards, and a sense of right and wrong contribute to the equation. Corruption also played no small part. The best and the brightest on Wall Street meant those who could come up with more creative ways of making money, irrespective of who got hurt, as long as it wasn't the bank for whom you were working, and even then there was an understanding the federal government would provide a safety net through bailouts on the theory of "too big to fail". Harvard, Yale, Princeton, etc should teach and entrench ethics into their MBAs Instead, their graduates aspire to the phrase from "Jerry McGuire" – "Show me the Money". Do I hear "I threw my mother under the bus because I could make money doing it'?

Greed is definitely the answer. However, we can't forget that we got her courtesy of George W and the GOP. They took the time to set this in motion and deregulate to help their rich friends. Bush and the GOP put us in this hole because of their greed and that of their rich friends.

Too big to fail is crap! That is why they are going on as if they don't owe anyone any explanation. "We" through our elected officials have empowered AIG. It is time to take down the giant and anyone in the way should go too!

I'm angry about AIG bonuses but I'm just as angry about Congress get $47K pay rais–know how many people could be put to work for that kind of money

Rick,

I say bust up AIG like we did with other big companies of the past that created destruction to our country; remember Standard Oil? When something is too big to fail and can create devastation to our country and its economy (like AIG), it needs to be broken up. That is why we had regulations on such activities.

Greed-yes! Then and Now!!!! Greed is what the news is about everyday. All the new is about how many people lost so much. How so many lost all the money to the ponzi guy, or to the loss in the market. THERE ARE OTHER THINGS GOING ON IN THE WORLD!!! The media only talks about the financials, not the war, not health care, not growing old and surviving, not education, only THE FINANCIAL SITUATION!! I heard an analyst on TV this morning say that the American People are only worried about the Financial Situation, well this American is worried about other things too. We are all one medical diagnosis from Financial Disaster, but the media is screaming about how badly we need Health Care taking care of in a fair and less costly manner. Which do you think will really affect your life, the financial situation or your own health care. WAKE UP!! GREED INDEED.

Rick,

Why not just nationalize AIG and let the bureaucrats sort it all out....Or better yet, force this criminal organization into bankruptcy...The American taxpayers would not suffer any more than they are now....We can't afford for Obama and Congress to solve this problem as they have for the banking industry..and the housing industry..oh heh, I forgot the stock market problem....

We are so focused on the bonuses paid to the AIG execs, but, what about the billions paid to foreign entities?

I question the propriety of the AIG bonuses like most of America, but if it is true that they were guaranteed regardless of performance will the same be true now that Congress has quietly allowed their own salary increases to go on automatically? Will they be taxed under the same scrutiny?

Rick Sanchez, I am on vacation this week, I fliped the to CNN, and what a wonderful suprise to you on CNN, during the day, I enjoy seeing you, I would like to see you on air on weekends and at night, too with Anderson Cooper. I remember seeing you here in Miami, on Chanel 7. Great to see you. AIG needs to give back the money. AIG just does not care that is the honest truth.

judy from canada
lord knows our country is not perfect, but our banks haven't collapsed and everyone has free healthcare...just something to think about

Rick-what is equally disgraceful is that these politicions that CNN just had on tv are a day late and a dollar short.You mean to tell me that you didn't see this coming? When asked about how the government did'nt see 911 happening Condaleeza Rice siad we did' not see this coming.Give me a break.We deserve better.Hey Rick,I'm responsible for the recent market turnaround. This turnaround was sparked by Citibank.Citibank posted a profit because they quadrupled by interest rate to cover for their mistakes

Rick: Please don't mislead the public by suggesting all newspapers are going down the drain. The daily newspapers are in trouble, but most small town newspapers are doing well because of their community interaction and low ad rates, and many people will desire a newspaper simply because they wish to hear another voice...other than you guys in the electronic media.

Art Parker
Editor
Millbrook Independent
Millbrook, Alabama

Rick, howcome you don't say your name like your supposed to?

it's not Sanchez

it's Sannnnnnnnnchez

get it right!!!!!

Canada's banks are all regulated and they do not have the problems being seen at U.S. banks. Why wouldn't the U.S. look north to Canada for a model since the Canadian Banking system is recognized as the best in the world?

Being we own 80% of AIG. Why don't we purchase the remaining 20% and so we can put an end to this bottomless money pit.
Gary Bradenton Florida

Rick,

deregulation was the worst thing to happen to banking or any system dealing with money. That's like playing a football game with no rules, or not fencing your sheep while you are aware that wolves are around!

I do not believe congressman have the right to be upset we have had many recessions in the past and plenty of chances to put some type of structure(regulation) and they never have, now that "it" has hit the fan they want to do something

I feel that anytime a company does bad financially they should file for bankruptcy like any other company nationwide. Good luck getting back money from the executives – does the people actually think they're getting that money back. Investigate these execs and put some legitimacy behind business practices. Obama I feel is a wall street agent...After his TARP and other bailouts happened, $8.5 trillion had just disappeared from the treasury. Complicated durivatives are the reason why the nation is in this mess!!

why not sick the government on these guys another way. let the IRS do a 7 year audit on all who work for aig and got bonus

The travesty of this situation is beyond any logic. Who in their right mind would leave a thief in charge of the tip jar? I am so mad, my mattress is looking like a great idea right about now! IMO, Obama is not trying to "Play nice" – he's trying to "Play fair". AIG needs to do the same.

a bonus for running a company into the ground?
i just don't get it?

I think AIG just asked for money to give themselves bonsus, because when they do go under, they will have their personal millions to live on. Disgusting!

I am not upset with AIG and their bonuses. I am upset with the goverment who let this happen. Why didn't they give all these banks stipulations on how the money was going to be spent and regulations. It is ashame all this money is being thrown away. They could have gave everyone in the United States a million dollars and this still would have been cheaper then all these ridicouls bail outs. The people of the United States could have stimulated the economy if they gave us bail outs.

AIG bonuses!??Just as ridiculous as the pro football player who said he would only take 2.5 million in salary due to the economic turndown.
I want my money back!

It was reported that A.I.G. has given five billion dollars to members
of congress. I hope someone outs those who received money
and how much.

It's good and appropriate that this AIG SCANDAL is getting the airing it is. But it makes one wonder what other greedy con artists are out there, right now, pulling the same kind of nonsense that We The People are not yet being made aware of. Greed is BAD!

Help me understand the law that requires AIG to pay these bonuses. Why is AIG required by this law, when hundreds of companies have closed down and laid off long time workers with no benefits? How is it legal for these workers to lose their retirements, while a business that is going to hell in a handbasket without federal aid pays their execs bonuses? What is wrong with our legal system?

Why do the CEO's of big companies make more money running a company, than our president does running the country?

as your (academic) guest suggested...legislation/regulation just means we (business execs/lawyers) will have to create new ways to "get around" the legislation/regulation. That's their job, that's (almost) their sole purpose for breathing -

Rick , regulation to Republicans is noting but socialism, that's what happened to rogation the last 8 years

This credit default swap division at AIG which is responsible for the current bonus scandal would not have existed had the regulation outlawing them not been removed.

The feds learned in 1907 that these swaps were dangerous gambles and outlawed them in 1909. Ask the Congressman when he will sponsor a bill making these bucket shops illegal again.

listening to national public radio news and they stated that congress continues to bail out AIG because it secures their pensions! This is why they're not ending this bailout and bonus outrage!

Hey Rick, where do the aggressive executives get the education for these schemes? Are they possibility the result of Ivy league MBA's,
and does an MBA now equal Master of Business Atrocities?

We may not need newspapers (tangibly), but with the loss of newspapers comes the loss of Freedom of the Press – just another freedom lost in America.....

Rick, the same thing I did when I did not need suspenders anymore. Besides tress are the life blood of our eco system.

AIG has been identified as a single point of failure when it comes to putting the world economy at risk. Why isn't anyone talking about breaking it up into smaller independant companies. I mean isn't it kind of a monopoly if its too big to fail because it would bring about a domino effect. If AIG is broken up then some focus can be addressed to those parts of the company that are having the biggest issues and those parts that can be fixed quickly. Its a basic troubleshooting strategy to break up a problem into smaller more managable parts.

it's not just about getting information FREEDOM OF THE PRESS...FREEDOM OF THE PRESS.....

what do you think we can do about this, rick? please, tell us what YOU are going to do about this?

Hey, Rick,

Sure, go ahead and let AIG hand out their $165 million in bonuses. Then immediately serve the company with a demand note for the entire amount. I'm presuming that the billion-dollar bail-out has a few repayment clauses?

If the government (BO's boys) is dumb enough to give billions of dollars to AIG without specific rules shame on them. The contracts that AIG had with these executives was in place before any Governmnent funds were ever given to AIG, does anyone think it is a little scarey when the Government starts telling companies to disregaurd contracts with your employees and do it our way or else!!

Todd in Cincinnati,
You have to be kidding me. You can’t tell me that OUR government gave AGI a bail out without finding out what contracts are out there, who they owe, and have a plan in place of how to fix the AIG problem before handing out OUR money . Do we really have people in place that are this incompetent? Or was this done on purpose to make our government look like the unfortunate good guy while handing out our money.

If we (the tax payer) now own 80% of AIG, why can’t we fire the CEO and others responsible for the failures and bonus greed? They clearly have shown moral standards are not part of there lives. And why can’t we brake up AIG and sell off policies to other companies so one company isn’t so big that it can’t fail.

I am a disabled nurse, who was boughtout by the insurance company ay the beginning of 2008. I did not touch the money, but put it in tax defferred annuities. I am now having to pay 28% on what I received which amounts to over $11,000.00. Is this right? I thought disabled people paid 10% of taxes. I also get ssi, but that amounted to $22,000.00. It doesn't make sense to me. has Obama addressed the disabled?

I heard that congress continues to bail out AIG because it secures their pensions! This is why they're not ending this bailout and bonus outrage!

this president needs to leave these high payed people out and get in some people with good common sense to clean up this mess. they rushed this bill thru and forgot to cross the t's and dot the i's. now it;s to late to stop this waste of our money. poor people know how to get the most for thier dollar. we don't get hundreds of thousands of dollars a year to live on.

The last time the world saw such a massive amount of stolen funds there were pirates sailing the seas. Say Rick, this gives me a good idea; one that might actually be worth the 140 bazillion dollars we have paid these guys for ripping us off. Why don’t we pass a law that allows us to affix a plank to the side of the AIG building? Then we march each of the so called top executives down the plank and then auction off the right to push these guys, one by one, off of the plank? I think we can send a clear message to this type and pay down the national debt. Any Thoughts?

Rick, Canada is a rich capitalist country with a banking system similar to the US' but with some no nonsense regulations. The Canadian banks are not in crisis, because the Canadian government has done its job. Why does not the press offer the Canadian system as an example to follow? Is this some kind of arrogance on the part or American?

Toumi Mondesir, Quebec

Why aren't you commenting on the president's proposal to make veterans use private insurance for their treatment of combat and service-related disabilities. All veterans, and all Americans, should be outraged at this proposal. You need to speak with Sen. Patty Murray and with the head of the VA on your show about this outrage.

Rick. Don't worry about the AIG mess. Many of us with money in annuities will fire them soon. I turn 59 1/2 soon and will withdraw my funds. I put my money in but do not get any interests. I now know where my interests disappeared to. Lately AIG has been calling me nonstop because they know I will come of age to transfer my funds. But–thank God for caller ID.

That guys talking about filters? You mean the filters of today's media including CNN where we get the media's version of the truth and not the actual truth but scewed lies that either lean left or right, but not factual as long as it serves the media and its agenda.

Rick, the AIG execs need to give the money back and then every one of them should to audited by the IRS. If they are taking money right before our eyes, then you know that they are also doing it behind our backs.

I'm really fed up with all this nonsense about AIG giving out bonuses and "where was the oversight." Where in the world were Barney Frank and Chris Dodd – their congressional and senatorial committees are responsible for oversight (not day-to-day). But they are apparently blameless in ALL of this.

If the American public is really interested in a feeding frenzy about taking back ill-gotten gains from companies like AIG, how about getting back the equally ill-gotten gains from your congress person and senators who raised not a single finger to prevent an AUTOMATIC pay raise for themselves. Now there's about 535 people who have done a wonderful job screwing up this economy, and being rewarded for it. Believe me, the people on Capitol Hill DO NOT any longer represent the people.

I was listening to national public radio news and they stated that congress continues to bail out AIG because it secures their pensions! This is why they're not ending this bailout and bonus outrage!

AIG should be shot. In lieu of that, Americans shouls pull all their assets. Then see how they like it. Tax their bonuses as they are income, and should be taxed.

Bonus are normally awarded for superior performance. If the AIG bonus receipents meet or exceed some standard of performance, then they deserve the payment. What I've not been able to understand is how someone would deserve a bonus for a business that is failing. Unless the bonus is for hoodwinking Congress into bailing them out.

I think that congress is responsible because when AIG asked for the bailout. Why didn't congress ask what the money was for? From what I see the bounses were locked in a year ago. So mainly the bailout went for the bounses to be paid.

Hey Rick,
Anyone making payments to AIG, make your checks payable to The American People, and send your payments and payment slips to the White House. Lets let AIG know that if they won't make concessions, we will say No Way! Not Any More! We the people own 80% of AIG, so I want MY payments sent to The White House!

The day of newspapers being independent sources of investigative reporting are long gone. Corporate consolidation has run amok – turning most papers into nothing but right wing mouthpieces,regurgitating the AP line. Very few, if any, willing to to invest in their own reporters. I stopped reading the the papers years ago when I realized I could get the exact same news from the local television stations, which are pathetic at best. Why should we even believe them when a paper like the New York Times- a "liberal" paper-acted like a mouth piece for Cheney's propaganda? These "Mc Papers" are a disgrace and should fail.

Before we go too far afield with "newspaper closing" panic, I think it wise to embrace a certain broader perspective. Albeit a reflection of businesses closing in general, which is a continually lamentable trend which will undoubtedly lead to escalating unemployment; in contrasting "newspaper" journalism to other venues of information gathering, there needs to be a clear distinction made. The three pillars of jounalistic exclellence in the U.S. are The New York Times, The Wall Street Journal and The Washington Post according to most experts/critics. Individuals who read these papers seek them out for a variety of reasons, but the process by which they assimilate this infromation is far different from "blogging", "net-news", etc and I would humbly submit these are not in jeopardy. At the same time, all these journalistic icons are trying to "re-brand" themselves in the internet age to remain current. Will we see a nation wihtout newspapers?Absolutely not, and we do ourselves a disservice to suggest otherwise.

Rick,
Do you believe the government would bailout the company that I used to work for? My company went bankrupt we asked banks, and even the government for a loan. With accounts in arrear due to us, we where sent a from letter thanking us for our business but we are sorry to inform you that we cannot extent your credit. Maybe if we waited Obama to take office, we just might of gotten that loan.

Regulation? You must be kidding. If you remember Representative Henry Gonzalez from Texas a few years ago warning about BCCI and the S&L's and what was going to happen. No one in the congress listened and look what happened. They could not let it go at that, they had to get rid of the regulations that kept the financial instutitions from going crazy with unbridled greed, now look what happened. Congress will not take any responsibility for the crisis when in fact they were one of the reasons we are in the mess we are in. The solution is to vote out of office everyone who has been in Congress longer than 12 years.

RICK,

WHAT I THINK WE SHOILD DO, SICE WE THE PEOPLE OWE 80% OF AIG, THEY SHOULD ONLY GET 20% OF THERE BOUNS'S. AND MAKE THEM REINVEST THE 20% BACK INTO AIG.

In the world I grew up in, buying, selling or using a false or invalid asset as collateral is fraud. What kind of Alice in Wonderland world do we live in now, that it is rewarded with bonuses rather then Jail time?
Jim

Banks, Insurance Co. & the rest of the companies that have abused the economic system need exposed, people named, & accountability demanded. This includes the government, lobbyists, the whole rack of "Good 'Ol Boys" that have been undercover running the show. The lack of integrity & responsibility from the people involved have crippled our economy & hurt many citizens of our country. The theory that either your at the top & live the good life, or your a nothing at the bottom ends here. It's time to stand up for the values our country was founded on. My gosh, our forefathers must be rolling over in their graves! Worse yet, ultimately it's our children that will suffer the most from the outrageous acts we have just began to uncover.

Rick, all this so-called "OUTRAGE" by the government is a TOTAL SHAM being perpretrated on the American public. The government has known of these bonuses for over a YEAR. They knew when they would be paid, who would be paid, and how much would be paid. They put in Libby as CEO of AIG and HE KNEW long ago!!! Sen Dodd even had an amendment to the bail-out bill EXEMPTING said bailouts in contracts signed before Feb 11th. The American people should wake up to this sham. I just don't know why the press isn't reporting it as it really occurred!!! As a representative of the press, you should really start doing you job in being honest with the American public and expose this sham for what it really is!!

how do we know they didn't intentionally cause the recession to feed those bonuses the keep them coming?

Rick, if Aig can’t get out of paying the bonuses as they say, fine, pay the dead beats with shares in Aig stock. Oh, and not at the face value it is today, pennies, pro-rate it to the price it was per share the very day they started working for Aig ($ 60.00 plus a share). That should give them a little incentive to get the company going on the right track again.

Mike Bruic
Canada

Before we go too far afield with “newspaper closing” panic, I think it wise to embrace a certain broader perspective. Albeit a reflection of businesses closing in general, which is a continually lamentable trend which will undoubtedly lead to escalating unemployment; in contrasting “newspaper” journalism to other venues of information gathering, there needs to be a clear distinction made. The three pillars of journalistic excellence in the U.S. are The New York Times, The Wall Street Journal and The Washington Post according to most experts/critics. Individuals who read these papers seek them out for a variety of reasons, but the process by which they assimilate this information is far different from “blogging”, “net-news”, etc and I would humbly submit these are not in jeopardy. At the same time, all these journalistic icons are trying to “re-brand” themselves in the internet age to remain current. Will we see a nation without newspapers? Absolutely not, and we do ourselves a disservice to suggest otherwise.

The AIG executives should have been fired instead of getting bonuses.

Hey There Rick:

I agree! It's human nature to be greedy and get whatever you can get for as little as possible. We need to curb that impulse and think about it's long term effects. However, I do not agree with everyone who BLASTS the AIG employees getting bonuses. Are you going to blast employees of other companies who got bonuses this year...although they didn't get bailout money? All of these AIG employees were not personally or solely responsible for the mess...it was a group effort! Let them be, stop using them as scapegoats and get on with the business of fixing this thing! Congress jumps on the bandwagon to scapegoat because it is politically rewarding!

Rick,
For me personally, I would have no trouble if the AIG whiz brains took the Japanese approach. The threat of this brain trust being disrupted, dismissed, dismantled, just might be a new begining of old values. I can speak first hand, as I have lost 54 % of my retirement in the last 4 months.

Hi Rick,

Sorry I don't tweet so I'm doing it old school. For the newspaper problem, I think that a yearly fee to access news would be a good start. Something like "Adult Check" or "Global Male Pass". 20$ a year by so many people divided by how many people accessed your news source would not cure the problem but at least help it.

I have a solution. Congress should enact laws immediately taxing any compensations beyond their normal salary at a rate of 90% to 95% with NO loopholes. This would pertain only to executives of any of the bailed out companies. This way the company would still be honoring its ridiculously conceived contracts and the taxpayers would be refunded. State taxes should recoup the rest. Problem solved!

this whole AIG thing is outragous,outragouse that we keep giveing them money...if you keep filling a dogs bowl with food he's gona keep eating,TAKE THE BOWL AWAY!!

Rick: IF the Gov of California can break a legal contract with government employees and order them to work fewer hours to balance the state's budget then the federal government break this contract to pay AIG execs these "bonuses".

Sybil Bolivar

How can we justify to our two of which cannot find work due to lay offs that corporate mougles and banks deserver their hard earned money for the rest of their and their childrens lives when they can't pay rent, buy food, or pay bills. Nothing is going to take away the hurt and despair they experience. Maybe these rich people should take their bonuses and support people in this situation. Make them live on what other Americans are experiencing because of their actions.

Rick, BIG BUSINESS MODEL GREED, MORE, GREED, MORE, ETC.
TAKE A DEEP BREATH!! PRAY!!

REMEMBER THE YORKTOWN!

to all of you so happy with the "Rich Bashing" did you ever get a job from a poor person? If there are no rich, WHO IS GOING TO PAY THE 90% OF ALL TAXES PAID (yep you will)...if there are no rich, what happens when YOU SUCEED AND BECOME RICH? Go ahead, bash away, but keep in mind, one of the GREAT things about our country (or used to be anyway) is that ANYONE can become rich..anyone can be a success and no I am not rich, but I know that it is always possible (or was anyway) not anymore. Did you see Judge Judy on CNN? maybe you should pay attention to what she and others are saying...Socialism only works UNTIL THE GOVERNMENT RUNS OUT OF YOUR MONEY.

All HP employees got hit with w 5% permanent paycut, plus those from EDS have an additional 10% paycut for hte month of April. All this while peole who created the mess and are taking money out of my pocket are getting bonuses? Retention Bonuses? why do they want to retain them anyway, let them see if they can find a job in this ecomomy they've created.

What's flying below the radar is the fact that companies like Goldman Sachs and others who received direct aide from the government ALSO received payouts from AIG; isn't that double-dipping by these companies... What's more, these payout only came to light when AIG reluctantly gave information up on what companies it had made payments to as a means to deflect from the story of the $165 million in bonus they're about to pay to their own employees.

This whole mess goes back to the former Treasurer-Paulson-and his plans to put TARP thru with zero oversight beyond that office.

$5 Billion spent to undo regulations on financial institutions was spent directly on lobbying or donations or other methods of influencing members of congress. Freedom of speech should not include influencing congress through the use of "excessive" influence. Joe/Jane Street as some (very little) influence as individuals because they represent a small amount of $, certainly nowhere near $5B. Someone needs to make the distinction and deal with the real question we have: Are laws are for sale?

Nobody in thier right mind would keep giving these people our money. Of these are the best people AIG has and they are affaid of losing them if they don't pay there bonuses, then auddy-oas. Because this will happen again with the same crew, and good-by to AIG period.

HI RICK, I LOVE YOUR SHOW. I AM TAKING A HIT FROM TWO FRONTS HERE. NOT ONLY ARE MY TAX DOLLARS HELPING THE CROOKS AT AIG GET THEIR BONUSES, BUT AS A FLIGHT ATTENDANT FOR A MAJOR AIRLINE I AM WATCHING THE CEO AND ALL UPPER AND MIDDLE MANAGEMENT TAKE THEIR MILLION DOLLAR BONUSES WHILE WE AND OTHER WORK GROUPS TOOK A 33% PAY CUT IN 2003 TO KEEP THE AIRLINE FROM GOING INTO BANKRUPTCY!! SOMETHING IS WRONG WITH THIS PICTURE!!
CATHERINE IN CALIFORNIA

Hi Rick,
It is very sad to see that a GREAT COUNTRY as USA having all these EXPERTS and none of them came up with the solution for the economy. The solution is right under our noses. We can fix this problem in less than twelve months. The solution to this economic meltdown can be found between Mr. Reagan and Clinton presidencies. I'm a real estate broker in Southern California for over twenty years, we have been throught this before. We can fix it without spending a cent. We can give trillion of dollars to banks and big corporations it will not help the economy. Having a lot of money does not creat jobs. Please call me so I can tell you what I know will bring the economy back. My cell number is: ((edited))

Still peddling the lie that the Gramm-Leach-Bliley Act was a contributing factor in this mess I see.

Too bad FNMA, FMAC and AIG were not affected by Glass Steagall. Too bad Citibank's troubles are not related to Gramm-Leach-Bliley either. Too bad the simple truth is that we're here because banks lent money to people who could not repay it at the behest of FNMA and FMAC under pressure from Barney Frank, Chris Dodd and Chuck Schumer. Too bad Democrat appointees to FNMA and FMAC cooked thier books so they could pocket tens of millions of dollars. Too bad Republicans sounded the alarm and tried to bring legislation to reform FNMA and FMAC to the floor of the senate several times but were blocked every time by Chris Dodd. Too bad President Bush didn't use the Bully pulpit to more loudly sound the alarm (of course, if he had, the D's would have characterized it as a Republican attack on the poor and minoroties – oh, wait a minute, that's exactly what they did every time the R's proposed a fix). Too bad Tim Geithner is totally incompetent as demonstrated by his handling of the first bailout. Too bad the same idiots (Dodd and Frank) who got us in this mess are now key players in getting us out. Too bad our president has less economic aacumen than a ten year old lemonade stand proprietor. Too bad Obama's answer to the mess is to raise everybody's taxes and spend trillions of dollars we don't have funnelling money to his activist cronies and on phony "stimulus" projects that only benefit public employees (In my state one of the stimulus projects is a million dollars for a skate park – now that's really going to help). Too bad our so-called media has even less economic acumen than Obama. Too bad they're so in the tank for him they abandonded journalism for cheerleading.

I used to think those guys who stockpiled food and guns in the desert were nuts. Mow, I'm not so sure.

In this troubled economy would it be better to eat red chicken chili or white chicken chili? I just don't know which I prefer anymore or what would be more cost effective. I know that i can't stop eating chili, but i need to cut costs somewhere.

AIG's argument to keep these executives that are getting these bonuses."These people are very knowledgeable and would be hard to replace." Hey, they can't be all that smart to put their company in the chaos that they are in.These people can be replaced by calling the local employment office. Hello

hi rick : you say 73 exec 's where involved in the bonus's. what i would like to know and i'm sure a lot of people would like to know is what party these people belong to. when i vote i'd like to know if there's a pattern here.

All you got to do is follow former Sen Phil Gramm (and friends), and you will find him front and center in the deregulation of the 90's, the Enron fraud, all the way to the current UBS offshore tax frauds. It is hard to believe that someone of his supposed expertise could be so close to so many events and feign innocense.

Where is the mention of the protections built into the latest bailout, which where placed by Senator Chris Dodd and specifically gave protections for bonus's before February.

This entire debacle is shameful. Everyone is pandering to their financial supporters and selling out the American public, Money does not equal votes and money doesn't equal free speech, when are the working poor in this nation going to get a break, where is our Bailout?

Rick, enjoy your show. Perhaps newspapers can learn a thing or two from you. Killing thousands of trees daily and filling up land fills is no longer the way for newspapers to go. Creative destruction is at work sending newspapers the way of the blacksmith, horse and buggies, and rotary phones. Let's keep the journalists, keep the news, and provide cheaper ads–use the brands! I think the PI in Seattle has the right idea by going online! Green might be a good background color!

When the hell are the people responsible for our economic collapse from Wall Street to our congress going to be prosecuted? Politicians from both sides of the political isle taking money in exchange for no regulations on banks and investment firms, all of these people should be tried for this and the politicians should be tried for treason. HEY AMERICA, HAD ENOUGH OF THE CORRUPTION YET? ANYONE READY TO REMOVE ALL THESE CORRUPT CRIMINALS FROM OFFICE IN WASHINGTON REGARDLESS OF PARTY? ANYONE READY TO ACT BY FORCE IF NEEDED BECAUSE OUR VOTES DON'T SEEM TO BE DOING THE JOB ON CLEANING UP OUR CORRUPT GOVERNMENT. We accuse the Mexican government for being corrupt, and sure they are but Democrats and Republicans are NO DIFFERENT! Time and again they have chosen to put lobbyists first and those like Harry Reid and Nancy Pelosi and John Boener and all of them have lined their pockets, putting ALL the American people last. Back room deals because they no damn well these deals will only hurt the Average Taxpayer American.

My father inlaw lost almost 85% of his retirement, and I'm beyond angry over this mess and our politicians say they'll do something about it but protect the ones highest up, the ones who are the tip of the problem. Finally, we the American Taxpayer not only is bailing out AIG, but irreseponsible banks in Europe too, so ask your self if that doesn't make you extremely angry. Charless Grassley said they either apologize or commit suicide, but I think we should go by way of the middle east and make a statement and hang all these corrupt individuals on public courthouse lawns and send a message to anyone who is even thinking about screwing the taxpayers in this country, DON'T THINK ABOUT IT OR YOU WILL PAY DEARLY!

Rick:
I am concerned why an exception for AIG executives or employees?
When you issue fraud instrucments you go to Jail. When you do not
pay your taxes to IRS your bank accounts are frozen. Why do we as
tax payers have to give a bonus to AIG when they have misused
funds and issued fraud instruments in the financial market place. President Obama must take over AIG on behalf of the tax payers.
AIG needs total reorganization and new executives
just as the white house has new staff & change taking place right
now. Why should our bail out funds be used as free tax free bonus?
This is the old boys club/ FAT CATS getting away with many years of no ACCOUNTABLITY.

I voted for President Obama and worked his campaign because I
wanted change and a better America. This was not easy in a
Republican State.

Shame on us if AIG continues to receive bail out monies from
tax payers.

The tax payers own the majority of AIG stock right now.

Let's remember how this all started, shall we? First, democrats wanted everyone to own their own home, so they relaxed the lending requirements by banks and other lending institutions. People bought homes that they couldn't afford and went into foreclosure. These assets are sold as securities and purchased by institutions so as soon as people started to default on their mortgages, these mortgage backed assets lost their value, which decreased the balance sheet for these institutions. Meanwhile, Barney Frank et al over in the Banking Committee were telling everyone that Freddie Mac and Fannie Mae are sound when in fact they were not and caused a greater ripple effect in the downturn of the economy.
The audacity of Sen. Dodd and other democrats to act shocked and appauled over AIG execs getting bonuses, when Dodd knew about this a year ago! These democrats pound their fists and beat their chests in front of the cameras, but the reality is that these numb-skulls were the ones that brokered the deal with AIG. Do they get any blame?

Hey Rick,
If all those AIG guys that got millions, for retention bonuses, are now out of work, will they get un-employment insurance too?

Bail out, bail out, bail out....BS. I'm so sick of hearing how another big business/executive (the most corrupt being insurance companies, I mean really, we are required to purchase coverage that we may or may not need) is being bailed out for indiscretions, mis/over-spending. It's juvenile–how many times do we have to hear about another about their "Britney Moments" (:Oops I did it again!").

I mean, I'm all about a second chance, but gimme a break! What happened to learning from the mistakes of others? What ever happened to behavioral modification? If you catch your dog making a mess on the floor, you shake a can of pennies, stop it from happening, and take them outside and praise them for doing there business outside! You don't pet them and tell them we'll get it next time. Before you know it, they are going on the carpet when you aren't looking and then you have to clean it up! Sound familiar, Wall St?

I'm like Scott above–^. Where's our bailout? I went to college and got a degree. I became a paramedic (after attending another institution because my bachelors degree didn't get me the job I was told it would). I would work 10/14 days *12-hr nights) of a pay period, pulling overtime to make ends meet. Now, because of cut-backs OT is not as available because everyone needs it.

President and Mrs. Obama, I'm doing my service to the community already! How about a student loan bail-out?!? We can even call it "forgiveness of debt" instead of bail-out so it sounds a little different! That would stimulate me! I'd be willing to purchase/spend more if I didn't have that over my head!

Rick I am Cuban like you and all this gobermental deals are making me very unstable. China is going on a shopping spree in our country. We are getting closer and closer to be Comunist than ever. All those people that may have cost us our freedom need to be punished.

Hi Rick,

To weigh in on Misty Croslin/Cummings – In my opinion, she is just unsophisticated. It's just unfortunate to say this, but she does not seem to me to have any college sense, which is somewhat necessary to make one gain some common sense. On another note, I just cannot see why they got married in all of this situation. It is just unfortunate to say this, but, to me, both Ronald and Mitsy are two low-lifers.

Has any one bothered to ask themselves why it is that we have not seen any of the CEO's of the very companies that have taken down their shareholders and the rest of the world with them? Every minute of everyday the chatter on the cable programs is what is Obama doing to bail out the system? Is it the right move? Don't you think that you should be asking the people that supposedly run our largest financial firms what their plans are????????????????

What is the difference between AIG paying bonuses to brokers using tax payers money or brokers collecting brokerage fees from their clients while losing trillions of dollars invested these taxpayers in their personal investments.

Nothing.

Some people consider Canada a socialist country. We now have the top banking system in the G7 and no need to social our banking system. When it comes to sound capitalism look at your map and see who is on top.

The French knew what to do when they went bankrupt from overspending of the royalty. Dr. Guillotin helped them make a good decision. I recommend that CNN should have built and erect a guillotine on a 10 foot stand on Wall Street. A sign should be placed on this classic invention and it should say–ATTENTION BANKERS AND GAMBLERS–NEXT TIME WE WILL USE THIS ON YOU! The American Taxpayers have spoken-2009.

How is it tht is the consumer has bad credit and cannot get a loan, that AIG not only can get a loan, but get additional loans?

Your network's Cheney interview was pathetic. Learn from Jon Stewart to hold somebody responsible for some collosal screw-ups. Interviewing the former Vice President who is responsible for lying us into a unneccessary war, screwed-up response to Katrina and Wall St de-regulation and not having them own up to the mistakes is highly reprehensible. I decided that myself and my family would no-longer watch CNN. Tell John King to watch Jon Stewart's interview of Jim Cramer for pointers.... Shame on your network to let him spew out his garbage without challenging him on the merits...........Tell me of any former President/Vice President who are so dis-liked by majority of American or International public?

March 17th, 2009 10:02 pm ET

I Know that many young Americans will not believe it but America was one of the best places in the world and everyone envied it. Today we have lost it all due to greed, corruption and braggadacio. When will we get that status back?

Yes, we can survive without newspapers. Just line the birdcage with computers.

I am mad as hell, that these guys are sitting in their homes enjoying their bonuses...and I am being taxed now and in the future on my meager salary...my husband and i are in manufacturing and are surviving now, even though ours hours are being reduced...this is not fair to us...we struggle every day to just get by...
i think the next stimulas needs to start at the bottom....with us workers

Dear Mr. Sanchez,

The seminal decline of The U.S.A. began when (in a semi-conscious state) a few U.S. citizens adopted the position of being "politically correct."

From that point on, little by little, our most profound constitutional right; that being FREEDOM OF SPEECH, has been relegated the dubious distinction of mere words on an antiquated document.

We (taxpaying, honest, moral U.S. citizens) have nobody else to blame but ourselves for allowing the entire present convoluted abyss to manifest itself.

Ironically, The United States of America was founded on the revolutionary principles of dissidence, discord, and loquacious diatribes; written by our founding fathers who were slave owners, bootleggers and political opportunists.

Ask yourself, in reality, has anything really changed?

"History 101" teaches that all former "great" civilizations, more often than not, succumbed to their own cavalier and reckless stupidity.

Why should the U.S. be any different?

P.S.: Will the last person to leave the U.S. please turn off the lights?

As unamerican as it may sound, the American people are just as much to blame for this mess as the corporate officers who ran their businesses into the ground with greed. People used poor judgement when buying their Mcmansions, their Hummers, ran up credit card debt they can't pay, took vacations they couldn't afford and are raising kids who think money grows on trees. GREED has become the American way of life. Bigger, better, more seems to be the mentalitly of the majority of Americans.
STUFF does NOT equal happiness as many would like to believe. It's time the American people take responsibility for their role in this disaster. I live with in my means, teach my kids they can't have everything and I think before I make a major purchase. Would I love to have more than I do, sure I would, but not at the risk of being strapped to a mortgage payment I can't afford. Life is not about living for today. It's about thinking about tomorrow and realizing that you're just one mishap away from being in trouble finacially. It's high time Americans wake up and realize they too had a HUGE part in the downfall of our economy.

The AIG folks do deserve their bonuses. Their risk models always involved the well greased US government bailing them out. So their models worked great and now it is bonus time! Remember, insurance is a matter of taking risks. And the American taxpayers came through great, with a little help from their elected representatives.

You do not need Economics professors and professionals to figure this out. AIG needs to fail, and the government should let it....

Take a page out of Charles Darwin's Theory of Natural Selection (survival of the fittest), in which only those who can adapt to change can survive....

If AIG strongly believes that they'll pass Money Management 101, then let them fail. If AIG believes that paying their salespeople millions of dollars for a job "not well done," then let them fail (scared to lose them? - let them quit and find employment elsewhere). If AIG believes that President Obama will give them a fifth round of stimulus money, then let them fail.

Because of AIG's and its management's inability to run a profitable company, there will be others who will rise to the occassion and replace AIG as "the giant" in the Insurance Industry. It's just plain evolution.

Let AIG fail.....

What's with trying to lay blame on the Obama team for AIG bonuses? Before his term ended, VP Cheney took a nice vacation trip to the Republic of Georgia and handed them $1 billion, no strings attached.
Bob

If you question that the banking industry is greedy and uncouth, step into any bank and observe the level of customer service you receive and the way your glared at.

Congress is angry over AIG executives getting retention bonuses but none have come out and said these executives seem to be smart enough to get around the laws Congress makes. Or why are the services they perform so valuable they can be rewarded millions just to stay around? And where were the rules and regulations regarding and insurance company and a S & L Bank being affliated? Politicians are saying these are the very people who performed acts that brought the financial market to it's knees so maybe we should retain them to create some rules and regulations to guard us against future actions that might bring our financial market to a halt. Cindy

rick,
i listened to you talking yesterday about the republicans in the Clinton yrs. changing laws in favor of the likes of AIG ("snicker snicker"). Now today are you going to talk about how deep the democrats are in to this whole AIG fiasco (snicker snicker). Just be fair. Our whole government is broken bad now just one party but both.

I'am writing from Ontario Canada ,we are felling the heat here as well. I think that all these companys auto, bank, insrance should of just folded I'am sure there would have been lots other companys or people that would have jumped in and taken over.Then we all would be on the road to recovery.Instead of the blame game and finger pointing going on know.

Rick, What I want to know is what did the AIG executives DO to entitle them to the millions in bonuses paid out. I understand that their contracts entitled them to bonuses, but usually contractual bonuses are tied to a benchmark of some sort. What did these employees actually DO–what extraordinary performance did they accomplish for the company that EARNED them a bonus? (or what did the contract call for them to do to earn a bonus?). It's outrageous that they GOT millions in bonuses, but no news organization–including CNN–is telling us what they DID to earn these bonuses. Isn't anyone else curious?

I have learned if a contract or in this case a bill is rushed it will always end up w/loopholes and to a predator business like AIG this will always happen.....
If they want to take those bonus's then make them go fight in Iraq or Afghanistan for 1 yr then I will say then you really worked for the money we gave you .....

I find it ironic that the very person who chairs the committee investigating AIG, Paul Kanjorski, that the bulk of his political contributions come from insurance companies and real estate companies.

Rick,
There is an easy way to get the AIG bonuses back to the tax payers: STOP PAYMENT ON THE CHECKS and let the unnamed recipients sue to get their contracted payment. My bank hold any deposit (over $10k for 10 days.

Hey Rick? Speaking of CEO/Bank bonuses ..... seems to me there was much talk that ex- VP Dick Chaney had bundles of cash waiting due from Haliburton ( and do not try and sell some line about honest Republican government contracts) so what gives ..... bias or bull here Rick?

Rick,

Retention means you retain until the job is done to satisfactory completion and can be withheld if not up to standards. It is apparent that AIG did not act up to "industry standards" so why should 165 billion be paid in retention. Also, the contract was written when AIG was a whole company, now it is not AIG it's AIG & Company LLC i.e, taxpayers – I would like to see the way they would have to have an certificate of liability written now in the legal sense.

Libby is helping, I wish the Sen. from Mass. knew what he was talking about ...quit attacking him and get answers to the solution

Here is an idea for these AIG bonus'
Pay them out to the employees in AIG stock rather than cash
Value the stock at the share price when the contract was signed

Congress keeps blaming AIG, but Congress and the President NEVER read the bills they signed that handed over taxpayers money for bailouts.

Liddy just doesn't get it. Its obvious that he is just trying to protect these corporate raiders and their bonus money. He has contradicted himself about what the bonus money was for at least twice in the last hour. He is lying-no wonder he is taking $1.00 a year-he's there to lie for them and cover tracks. I am unemployed with a master's degree-both degrees earned with honors and I'm having trouble getting enough to eat! Break out the pitchforks and start burning effigies in the streets-scare the money out of these sub human sponges!

Nothing like taking money without accountability. Don't they have to set out what the moneys are going to be used for?

It seems to me that AIG is the biggest ripoff artest the us has ever seen

If the members of the congressional committee would shut up and LISTEN, they might understand more about what Mr. Liddy is trying to explain. Who was that loudmouth representative from Mass., the contract lawyer, who didn't understand the contract? I don't agree with the bonuses, but I understand what the AIG CEO is trying to say - when he has a chance to say it.

Hey Rich, all that glitters in our Canadian Banking system is not gold .... our Neocon Prime Minister (Harper) and finance Minister ( Flaherty let the banks ( backed by CHMC ( government insurance company) loan out billions in no money down, pay for closing costs with a credit card 40 year mortgages to thousands of people with no jobs and Rick when some could not even qualify under even those conditions they sold them off for profit ..... something that seems to have gone unnoticed by Toumi Mondesir above. Yes two banks appear better off but that leaves two that have not been mentioned! and Central Housing and Mortgage Commission (CHMC) as well. Our default system is much different ( accountable) but those $6-700K homes are now worth 30% less hello?

If AIG executives knowingly wrote a retention bonus contract in the 2007/2008 timeframe with knowledge the company was potentially going to fail is it not a criminal act?

Has anyone explained why AIG did not enter receivership (other than it got a nice handout of taxpayer $) ?

Hey Rick, Considering how many Veterans the White House wants to take Benefits from , and how many they are ready have, we should be able to give AIG a blank check and let them defended the boarders!!!!!!!!!!!

AIG is 80% owned by the American Taxpayers...where are our bonueses for bailing them out of collapsing. Had it not been for the taxpayers there would be no bonus monies to give out so where do we come out in the whole scam. AIG is just as bad as Bernard Madoff..this was just a Ponzi Scheme by a Cooperation instead of an individual.

I'm a lifelong Democrat who was appalled at Rep. Stephen Lynch's 5 minutes at the Liddy hearing. Hope the press slams him.

I'm a laid off teacher. This money should be put to better use! Greed is right! We deserve better than this! Thank you for supporting us Joe Baca.

Rick.... what in Gods name is going on? I just heard one man on the committee ream Mr. Liddy something terrible! Mr. Liddy was enough of a gentleman to point out where this man was wrong and left the member with his mouth open. Mr. Liddy may have been wrong in not advising this committe of his making the bonus payments but Thank God for his stepping up to try to correct a wrong he didn't cause! No wonder people don't step up and grab a job like this.

Rick,
I think Mr. Liddy knows that has made a mistake by agreeing to give out these bonuses and he even said it during the testionmy yet he fails to admit his wrongdoin. Why dont they just fire him and have AIG go bankrupt. We have seen enough greedy CEOs and the govt needs to sto giving them free money. We need to stop giving them tax payers money.

Hey Rick – Someone needs to educate the public about capitaliam being an Economic system – NOT an ethical/moral system. 'Greed" is the natural consequence of unfettered capitalism due to human nature being what it usually is. AIG needs to be broken up like the 'Bell' System was and regulated by the Fed to maintain ethical behaviors. That happens, and I will be pleased to help as a taxpayer.

We are so wrapped up in a few million dollars in bonuses. What about the $62 Billion that went to foreign countries.

What is wrong with these people? Just give us the money back, and we can move on.

Rick – I am watching Mr Liddy and the subcommittee. I want to know why the subcommittee is not talking about the company's that AIG owes and are selling. For example, Hartford Steam Boiler is being sold by AIG to a German company at the end of this month. Where is that money going. Hartford Steam Boiler is a profitable company owned by AIG.

Let me think about this...Fed gives AIG $170Bil, AIG pays retention bonuses of $165Mil...(.01%)...it seems like our capitol hill representatives should focus their energy on getting back the the 99% ($170Bil) back versus the .01% ($165Mil) paid in bonuses...what a waist of our tax payers money and representatives time...again focusing on the wrong thing.

I would appreciate the media not excusing Ed Liddy simply because he came on after the fact. I do not care and neither do the American people. If you need to personally dodge responsibility then get out of the leading role. Stop catering to this Mr. Rick Sanchez.

NO MORE MONEY for AIG!!! And get the bonuses back! Let them work it out themselves. There's always Chapter 11.

Just how much money from AIG went to our legislators and who are they. Seems as though the guilty are pointing the fingers.

Obama insisted that we bailout these companies, pushed the bills through without reading them, then he signed it 4 days AFTER congress was forced to sign it within a day without reading it. WHAT DO YOU EXPECT?????

When is a NOT-retention bonus not a NOT-retention bonus. When it is an AIG bonus. Why is Liddy so protective of these bad businessmen and why do we believe that he is working for nothing?

Rick, this whole entire process is crazy!!! We need to put the Congress on the hot seat and let us the people ASK them what the Heck happened prior to this mess....they are the ones who got is into this situation. Liddy was not even there and these guys are covering up the Mess the govt created. John

Maybe I'm missing something other than the grandstanding here. Am I correct in that Liddy did not author the contracts the have allowed these bonuses? I can't believe our elected officials on the hill are slamming him for honoring valid employment contracts he didn't write. I understand the losses we've all suffered, but are we really saying we shouldn't honor a contractual agreement?

Disband the organization if you don't like the contracts, or how the company was run. But don't have people do what they've been asked to do, and then not pay them for it.

AIG renamed their Auto Insurance Company to 21st Century last year. Every time I see one of their new commercials I wanna puke. Folks are calling them for quotes, and don't realize... it's AIG.

Rick,
Is AIG VALIC retirement money safe. Should we take our money out of VALIC

Rick,

Yes he is doing this for a one dollar bill a year.... Sort of like the Insolvency lawyer who say's "he's here to help!"

john
white Plains

I heard that Congress REFUSED to take a salary freeze. How can they scream at Mr. Liddy (AIG).

DO I UNDERSTAND THIS RIGHT, THAT CONGRESS JUST INSURED ITSELFA $47,000 RAISE? PLEASE ELABORATE. I HAD NOT HEARD THIS.

MY UNDERSTANDING IS THAT THEY HAD TO 'LEGISLATE' TO STOP THOSE RAISES WITHOUT AN ANNUAL VOTE. OBVIOUSLY, THEY DID NOT LEGISLATE THIS ONE! SURPRISE, SURPRISE!

Hey Rick,

Why isn't anyone from AIG getting handcuffs slapped on them and goin to jail for their evil crimes that they committed against the american people.

Whenever you file a claim with an insurance company the first answer is "no, sue me". Why didn't he say the same to those who wanted the bonuses? I can't believe that out of 280 Million citizens, AIG has the only people who can fix this problem.

I think this is such BS! They give out bonuses for when people in AIG complete their project. I work in the medical field in Phx, Az. I complete my work/ project everyday and guess what?! We haven't gotten bonuses this year and most of the hospitals out here aren't even giving out raises this year! I make 14.46/ hr I can even barely support myself out here alone. I would really like these people with AIG to try and live on this salary and go without cost of living raises and even your hard earned yearly raises and without 100k bonuses! Do you think most of them would be able to survive? I worry every day that I am going to lose my job. Most of he companies out here are bringing in companies that tell them where they should cut things where they can save money. I am one of those people that live apycheck to paycheck. If I were to lose my job today I honestly can say I would lose EVERYTHING! I would be living on the street.

Rick, are you serious? 165 Million would begin to cover the re-hiring of all the employee's AIG let go in the US.... How about a reinvestment in itself?

JOhn
white plains

Can someone please tell me how it is that most of the rage is focused on the AIG bonuses and not on the fact that we are pouring billions into a company being run by the very people who ran it into the ground in the first place, and who decided to pay out those bonuses?
Is it not absurd to invest billions of dollars of taxpayer’s hard-earned money to “save” a company whose executives/employers continue to display outrageous, indefensible, greed-driven judgement?
The very people who are handing out these bonuses are the very ones the government is trusting billions of OUR money to!

Why is it necessary to hire someone and promise them a bonus. There are many people out there making 50-70K a year that would jump at the chance to work for AIG making 100K a year with no bonus. And trust me they can do the job as good or better than the ones receiving bonuses.

why doesn't the govt. demand AIG return all of the bail-out and let the chips fall where they will?

Your last guest from Forbes just said it. There is a lot of funny business going on at AIG including the cash payouts to foreign entities. Yes, that money could have been put into escrow. AIG is going to collapse, and the insiders know it. The execs are bailing with their bonuses, and the company is funneling money to foreign sources as well as GOLDMAN-SACHS. Robert Lenzier is right.

If I were Liddy I would tell these morons to stick it where the sun don't shine. We called this man out of retirement to basically save the world and do it for $1.00. I assure you that the ones who should be grilled are all governmental officials who in fact got us into this mess. The American people are aiming the gun at the wrong person or persons. It's time for a revolution...

Did Chris Dodd not write out of the contract that AIG employees could not receive their bonuses? Maybe those in Congress should give their salaries back since they have let Fannie Mae and Freddie Mac fall through the cracks!

If I remember right, the Stimulus package of 09/08 did not put any limitations on how the money was to be used and provided for no oversight in its use. It was critical that it get passed as fast as humanly possible, so no one thought about what was actually going to happen once it was enacted. Typical Washington act now, react later.

Are all you gus kidding?

The guys or gals who received these bonuses were promised this as part of their compensation. It is not their fault that the managers at AIG chose the wrong strategies. They carried out the work and deserve to be paid as promised....unless AIG declares bankruptcy!!

We can't just change the system becuase this happens to be talked about on TV.

Annette Arbel

I have a stomach ache, how many millions are sick over this, we do healthcare provided by the government who is also responiable for sick americans

Hey Rick.
Although the bonuses paid to AIG is wrong, lets lay the faulty exactly where is belongs. At the feet of the congressmen and senators that allowed the Bush Administration to dereulate everything.

SEEMS TO ME ITS JUST A LOT OF RICH FOLKS DONOT HAVE A CLUE OF WHAT REAL LIFE IS ABOUT. IF YOU HAVE NOT BEEN THERE HOW COULD YOU. I HAVE WORKED HARD ALL OF MY 52 YEARS OF MY LIFE.MY PARENTS GRANDPARENTS STRUGGLED EVERYDAY OF THEIR LIVES. ITS A SHAME RICH JUST KEPT GETTING RICHER. THEY PASS ALL THAT ON TO THE NEXT GENERATION.

Rick..One tenth of one percent isn't much when you're only talking $100, but we're talking that percentage of $170 billion. By focusing on the pecentages you trivialize both the problem and the crime. These are the guys who crashed our entire economy and most of Europe's as well. They don't deserve anything but a pink slip and a stripped uniform. That's what we're mad about – the principle of the thing.

The AIG executives need to walk a mile in my shoes and so many others who does not have a job, insurance and trying to live off of approx. $229 a week in unemployment. These people are selfish and arrogant. I am certain that these executives are not in foreclosure or trying to decide on what bill to pay this week. Too many people are struggling hoping for a breakthrough. The people who should be interviewing the executives that received bonuses, are the american people.

Rick, you are one of the best for give and take in realtime. Could you and a guest PLEASE talk about Paulsen and his complicity in this AIG mess. Paulsen should be called back to testify and testify IN FULL.

I wonder why these execs, who are "working" to save AIG, and as Libby would have us believe, the entire country, maybe the world, aren't "doing their duty to our nation" by working for $1.
Think of the sacrifice our military make when the world is in trouble. Think of the money these execs are pocketing when the world is in trouble.
It is disingenuous to imply they have our nation's interest at heart. If AIG execs cared at all, they would provide their expertise for free.

Rick, here is some good news:
Breaking News from ABCNEWS.com:

AIG CEO Says He Has Asked Executives to Return Their Bonuses [1:44 p.m. ET]

Also, how about asking the Pres, VP, Presidential candidates and Congress to return to US Treasury (taxpayers) ALL the money that AIG and other troubled Bail-Out banks, companies and auto mfg., car unions gave them in past several years? That should be a big boost to USA and maybe a lesson in ethics to politicians.......... yes, I am a dreamer.

Liddy should be commended to his attitude to protect the persons and their families that got part of the 165 million. However why is the media not talking about the stimlus bill that passed with only three republicans supporting it helped keep this bonus. Where is the media and not reporting the taxpayer money that was lent to AIG that went overseas? Where is the Obama administration in this regard?

wheres the jury, we own 80% we should decide what to do with them. LETS have a vote on aig. cause the president and the admin. whatever choice they make wont be good. bad if you help them again, and bad if you dont! obama is too late for america...weve been BUSHED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

$165,000,000 may not seem like alot of money when you look at the whole stimulus to AIG but to those of us on fixed income it's one heck of alot of money.

why don't you reveal the fact that congress changed the bill to all bonuses could not be touch. Dood is the one who sponsored the change.

Once all of the strutting, chastizing, and self-rightous verbal indignation has been exercised by our "powerful congressional representatives" in their questioning of Mr. Liddy, it will still be business as usual ....... nothing will change ........the rich will continue to get richer and the rest of us will be expected to continue to see that they do ..... with every taxable cent being torn from our already near empty, lint-filled pockets! Ahhhhh ......such is the American Way!

Rick, I was opposed to the TARPS and all funds to AIG&the Big Three, but if I could hire someone it would be Mr Liddy, and I would fire the majority of panel members interviewing him. They do not listen......They are performing ....I am so dissappointed in our House of Reps....

Please read the bill PASSED BY CONGRESS that ALLOWED the bonuses and instead called for the capping of CEO pay. Why don't you report that it is Congress' fault that these bonuses were allowed, and not AIG's or Liddy's?

It looks like a bunch of senators are grilling the team that is saving the situation into working for free out a sense of nationalism. What's the big deal about these guys getting paid. they are fixing the problem, they didn't do the damage. they agreed to do a nasty job, they did it, and they should be paid according to the agreement.

Why hasn't anyone talked about the Fed knowing about bonuses being returned (per Liddy)and the Fed not forwarding info to Treasury or the President? The illegal Fed will be the downfall of us yet. They act and maybe believe they are above it all. They print our money and then charge us to use it. What a racket!!
Abe
White Bluff, TN

If the names are released, and the people are worried about death threats, doesnt that show that money is more important than their families. People wouldn't go after them if they give the money back. Pretty simple huh?

Rick,

I don't know why we are propping up AIG and these greedy bankers, who have made tons of money the last four years, and could survive in this economy but neglect all those low paying employees at Circuit City, Linen'N Things, and other retail places, who are going to have a very tough time making ends meet, not having made these kind of bonuses in the past 4 years of hard work.

Also if the way to recover money is by taxing them, then they should be taxed 200% or 300% of their bonuses, which sets an example for others out there. Reminds me of black-marketeers profiting while a war is on, Nobody in the current climate should be handed a bonus!!!

These sanctimonious politicians grilling Liddy are unbelievable. First, courtesy of Sen Dodd they specifically add a measure to the stimulus bill that allows these bonuses to be paid and then they have the nerve to act surprised and outraged that the bonuses are paid. The only patriot in the hearing room was Liddy who is doing this thankless job for a sum total of $1. Make no mistake, the bonuses are outrageous but maybe these politicians should have read their own bill before they passed it. Disgusting!

IF I WAS WORKING FOR $1/YR AT THE REQUEST OF THE U.S. GOVT, & HAD TO TAKE THE ABUSE THAT WAS HANDED OUT TODAY I WOULD "TAKE MY BALL & BAT" & GO HOME, & SAY YOU SEEM TO HAVE ALL THE ANSWERS, "YOU HANDLE IT."

when will we stop drinking the kool aid? Congress is at 100% fault for the bonuses to go out! If they would have read the stimulus package they forced through, they would have been able to stop these bonuses.. Thanks Chris Dodd (D)

Jeez, Mr. Lidy is just trying to resolve this mess and all the ELECTED idiots are like a broken record. In the BIG picture the payment of these retention payments that are paid 'AFTER' their Jobs WERE done. A $165 million payment to keep the orderly closure of these toxic books of business and keep the possibility of AIG paying back the $80 Billion seems like a amazingly simple trade-off.

And since these guys are bent on trying to SAVE Tax payer money, why don't they make it known that every Congressmen and Senator receives their salary & benefits for life! If they are so concerned about government spending & tax payer money then perhaps after their terms are over they should refuse their 'lifetime' salaries.

It's ironic to see lawmakers today, especially Republican ones, who just recently alarmingly warned us about "socialist" Obama with his socialist methods of ruling the national economy – raising their voices in demand of punishment to those who followed contracts at AIG. Those were bad contracts, in the hindsight, no doubt about this.

But doesn't breaking these contracts amount to a descent into the extrajudicial rule? Doesn't this contradict the whole basis on which the Western democracy is built?

Double standards are always bad, no matter what the intentions are.

I've been watching the Liddy deposition. I have only a couple of quick comments.

1.I appreciate Liddy being at the helm.
2. So many are ready to recall/fire the current Secretary of the Treasury. Where was Polson? (not sure of spellling). I had a much tougher time understanding him and, for me, he was as arrogant as the AIG self-absorbed, greedy executives and other financial institutions that put us in this mess.
3. Glad I'm not from Massachusetts, Lynch even embarrassed me
with his behavior.
4. Would also like when these top executives from all of the "busted" businesses sold their stock options – at prime or ???

I have read some of these remarks and I see wanting to put blame on the Bush administration when it started back in 1994 ...so who was in office at that time.
Then I see greed by poor people, also. They want the money that the rich make. If you have the brains, ability , and fortitude to put in the hours go for it. You too will be rich. Smart people will find a way to make their fortune.

Nonsense!!

The arrogance of Liddy to sit there and even try to justify this crap. This in an outrage! AIG CEO's are now claiming that the did not see this coming? Then why did they accept bail out funds from the Government? And why aren't more of the CEO's sitting there answering questions?

Bottom line......things are bad and getting worse. So what if AIG goes bankrupt? So what if other greedy mismanaged corporate entities go under? Lets help the small businesses, legit businesses and corporations that are running efficiently.

As to the amount being miniscule?? How far would that money go to help people who don't even have a house to live in due to hurricane Katrina? I hope the American people join in one voice to end this type of travesty.

andy

Andy Phillips
918-232-2785

since we, the taxpayers, now own 80% of A.I.G. we should hold a special meeting of the board of directors to elect a new board and and start cleaning house from the top down.

The AIG bonus scandal is to divert the publics attention away from the fact that billions of taxpayers dollars were funneled to foreign banks. I believe around 62 billion was the figure. Barney Frank and Chris Dodd strike again!

These A.I.G bonuses seem to be tied in with retention fees. Can someone please explain to me in layman's terms what the hell a retention fee is and how it is warranted.
I recently had a small business insured with A.I.G. It expired in August 2008. I told my agent I was shutting my business down in October 2008. The agent said I could do that, no problem. So the contract was for one year and when I canceled my insurance in October I was shocked to receive a bill for over $500.00 in retention fees to be paid immediately. I felt this was not clearly explained to me by my agent and when I was deferred to other people at AI.G for an explanation I got even more confused. If I ever need business insurance again it won't be with A.I.G and I will ask about retention fees. To sum up, there are to many big company's making huge amounts of money off the backs of hard working people.

Rick,
Why are we continuing to focus on events that have already occurred, rather than taking any measures to make sure that these problems don't happen over and over again. Until now, I haven't seen any change in regulation to prevent this kind of financial meltdown from happening over or continuing.
Similarly, with regard to AIG, is the problem simply that our politicians are not businessmen? When companies are bought, they do not keep the minority share-holding management team in place. People who don't perform are replaced or fired. Wouldn't you want a new management team in place to make the changes necessary? In this case, we don't even see an independent company in an advisory role i.e. Solomon Smith Barney, etc.
Is there really nobody in in a decision making role except the AIG executives and management team???

Thank you, for exposing the corporate boondoggle of boards of directors. If you look further, you will find incestuous connections between these board members and all sorts of hidden, interested parties. AIG is going down, and we the taxpayers, will be the last to know. The execs have siphoned off all that they can, and "invested" money in foreign banks and entities. Liddy is inconsequential - a pawn with no power. The corporation is run in spite of him.

I have been watching the Finance Committe hearing all day and am appalled. Mr Franks and others continue to demonstrate a complete lack of understanding of any business topic and as usual are using this forum for political self promotion rather than accomplishing anything productive relative to the current and future status of AIG and the taxpayer's investment. Obviously those who do understand appreciate Mr Liddy's position as evidenced by the market reaction throughout the day. If there is suspicion of criminal activities there should be an investigation by the AG. Aside from that, the focus should be on oversight from an appointed board not the congressional "monkeys" who can't even discern the difference between performance and retention bonuses. By the way shareholders, ie taxpayers elect board members. This is where the focus should be, installing a BOD that will create accountability and understand the mechanics of business...not political cronies of the administration!

AIG also needs to look at 1099 contractors as these people are often paid project completion bonuses and these go undetected as these people are not employees. I bet there is more than 165 million bonuses that were paid out.

Rick,AIG has gone from .44 cents to 135 or something I'm homeless and have been dieing to spend just 100.00 at .44 cents,I could have made enough for a room for the night.

There are hundreds of others who need the money and are able to do their jobs. If it was any other job, they would be fired and replaced!

Hey Guys...where is your coverage of the fact that our congress removed the very statement in the bailaout in billions to AIG tht would limit bonuses...come on...I am a avid viewer but you are leaving a very very important part off the news cast....they did it...you are not reporting.. check it out...

Rick,
As a former CEO of an automotive supplier, it is inconceivable to hear CEO's justifying bonuses for incompetence! It sounds like the incompetence starts at the very top and why would they want to worry about retention of the employes (experts) that took them down? Let's face it, where would they go? No company would want to hire incompetence, that is, if their resume was not a fraud also.

Another comment. Some are trying to involve Obama. Bush was AWOL in fulfulling his obligation as President from about Aug. 2008 until Jan. 20th 2009. He was totally silent as this economic crisis kept getting worse...with foreclosures and banks not lending and Treasury Sec'y Paulsen going to congress begging for $700 billion with no strings attached or questions allowed. Had Paulsen been totally honest in his assessment. AIG should have gone into chapter 11.

Rick we all know where you stand but to we the people $168,000,000.000 is a lot of money.
In addition it is representative of what Wall Street is, "fraud".
It is the one to six million dollars paid out to the scam artists that got AIG into this mess that are being paid off.
I am a small builders of luxury homes in South Florida. We have always tried to do the right thing.
I don't see us being bailed out or any of my competition being bailed out.
$160,000,000.00 would stave of bankruptsy for most of the small builders in South Florida.
IT IS A LOT OF MONEY

Rick, Liddy is holding his own just fine as far as I can see.
It is my understanding that the retention bonus have nothing to do with the traders whom "sunk the ship" but are to keep other upper level people that are deemed necessary to help refloat or stabilize the business.
I would be willing to bet that the members of the panel screaming the loudest are the same Congressmen that vote themselves raises every year while spending minimal time in Washington. Now that's an outrage considering the pork and low achievement levels they seem to produce. It's too bad they do not put this much interest into some of the other issues facing this country.

The louder the congressmen scream; the more I wonder what they are hiding. That maybe, the people will blame them, not AIG, for wasting our money.

It is quite hypocrytical for members of Congress to be chastizing anyone for self-regulating/self-compensating themselves at the expense of the tax-payer. This is the exact same thing they have been doing for forever.

I believe this financial crisis hinges on two problems: corporate financial abuse and floating credit to people who should not have had any. The corporate financial abuse problems stems from bloated salaries, high bonuses, and other related abuse (such as expensive trips, etc.). The credit problem stems from previous laws and corporate habits where people who either couldn't afford houses/goods were offered credit that they couldn't pay back or managed to over extend themselves (housing act of 94???). These two problems coupled together created this financial environment where these companies either needed massive bailout packages to remain solvent or went out of business. Knowing that these problems exist, the Congress still passed a $700 billion bailout bill without oversight and management and without mandating curtailing of certain known corporate issues. If you don't fix the root causal problems, the American public will be out $700 billion dollars, these companies will collapse, and our financial system will be in ruins. These AIG bonuses hinged on contractual issues (contract law being what it is). My understanding is that the stimulus bill was not publicly released or negotiated. The provision to curtail the contractual bonuses was stricken from the bill. Congress KNEW about this and now appear to be up in arms over it. If they didn't know about it, then they are not doing their job in representing us as Americans.
In my own humble opinion, of course..........

Does anyone else remember "what's good for big business is good for America"? This was the mantra after the conseratives won elections in 1994, etc. The message to the government agencies was business is honest and want to do the right thing. The message from Congress to the enforcement and regulatory agencies was: "hands off"! Congress knowingly told businesses in this country "you're so honest you may do anything you want." The taxpayers are now paying the price. What is so discusting is that some of the loudest critics are the very ones who encouraged the greed and feeling of entitlement being dispayed by corporate exectives. This economic mess is our own fault – we elected the President and Congressional leaders who started it all.

How are these congressman bashing this man they cant even run their own house, trillions in debt and they dont shy away from giving themselves raises as they please when they are doing a horrible job!!

AIG CEO is testifyig on the Hill now, he said they have told executives to return the fat bonuses after the outrage!!! Disgusting!!! Why are they in this position to ask for bonuses back?? Why oh why did they get in this position, why did they pay these bonuses last Saturday, did they not think they were doing something stupid, did they think the public would not get mad!!! DISGUSTING. How many times have you received a bonus when your company did not a profit? Not when your company LOST!!! It is normal to receive nothing when you screw up. enough of this stupidity PLEASE!!!

Rick, What's the difference between the AIG execs determining their own compensation and bonus packages; and our Congressmen & women, who virtually write their own ticket. I'd sure like a multimillion dollar, lifetime pension package, after 4 years of work. What is Barney Frank's salary up to these days?

Who let one company get so big that its failure would threaten the worlds financial markets? I thought we had laws against monopoiies?

those people at aig don't care what happens to us little guys, as long as their pockets are line with our money.

AIG has an Intrnal Audit Department, why has no one asked for the Internal Audit Department's reports to the Board of Director's concerning the risks of the fiancial products group and the risk in the so called retention bonus contracts? In my opinion, our financial institutions are in jeopardy because these Audit Depts are incompetent and have not done theeir jobs! I can also smell alot of fraud in these financial institutions and their bribe taking regulators!

Rick love your hour. It is not just the regulations that were overlooked or ignored Many companies were invested in by other countries and by companies in funds etc ...because of their ratings. Where were the rating companies such as Moodys or Standard & Poors we were always told that if a business/ corporation was rated AAA they were save and good companies to purchase insurance or invest in.

I say if they don't want to give our money back then have the IRS audit each and every one of them and go back as many years as they can. I'm sure they will find a lot of hidden and unclaimed assets and penalize and or prosecute them to the fullest.

hey rick, aig is not paying bonuses.its hush money paid to those who have been deposing of the dirt...with the dems.on the left wanting to take care of everyone,motherland.the republicans on the right wanting to tell everyone what to do.fatherland.where is the third party who will return the land of liberty! where fairness,justice and the free market are the american dream.......

The veil is finally being pulled away and the American people are getting lessons in both economics 101, politics 101, and wallstreet 101 all at the same time. It is now clear how the rich got richer and the poor got poorer. The rules allowed the fat cats to protect their bonuses while literally "screwing" the American people. While jobs were moved off shore and the Republican-controlled Congress was fighting to keep the minimun wage lower, bonuses were being paid and continues to be paid. The fat cats on wallstreet racked up massive paper wealth. They are now angry that the President and the Democrat-controlled Congress are not focused like a laser on wallstreet, but instead are focused on getting main street working. What a refreshing breath of fresh air for the masses. I hope the public does not get hoodwinked again into believing that the current adminstration is incompetent and not working for them. They are!

Well, Lorraine:
It was the Clinton Administration and Greenspan who initially allowed Deregulation of these companies without oversight.
I am a Democrat and I am mad at the Democrats as well as the Republicans who are all greedy to some extent.
It was the Democrats who wanted everyone to be able to own a house; whether they could afford one or not, that got us into this troubled mortgage crisis.

Who let one company get so big that its failure would threaten the world's financial markets? I thought we had laws against monopolies?

I find the bonuses paid out by AIG to some of its senior executives to be absolutely reprehensible, incredible, and inexcusable. How can anyone reward such people for decisions and actions that virtually brought about the collapse of this company? Think about it for a moment: Where would AIG have gotten the money to pay these bonuses had the company gone under before being rescued by the American taxpayers? We need another (economic and financial) revolution in this country to bring the CEOs of these large corporations to their senses. They simply don't get it!

Libby has asked the 100K+ recipients to return at least half? How about TELLING them to return all of it. I want my $0.50 share back.

If they refuse to return the money the solution is simple. We take a lesson from the Bush administration, call them enemy combatants and put them in a dark hole for the rest of their lives.

I say let AIG Tank!!!! billions of dollars sent to other countries of our money and to help other countries screw big companies an help the American Worker who in the end has to pay for everything. I think the big picture and the best way to resolve is let AIG go. They blew their own money an we the people are paying for it. Guess it's ok to screw up and still make money. All that money these companies got hell they could have an should have just paid everyone's mortgage off then people would still be in their homes have money to boost the economy and we would be thriving right now. Instead of helping all the rich people who make more money than you could imagine in a year then we probably make in our lifetime. The Hell with them and their company.

WHY don't you report that Senator Obama received over $100,000 from AIG and Senator Dodd received over $200,000? I so blame the media.

the people would like to 'know' the names of these 'clever' people. let the names fall and out them.

Can I have insurance for my insurance company?

Accountability? Two weeks ago a man wrote to Dear Abbey, asking how to deal with lying to people on line about himself. EVEN DEAR ABBEY said "You won't be the first one to "fudge" on your self description. Go Ahead and have fun with your deception. I was appauled. Our ability to be responsible has gone down the tubes.

Dave Bricker 3:42 p.m ET
Right On the Mark. I could not have said it better.

A.I.G. haters/Obama voters: can't see the forrest for the trees. 165 million to A.I.G. is nothing compaired to $109,620,000 tax payers pay annually to a Socialist/Progressive Congress that continues to steal our money and stomp on our Constitution.

If the people who took the bonuses,, give it back, then they would not be in any danger. Just proving if they dont give it back, then the money is more important than their families or their own safety. GREED!

IT SEEMS TO ME THAT THERE WAS SOMETHING WRONG WITH THE WAY THE CONTRACTS WERE WRITTEN.THE WORD BONUS MEANS PAY FOR PERFORMACE (PROFITS). WE SHOULD BE LOOKING TO PROSECUTE THESE PEOPLE WHO ARE BASICALLY CROOKS IE BERNIE MADOFF'S OF OUR WORLD. LETS GET SERIOUS WE NEED CLEAR STANDARD LEGISTRATION, AND NOT 200 TO 2000 PAGES OF CRAP.

This hearing is a phony attempt to showcase fabricated anger by our congress people. The language in the "stimulus" bill that would have stopped these bonuses from being paid was stripped from the legislation in the dark of night behind closed doors last month and then of course not read by our leaders. The responsiblity is not with Mr. Liddy, it is squa.rely in the laps of all congress people who voted for this bill, the Presdient and the Treasury. AIG is the Trojan Horse.

Who knew it and when did they know it?? FIND OUT MEDIA !! THAT'S YOUR JOB !!

Thats so funny, Dodd forgets. Lie Detector Test!

I kept asking myself why would Chairman/CEO Liddy give up what ever job he had to take a job at AIG for $1.00 a year. I knew there was something big being kept quiet there. Imagine he is or rather was on the Board of Directors of AIG, got his big bonus or what ever he choses to call it. He can afford to work for $1.00. He knows all the dirty secrets and he will die with them. He isnt going to willingly give up names or anything else of substance. The senators and President made a booboo. LET THE SHIP SINK!! Rick thanks to you and your special investigator you just had on your show.

If every American wants to know the real truth about this AIG scandal, we need to find out which politicians are really the “wizards behind the curtain”. You can start with The Federal Reserve (who was at the meetings with AIG) and follow up with the list of politicians behind the closed door meetings. The doors were close for a reason.

RICK PLEASE DO A PIECE ON WHO EXACTLY ARE THE MEMBERS OF THE FEDERAL RESERVE. The Federal Reserve is NOT a gov't agency. Don't let the word "Federal" fool us any longer.

The Federal Reserve is a PRIVATE COMPANY MADE UP OF WORLD BANKERS. It is privately owned, not an arm of the US government.
Find out why the USA is in the mess it is. Here is a document from 1995!
The Fed and Financial Stability of the U.S. Government
From the Congressional Record 1/31/95

Where was the regulation? Where were you the past two years? Didn't you hear John McCain? We do NOT need regulation. He and people like him made it possible for this stuff to happen. AIG is only the tip of the iceberg. We are lucky that China isn't calling in their markers or the whole country would be in the same shape that AIG is in.

maybe congress should have thought twice about taking out the no bonus clause in december...which they did behind closed doors .....now they are all show boating and acting outraged over the bonuses!!!! what a joke and a waste of time and again ....our money.....dems. or reps.....equals corrupt!!!

Seems to me like the Fed are the ones pulling the strings behind this and everything is going according to plan our economy will fail and we will be forced into dire measures and create a union with other countries (Canada & Mexico) to exploit their resources and re-establish ourselves as an economic superpower again!

Need to quit recycling American's "outrage" and work on uncovering and reporting new facts. No doubt economy is in pre-depression state and things aren't good for any of us, but those ignorant enough to propose death threats should really take time to educate themselves! AIG is a big player in the world's economy and has made many mistakes, but the same thing that has lead to their downfall is the root of capitalism as we know it! Simply defined as risk and reward. We can be as angry as we want at CEO getting bonus money and making millions when we are losing our jobs, but HOW ABOUT holding some of these grandstanding politicians accountable?! WHY don't we begin to express our frustrations on the preformance of our elected officials. All of the supposed oversight, all of the laws written that make all of this possible began in the Clinton years and continued through Bush's terms. Big cooperations and bigger banks, easy loans, big risks, and huge tax loopholes are what is to blame- not Capitalism!!

Lets start blaming the laws passed, lets start blaming the system we created and the sectors of government that allowed this to happen on their watch! Congress members can play all the politics they want in front of as many cameras as they can find, but who is going to know about or express "outrage" for the next campain contribution or the next extravagant dinner paid for by any number of well connected lobbyists that THEY happen to accept????!!!!!!!!!!!!!!

No wonder people cannot afford insurance! Look at their paychecks!

I'd like to know how much of a kickback Bush and Cheney got for even
thinking about a bailout.

Hi Rick, this is just the natural progression of unrestrained capitalism. As a computer consultant, I had close interaction with corporate management personnel and have identified some common personality traits. Most of them are greedy, power-mad, narrow-minded, and utterly unconcerned with the well-being of their employees, customers, or the long-term health of their business. They are only concerned with short-term corporate profits and how large they can grow their personal net worth. These people are scum!

Like they say cut your losses and walk away, it's basically putting good money after bad money. the book values had been over inflated, hence it would be better if we let everything crash and we start from scratch. This way things get done right

Where was the media in all this? I suspect that they were busy inventing weapons of mass destruction.....

Nobody cared when life was good – give them more $$$ . Where was congress then? Cashing their checks, that's where.

AIG actually thinks that if they do not give the bonuses to the contracted employees that they wil quit??? Where they gonna go to work after they quit, Madolf is in jail!!!

Where and Who are the 3 trusties appointed to watch over AIG? Why didn't Liddy know their names?

and

Liddy said Trillions of dollars off books .. where did these assets/debits go? Were there sweetheart deals? who is watching?

Rick,

A.I.G. doesn't deserve any money from the Taxpayers.
IF anyone deserves money ....THE TAXPAYERS .....
Why doesn't congressmen / women help the taxpayers
this will help the economy .

The ones who's getting leftout are the taxpayers .

Debbie

I am ashamed of the members of the committee that questioned Mr Liddy today. They did not seem like they did their homework or knew what they were talking about. Mr. Liddy was asked out of retirement by us to do his best to fix AIG. He is doing it. Get the facts right people.

My question is if no one admits to adding in that protection clause that was found in the contract, can congress not just remove it, and or deem it as VOID?

the fact that you can be paid a bonus even if the company does poorly makes want to sign up for that job.

They are all out for themselves-we have 16 units in our condo property-middle class-small-2 units went into foreclosure-well beyond their worth. We tried to get HSBC the mortgage holder to short sale the condo back for $100,000.00 (owed $170,000.00 but only worth $130,000.00). Their attorney all but laughed at us-a few months later they (the bank) hired a real estate agent to sell it for $66,000.00! When we complained as to what it would do to our property value they could care less-top it off-informed us that a sale had already been worked out with one of the mortgage owners parents-told us it was cash – never gave us a chance!!! Now we have to deal with Wacohvia on the last foreclosed one-they won't talk to us either! Bonnie O'Brien, Tampa, Fl

obama got about 100.000 in campaign $$$....from aig....dodd has gotten contrIbutions also from aig ,they all have....when will the people wake up and see it's not the rep.....it's not the dems....it's ALL OF THEM!!!!!

Hey,
AIG executives... you can’t give back your entire ‘bonus’ because then... you can’t make your mortgage payment?!!! Welcome to the club.

Yes, greed. More specifically: Republican greed. I bet you don't know that AIG's Liddy's friends are Paulson, Rumsfeld. In fact, it was Paulson who recommended Liddy for the job. The insurance industry is Republican and run by Republicans. Another example:
Ex-gov. Campbell (R-SC) was the CEO of the huge insurance association and lobbying group in D.C.

Rick, we have bunch of liars in Washington. What they have done to American Taxpayers is what we call 419 in Nigeria. This shows how powerful AIG 419ers can be, and how they can lord it over American taxpayers by lobbying (Bribery) Washington.

How does congress pass a bill and the Prtesident sign it into the law of the land and nobody knows what"s in it? This is how tyrants and dictators rise to power and your freedoms and liberty die!

Hey there is a silver lining to this AIG issue. I am feverishly working on a way to convert all this BS into fertilizer! And I am extremely close, HOWEVER I need to a grant or investors for finishing my research. I understand some of these AIG execs are a little flush with cash...Oh, and I am willing to fertize the "Great Mall" in DC at a discount if congress pays for it in advance...All profits left after MY bonus, Retention Plan and salary will be spread among the investors (if any!!!)
Truly ameteur hour back east!

I would like for the government and news people to stop telling me what a small amount $165 million is. $165 million is a LOT of money!

Rick,
We do not want to see a one world power nor do we want a one company power. AIG is greed at its finest. Is there any other company this big which might affect us later? No one wants to see
any more government regulations until this kind of thing happens.
Susan
Florida

THE CHICKENS HAVE COME HOME TO ROOST.....AND WE THE PEOPLE ARE PAYING FOR THE 1ST CLASS TRIP!!!!

I so agree with Joe Winn's comments! I also think that a lot of people out there needs to have their own business for one week before they make some comments.

Rick, please tell your viewers that Mr. Liddy is working for $1.00. He came on board to help untangle this complicated mess. I am just a housewife, but I understand that the products division of AIG that brought them down is very complicated and they can't just run down to the unemployment office and pick up temps to do the job of cleaning this up. Congress/Senate/White House left the provision in the bill to pay these bonuses. Legally they should have been paid but all will probably be sent back. I have been watching the "hearings". Our politicians are making me ashamed. They are redirecting our ire at Mr. Liddy personally, we should be looking at them. We need to calm the rhetoric down a little, this populism is scary. I have visited Cuba and we don't want to live like that. Let's be a little nicer!

Seems to me Rick that if the portfolio's held by the Cdo department were so complicated that only one person could manage it, then it must be beyond standard business practices. I mean how many ways are there to fly a jet? Can only a certain pilot fly a certain jet or it will crash. Maybe they are just so complicated that they are not legal. As to the retention bonuses, they cannot go against the fidicuary interests of the company and are therefore null and void. It was a poor decsion to retain these personal in the first place let alone with bonuses on top of it. Moreover what we are seeing here is a clash of culture's, open transparent government and private secretive enterprize. Liddy wants to extract AIG from these swaps as quietly as possible so as to not hurt the business and is using public money as if it they were private funds. The goal of the the government is to bring some fresh air to the market and get the mold out and instill faith in the finacial sector overall. The problem here is business has never been anything other than cut-throat competition and greed. The grey haird blue eyed grey suit Dr Welby sterotype is a fallacy, especially when it comes to wall street and banks which acquire wealth through the simple fact that they have only money to contribute to the production process they don't really make anything cars houses, anything, they only fund it and look at ways to shave as much out of that process as possible to keep for their own coffers.

Rick:

There is something about AIG I don't understand,

Insurance compnies can't go bankrupt but they can be siezed by their regulators. Theparent seems to be broke, but the big insurance units are ok. So why not sieze the insurance compnies and let the parent go broke? The answer seems to be the because of the default swaps. The massive insurance compnies which are so often quoted as the reason why AIG can't be allowed to go belly up are a red herring.

Another question on the "bonuses" is how can they be called bonuses if they are contractual. They are lump sum salaries.

Alex Scheitlin

Rick, I was intrigued with the Liddy hearing today, and actually feel bad for him that he had to feel so man stupid questions from politicians who don't do research. First, why Liddy would take this job for $1 and no upside is beyond me. There must be some kind of pot of gold at the end of his rainbow that we don't know about. Not even Mother Teresa was this good.
With that said, Liddy seems very honorable to me... and the fact that was missed by most of the idiots on the hill is that he did not create these contracts... he simply made the decision to honor them... and I truly do believe he weighed the alternative. The retention bonus was paid to people who stayed with a sinking ship through 2008... NOT for people to stay with the company beyond March 16.
Anyone who has been through a bankruptcy or part of a failing company that needs to be turned around knows that key people need to be paid to stick around to right the ship... Otherwise, they would leave to get a better paycheck elsewhere... leaving no one to bail that ship. It sounds like those that were paid retention bonuses did what they were asked to do. The job is not finished, but if they truly have sold 25% or more of these damaging loans, then they have made progress.
What many people don't understand is how AIGs debts are tied to so many other financial institutions, as Libby tried to explain today. If AIG fails... over 400 other institutions do as well. The current economy can't withstand that. If the people that were paid bonuses need another 4-8 months to sell off bad debt and save those other 400+ institutions, then the bonuses needed to be paid.
You can't just bring new people into this situation and expect them to get up to speed in two days to handle this type of situation, as some of the politicians wanted. You need people there that know the situation, have contacts to sell the bad debts/assets, and can help move things in the right direction.
Libby jumped into a bad situation, and it looks like he is taking the right steps... give him some room to sell off the bad parts of AIG and save the strong pieces of business (like the insurance products Libby spoke about) before an AIG failure disrupts this market even further.

i own my own small business and it's down 2/3 rds....and we now have no health ins.[can't afford it anymore]....and we get no unemployment checks to help make ends meet.....and we are in our 50s so there is no minor children at home...so we get no help....wheres my bailout?....and we don't want free health care we just want it affordable....get them regulated for a start!...

BravO Brendaj!!! I feel exactly like you do. "our politicians are making me ashamed" to watch them act like children blaming the wrong person.

yea brenda they should be blaming themselves...lol

I knew about retention bonuses in 2008 when Bush's lame duck administration doled out the first part of the bailout moneys from a blip article in the N.Y. Post which spilled the beans on a bailout bill with no oversight.No one in the media followed up on the story.No one raised a ruckus.Now I just heard that Olympia Snow and Ron Widen had submitted a bill to place oversight rules that would have prevented these retention pays from happening--but for the fact that the bill was later revised under Christopher Dodd's banking committee. Chris Dodd,it seems ,had received hefty political contributions from AIG. Key modifications and phrases were added into this bill that allowed this to happen, but the responsible parties under Dowd's committee are now ducking for cover and/or suffering from intentional amnesia on who drafted the changes. Is there any difference between these mysterious politicians whose modifications only served to weaken and remove the bill's power to oversight vs the mysterious elite executives who received these bonuses? The answer is NO. THEY ARE ALL COWARDS.

Hey Rick:
In following this whole banking regulation, mortgage mess, AIG issue, I can't believe all of these CEOs, Congress and House representatives have the nerve to have made statements about we, the american people made bad judgements when purchasing our homes, yet they are making all kinds of BAD JUDGMENT CALLS relative to being blackmailed by the Banks, AIG etc. regarding their BAD investments, Wall Street, bonuses etc. Sounds like to me, they are all lying to cover up a mess they were all involved. I have been in HR for 20 years and bonuses = positive performance, retention = you agree to stay whether the ship is sinking or not. The AIG CEO has a fudituary duty (corporate ethics) to do what is RIGHT. The excuse the contracts were written prior to him coming onboard does not fly. There are a lot of CEOs who come in behind their predecessors and clean up, fix and make right what the previous CEOs have messed up. This is what Liddy should have done. Contracts are made to be broken and in this situation, AIG should have told employees, "sorry, we just do not have the money to pay out these bonuses". If the employees did not like it, AIG should have said "sue us". I think AIG was going along with the bonuses, maybe because those employees would have started talking about unethical, unlawful practices within AIG. To fall back on the Connecticut Employment Law about employees can sue employers for twice the amount due;does not fly either. They should have taken their chances within the court system.
Now, as to the congressmen who do not know how the language got into the AIG contracts.....that they were supposedly reviewing in order to approve the TARP money AIG received dah.somebody knows something in Washington. Seems like AIG is a "turd" that is stinking more and more each day, that no one wants in their pocket. Seems like Bernie Madoff and Stanford aren't the only ones playing the PONZIE SCHEME.

I have to laugh that CNN did not put my comment in about them being bias.
No bias in that.....

I am outraged, outraged at the President, former and current, Senators and Representatives who have completely mismanged the financial crises. I don't think for a moment these elected officials thought these companies would use our money any better than they did their own money.

Big business CEO's, Officers, Directors and top executives have been busy lining their own pockets with quick profits for years, jumping ship to the next financial institution before the results of these quick profits.

No company is too big to fail! There are many solvent and financially stable companies the Federal Government could have helped to take over the operations of these failed companies and prevent a financial meltdown.

Hey Rick, for the life of me I can't figure out why Congress is so upset because someone was paid for failing, I mean, what the heck, the American taxpayer pays Congress for the same results.

Some of our Congressmen were such an embarrassment during the testimony of Mr Liddy, the AIG's CEO. They seem to not really understand what is going on. They are asking the same questions and trying to harass Mr. Liddy who has been doing a terrific job for the U.S.A. with no compensation. Those guys seem to be there just for posturing and little knowledge and understanding of the overall situation; a frighting bunch. It is hard to believe that those people are leading our country; no wonder that we are where we are! God, please protect us!

Who is protecting the AIG consumer?
I work for a medium size family (B2B) business who – like others – has been hit hard by the economic crisis >> seriously delayed revenues and customer bankruptcies. To add insult to injury – AIG has sent them an additional bill for their insurance – a 25% increase they did NOT expect and cannot pay without crippling consequences. AND AIG WANTS THE MONEY RIGHT NOW!
It looks as if AIG is not only putting the squeeze on the US GOV'T to pay employee bonuses, they are putting the squeeze on their customers – thus putting these companies in cash flow jeopardy.
The shame continues ...

Hey Rick,
Saw your program this pm.
Sorry to see that you have become the chief apologist for both the Democrtaic Party as well as AIG (bonuses).
Let's sttart with the Democratic Party. Were not Sen Dodd and Husein Obama one of the biggest recipents of AIG largess? WE these contribution made without any objectives of returns?
Here in the Province of Quebec where I lived elections a5re paid for through the public purse.
Why not in the States?
Your apologise for AIG and its chaairman were just sickening. Whether a chairman of the board for any company receives remuneration or not, his chief duty is the fudiciary responsibilities to his shareholders. Ever heard of that? Do you honestly believe that the chairman of AIG fulfilled that job? Guess not.
To get back to Chris Dodd, did he not inckude a clause in a bill passed by the Democratic Senate to place a loophole for bonuses that AIG fatcats received?
THen Timothy Geithner-was he not in charge of the Fed before he became Secretary of the Treasury. According to todays testimy on "the Hill" , he was present when the bonuses were discussed before they were paid. Oh yeah, old Tim was busy figuring out how to cheat on his income taxes.
Also there is a discrepancy in the dates that Hussein Obama became aware of it.
Is a Democratic (CNN) press maybe have some responsibilities in covering up those misdeeds?
Bet you are to chicken to answer all this.
"Old political junky"

Lost our college fund, lost my job....wtf??? I am tired of the talk... we want action. Love your show.....FYI...when we emailed Wells Fargo re: trip to vegas our credit card was lowered from 8500. limit to 1000.. This was an empty card and my husband and I have good credit. Wew do not get this. We follow athe rules we were taught and this is how it turns out?????? YIKES!!!! Thanks Rick for your show.

Teresa L. Cline

Rick, Talk about killing the messenger. Mr Liddy came out of retirement at the request of his government to try to help AIG. He didn't create or cause any of this mess. This selfless man has put his life and his family's at risk. If anyone talked to me like that congressman from Mass. did, I'd have told them to take this $1.00 a year job and shove it. Of course I don't agree with bonus's at this time. However, I now know what the retention bonus's were for and why some, who have now completed their work and left the company would still be eligable for them. . ( Most of the congressmen rudely trying to glean information from Mr. Liddy, obviously still don't get it. ) We who listened know why he felt he needed to pay them, after legal council and with the full knowledge of the fed chair and treasury sec. They gave what seems to me to be a very able man a job to do. Let him do it.

Congress is trashing our beloved country. What can we do to stop it?

Rick, Greed is the root cause of the global financial crisis. Greed extends to Wall St., CEOs of large corporations and their handpicked board of directors and CONGRESS. I agree with another blogger who suggests that the supposed best schools like Harvard, Yale, Princeton bear responsibility for not teaching ethics. I am also totally disgusted by Congress, who failed to read their own bailout bill, and then proceeded to grill Mr. Liddy by scrutinizing the AIG employee benefit contract. Mr. Liddy comes off as much more honest than these guys, many who asserted that they were lawyers. Congress should be working for $1 a year. That's what is fair!!! Cnn needs to start a campaign to publicly request Congress to work for a $1 until this mess is cleaned up !!!!!!

Was it Greed. Of course this is America, Land of the make a buck at all cost, regardless of harm

Just wanted to say I watch CNN EVERYDAY for my news coverage! Your show is always fascinating! The stories are terrific! Some make you sad or even very but nevertheless such is reality! That story about the Texas police officers robbing black people blew me away.......! An the sheriff in Alabama I believe that "might" have shot an killed that high school basketball star, "HORRIFYING!!!

SOLUTION FOR UNEMPLOYMENT
FOR ONLY 1/2 OF A TRILLION DOLLARS
BACK POCKET CHANGE
For only ½ of a trillion dollars, America could pay
ten million unemployed workers $50,000 each for a year.
This would solve the economic problem and would
cost a lot less than giving a few trillion dollars to (tfb).
It would be a good way to fund a Reserve-Retraining
Work Force which would solve the problems
of unemployment. Unemployed people ought to be
paid a good living wage while they go back to school.
jIM cARROLL INTERNETFREEPRESS.COM

If we dismiss this economic catastrophe as the result of the greedy acts of "individuals" in AIG and do not see those "individual acts" as excused, condoned, and applauded by high corporate culture, we miss the fact that this is a symptom of a wider systemic corruption of corporate culture. Have we forgotten MCI/WorldCom scandal?

Concerning the AIG retention bonuses, I asked myself why these executives would require a retention bonus. Is there really a threat that they will prematurely abandon their positions leaving AIG to fail? Knowing the potential consequences to the national economy if AIG should fail, how could these AIG executives possibly abandon the nation at this time of economic crisis? Have they no professional integrity and civic honor? Will not other corporations shun them as potential employees if they abandon their corporation and the nation? Perhaps this lack of honor is so pervasive in American corporate culture that these AIG executives will be welcomed elsewhere. Sad. No, tragic.

I agree, the greed from wall street and corporations has lead us to where we are today, put the power back into the people's hands and things will be put right. Those CEOs never think about the average joe when they're cashing their multi-million dollar bonuses.

It's 5:52 PM PST and I am happy to see

No Bull No Bias....FINALLY from the CNN family.

Congress and the Administration are responsible for throwing taxpayer money around like daddy gave it to them.
...now Detroit is weighing in on the unfairness of doling out taxpayer monies to AIG, but not the Auto industry.

Question is:
AIG gave a lot of that bailout monies to foreign institutions, it did not stay in America. Obama and Dobbs got over $100,000 from AIG in campaign money. Did GM give Obama less campaign money?

It looks to me that the folks in DC are stomping pi__ ants while the elephants are about to run us over. Jim

Stephen F. Hayes is well known for his writings postulating an operational relationship between Saddam Hussein's Iraq and the al-Qaeda terrorist organization. He wrote in one of his articles this sentence: "...there can no longer be any serious argument about whether Saddam Hussein's Iraq worked with Osama bin Laden and al Qaeda to plot against Americans."

Questions surrounding Hayes's journalistic credibility have been documented by Media Matters for America.

3 Nov 2008 CNN Names Stephen hays to be a regular political contributor

Sam Feist, CNN's political director said this,

Steve will help CNN in its commitment to go beyond political spin and present viewers with the most in-depth and bipartisan insights."

Stephen Hayes is the mother load of all spinners , soldiers died , family members lost loved once devastating their lives, young American children lost soldier mothers or fathers because of him and liars like him, who lied to the American public to gain support for the Iraq invasion, yet, his opinion gets respected by CNN and he gets rewarded a position on the best political team.

my question is:

Will CNN / Sam Feist accept partial responsibility for the death of all troops in the Iraq war and the suffering felt by families of the fallen soldiers?

Responsibility begins from with in, for Journalism sake, some times some thing must be worth more than money and ratings, perhaps even death to the troops, what you have to lose is trivial in comparison and credibility is a life long marathon, you don’t get the final result until you are dead.

You are Rick the only one who seems to be willing to accept responsibility when it is due.
To be fair , Jack Cafferty too, NO other exceptions, sad but true.

Please, at least please, make sure Rick gets to read this, thanks.

AIG & Congress:

Congress has quickly destroyed any oversight credibiltiy it may have had left. And I for one am ENTIRELY suspicious of any bipartisan effort on the part of the Republicans. If they're agreeing with Democrats, there has to be a Democrat mistake/greedy incident buried somewhere in the bill or project.

CRIMINAL!!! Organized crime at it's best! Everybody's on the take!(paulson\goldman sachs-dobbs\aig-franks\fannie may–etc, etc.) no heads will roll because all heads should roll! might see one sacrificial lamb and then business as usual.

Salting our wounds? just got a notice from Barclays stating the raise of overlimit ,late payment,and default fees and aprs. BECAUSE THEY CAN! They have to answer to no one! I do have the option to close account.(DONE) But what of those who can't?

Re: the issue of honoring the AIG contracts that set the groundwork for these controversial bonuses.

While I am not pretending to be a legal sage about contracts, it seems logical to assume that a contract has to be negotiated in good faith in order to sustain tests of its viability. If there were factions within AIG that were involved in acts of fraud and deception vis a vis these default credit swaps, wouldn't such fraudulent acts be capable of creating a condition that voids the entire contract?

Lawrence Summers stated this past Sunday that it would be impossible to trace how money from the government flows through a bank or an insurance company – he illustrated it by referencing a one dollar bill. This response appeared to be a "tap dance" answer in the manner and tone in which he presented it.

It seems that a large bulk of money coming in to a company could – and should – be deposited into a separate account with strict provisions for how every dollar goes somewhere. What could possibly be the difficulties in tracking how expenditures are allocated from a separated account? It's done all the time when grants are awarded; expenses must be tied in. The only difficulties that arise are when someone is being careless or deceptive.

Bush made so many mistakes now came to this situation and now this administration started with AIG bonuses ? as President says it is end of this kind of mistake or it is just start for this administration ?. You burned the hands in fire and applying cream on them ? In this the fire is AIG, The hands are of american people and Obama is applying some cream. Taking responsibility will not bring confidence in people. CNN was able to reveal how did this happened under Obama administration and who did it. Why President do not know ? why not explain to people how this happened and how this is going to stop ? what steps your took ?
If you can't manage I think CNN team can manage better and they proved it by investigating by putting their time and effort for people.

All Wall street execs, and those who are ex-execs, should go to mandatory school where they have to read Peter Scholtes' "Leaders Handbook", Alfie Kohn's "Punished by Rewards",
" Teamicide" by DeMarco and Lister.

The point is Edward Deming has demonstrated many reasons why systems( financial, manufacturing, services, schools... determine about 93-97 % what people can achieve.

Hence a broken financial system which rewards greed is destined to ruin the US.

So... the system needs fixing!

This week we have heard from former VP Cheney with his praise of Rush Limbaugh. We also heard from Rush himself describe how he considers citizens criticizing AIG bonouses are peasants (his words, not mine). I can see that these two would love to have social casting implemented here in the USA. This should raise your red flag as to whose interests have been watched over for the past 8 years.

Time for CNN and Rick to wake up and smell the coffee!

http://zfacts.com/p/461.html

Nation Debt (financed at 19%) now over $11.02 Trillion and growing at $5.9B a minute..... and y'all are worried about AIG? small potatoes Rick!

Hey Rick if this is too hot to handle plse pass to No Bias No Bull.

Why no outrage over fannie mae bonuses, they got bailout money also.

RIck:Chris Dodd admitted, after lying early yesterday while you were on your hunt, he was the one who incerted the clause in AIG's contract. I'm sorry you have it on tape and he LIED!! TIme for him to GO! 8 year, 1 time terms limits are the answer. Wasn't this the guy who got the most funding from AIG lobbyist? I kind of understand why he put the clause in now.

We are all pointing the finger...well we need to point it at our selves. I would like to give everyone some in site of this so called melt-down and AIG. First, I was a Area Construction Manager in Orlando..Everything was booming, Well the counties had a big finger in it. They told the inspectors to hold up on passing homes. Look for every tiny thing to hold up the homes. Why,well this created a higher demand and drove home prices up. For them this meant Higher tax and more money in the counties pockets..Second, Now everyone was getting Rich from County, Builder,Contractors,subcontractors Etc. Now everyone needed stuff, like trucks, homes tools etc. Take me...I needed a new truck..I went shopping Used first ..All overpriced..I then went to ford...Now I had no Past Cridet History..Not a very good past work History I had only been with this Company 1 Year. I did have $3000 cash to put down. The sales-Rep as we all know works on Commission so we was there all day while this guy did what ever he did to get me financed...Remember this happened everywhere from homes to cars Etc. Now a week later I got a letter saying I had a different finance company...I didn’t understand why but I do now. They sold the Loan to another Company. Anyway the bottom fell out I lost my job, My truck Etc. So what I'm Saying is we all need to blame ourselves. I take the blame for getting a loan I couldn’t afford, The sales-Rep should Blame his self for doing what ever he did just so he could get the commission..All the People who had homes built for investment..and what I mean by that is One person would have homes built for resale at higher Prices. I seen one guy who had 6 homes built in different places....Why would any Company Loan this guy Money to build this many Homes ..well he went to different Loan Companies and different builders and each time had exceptable amounts of money to put down on each one..and that was as far as everyone looked. CASH IN HAND...We are all to blame for this so stop Pointing the finger and Just try to not get so greedy next time..ALL OF US.

Chris Dodd is joke. He outright lied to the American public and then played the blame game. His lame excuse is like hearing a high school student claim 'peer pressure' made me get high! We don't accept excuses for our kids, they are held accountable for their own actions and choices and so shall Chris Dodd be. He or anyone 'cannot' be a leader of our wonderful country if they are so weak they cave in, knowing what they are doing is wrong?

If I am correct approx 175 million in bonuses went to roughly 100 people or less. The crisis some Americans are dealing with could be fixed with 1% of 1 bonus. I have listened to CNN story's of ordinary people doubling their domestic loads and giving away free professional services to thoes that are in need. I think the AIG Executives that refuse to aid this counrty in a time of need should be exposed. I want to know who they are. What makes them so much more valuable than the first grade teacher that is teaching one of our future presidents today. Expose them and their greed.

The only way to make a shadow disappear is to shine light on it.

Sen. Dodd has taken away any faith that Obama had rejuvenated
in my faith in our gov. and officials. They think they are above us and obviously don't care about the American people. To think that he could do this and then lie is disgraceful.

i think you should do an investigation on puerto rico's corrupt/monopoly Puerto Rico Power authority. They are over charging Puerto Rican residents while accepting billions right the federal government.

AIG executives should be brought out to the square and put in ' stocks and pillory'. Let the public decide their fate, like they did to the shareholders. Kids, can you spell....TREASON?

Does ANYONE understand what is going on here?! These types of TALKING HEADS are trying to DIVERT our attention away from the REAL problem, corruption within the ranks on Capitol Hill! AIG is just a diversion and a SMALL portion of the WASTED money from this bailout, this is no more than a MONEY LAUNDERING SCHEME cooked up by the biggest recipients of LOBBYIST dirty money from AIG, CHRIS DODD and BARACK OBAMA! WAKE UP AMERICA!

Rick, First you an LOTS of others@CNN YOULL GOOD! ON the Banks I am not sure of everthing going on in Wash. but one thing I have always wonderd why way back before George W. Bush became Govenor of Texas he was in on Bankrupting Banks in Laredo,Tex. Somehow all these years it has been kept quiet? On a lighter note I am 57years old.Can you loan me some money to go back to school or buy a new dictionary?HA!It seems I need to find out the differance between DENY @LIE! Our goverment must have a differant dictionary
! Tell Dana thanks!

We are being told by the failing financial institutions that, to keep them, they must give increases and bonuses to their executives and employees who helped them fail. Can you, please, tell me this. Truly, are there large financial institutions during this "crisis" that are so healthy that they need, and would hire, failed executives from the bailed-out institutions? I'm serious! This is unbelievable! Really, if there is something I am not understanding, please, tell me! Mr. Dee Lippincott (Age 79 – Retired aerospace computer systems engineer (31 Years) and school teacher 15 years).)

Hi Rick ~ thanks for a great show as usual...My comment: as a former Director in the Semiconductor Industry we had managment objectives. We did not receive a merit raise or bonus if we did not meet our objectives and stayed with budget guidelines. How can it be justifiable to give "retention" bonuses to the Fannie Mae or AIG when they have not met their agreed upon contractual conditions? They should not receive either a raise or bonus of any type. As a matter of fact if we were to miss our objectives twice in one year we would be looking for another job!

Rick...I think this would ahve been cheaper to give every tax apying american Million Dollars. That would ahve stimulated the economy.

Shouldn't we also be concerned about how much banks are paying foreign banks?

This just seems unconsciable to me that Senator Chris Dodd "deliberately" LIED and the treasury department....seems like they attempted to "cover up and lie"....and he does not fess up to the fact that he deliberately lied.....WHAT IS UP WITH THESE GUYS...THAT THEY ARE SO ARROGANT!

if their going to try and get bonuses back lets get the income taxes back from them too you know the ones that got the bailout money and still owe back taxes

Hi, Rick

Senator Dodd lied about not knowing who inserted the changes and 24 hours later, after being confronted and discovered, he admits being the person who modified the bill.

Then, he blames someone from treasury who pressured him but cannot remember who it was but seems to suggest the Democrats are behind the ploy. In addition, hefty donations from IAG have probably tied his hands

Has it been proven that the White house is involved at all?

Before blaming anyone from treasury, you should keep in mind that we are dealing with an unrepented lyer in Senator Dodd.

oh come on it's going to cost AIG the same amount to get out of their "contractural obligations" as the bonus itself 165 million dollars in legal fees do they think we're stupid? As for Liddys comments that they need those "retention" bonuses so those people that got the company in the fix it's in to stay and get them out of it (does that even make sense?) Where's the logic in any of this

I don't think they should have gotten anything. A bonus should be given for the hard work and profit brought into a company. The CEO of AIG should take responsibility for his actions in the company. If a business makes a bad business decision they should deal with it like any other business, SUCK IT UP!!!!!... Tax payers aren't AIG's Sugar Mommas or Sugar Daddies.....

I want to know why we are not ALL screaming for Congress and other govt. employees to cut their salarys!? I can remember in previous downturns when the Congress actually voted themselves raises..not annual "cost of living" raises, but true increases in salaries and benefits. No one else in the COUNTRY receives lifelong salaries and benefits like these jokers (and I mean that literally) do. They are posturing and sending up smoke screens so we don't think about what a waste of space they are right now!

Where was it reported yesterday? The Ukraine? A former Soviet Union country is having such a recession that the Govt. officials actually voted to cut their salaries in half!

Our officials can blame the Bush Whitehouse for what has happened for ever..but it was also a Democratic Congress, and still nothing is changing for the good!

I won't respect or believe they care one whit for the rest of the population until they address their own exorbitant salaries, benefits packages and freebees! Is this going to become the Soviet Union where only Govt. officials could shop in the Luxury dept. stores and drive limos and vacation in their country homes, while the rest of the country stood on lines for the bare basics like bread and meat!?

Ayn Rand is turning over in her grave..RIGHT NOW!

Everyone is trying to find one person to blame for the AIG bonus thing. Was this added to bill after it was voted on or was it there for everyone to see before it was voted on. Looks like those who voted for the bill is to blame for this mess. Did they not read what they were voting on?

I am a retired GM auto worker and Congress asked Gm to renegotiate their contract with the UAW inorder to be considered for more bailout money, BUT when they gave the money to AIG they didn't ask them to renegotiate their contract. NO they just gave them the money. WHY

If Congressmen could do the job Edward Liddy is doing they would not have the low approval rating that they have.

Go get um, Rick. I think our politicians have gone over the edge of reaasoning. It makes no difference who we vote in to office there is nothing done for the people. It is all for themselves and their buds. It is neccessary to establish an organized and useful 3 party system. The 2 parties we have now don't act for their constituents after they get office, it is the same ol' BS. America is going (if not already gone) down the tubes.

The politicians have joined the weathermen in that you can always tell when they are lying, "Their lips are moving"!

It's all about Greed,a profligate attitude. What happened to:Trust,honesty,hardwork, and delayed gratification. It's a shame that rule of law has to referee moral law. Gene

AIG’s CEO, Edward Liddy gave the appearance of a man who knew what he was doing. The Congressmen, playing to the TV voters back home, gave the appearance of incompetence we have come to expect from the Congress. Mr. Liddy is working for one dollar a year, but we are paying Congressmen an excellent salary. You would think they could know the difference between a “Performance Bonus” and a “Retention Bonus.” We should be glad to pay 165 million dollars to get back the forty billion bailout dollars. But, not one member of the Congressional Committee seems to think about this.

In corporate america, no one – NO ONE is indispensible. What would happen if one of these "Most Valuable Players" died? The answer is.... Business as Usual.

Rick, the various financial derivatives are very powerful tools and have played a huge role in helping the economy, but they are like ticking time bombs. When used outside of the financial assumptions underlying them they can, as we have seen, bring down the entire economy. They need to be regulated but not destroyed.

Rick,

The AIG whole financial issue is nothing more then a Ponsi issue. The paperwork might a bit more fancy but the underlying scheme is the same. Let AIG go and we as strong Americans will recover.

Bonus issue a smokescreen. Beloved fellow Americans straining at a gnat and swallowing a camel. Bernanke admitted on 60 minutes Sunday that he was the one who solely decided to bail AIG to begin with. Trillions tossed about is the fed simply "cranks up the computer" akin to printing money. Central bank warned against by founding fathers and is unconstitutional, though slid through congress in Wilson administration, who later regretted it. Federal Reserve Bank answers to neither Congress nor President per Greenspan and Bernanke. Dollar becoming worthless as more money printed. Americans are being enslaved by debt. The borrower is servant to the lender. Bernanke spoke of near "global (economic) meltdown". Are we being taxed for the whole world?

Rick: illusion vs reality:Pls. stop saying taxpayer's money.It's from them but the owner is Govt.It is humongous Casino;once you put your $$$ you only hope for a return. You can always change casino every 4 yrs.

Hey Rick,

Are the sanctimonious Republicans also looking into the amount of bonuses given when Mr. Bush handed out $ 350 Billion???
They sound soooo pure!!!!

TRAITERS:
Those CEO's, have done more damage to our country than dozens of 911's

Send them to Guantanamo bay and Dodd with them. And what's his name that stole the 50 billion dollars. (Old lady who can't remember names.)

Get past the anger of the bonuses. I don't have the details and apparently no one else does. Focus on the problems coming to light in Congress: a) not reading documents before passing them (2008 AND 2009), b) trying to pass legislation that violates the Consitution and c) trying to throw each other under the bus. It's not the fault of Democrats or Republicans but of politicians more concerned with re-election and popularity contests than the Constitution. Politicians should not be running businesses and frankly that's where a lot of this got started. Congress in each of the last several administrations -[dating back to even before Bush 43], have helped mess this up.

It is interesting how the media does not hold President Obama to the same scrutiny as former President Bush. If President Bush was still in office every single media outlet would be blaming him about the AIG bonuses!!!!! Again, President Obama gets a free pass.

What about Freddie Mac and Fannie May. I heard they got bailout money and are paying out huge bonuses. Same goes for Bank of America/Merril Lynch.

what is the difference between aig and mr madoff? anybody...

You spend 100% of your time on 1/10 of 1% of the money. Like a magician all of you are watching the wrong hand. What are they doing with the 179 billion left? Just like last week's earmarks, you are dealing with the crumbs!

Taxing targeted individuals retroactively is unconstitutional. No one likes the bonuses, but see this for what it is. A government orchestrated scandal to cover up something else. Where's the outrage for all the AIG money that has gone to foreign countries (100 BILLION). What about all the earmarks in the stimulous bill? Why isn't congress upset about that? Oh, that's right, as long is it's for thier cause, it's ok. Who's next? If the government doesn't like how much YOU make, can they come in and take your property? Looks like they can under this government. Wake up people, and listen to the real story.

WHY DOES THE NEWS MEDIA ALWAYS ASK THE SAME QUESTION: IS THERE MONEY AVAILABLE INSTEAD OF ASKING: ARE THERE
PEOPLE RESOURCES AND NATURAL RESOURCES AVAILABLE? MONEY CAN EASILY BE CREATED, ARTICLE 1, SECTION 8, OF
THE CONSTITUTION.
HOW CAN THE INTELLIGENTSIA OF AMERICA BE SO BLINDED that they cannot see that the Federal Government must have a money system that can create and maintain an equivalent ratio of money to the goods and services that its peoples’ hands and minds can produce? Nature’s Basic Law of Economics states: All goods and services flow from the action of people resources on natural resources— Money is the medium of exchange which should be equal to the value of the goods and services—and not to a gold standard or some other insane idea.
INFLATION IS A EUPHEMISM FOR THEFT. It will change the ratio of money to the goods and services being exchanged. MR. PRESIDENT, DON”T LET BIG OIL AND BIG BUSINESS RUN OVER YOU WITH A PRICE MARKER. They did it to President Carter. Jim Carroll internetfreepress.com

WE the American people are in TROUBLE... I think is it time to organize a tea party against BOTH parties.....what a shame is going on in Washington. Clean house...this AIG mess only shows the mess we are in. It is like cats watching the bird cage with the door open. Let AIG fail...they say our retirement would be in failure...? It already is... Then we learn too the FANNIE May execs... get a bonus too????come on Barney F....where is your voice in this.... Both parties are at fault as well as greedy corporations....

Rick- this AIG Bonus controversy bothers me for two reasons; 1, it says to me that not a single one of our lawmakers read the bill that they all voted on, and 2, I should have gone into politics because obviously ANYONE can do THAT job. Thanks

Rick, who is that HOT BRUNETTE behind you!!!!

I disagree that the bonuses are necessary-those folks are fortunate to have a job at all in their field while many are losing them. Perhaps we NEED some new blood in the upper level positions!

Congress should pass a law called the Anti-greed Act. The law should state that the total compensation for the highest paid employee of a company cannot excede one hundred times that of the lowest paid employee. The more the fat cats make, the more they would have to pay.

If AIG was contractually obligated to pay out "retention bonuses" and then the employees LEFT... are those employees then not in breach of contract and then required to pay the bonuses back? Doesn't the contract go both ways??!!

Hey Rick!,
Just wondering, If the employees are so great at AIG and are busting their butts to make sure we get paid back! Then why are they so afraid that they will walk if they don't get their bonus!! That's what Liddy is trying to stress right? Sounds like greed and Black Mail to me..Keep up the good work

I'm think for every million that we know goes out in bonuses, there is another 20 to 50 million that we don't know about.
What I need proved to me is that this recession was not instigated by the richest of he filthy rich just so they can get billions handed to them by the government.

Am I missing something? Liddy testified yesterday that (a) AIG-FP operated several distinct programs, (b) the losses occurred in the credit default swap program, (c) the execs responsible for that program (which was responsible for the AIG meltdown) are gone and have not received any payments, (d) the workers in the other programs were needed desparately to help wind down those extremely complex parts of the business, (e) if those people were to leave the results could have been catastrophic, and (f) those people received "retention bonuses" to stick around until their pieces of the program were wound down satisfactorily. Where's the beef? Would it have made sense if the "retention bonuses" were called "completion incentives" instead? And why do members of congress keep referring to these payments as "performance bonuses" and to these workers as the ones responsible for the meltdown? Both of those characterizations are false according to Liddy's testimony yesterday. Could it mean that members don't want to get in front of a fast moving train, even if its on the wrong track?

Rick,
I am no economic expert, but it seems quite obvious that our government is for sale to the highest bidder. Why won't anyone just admit it?

Lets take all these people from AIG that took the bonus's and place their pictures on milk cartens and billboards like dead beat dads... until they repay it all back !

Rick – Liddy, Gietner and Obamma obviously are telling us that 160 million was so insignificant and that it was so much more important to keep this "talent pool" of execs that it was better to try and keep it covered up from the American people and see if they could scoop it under the rug....first. Now that it's in the open Dodd has the audacity to bold face lie on camera, Frank has the audacity to blow slobbering indignant slurs at Liddy -- it's absolutely amazing what "low-lifes" we have in both the administration, congress and Wall Street. Dodd should go to jail for lying to the people – I think it's a lot worse than what Martha Stewart did. He should fall on his sword, Frank and Gietner should follow along with every senator and congressman that voted for bailouts and stimulus bills they haven't even read.

Our politicians are hypocrites, right to the very top. They give themselves raises, increase federal spending and vote to provide themselves "golden parachute" retirement plans and premium healthcare while ROME BURNS and its people suffer.

None of these BOZOS will ever have to stand in line to see a doctor. They only have to serve ONE TERM to receive Full Retirement Benefits and lifetime health care. Cap & Trade will raise EVERYONE's electric bill by an average of $1800 per year (5 room home) - ooops, there goes that middle class tax break of $800, and that's just Cap & Trade on electric, nevermind gasoline, propane, diesel, natural gas, jet fuel, heating oil, coal, etc.

HOW CAN ANYONE SERIOUSLY THINK THESE SAME PEOPLE WHO CAUSED COLLAPSE OF THE GLOBAL ECONOMY WITH AIG'S SALE OF CDO'S ARE NEEDED TO FIX THE COMPANY???

My guess is for $160 million we could replace those 78 lousy execs with 640 of the brightest Yale, Harvard, Dartmouth, MIT MBA's

I can't help but think that Congress and the Administration think the rest of us are just a bunch of inbred morons incapable of knowing what's best.

The banks and financial institutions couldn't have done all these things without the full cooperation of their co-conspirators in crime--The US congress!!

You should understand that we attorney's that work for Lobby Firms write these Bill Add-ons.Your politicians don't even read them, they just pick the submitted add ons which work with the Bill and give us what we want.The highest bidder with a re-election check gets the add on or if we are already "money in the bank" we are then first in line.If another lobbyist re-imburses our "balance of credit" he can submit a bigger check and he gets the add on.The Politician's office staff get rewarded to by pass the politician and give his approval with general knowledge to the politician.Dodd might not have known that he sold the law insert until he asked his office staff who did it.It's better to take the blame now then to admit that his influence is so loosely supervised.The add on in this case was " maybe "offered with 2m check to a shell off shore bank.

It's the way it's done every day that's why you get toxic dumps form the east coast into the west coast sleepy suburbs.

Good Luck

P.S A Bill of Retainer is un-constitutional

Rick: How many of the bailout AIG executives live in England and can' t be taxed

The time to have gone after these politicians was when all of these regulations were being broken. Then the implications should have been examined and then the donations should have been exposed all you are doing now is adding to our demoralization. Where was the press when we needed them?
Cheers,
RR

Rick the most saddist thing about this is , yes of course the money but more so the president of the U.S. lieing to the same people who voted him in office! Turns out everyone is lieing until even our so called leader Obana! Not president to me just another lier to get his way.

Rick, it goes without saying. Not only are our politicians greedy and gutless but we are looking at the CEOs and executives of Wall Street and Corporate America who are extremely greedy, unethical, shameless morons who should be tared and feathered and run out of town on a rail. There are no excuses for what they have done. What's worse, for them there is no payback. For us, Main Street America, we are losing our jobs, our pensions, our 401ks, our savings and our politicians still have to nerve to ask us to sacrafice! Tell me Rick, when will they get hit with payback? When do they start to sacrafice by cutting their salaries and benefits?

P.S Rick you know you know this already,why don't you play straight with your watchers!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I WANT MORE TRANSPARENCY!!! Show us those hotties working behind you, Rick!!! Jeez, all of you phony populist, personality-based "news" shows feigning outrage are lame. I am America. I want hotties now, or I will impose a 90% tax on you!!!

Rick:

Regarding the $5 billion paid in lobbying fees in the last ten years – follow the money trail. Those who, often times, complain the most receive huge campaign donations from the banking industry.

Larry Kurbatoff
Retired lobbyist

I knew this would happen.. well.. something like this anyways. Everytime we have a major disaster in this world there are people waiting in the wings to make a profit over it. Remember the Sri Lanka tsunami and all the fake websites for donations? Remember Katrina and the rip off scams that are still running there? I'm not shocked, I'm furious, but definately not shocked!!

RICK!
75% Of Latest Bank Of America Bailout WAS Used To
Pay Merrill Lynch EXECUTIVES Bonuses
WHY DID THE CONGRESS NOT INVESTIGATE THE 15+ BILLION PAID OUT IN BONUSES TO MERRILL LYNCH EXECUTIVE'S!!!!!!!!!!
WHY DO WE KEEP GETTING LIED TO?
DAVID
MOSS LANDING CA

Rick thanks for letting me know that the constitiution of the United States has been violated.....I hearby order the military that is sworn by oath to defend the constitution arrest the entire senate, congress, and the executive branch and I will take over as lord protector as Cromwell did in the 1600's and get the mess taken care of......I am pissed off beyond beleif and can affect the necessary changes needed to fix our government. Thank you so much Rick, Joint cheifs affect my orders arrest them for high treason...see if the French will lend us the gullotine.

Thanks,

Dan

Let's not forget that these AIG executives were contractually obligated to receive these bonuses. So, the way I see it, the gov't had two choices: agree to pay the bonuses, or spend additional money in court and legal expenses for breach of contract, which the executives would have won anyway. Tell me, which is the lesser of two evils? It may be unfortunate that bankers make as much money as they do, but the only solution at hand is to ensure that future contracts are not so outlandish.

Thank you.

Rick,
E believe there is a misconception about the AIG "retention" bonuses. If I remember correctly, sometime within the last few days, on CNN, it was explained that the contracts were signed in 2007. The bonuses were to be paid at the end of the contract (end of 2008). The "retention was not to retain the execs after the end of the contract but to retain them for the full length of the contract. Therefore there was nothing that the current administration could do to stop them. The execs carried out their agreed stay. I think I remember that there were also some clauses in that contract that excluded any condition on whether the execs did a good job or not, i.e. if AIG made any profit. Go back and check the contracts. If all this is true then we need to know who wrote the contracts in the first place to know whom to blame. I am as outraged as anyone, but we need to know whom to outraged about.

5 billion bought deregulation in congress. You say it started in 1998 implying the Clinton Admin. BUT at that time and since '94 CONGRESS had been REPUBLICAN CONTROLLED.

So the question remains open .....who specifically was to blame????

One more thing... why did Congress take their "bonuses" disguised as "cost of living increases"?? Shouldn't they be the first in line to decline something like that under THESE ECONOMIC CIRCUMSTANCES? Are you kidding me!!? And they are the one's drilling Mr. Liddy? I bet the thought ran through his mind about the raises they all took while he was sitting there the other day!

I might be one of the few people in the country who disagree with people over the outrage at AIG employees. While there may have been individuals who knowingly broke rules, the problem here was that these guys were doing exactly what every financial institution in the country was doing and exactly what you are taught to do by schools like Harvard and Wharton (my alma mater) etc. Most of these guys were just traders, trying to get as many customers as they could for what they understood to be safe financial instruments whose use was commonly accepted by the entire financial industry. After all it took a counterparty to agree to their use....the banks. The problem was not fraud or greed....at least not by the traders. The problem was essentially the catastrophic and unprecedented drop in value of the assets being used to back up the CDSs. Do you think any insurance company keeps a safe full of cash to pay everyone who they have covered. No, their money is invested in various assets. But suppose there was some huge mega storm that sent a tsunami over Manhattan, do you think the insurance companies could cover their obligations? Technically yes, but if 50% of the assets were expensive properties in downtown Manhattan, then I suspect the answer would be ..hell no.The problem here was that AIG not only had a financial tsunami to deal with, but in many cases the assets being used to back the CDS obligations were the very same mortgage based securities that they were supposed to be insuring. That is not the fault of the traders. That is the fault of AIG management and of congress for refusing, despite numerous attempts, to regulate this industry. This is a problem that can be so easily solved by regulation that I want to cry. The culprits at the root of this financial disaster are Republican members of congress who have systematically blocked any attempts to effectively regulate this industry.

rick thanks update on aig/gop. did obamma rec $100,000 end of 2008 for his bonus vote!!!????

168 MIL. FOR AIG– PEOPLE/CONGRESS ARE UPSET–WHAT ABOUT THE 1000 PORK BARREL ADD-ONS BY OUR ELECTED OFFICIALS ???? THEY ADD-UP TO BILLIONS !!!!!!!!!!!!

i have been against the bailouts from the beginning. these companies created this mess by overpaying themselves and taking very large bonuses, so now we are rewarding these companies? if you and i were in business do you think the government is going to bail us out after we sucked the company dry and run in into the ground. if this money had been given to the people i heard it would be about $9,300.00 people would have paid bills, bought cars, paid mortgages. this money would have been well spent and helped out the economy. the money that they have given to all these big companies is never going to trickle down and help out the average person, it is only going to help the rich people who created this mess. SO NOT FAIR!!!!!

I'm a vet, worked all my life, saved for retirement (down approx. 50% now), saved for my kids education and pay my bills. I guess I should have been a free loader not worked and let my kids fend for themselves! Maybe if I did this I could get some money from those suckers we call tax payers!!!!!!!!!!!!!!!

I cannot believe the 'Side show' that the Congress is trying to confuse us with. They knew this was going to happen and now the mock outrage is meant to convince us all that they had no idea this was happening.

Is the bill they passed even legal? Constitutional?

Stop giving the money to these companies that can't account for it or are wasiting it of bonuses they don't deserve. Give the money to the people that have to pay it back anyway. At least the people will spend it and the money will flow again. Divide the money among the tax paying people, that you were going to give to the AIG.
Wake up, we all need the money and we will spend it wisely, we will catch up on our house payments, pay off our credit cards and buy things.

Rick, Not much has changed from your days in Miami @WSVN. I thought you had progressed to just reporting the news but I was wrong. You have only honed your classic sense of drama on each sentence you spew. I'm astonished that CNN wants your obnoxious spin everything. You are a long way from your competition like NBC and ABC. Thank God I have a choice and can change the channel.
I do enjoy some of CNN's programing in spite of you. Try to show a little more class and tone it down. Just report the news!

Rick, How embarrasing for the GOP when you get idiots like Boehner and Mitch McConnell make fools out of themselves by blaming President Obama for AIG. How easily they forget that AIG started with problems back in Jan. 2008 and by Sept. '08 the Bush administration, with the approval of the Republicans wrote and set the terms of the AIG bailout SIX MONTHS AGO! Both parties are to blame for the lax oversight, and both are stupid, incompetent and clueless. We voted in greedy and amoral Republicans along with gutless Democrats. Come next election I hope we see some new faces–with common sense and integrity.

David.
It was NOT JUST THE REPUBLICANS who deregulated. Greenspan said himself he assisted in deregulation during the Clinton Administration because they wanted to "SPREAD THE WEALTH" by allowing everyone, including people who could not afford housing, to get financing by stretching the rules to include UNQUALIFIED home purchasers who eventually could not afford their house.....
SO MUCH for SPREADING THE WEALTH.
Now OBAMA IS SPREADING THE DEBT.

Can't anybody in congress, the administration or the news media connect the dots and realize that we have let these huge corporations become so large that they can control everything (including the global economy?) Whatever happened to our laws that help to protect against unfair business practices and monopolizing whole industries? How can ONE insurance company and a handful of banks hold the world hostage? Maybe it's time to break them up. Maybe congress needs to get their act together and start doing the job they were elected to do.

Now is the time. Now is the opportunity. We need to surf the tsunami of public outrage and limit the power of the lobbyists.

What? You think "Regulation" is the answer? Fannie and Freddie, you remember the folks who started this whole mess, were as tightly regulated as you can get. The had a whole agency (OFHEO) with nothing to do all day but regulate them!

And what went on there, "Bonus"-wise as they crashed?

Franklin Raines, $52+ million in bonuses on $90+ million made in 6 years. And just the bonuses of successors Syron and Mudd add up to $10's of millions more.

If you're going to objectively look at government "Regulation" as the answer then look at why it DIDN"T work at the beginning of this mess! Look on YouTube for the videos of Congress (e.g. Maxine Waters, etc) blasting OFHEO for daring to suggest there was a problem back in 04/05. They actually made it a racial issue suggesting it was a "lynching" (their words, the head of OFHEO was white, Raines black).

Look at why "Regulation" has failed in the real (not academic) world and you'll find why it has been discarded in many areas over the years. The way it's been structured, at best it is passive and ineffective and at worst it grinds things to a cawl.

Dig deeper, please. The tragic saga of OFHEO overseeing Fannie and Freddie is the perfect place to start!

Ellis

"For we brought nothing into this world, and it is certain that we can carry nothing out. And having food and raiment let us be therewith content. But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition, for the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."

Since having surgery in Nov '08 I have had lots of time to watch TV ... I have CNN on for 4-5 hours a day. I have been dismayed by the fact that many of the anchors appear to be more concerned with becoming "personalities" rather than reporting the news objectively. Many, like Rick Sanchez, are intent on injecting their particular perspectives into the stories .... it seems to be "more about them ...." CNN used to be about the NEWS ... reporting the NEWS ... don't forget where you came from! ! ! ! !

Why are you claiming ignorance yourself? Not one of the issues your last few minutes have touched were ignored at the time by reporters and their public.
From the first of the eighties the oversight has been reduced with much political acclaim and damn little followup.
I speak from the perspective of participant in the residential real estate who gave up trying to keep up with all the fancy stuff and suffered from the lack of cleaverness.
Anyone honest enough to read and compare history shouldn't be shocked, just ashamed.

Agatha K. I do agree with you that it is ludicrous to encourage banks to give loans to people who they know to be unable to pay back the loans, and that was certainly not due to the Republicans who generally have little concern for people in that echelon of society. However, I was talking about certain specific moves in the last few years of the Bush adminsitration where there had been, I believe two or three attempts to put a motion before Congress to examine ways of bringing over- the -counter derivates under even just a rudimentary degree of regulation, and I assure you that it was very much the Republicans who soundly rejected those for purely ideological reasons. I'm not a Democrat by way. I am conservative on some issues and liberal on others, so either I don't have an axe to grind against anyone, or I have one to grind against everyone.

I don't know if I heard her correctly, but Congresswoman Shiela Jackson Lee, while rushing to get her face on TV, announced to the world (I paraphrase) that she was so determined to get the scoundrels at AIG , that she was supporting the passage of this bonus- recovery tax bill that Congress in their infinite wisdom, has just passed, although she was aware that it was probably unconstitutional.
So I checked on the Congressional website for the Oath of Office taken by members of congress. "I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same;......"
So I wonder, what is a Congresswoman doing passing a bill that she knows to be violating the Constitution of the United States?

I am so fed up with politicians!! Dodd needs to go, is this transparency, thank god we did not elect him President

Rick,

The outrage is valid for the bonuses paid at AIG. Where is the outrage for the $5 Billion paid by Bank America to the executives of Merrill Lynch in December of 2008? Will Congress take that money back, I wonder. What accountability should formerTreasury Sec. Paulson be held accountable for?

I have not seen any comparable reporting on both companies. Need to hear more about the billiions in BOA bonuses.

Rick
Never involved in politics prior to retirement, now I am an avid follower via shows like yours. I find it offensive, listing to member of the house and senate alike lying or telling a half truth one day, get caught the next-correct the lie and everything is ok. By the same token, when a citizen is facing them and lie, they go to jail-what about them? My suggestion is that we fire them all–get some fresh honest faces that we can trust. We can easily get this done simply by swearing all of them in on a 24/7 basis, us the same laws applied to citizens–In 90 days, we will have 90% fresh faces.

Herb

I'm not any kind of financial student, and I'm sitting here looking at the signing bonuses paid to pro athletes so their teams could remain viable.
Is it understandable that CEOs want to keep top people? I watched a program on TV where the topic was about the almost a trillion dollars the U.S. taxpayer has given to build and support professional arenas and stadiums. Where is the outcry? It's all relative, isn't it?

Mad as hell and hope the people stop taking this BS from the house and Senate. Why can't we citizens organize nationally and impose term limits, this way it will limit lob & special interest groups–any readers have info and or suggestion how to get a movement going?

Herb

Thanks for an exciting program on 03/18/2008. This is not first time in USA' s history when the Admin or Congress have been cajoled or fooled or willingly participated in schemes "givimg" huge amounts of money to corporate giants. Most of the time the USA got something out of it, eg. Louisiana Purchase, building of transcontinental RR, Seward's Folly, etc. But isn't this how capitalism works? We could avoid all this senseless, wasteful finger pointing by simply obtaining the names of all "retention bonuses" recipients and have IRS audit them before they leave for the Bahamas. Adaljiza Sosa-Riddell, Glendale,California

Rick Sanchez,
I think the Obama team is brilliant. Decide the contracts are legal and they need to pay bonuses. Then let Congress tax the money, which will include anyone over $250,000, and achieve, rather quickly, what they had wanted all along. It's time to share the wealth.

Too bigg too fail!!. No private company should be so large as to leave our country so veranable to failure, greed or dishonesty. We have failed if after this mess isover they are still 1/5 there original size. to big to fail? Hell I say they are to big to exist.

Re: Dodd's own words about AIG & the provisions of the bonus distributions – he stated that he is "NOT NEW" to writing these. If this is what his EXPERIENCE has done for him (and us) , I'm scared!

Rick: We are in a debt money system. That means money is only created a debt. The Private banks create money when they issue loans or credit. They practice Fractional Reserve Banking with a 10% reserve requirement. That means with the money given them in their bailout thay could have created Trillions in loans and they didn't. What did Congress do? They gave them more money. They are still not issuing credit. They should not be in charge of creating 90% of the money supply. That should be the Government's duty to continually increase the money supply in order to expand the economy. Take away the banks ability to create money and watch how fast they change their minds about creating credit. Congress has the power to create money under Article1 section 8 of the Constitution. They should not only create it at this time but also spend it inot circulation as FDRE did to end the great depression.

I had to laugh at Congress scolding AIG for their bonuses
After all are these not the same people who give them selves raises take money from and travel with lobbyists and take so call fact finding trips on military planes to places like Paris.

I'm totally "DISGUSTED" by the bonuses the people over at AIG received!! It's a shame how CREED & CUTTHROAT tactics get rewarded in this country! People are out of homes & can barely feed their kids! Unemployed for months all the way up an over a year but their relief is SLOW in coming!! The top of our society wants to have all the MONEY & all the POWER an will do anyting to get it! ITS DISGUSTING!! We definitely need some SERIOUS CHANGES!!!

the Feds trying to get Mortgage rates down to 4% – yet the banks are all charging at least 5% today . their reason? too much volume! Fed is trying to do the right thing while consumer once again is getting screwed by the banks.

Rick, when I see the barrage of financial news I find myself asking – Where are the arrests and indictments? Where are the Justice Department and SEC? Are Bernie Madoff and his top accountant the only people they can find? The amount of money lost is greater than the Gross Domestic Product of many large nations, which undoubtedly included massive fraud in many areas, but instead of jail... people get bonuses?? The amount of money stolen by Madoff is so great he could not have hidden it alone. Every computer and communications record from that company should be checked. Our nation is clearly at a turning point. Does capitalism mean that white collar crime on a massive scale goes unpunished? Bring back water boarding and Madoff just might explain what he did with the hundreds of billions he stole. I’ll tell you what, give me immunity from prosecution and let me have old Bernie for a couple of days. I can guarantee that the thousands of people who lost their life savings will be much happier after I’m done with him. Bernie would probably have trouble shacking hands afterwards, but that seems a small price to pay. John Evans, San Antonio, Texas

I think the people should vote on everything these bailed out companies do with OUR MONEY!!!

Time to own up for your actions or your gone. Could you imagine if we put this type of money behind people we actually wanted for top office's in this counrty, people who actually have the country at heart and not their constituents!!

Senator Kyl needs to understand this is democracy, and even though I can't fathom why anyone would watch Leno, people do. They deserve to hear from their President. And as for determining what went wrong, Senator Kyl could do that. He is still a Senator.

I WATCHED BARACK LAST NITE ON JAY LENO SHOW AND HE DID A GOOD JOB OF EXPLAINING WHAT HE WAS DOING FOR THE GOVERMENT. HE IS ENTITLED TO HAVE A LITTLE FUN IN HIS LIFE. YOU MUST REMEMBER HE INHEIRED THIS MESS. ALSO HE WAS ALREADY IN CALIFORNIA FOR SOMETHING ELSE. HE DIDN'T MAKE A SPECIAL TRIP OUT THE FOR THE TONIGHT SHOW. GIVE HIM A LITTLE TIME HE HAS ONLY BEEN IN OFFICE FOR 59 DAYS.

What a chuckledhead! The Republican rep Karr is silly. He should be coming up with a solution that is not so partisan instead of trying to create his own "tv spot" . Republicans are back into the "No to everything & we don't have the answer or a solution" mode. Rush Limbaugh has turned the Republicansreps int ditto heads with no backbone of their own and afraid to buck the party line. I am not looking to be a lemming willing to follow everything the Democrats put out their but I need a viable and realistic alternative and the Republicans are lacking. Never thought I would consider Sarah Palin smarter then the Republicans in Washington but her backbone is looking more attractive everyday.

A contract is a contract and there is no way the gov should be taking it away or taxing it. We may not like it. But this is America. If this happens we are going down a socialist road...

I am a taxpayer who was appalled at first hearing about the bonuses. Then I saw CEO Liddy's explanation which I found to be surprisingly rational. These were not performance based but based on successfully closing out books of business – which meant that, indeed, some of these folks has left by the time they received their contracted bonuses. Similarly, I feel the sentence that protected these bonuses in the stimulus bill has been explained well enough. And I already know enough about who knew what when and why they did it.
The residual anger is due to the great disparity of those who have and those who have not. Many middle class families will never see 6 figure annual incomes. Is an investment trader really worth thousands and millions more than teachers, mechanics,etc.? I am not a died in the wool socialist but it is difficult not to be angry about the greed of the wealthy in our society.
And, by the way, I am starting to feel like a fool for paying my taxes as honestly as I can every year.

Let's get the facts correct..President Obama did not fly to CA to just appear on the Tonight Show with Jay Leno. He went to CA to appear with the Governor and later in the evening he appeared on the Tonight Show. I think the Republican's cannot stand the fact that this President is so popular and people truly believe his ideas are going to get us out of the BIG MESS the previous administration got us into in the first place.

Barack Obama did not tax rich people. Barack tax the people who use captalism as a platform to give them self bonuses. The issue is not captalism but the issue is few people on wall street misusing the system to their benefits. the ultimate Job for a CEO is provide value to share holder but they did not do that . these CEO's have 2 options just like any other unsecuuefull employee who is not doing their job, either to find diffrent job on their own or get fire. Why these people are diffrent than any body else. Why they give them self bonuses when they are failing????

I could care less about the bonuses if AIG had earned them by good business practices and earned company profits. This is the American peoples money and we want it back, but they can keep Rush's portion!

well lets see all those pesky big claws of government regulations controls and antitrust laws we put in place after the great depression and other financail cirsises, hmm we systematically dismantled those controls at the behest of the folks that ran up their incomes and ran down their companies and took the world economy with them.

The quote for the last 28 years was whats good for business is good for america, the truth is whats good for business isnt even good for business its good for businessMEN. Bring back the 70% tax bracket!!! If a ceo had to stay with a company for 10 years to grow his wealth instead of a year, mabey we'd have long term busninss plans, instead of an insurance company blanketed by a hedge fund, yea AIG.

Listening to republican solutions now would be like taking back your lying cheating X before you had the chance to change the sheets................... yeah i mean that.

President Obama is taking every chance he can to help middle America understand what is going on with economy and the stimulus package. The cost in time and money is well worth it. There were no complaints with the cost of trips to Crawford, Texas for vacations that did nothing to help Americans. Once again we are arguing over a trip to the " Tonight Show" instead of looking at the bigger picture of what happened to the ethics, competence and intelligence of those who did this to this country.

The salary and income of the congress and senate should also be taxed at the 95% rate until this bailout is finished.

and any politicians that received contributions in the past few years from companies that are now receiving bailout funds should pay back that money to the taxpapers.

MORE ENGINEERS LESS LAWYERS!!!!!!!!!!!!!!!!!!!

REMEMBER THE YORKTOWN!!!!!

rick, the problem with the executives getting $165 m in bonuses, because of the status of AIG, is totally fraudulent and wrong and the taxpayers are the ones who suffer. There is something insane about folks at the top being paid on the backs and out of the plates of the middle class for something they did poorly and failed at. Rewarding folks for failure is not what bonuses are usually given for.

Jerry Lee
Frankford, DE

I see that Rush Limbaugh is on CNN again. I really feel sorry for this guy. It's a shame that medical science has not told him that his guts got all mixed up while he was in the womb, and instead of having his rectum and mouth where they normally should be, they got switched.

Barney Frank had a "romantic" relationship with a Fannie Mae executive and Rahm Emanuel was paid $260,000 for "services" to Freddie Mac.

Hey Rick,

I have always thought scamming Seniors for their pension money was the lowest of financial cons, and done without any form of concience.

It seems many AIG execs have managed to plumb new depths. Hope they are proud!

Good job Rick!

Thanks, Mike

Rick
After working for 30 years and raising my family for the first time I have to pay Income tax. I do not feel that I am to be made responsible to bail out companies that could not keep it together. As an American taxpayer, I own part of these companies. I would not pay a bonus to people that are running my company into the ground.

Hey Rick-this is not a matter of taking from the rich and giving to the poor. These funds came from the poor(Joe average) and have gone to the rich! We do need this money back-

furious at greed big businesses for sucking us dry. Furious at hypocrite, corrupt politicians who enabled business to grow "too big to fail". Furious at American people who were too busy to notice what these peole were doing. Let big businesses fail and smaller but more reliable, more competent and with more integrity step up to the plate.

Nice Try Rick! Re: Trying to get Morehouse to agree with Rush Limbaugh! NOT!
I had to laugh because I admire your persuasive ability. Unfortunately AIG had to be 'taxed' to return bonuses unfairly distributed. Necessary evil because AIG is homeless, on welfare, food stamps, 80% owned by us, the taxpayers, etc. not independent wealth-producing viable entity. YES, YES! Tax their brains out. Do like Sheila Bair wants-absorb them like a bad bank if they are too big to fail.

IS IT LEGAL? ... lte's get one thing clear these companys ( ALL OF them Auto companys too ) Took AMERICAN TAXPAYERS MONEY . In the case of AIG these Contracts were nog. BEFORE they recieved TAXPAYER MONEY knowing they were LOOSING money. In my opinion and many other people all contrats SHOULD be automatically invalidated as soon as a buiseness recieves TAXPAYER MONEY!!!!!!!!

The nation's money situation will never change unless the people change it, and that won't change until public education begins to teach children to think, not simply remember.

Harrison

First off Rushie baby needs his meds-I never liked listening to the loud mouth before and after his illegal drug use came out it confirmed why i didn't listen to him and if he thinks we should, he should go to jail, like he said illegal drug users should do. AIG, and the rest have been abusing the system to make themselves and their coharts rich for a long time-They "get it" they just don't want to quit what made them rich. They want us to quit looking at the bail out bonuses because they think people are eventually going to take there pitch forks to the streets. They like to specify how Obama and Clinton all took money for campains but Bush took over $200,000 himself and other Republicans did too. I didn't vote for any of the Bushes and those who did bailed on them after years and years of bad govt. The only ones they have left are the die hard Rush listeners who may be taking there meds while doing so. They haven't paid their taxes so is the IRS going to sieze their bank accounts and garnish there paychecks and compound the interest and penelties on them? And they were asked and didn't fess up to owing taxes and still took the money so they should be under a criminal offense for not telling.

i agree with president obama in saying that all of the things he is working on ,such as energy, health care, and especially education, play a huge role in the overall picture of the economy. and if these problems aren't addressed at once they will come back to bite us. without a reliable renewable energy source we are bound to buying foreign oil, sending our money to other countries and taking away from our own wealth. If we dont have a good education our future employers and politicians will not have the skills and knowledge needed to run our country successfully. if we dont have proper health care the individual will be struck down financially by unseen health issues that require more capital than they have to dispose. its unfortunate but true.

Rick,

Being from Canada this is not even my money and I am outraged. Ten million for renovations ??? Should the CEO of Citigroup have the P in his last name replaced by a B. I would think Bandit sounds better.

Responding to the broadcast regarding the 90% tax rate being considered for AIG employees: The US federal income tax rate had a top end of 90% into the 1960's . It only dropped because the wealthy managed to get it pushed down by contributing to congresses campaigns and thus controlling congress and influencing the tax system. This has led to the income redistribution we see today where the top 1% of wage earners now have 24% of the the wages being earned. If there is talk that a campaign is being wages against the rich, it is a campaign to reset the income and wealth back to where it was and where it should be. Our society and economy can't move forward while leaving so many people behind from the american dream.

No, Rick. President Obama's agenda, although ambitious, is what is needed to turn around and recapture the ship of state which was taken way off course by the prior administration. I support the President.

now on the those that would think it was wise for them to take a bonus when they know they as a company did not do a good job managing there money. They should feel ashame and return the money because it doesn't belong to them.

i agree with president obama in saying that all of the things he is working on, such as energy, health care, and education, play a huge role in the overall picture of the economy. If these problems aren't addressed at once they will come back to bite us, and heres the reason: without a reliable LOCAL energy source we are bound to buying foreign oil, which sends our money to other countries and taking away from our own wealth. If we dont have a good education our future employers and politicians will not have the skills and knowledge needed to run our country successfully. if we dont have proper health care the individual will be struck down financially by unseen health issues that require more capital than they have to dispose. its unfortunate but true.

Might be legal according to written law, but still every bit of FRAUD!

This entire situation in this country is more than disturbing. As A retired Firefighter, I recall very well the unity, post 9/11. Im not unsure what has happened, but I am sure that those same enemies and more are watching closely and are patient.

Rick , you're a real good guy but I have to tell you that I sometimes get irritated at you, when you interviewing a person you ask a question but you hadly give your guest a chance to respond ,them you jump in with your own comments, chillout, let them respond completely.

Somebody should be watching these banks 24/7 Just look at what Citigroup is trying to do, it's all spelled out in the bank's press release today stating that it plans to dilute the holdings of common stock holders by converting preferred shares into common shares, and then it will conduct a reverse stock split to reduce the total number of outstanding common shares.

Now here's the part of the press release that you should worry about:

The plan to get the government and other owners of preferred shares to convert to common shares will first dilute the holdings of investors who currently own common shares.

Then comes a reverse stock split that will convert some number of shares into a single share with the same relative value as the combined shares previously held. Of course that assumes the shares hold onto that value.

It's not just common shareholders that are getting played here. Citi also is cleverly pushing its bailout repayment risk onto the government with these initiatives. If it all goes through, taxpayers will have to hope for a major rebound in the bank's share price in order to recoup the "investment" the U.S. Treasury made.

Ref AIG Bonuses
When I was working those who did their job and make money for the company got a bonus. These people ran the company into the ground. How do you justify a bonus for that? They call it a retension bonus to keep these people, With what they did, why would you retain them.
Firing them makes more sense...

There s so many problems in our country and no one really says what the real problem is. Everyone is so PC and thats the real problem and until we get over that it might get a little better but will never be fixed,For example California's state gov is broke why is that? The truth is California is broke because it has more illegal immigrants than any other state!! I have respect for immigrants but 22 million illegals it is unreal.They use all the services to there advantage and don't put back into the system. Either we legalize these people so they pay like everyone else or they need to leave. This is a very important issues and if we change this our economy will get better and tax s lower.

I'm not mad at the fact that wealthy businesses men and women were paid bonuses with American tax-payers money for failed and deceptive practices. They will have to answer to God about their deeds. The American way seem to be a business can make a profit off the American people and turn around and kill us by polluting our air. So, Wealthy AIG Executives getting a bonus for causing a clasp in our economy that left American people homeless, jobless, and penniless is the American way!

We have long feared the label Socialist that Republicans and large corporations tout in defense of capitalism, which the wealthy use to associate helping the poor with our rabid fear of communism. Because of our fears we can't recognize that AIG is on 'life support' with their income paid by taxpayers. Now when I have an employee that lives extravagantly, more so than I as their 'employer' I take issue with rewarding them for embezzlement. It is all in language. Are we manipulated by labels or looking at the real picture. AIG bordered on unethical methods if not blatantly criminal. No bonuses for criminal activity.

AIG needed to give those bonuses because they were contractually obligated. If they didn't give those bonuses, which the employees earned, they would have been sued, and most likely would have lost the suit.

There are powerful executives in our country who have enourmous incomes including bonuses. These individuals earn more money than most people would earn in their entire life, even including their families income. These same executives have created a horrific economic CRISIS where people are starving and homeless. The irresponsible behavior of these executives is unexcusable especially when these same people were at the front of the line for a government bailout. When a company is receiving government funding for irresponsible money management then HUGE bonuses should be far from these powerful exeucutive minds. In all essence, the AIG bonus could have taken care of our high risk populations which are the elderly and children, this bonus could have provided shelter, food, and medication.

Healthcare Provider

responding to today's show. I find it insulting that these politicians think is just fine to lie to the public. They need to get their heads out of the sand, grow up and deal with problems face on. The public may be upset for hearing the truth but they would have more respect for these so called leaders. What are they going to tell their grandchildren, lies. There has to be a change in attitude and more respect for the public, after all we pay their salaries.

Rick, I really enjoy your show, because you "dig right in' on the critical questions. However, when it comes to solving the economy by increasing employment, you along with all the other news people don't seem to understand what is critical. The fact that our washington politicians don't understand it is not a surprise. But you guys should be smarter than that. What is critical to revive the economy is not just more employment. But what kind of employment!!

In communist countries, there is no unemployment at all. In the old Soviet Union and East Germany, there was no unemployment. Everybody had a job. Did that make them competitive? Did that give them a strong economy? No - and No again.

If a country wants to employ every body just to be busy, but we don't have revenue coming into the country from products we export, we have nothing!! We will never get back to a healty economy. Any stimulus and support that we hand out should be to support industries which create exportable products which in turn bring in revenue to this country. Is that too difficult to understand?

Manfred Hoffmann
West Covina California

Revenue creating jobs is what we need not just jobs. Doesn't anyone remember that the old Soviet Union and East Germany had zero unemployment?? We should all know that full employment is not a guarantee for a strong and competitive economy!!!

All the infrastructure projects and service projects that Obama is taling about are cost to all of us. But none of these create any revenue for our country. Its like taking your family to Disneyland but the bread winner of the family has no income. Why doesnt any of your news reporters bring this simple issue onto the forefront of these discussions? It is not surprising that our elected officials don't have a clue about this. They never ran a business before. Infact most of the once that have been appointed by our new President dont' even pay their share of taxes!!!

Sincerely,
Manfred from California

We have antitrust laws like the Sherman and Clayton Acts which attempt to protect our society from dominant companies who engage in anticompetitive tactics. These efforts resulted in the breakup of Standard Oil and AT&T, for example.

We need to apply similar thinking to companies that are so large that they cannot be allowed to fail. For the good of our political economy, we simply should not allow any company to get that big.

Hello Rick:
This whole Geithner situation is disgusting! He now takes full responsibility for the loophole in the AIG contract regarding bonuses. How do you like that! He takes full responsibility for his actions and I always thought that is what we were suppose to do as responsible people and as taxpayers. The loophole he missed is being filled with our money. This is an outrage.
If I missed a loophole on a job I would be fired. Easy and simple. How many workers have lost their job for less than a loophole. I am an administrative assistant with many years of experience and for the past four years have not had steady work. I have been taking on temporary assignments to earn a paycheck and that paycheck is not very steady. I am grateful for the temporary assignments I have because it is income and it could be much worse but if I should jump over a loophole I will be removed from the assignment.
Geithner's tax problems and the AIG bonus issue proves he is over his head in his assignment. He needs to be replaced.
By the way...I reside in Tinley Park, Il and am seeking full time permanent employment. I will email my resume to any interesting company, corporation or government agency.
Thank you for your time.
Janet Frampton

Rick:
just a comment,the word TARP stands for Troubled Assets Recovery Program,am I correct? and CEO stands for Chief Executive Officer
Our home coming Veterans of the past present and future, are troubled assets and they need a good recovery program,
and the Unemployed also,need a good recovery program
The Veterans should be CEO,s of America,no one hands them a million dollars,all they do is send them back on the line why don't our government give money to trade techs,and schools so all people can learn a new trade,don't give the money to AIG,Fannie & Freddie

Thank You
David
Utah

This land of ours has many names.
The United States of America
The US
Land of Opportunity.
Opportunist: unprincipled resourceful person: somebody who takes advantage of something, especially somebody who does so in a devious, unscrupulous, or unprincipled way

Encarta ® World English Dictionary © & (P) 1998-2004 Microsoft Corporation. All rights reserved.

Then should we really be surprised?
We don't understand how these laws are written. The ones that do get it are lawyers. Yeah, that's right. We must demand a change in the legislative process, to get rid of those damn earmarks–which should in my opinion be handled in a separate committee between state governors and federal officials, get rid of those lobbyist for good because they are not looking out for the average American only for their company interest. The House and Senate should vote how their constituants would, not sell their votes for favors or perks.

Most of us Americans do not participate in political system until something bad happens in their life to jolt them into reality. Just voting is not enough. Math was not my strongest subject but the last time I checked we outnumbered them. It is time for the "US" of the USA to demand a change in the system. We need the help of the Press to help us find the facts, to inspire people to ask questions.

This culture of "What's in it for me" is to blame not the actions of a lone individual. They need to stop their fingerpointing/scapegoating chatter and think about US, the United Stewards, of the United States of America.

Hello John Jenkins. I would like to see if the Federal Government and therefore the tax payers would lose the law suit, wouldn't you? That is a safe bet I would invest in. It obviously would be less risky than the market right now. Check your 401K lately?

Rick, Greed is the human condition, starting with the preschooler who wants the largest piece of cake.
Regulations and cross-checks and expert "players" are required to keep any system afloat.
The Press and the President (whom I strongly supported, and still do) are stirring up the last straw to bring our economy down.
Put the bonuses into perspective:
We pay entertainer millions of dollars.
We pay champion athletes millions of dollar bonuses.
The American people don't become violently aroused over that those bonuses.
I think the American pulic needs to be educated by our press and our president to understand that paying the "experts" is necessary if we want them on the team. Now is NOT the time to change the process.

The best analogy to our financial teams is our athletic teams
... If we want an "A-team" we better be willing to pay for an A-Team,
And this government and our financial systems need an A-team 'cause we're in the 9th inning and going into overtime. Rookies can't accomplish the mission no matter how well intentioned.

That analogy goes for both the financial teams and the administration team. We can't afford to turn away the experienced winning players just because they played for another team.
GET REAL!

One of my big questions is why aren't criminal charges being researched and filed against the perpetrators of this whole home loan scandal. Surely many of the activities were committed with the knowledge that they were, at the very least, suspect or even criminal in nature.

Rick
Since the United States Government now ownes 80% of AIG why don't we fire these incompenent executives who handed out these outrages bonuses

I have yet to see the compensation for an "AIG" executive presented in its component parts such as base salary, bonuses, stock options...
Eliminate the "bonuses"... substantially increase the base salary to allow fair, competitive compensation and bonuses are a none issue?
Are bonuses not an industry way of beating the IRS in some manner?

We need to put the regulations that we had before the Regan years back on especially the Banking,Utilities and Gasoline industry. We also should look at the the NAFTA bill signed by Clinton and get that modified. We should also stop the stealing of money in at Fannie Mae & Freddie Mac these salaries are absurd for the top people.

We should put a ceiling on campaign funds. To me the funds over $500.00 that they receive from Companies are no more then a bribe that the congressperson or Senotor gets to take when he retires from office with super benefits not only for themselves but there whole family. I wish I had a job where I get this extra retirement fund
for voting the wrong way most of the time. How much did Dodd,Levin get from AIG over the years in fa form of campaign funds. When our politicians retire their campaign funds should go directly to a charitable group or back for education but not for lining their pockets
with bribe money.

The AIG deal is a complete sham being done to the public and thank you Mr. Clinton and the Congress and Senate that let it happen through deregulation of working measures in place.

I would like to thank our Government for destroying the middle class.

If Treasury Secretary Tim Geithner can print $2 trillion dollars out of thin air and debase the us dollar, the least he could do is give it directly to the American people. Instead Mr. Geithner is giving to the Fed and Wall street so that they can loan it back to the American people with interest.

Where was all this scrutiny on the goverments activities prior to Jan 20 2009 maybe if we as a nation and media were as vigilant in the pas twelve years we wouldin't be in this mess President Obama can't even have lunch without someone making a federal case about it where were the GOP watch dogs and critics for the last twelve years?????. Its pretty impressive when the GOP comes up with all there criticism but what may really roll peoples socks up and down is they had some salutions to go along with the crticism !!!!!!!!!!!!!!!!!!

Economics and government are one in the same thing. I see you
want to teach the college students how the game goes. It is funny
when the gamer get beat by the game. Interest on money is the game
that is played on the liitle people. There is a Game coming by God.
That is not really going to be a Game. And truely not going to be funny.
All rich and well off people need to regulate theirself.

This whole AIG mess is out of control. Why is Geithner taking all of the heat? He didn't do anything that Obama didn't tell him to do. Congress ranting about the bonuses, and passing retroactive laws, is a joke. Why can they tax the bonuses retroactively, but when it comes to protecting everyday people against credit card company abuses the new laws don't take effect until 2010?

And, how dare anyone publish the names of people that received bonuses! Since when is receiving a bonus a criminal act? I've worked for companies that gave out bonuses, and companies that didn't. My base pay was about $10,000 higher in the companies that did not give a bonus.

When are people in this country going to wake up and realize what is really going on here. It's not about bonuses; the real issue is that our taxes went to pay off banks all over the world. If AIG had been allowed to fail, the government could have brokered a deal for several different companies to take pieces of AIG, and started from scratch. It would have cost us taxpayers a lot less money. But, we have Democrats controlling the government, so almost everything is going to pass unless American citizens stop listening to the 30-second sound bites and make it their priority to understand what's really going on!

i think a serious problem is that these companies are " too big to fail ".
they should never grow that big. it might as well be a monopoly! they should be divided into a bunch of smaller companies that can fail because of their own stupidity. ya know, i think we done this before when Rockerfellers standard oil company was so huge it challeged the power of government

I watched your show and I think your behaviour was not just dishonest, but double dishonest. You pretended criticizing politicians, while in fact, you were covering up for them. You criticized them for voting the law which they did not read. This is a lie. It was Dodd who put this amendment in the law and don't tell people that he didn't read what he put in there.

You want to make people believe that politicians made an honest mistake and they are just too busy and doing too much work. You even invited several guests who you knew would say so. This is repugnant. What is your additional pay for covering up for crooked politicians?

There is nobody else to blame but the politicians who always believe
that regulations are bad for the market and business.Whereas those
who think otherwise are reluctant to stand up, maybe because they
are just called nothing but liberals and socialists by some conserva-
tives.If only these fat cats have enough sense and conscience, they
won't be asking millions for bonuses at the time when our country is
in economic crisis.This means that these people need to be regula-
lated the fact that they cannot help themselves to all the money that
they can lay their corrupt hands on.Some of these politicians do not
understand that regulations are not for the honest ones, but for those
who are bad apples and there are plenty of them ! Who can you really
trust with your money these days?I have never felt safer and more
confidence again in our gov't in the hands of the Democratic adminis-
tration. Thanks!

Hi Rick, used to watch you in the good old days down in Miami, Congrats. But to the point, this overkill CNN is doing about AIG is driving me crazy. I know it stinks, and wasn't right. But come on, there are so many bigger stories and fish to fry. This AIG business is just starting to sound like kids in a school yard arguing over who started it. What difference does it make now. Just move forward and report on trying to fix the you know what that's gonna hit the fan, that will make AIG pale in comparison. I wanna here about the possible Nuke tests in North Korea, What happened to letting us know how many of our young people are getting killed in Iraq and Afghanistan. 165 mil is a drop in he bucket compared to the entire bail out, and I know Don Lemon said hey it takes drops to fill up the bucket. I agree. But move on to the next drop already. (no reflection on you Rick, just journalism in general). Thanks for your time. Sheila

Why doesn't anyone talk about the 1999 deregulation of Wall Street proposed by 3 Republican Senators and passed by the Republican Congress. They set up the greed to run wild on Wall street. AIG toxic problems would not have happened in the first place if reasonable regulation was in place. All the Republicans want to do is point fingers for the mess they set up in the first place!

Why has Congress not taxed (at 90%) the $ 4 billion in TARP funds spent lobbying Congress ?

The solution to AIG and executive pay should be handled by paying out the Bonuses as severance packages the elimination of 1 could create 200x the jobs and 200 minds combine could be more valuable that the expertise of one.

Rick, I love your show because it is very informative. It's easy for the financial experts, psychologists and people who have good jobs, to say be positive about the economy. They are not in our position, the people who don't have a job and are seeking jobs. I had a very good job and now I'm unemployed because it moved to Mexico. I'm the type of person that has always had a good job and should'nt have to settle for whatever comes along. I'm a veteran among other things and am highly qualified for good postions. The bright spot in all this is that my wife just recently became a Registered Nurse and has landed a job at a local hospital. For the past four months, I have been Mr. mom and I have enjoyed it. But it is getting very old, especially when you are used to working. I know this probally will not be read over the air, but it sure feels good to let it out. Thank you, Mel

I am very sickened by AIG employees getting these kinds of bonuses!!! With as many people streching over many job lines out of a job finding someone to take over these jobs that AIG is trying to "secure" is obsurd!!! They are the reason that AIG is in the boat it is in now. Make a clean slate and start with the employees!!!

Rick:
is it true that the US Government owns 80 or 90 perent of AIG?are the CEO's and it's employees,are they Civil Service Employees
if this is so
how in the heck can the Government sue the Government?
Thank You
David Mora

Looking at the situation with B. Madoff and AIG, I see no difference. The way the government is attempting to retrieve lost money for investors. I believe this AIG situation should be fully investigated because I believe if they investigate thoroughly someone or someones will come up dirty. Still it is too much finger pointing. Because just like what Mr. Madoff did to investors that trusted him. The American taxpayer was taken advantage of with the one hundred and sixty-five million dollars that was paided too the employees of AIG.

Janitor/Student

I would only agree if it is acknowledge that greed started at the bottom by buyers (who fudged income,assets, ownership intent) and sellers (many of whom were not banks who seem to be a convenient bigger target). This greed continued up the chain of mortgage brokers and banks to people who aggregated these mortgages, to people who packaged them with dishonest regard to untested quality and so forth., The only difference between the bottom and the top is the financial leverage that makes the transactions larger the further we go.
It is said that true honesty is what people do when no one is looiking.
On this basis, badly priced risk, low interest ratesk, non-regulated sellers made it possible for lots of people to buy property they had no hope of paying for when nobody was looking.
Yes, it's greed, we just found out that we are a greedy country, a country that has lost a great deal of its traditional peer to peer honesty, and now we want someone else to blame. Sorry, but as Pogo said, "We has met the enemy and he is us." I am not nor have I ever been a bankier, minister, involved in real estate as a business.: I am retired businessman, who watches in sadness and disgust at our newfound skill to blame everything on someone else, accept no responsibility for our own acts,

Where was the American public and media's concern and investigation of the financial sector before all this happened? All angry about the octomom (a story that has little impact on most of our lives in comparison).
Americans get fired up by the most 'popular' news.....AiG's bonus controversy is now the current one....and whether fair or not,,,it was legal in it was in their contract.
I'm more concerned at what the government is going to do from now to regulate and oversee financial instituions. Don't cry over spilled milk...clean it up and just be careful the next time and be prepared before the next mess happens!

Dick Cheney had hit squads to kill people across the world, and it get less then one day of news coverage from all of the people who are suppose to look into this stuff. WE had Nazis in the white house and it does not even seem to bother anyone across the country! If they get away with it, someone will do it again in the near future!

I am 53 years old man from memphis, Tenn. who is not angry (becasue anger cause lynch mobs) about AIG given their employees bonuses. What hurt me inside was to hear people say if they do not get their BONUSES they will just leave and go to another country (Are these Americans) they are the only ones that knows what to do (Are we are that helpless is this something we want to tell the world) not even the white house knows what to do (Thanks for making our government look strong in a time of crisises). My single mom did not gradurate from high school (who was trying to feed us) did not know about AIG or stocks she just wanted a job. The US is the bggest spending country in the world, but if you keep moving all the jobs overseas for cheap labor, we can not spend what we do not have, plus we are sue happy do you really want to run a business out of business? "like Don King would say god bless American"

If the American public was able to see a published list of companies that AIG owns, then they could voice their outrage by switching companies if they see their insurance company on the list. As an American taxpayer who, with millions of others have helped bailout one of the greediest conglomerates saw my insurance company, such as 21st Century Insurance, American General and SunAmerica just to name a few, I would change insurance companies immediately to a company not affiliated with AIG. If more Americans elected to change their insurance to a non-AIG company, then within a few months this insurance giant who some have said could not fail would definitely get a wake up call.

I agree with you. Good job!

This Obama administration is bilingual – what do I mean?

The language used to bail out industry effecting white collar jobs is totally different from the language used to bail out industries that effect blue collar jobs.

The Obama administration wants drastic changes with auto, teachers & unions associated with the organizations. The organizations have to tighten up their belts; imposing strict guidelines on how bail out money will be distributed and used. Currently the middle class is hurting, but I am glad to see the government is taking their time to think this one through.

Why wasn’t this type of language & tone used from the beginning when dealing with Wall Street? Maybe it has something to do with the US government revolving door policy with lobbyist and special interest groups. When the first bail out money was given (750 big B’s) politicians should have taken a step back and done more research into the problem – didn’t the government learn from Enron?

You’re dealing with the same type of individuals... corporate executives sitting around a posh table thinking of ways to make a whole lot of money while screwing the government along with the common working man.

K

Rick:

For the FIRST time, during your visit to the universities in Georgia, I hard a main-stream TV anchor go after the real issues around the $5BB investment by the financial services lobbies and what that money bought them. Candidly, I dispaired that anyone in the media would address what I believe most American dread to be the truth. I literally know of no issue more critical to our future. Please don't let up!

Best ...

Adam Levine

So the HOMEOWNERS lost, the risk taking Banks survived, the homeowner lost their homes to the lender and the lender got bailed out!
Right Mr. Tim G.

Hey Rick! You know, all these bonuses and corporate jets/hangars, corporate jaunts etc. sorta reminds me of the dotComBust: Give a 19-year old kid with no business plan $20mil, and what do they do with it? Buy *toys*, throw parties and come back 6 month later – broke – with no business plan and say, "Please Sir – may I have some more?"

Except this one is on the American taxpayer – aka me. And I just lost my job!

When everyone is either losing their jobs or jumping on the Bailout Wagon, who's going to be left to pull?

Need to really understand the relation between AIG, Banks and bad mortgages. AIG needs the bailout $ because they are paying for all the bad loans that banks made (sub-prime) and they insured. The Banks are saying that they are not loaning $ because they need to get rid of the bad loans/toxic assets … aren’t these loans the ones the insurance company AIG is already paying for with their bailout $? Now the goverment is going to buy bad loans,/toxic assets (same thing), be careful they don't receive two times the money for the same bad loan/toxic asset.

I just read a story about JPMorgan, who got $25B in bailout money, buying 2 luxurious jets from Yahoo.com. Can you guys please check on this and bring this to the world's attention if it isn't already? This irresponsible spending of the bailout money is getting ridiculous! Thanks Rick.

Rick, I know of a solution to our economic crisis, talk all the so-called news shows off the air for 2 days, it will result in less fear mongering and cynicism. then maybe folks can take a breather and reload. all you guys seem to do is wait for the president and his team to comeup with a plan so you can attack. I thought your job was to report the news without the added inflections and sarcasm. I believe that the media is as much apart of the problem as the AIGs of the world. Stpo fanning the flames and report the news objectively. enough about the american taxpayers, they are to blame as much as the banks, but their is no news in telling it like it is. we all created this problem. enough, forget and move on, lets solve this.

Geithner and Obama are both using their positive messages in the media to help turn around the attitudes of the American People. Confidence and trust in the stock market and the economy is much more important than allowing a couple of investors to make money off the recovery.

Well after the long depression of 1873 – 1897 and the great depression, and the copper credit freeze of 1907, we put into effect anti trust laws. and regulations. After that generation of people died, and the special interest of the rich and powerful regained control via the republican party, all these systematic checks were removed. Now again they are trying to convince the public that the democrats destroyed the economy RIIIIIIGHT..

Everyone in the know knows that a good depression or recession makes fortunes, by driving down wages and benefits, and incresing productivity, people work so much harder when they are working for food

whether we're talking AIG bonus dollars or JPMorgan's new corporate jets, the vacant issue is governance. In a normal world, a majority shareowner controls voting shares or may even have someone on the Board of Directors. How long is it going to take Treasury to put in place the processes necessary to give the government the level of control and oversight its majority ownership entitles it to? Our multi-billion investments will never be protected without adequate governance, accountability and measurements.

I think out of respect for the families involved in the Japan plane crash you should stop showing the video. Let them start the grieving process; we do not even know if they had children or if all of them have been told.

Rick is the best and cnn keeps us informed thanks.

Obama is a real American...Works hard, plays hard, has brains and doesn't take himself so seriously. Let's hope he can keep it up for 8 years.
I have hope.

Rick, if it's not trickle down economics the Republicans can't grasp the idea.

Why do our leaders insist on making things so difficult. If they would have given the tax payers billions back to the tax payers alot of toxic assets would have been paid down or off. The economy and banks would have gotten an infusion of cash. kinda sound like what they are trying to do. Instead we get to pay off the same people who made billions selling these in the 1st palce and now we get to buy them back. Personally I would rather have my paid mortgage than yrs and yrs of debt.

Look, I am disgusted with all the networks right now. These are the same criminals bailed out in the 1960's, 1970's, 1980's, and 1990's. Now, no surprise we are back with their latest get rich, more rich, schemes and we are bailing them out again. The stock markets are up because they now know they are off the hook again. If any individual did business as they have for the last decade, we would be bankrupt, all our assets would be confiscated, and we would be in jail for felony fraud. You all need to get real about how you are reporting this, not everyone in our country is ignorant of the details and history of these men.

I'm by no means a lover of banks but, they do lose a lot of money to bankruptcies. Mostly because of lawyers. Between medical litigation and divorce, lawyers force people into bankruptcy by the hundreds if not thousands daily.

Although I am not a demorat, Obama has my respect and tus far has done the best he can with what he has to work with. I truely hope he suceeds but do not hold much hope for success with all the debt that is being placed on the people.

I'm just wondering why CNN gave no coverage today about the comments that were made last night on Fox News by Greg Gutfeld with regards to Canada in Afghanistan. You (as a country) keep asking yourselves "why does nobody like us". I rest my case. I believe Canada is one of the very few friends the US has left. Shame on all of you.

Rick, Check into Fox News and their slanderous comments about our Canadian forces who have fought long and bravely since 9/11 in Afghanistan. If you remember, Bush left the war on terrorists to pull out his troops to go to Iraq. We Canadians stayed and fought the terrorists. We have lost many of our soldiers but we have never quit.
Despite our persistent assistance to the U.S.A. we are thanked with disdain from our American neighbours. Please Rick, check it out, and if you disagree with Fox news, announce it on your broadcast. Canadians are good and strong allies for the USA but I'm definitely wondering why with such outrageous comments being stated about us. Thanks Ellie

A novel idea for keeping track of what the Banks who are receiving TARP money, seeing as us taxpayers are funding TARP, we should all go to the shareholder meetings or at least have them broadcast on National TV, so we can see what decisions are being made with our money.

Rick

I do not think an Exec of a Corporation that is losing money should recieve any bonus, But then, if Congress was really behind helping the economy, they would not take thier raise either. I think that it is time to look at thier pay and thier retirement.

Rick,

Here's a naive question: If banks didn't front legal tender money to home buyers and just made up the money out of thin air. Why are they taking the homes back and why can we give them same?

Rick,

You should follow up that statement from Geithner's righthand man with a question about what the investment class has to lose. They've lost everything. They actually have nothing but the free money from the government to lose. They don't have to give the money back right now, and if Geithner and his team have their druthers they would get rewarded for destroying the retirements of millions of Americans.

Stop day trading and leave money in for 30 days and watch the
market grow

Once AIG pays off the Government AIG can pay off the bonuses to the employees who created this mess and supposedly millions paid to the Board of Directors. This is the example set by J. P. Morgan and their corporate aircraft. I’ll have to admit one person said this on CNBC.
Cordially yours,
Kelley R Benningfield

Can I get my share of the profits from this toxic buyout direct deposited to my bank account??

Sure Wall street jumping for joy-unfortunately Main street won't share in that joy, we just get to pay for the party–again.

Seems like the more i watch and hear, the deeper it gets.

The positive 'showcases' the political leaders point out is like saying that houses for humanities has finished building a house, so ALL the homeless have nothing to worry about.

Congress taxing back bonuses. I think they should do it. Disregard warnings from constitutional experts and the White House, and make public legislation for a few individuals.

They will set the precedent in the event that the public wants to tax back their paychecks and spending accounts!

Rick, I do not know why you have guests on your show. You keep interrupting them to the point where the listener is unable to comprehend what they are saying. Then you make ytour own statement. Why bother with the guests when you do not let them talk enough to be understood.

Gene

I want to ask obama if the people like us will get a stimulus check so we can spend some money catching up on paying our bills and get other stuff so the economy can go up more he talks about banks and big company's getting in the back track how about people that had to go bankrupt like us and loose our home because my son had a brain tumor and we lost every thing there was no help we could use a big check like he his helping good banks I love the way he his so smart he his doing a good job just that we haven't gotten any thing like a big check like we did with Bush even though Bush messed up alot but he did give people like us a big check to pay bills to get out of there place so we can spend but I love Obama better than Bush keep up the good work Obama but can you help the people too that needs a check to catch up on bills and able to buy stuff to like furniture, clothing thanks finally a good man we have

Hi Rick,
I have heard on several occasions, remarks about our Congress (both houses) as being "The best that money can buy". I interpreted this description as a cynical, exaggerated reaction, until I heard one of your guests berate the Congress for hypocritically throwing the entire blame for our financial crisis on bankers and Wall Street when in fact, it was Congress that rescinded the Glass Steagel Act after receiving several billion dollars from Corporations that wanted it off the books. It galvanized me to research Glass Steagel further.
A quote from one of the documents is as follows: "The simple logic of Glass Steagel was that neither banks nor security firms have any direct interest in serving or protecting the public. Put them together and you have a recepe for disaster". Subsequent to this program you presented another gentleman who espoused public financing for elections as a remedy to our current disastrous system of election finances.
Only a station and programs similar to CNN can educate and mobilize the uninformed American voters who know nothing of our Congressional sell-outs to various Corporations at our expense.

I would really like to take these guys and dump them in a lower-economic housing area. Strip them of their wealth including health care and retirement package for about 2 years or so. This way when they pulling these stunts with money from the working class they may actually develop a conscience. I think that it's about time that some sense of justice is served for this abhorrent behavior. The government continues to give out money and these CEO's continue to misuse funds. I realize that its not in our best interest but let one of the companies fall that way the rest of them would be more weary of their actions. They want our money but they don't want regulations. I am so sorry but when did beggars become chooses.

IF WE (THE TAX PAYERS) OWN 80% OF AIG, WHY CAN'T WE OUST THE BOARD OF DIRECTORS AND INSTALL A NEW ONE. OR, SINCE EVERYONE IS SAYING IT'S ONLY ONE "LITTLE" SEGMENT OF AIG CAUSING THE DOWN TURN. WHY CAN'T WE (THE TAX PAYERS) SEPERATE THAT SEGMENT AND ABSOLVE IT?????????

The Republicans amaze me. This crisis was built on their watch while President Bush spent his "political capital." Now they have all the answers. Timing is everything. At least, the new administration is trying to address the problem. And, just get over the AIG debacle on the bonuses. It was a done deal and now we have added a layer of stupidity and more misdirection. These corporate types are not used to the restrictions of spending others money. They will catch on.

Rick,
Why is nobody talking about the 4-40 mortgage adjustment plan? 4% interest and a 40 year pay back. It would lower my mortgage by $1550 a month. We could afford to stay in my house with this plan

The problem, quite simply, WAS DEREGULATION!

All started by Reagan. Reagonomics...trickle down theory..didn't work well at all.

Canadian banks are regulated..no problem there. We should have strict regulations in the banking system. Something they all would be able to comprehend and implement.

Rick, Why don't we dedmand ZERO campaign contributions? These are all BRIBES made legal by the bribe takers by naming them CAMPAIGN CONTRIBUTIONS!! Follow the money each and every time and you will find this is the why we have FINANCIAL MELTDOWNS of our MONEY. They all WALK AWAY RICH and we poor. It is so bad now, they indenture us for life by garnishing WAGES and not allowing persoanl BANKRUPTSY. But the do for to COPORATE and Rich multiple house owners! Are we stupid? Sure we are. This has happend over, and over, and over. K Street Lobbyists write the LEGISLATION that FAVORS BIG PHARMA and all BIG BIZ including WALL STREET BANKS and BROKERS. Remember KEATING and the S&L MEDLT DOWN.? I do! Enron? I do! UNREGULATED JUNK BONDS and PENSIONS? I do! So what's new? NOTHING!! and all the POLITICIANS KEEP getting RICH and act APPALLED.. Come on AMERICA!! MAKE LOBBYISTS ILLEGAL and CAMPAIGN CONTRIBUTIONS what they are. BRIBES!! Until then, this is what you get, over and over and over. Thanks Rick! George, 4th Gen Vet! .

LEGAL SCHMEGAL!!!

If the taxpayers didn't bail out AIG, they wouldn't have jobs, much less a bonus, so why don't they just be thankful for their jobs continued existence, and quit smoking whatever they are smoking!

Rick,

Newt should be the last person talking about "worthy". He needs to take a look in the mirror and ask himself who's "worthy". Certainly, not him. He needs to take some lessons from the Obama family.

The AIG top executives should all be FIRED. Someone interviewed stated that the AIG execs were from the top of their class, i.e. A students. Since when do A students bankrupt a company? The truth of the matter is that the AIG execs were dropouts, with A's for STEALING, not for sound financial undertakings.

It takes no intelligence to steal. But because the political and justice systems are corrupt the stealing was sanctioned by law, via the corrupt Senator Dodd.

The American people need to demonstrate at the AIG execs homes and at Dodd's home until they are all fired and their citizenships revoked.

Dear Mr. Sanchez,
Another Catholic university, Xavier University of Louiisiana, located in New Orleans, Louisiana awarded Senator Barak Obama an honorary
Doctor of Laws degree when he addresses the graduates about three years ago. Xavier University was founded by the American saint,
St. Katharine Drexel.
For more information, contact Xavier University's president, Dr.Norman C. Francis.

wow..(Ed from white plains) Post March 17 comment. he couldnt have said it better. woo...So true

You forgot to ask your economist what regulation did the CDS, (Credit Default Swaps, and the CDO, Credit Default Options came under, also, what other exotics devices are being sold?

HEY RICK , YOU KEEP SAY ING THE GUNS ARE THE PROBLEMS, GUESS WHAT GUNS DONT KILL PEOPLE ,PEOPLE KILL PEOPLE , YOU'D LIKE TO INTERFARE IN THE 2ND AMENDMENT TO HELP A FORIEGN COUNTRY WICH IS COURUPT , WHAT WE NEED IS TO DEPORT ALL THE ILLEGALS AND GAURD OUR BOARDERS , AND NOT INTERUPT OUR RIGHTS TO HOLD GUN SHOWS BUY SELL TO WHOM EVER , REMBER CONTROL THE BORDERS AND HOLD TIGHT TO OUR RIGHTS!!

Well Rick, I sent a comment regarding the GRID of all companies, banks, etc. However, I don't see it posted!

I could help but laugh, at what the President of Brazil had to say about. those certain types of people who had run the Gov or Corporate America. What I had notice is that he was not being racial and who's the retart that suggested it. If you haven't notice. The Latins of the world have a knack for speak that in that manner, which I must say...they lack the ability to be "articulate". Hm.. if you were to paint a picture of those who got to be where they are now or than. hm..I believe it was not about "what you knew", it was all about "who you knew". hm..I believe today and tomorrow will be about "what you know" and not about who you know. The word Pretentious, comes to mind when the president of Brazil spoke out. A certain class citizen tends to think in a manner that is Pretentious. Rick Sanchez

Rick Sanchez , an Idea came to mind. My glf is a Doc and I see her pain. She works hard and cares a GRT deal in what she does. She spent 10 yrs of schooling and $350, ... to $400,... in detd. She helps to save lifes. Hm..when you become a DOC . You must sign some about ( Ethics) . Now if you wore found to practice or commit something unethical. If your found to be guilty. hey...you are stripped of your career and ect... How about coming up with a Ethic policy on the Financial institution or those who inspire to make it career and who than we so............much with our money, which is so....part of living. Just a thought. "God we need more people with a vision "

Senators and Congressmen should NOT be allowed to serve for life!! Maybe if we had "fresh" ideas we'd not be in this situation. Why not pass a bill regarding term limits? Let them serve two or three, take a break, and then if they desire, run again for office. I have to believe there are more than 1,000 smart folks in a population of over 300 M.

"Regulation" is the republican way of saying "big daddy is looking over your shoulder". When "regulation" was suggested, the cries and votes for "de-regulation"were loud and many. I don't know alot of people who want their personal lives "regulated". Their money...is a whole different story.

Have you noticed everytime Obama opens his mouth jobless rates goes up, oil price go crazy, more American money is given to Africa and Latin America. He still has no jobs coming into America. There is no sense with Obama except to bankrupt this country to make one global nation.

Rick, we must stop listening to Rush.If we ignore him then he'll shut up.And he will not be repromanded because controversy makes money.Rush is one of the many cowards that is'nt man enough to say that he does not want a black president.That's what his little tissy is really all about.

Hi rick have u noticed everytime u open your mouth no budy belive u.

The Proposal"
When a company falls on difficult times, one of the things that seems to happen is they reduce their staff and workers.The remaining workers need to find ways to continue to do a good job or risk that their job would be eliminated as well. Wall street, and the media normally congratulate the CEO for making this type of "tough decision", and his board of directors gives him a big bonus.

Our government should not be immune from similar risks.

Therefore: . . . .
Reduce the House of Representatives from the current 435 members to 218 members and Senate members from 100 to 50 (one per State). Also reduce remaining staff by 25%.

Accomplish this over the next 8 years. (two steps / two elections) and of course this would require some redistricting.

Some Yearly Monetary Gains Include:

$44,108,400 for elimination of base pay for congress. (267 members X $165,200 pay/member per year.

$97,175,000 for elimination of the above people's staff. (estimate $1.3 Million in staff per each member of the House, and $3 Million in staff per each member of the Senate every year)

$240,294 for the reduction in remaining staff by 25%.

$7,500,000,000 reduction in pork barrel ear-marks each year. (those members whose jobs are gone. Current estimates for total government pork earmarks are at 15 Billion per year).

The remaining representatives would need work smarter and would need to improve efficiencies. It might even be in their best interests to work together for the good of our country.

We may also expect that smaller committees might lead to a more efficient resolution of issues as well. It might even be easier to keep track of what your representative is doing.

Congress has more tools available to do their jobs than it had back in 1911 when the current number of representatives was established. (telephone, computers, cell phones to name a few).

Note:
Congress did not hesitate to head home when it was a holiday, when the nation needed a real fix to the economic problems. Also, we have 3 senators that have not been doing their jobs for the past 18+ months (on the campaign trail) and still they all have been accepting full pay. These facts alone support a reduction in senators & congress.

Summary of opportunity:

$ 44,108,400 reduction of congress members.

$282,100,000 for elimination of the reduced house member staff.

$150,000,000 for elimination of r educed senate member staff.

$59,675,000 for 25% reduction of staff for remaining house members.

$37,500,000 for 25% reduction of staff for remaining senate members.

$7,500,000,000 reduction in pork added to bills by the reduction of congress members ..

$8,073,383,400 per year, estimated total savings. (that's 8-BILLION just to start!)

Here's a couple of questions for you, do you know what the money changers are, or who they are? How can this be a Capitalist country when we have a CENTRAL BANK? How can you pump Dollars into the Economy without it being an infusion of credit? Does anyone know what happened in 1913? ARE YOU REQUIRED TO PAY INCOME TAXES? WHAT DOES VOLUNTARY COMPLIANCE MEAN?

SORRY about all the questions, but they will never be answered, I know that. I also know that this comment will never be posted. Thanks a lot. We will get exactly what we deserve.............

OK...Seriously...The answer to solve most of these problems is as simple as three words,"North American Union'. How do you solve this health care issue? Take down the border between us and Canada, give everyone free health care....How do you solve this immigration issue? Take down the border between us and Mexico, their now their all Americans and now there is more of a population to be TAXED...This is already in procces but its not talked about. This process also requires a new currency and the rewriting of our most Sacred document..The New currency will automatically solve the bank issue....Or so you would think??????????

Yes, I agree, it's greed, thus the 125% mortgages the banks were handing out left and right. We received a letter from our mortgage company, who has our first and a home equity loan, that because the value of our home has dropped, they closed our line of credit. That's ok because shortly after that, I was laid off, like millions of others. Now the real problem is this, while the government is trying to save the banks, the auto makers and everyone else, who's controlling the prices of gas and groceries? In our little town in Northern Florida, the price of groceries has gone up about 30% and gas has risen to over $2 a gallon–no reasons given, just the "economy". Well, if average Americans couldn't afford to live on their income before, try living off of unemployment! The only jobs available in this area are minimum wage and pay the same or less than unemployment is paying–and it doesn't matter whether you are an experienced worker or not–where's the incentive to go out and work? The government won't have to worry about the flu taking over the country, malnutrition will start affecting people first!!