Strengthening Constitutional Self-Government

No Left Turns

Bonus Babies

What percentage of the bonuses everyone is complaining about will go to taxes? Might it be as high as 40-50% between New York City, State, and the U.S., for those employees who live in the Big Apple?

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I've a brother-in-law who works for AIG, is an Exec, and is one of those receiving a bonus. Now he doesn't work for their FPD {Fin. Products Dv.} in New York City, which is ground zero, but his salary contract included a bonus provision. He's only worked for AIG for about a year, and he works for one of the divisions that made money for AIG, was well-managed, and which AIG is looking to get out of their hole by selling, {there are several interested buyers}.

Execs WERE informed that their bonuses would not equal that amount their contracts provided for. And Execs who performed well, made money for the company and their shareholders, are nonetheless paying for the insanity that prevailed in the FPD.

As for my brother-in-law, well, because he listened to me, he obtained an on-the-side insurance policy that should he be let go, he'll receive his salary for additional three years. Others are not so fortunate. Now he hasn't been let go yet, but his situation is very much up-in-the-air, and he has, like most executives, been privately informed to start looking.

In their neighborhood, "for sale" signs are popping up all over the place, which is naturally driving down realty value.

Meanwhile, the two men most responsible for this nightmare, Senator Dodd and Congressman Frank, appear almost daily before the camera foaming at the mouth in outrage at "the waste" of hundreds of millions of dollars, while simultaneously ignoring the waste of hundreds of thousands of BILLIONS of dollars.

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