With all the furor over the $165 million in bonuses AIG paid out after the government bailed out the insurance monster to the tune of $170 billion in taxpayer funds, we thought it would be fun to see what else that money could have been used for (besides golden parachutes studded with diamonds and rubies).
$165 million = 3 million square feet of Lowe's Katrina Cottages*
After Hurricane Katrina, an estimated 300,000 buildings were destroyed, leaving thousands homeless. Even four years later, the damage has still left the citizens of New Orleans in a state of constant displacement. Lowe's Katrina Cottages offer an affordable solution to the trailer park or dilapidated tenements. And at $55 per square feet, the AIG buildings could have built 3 million square feet of housing on the 22-million-square-foot city.
$165 million = 307,262 Single-Family Houses Saved From Foreclosure For Another Month*
Admittedly the math is a little fuzzy here, but assuming you've taken out $50k on a subprime mortgage loan, and you're paying it back with a 10 percent interest over 15 years, you're eventually going to be paying $96,750. Your monthly payment is $537.50, and if AIG bonuses were divided up evenly, over 300 thousand homes could have been rescued from foreclosure for another month. Of course, last month alone saw 290,631 foreclosures, so really that money is just a drop in the bucket of our housing problem, which AIG caused.
$165 million = 471,428 one-way tickets to China
Continental Airlines is offering $315 one-way deals to Shanghai right now. AIG bonuses could have paid for a lot of us to get the fuck out of the country. Not like China's doing so great, but still…better than us!
$165 million = 165 million items off the dollar menu
Yo, pretty soon that's all we're going to be able to afford to eat, so it would be nice if those AIG execs treated half of America to a McChicken or two. Or a Frosty, as long as we promise to pay tax on it.
$165 million = 8,250,00 pills of Ecstasy
Hey, shit sucks right now, and as much as we don't condone illegal drug use here at Jossip, rolling your face off for a night (at $20 bucks a pop…so I'm told) will bring you back to those simpler college/high school days, when the only reason to keep your shitty Bennigan's job was to pay for your weekend proclivities.
$165 million = 4,364 free rides to a state school
Meh, at this rate the AIG guys might as well keep the money. Especially considering that the bonuses would only cover 825 young students' education for four years Wesleyan.
$165 million = 4,538 elementary school teacher salaries
Since the Obama budget doesn't seem to include a lot of education money, how about using some of that AIG bonuses for some underfunded schools or teacher's salaries? Or is that just too wacky of an idea to work?
$165 million = 165 World of Warcraft Fan Sites
Okay, here the issue isn't that $165 million bonuses, it's that a WoW fansite sold for one million dollars. God, just fucking nuke us already.
*Stats via Bob Villa.com
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1/40 of the cost of new helicopters for Barack.
just to put this in perspective.
when were the helicopters ordered? who was prez?
@weezy: try this comparison on for size:
$165,000,000 bonuses to AIG
$180,000,000,000 total bailout to AIG. $30 billion from Obama.
$50,000,000,000 annual budget of Homeland Security Dept.
Over three times the Homeland Security budget is going to AIG and the White House doesn't' even know who is in charge of it!
What’s going on in this administration? It seems like an administration in disarray. Obama is the guy flushing billions of taxpayer money down the toilet RIGHT NOW, and all the lame weezy's of the world can squawk is "BUSH, BUSH, BUSH". He's gone, weezy! Your guy is in charge and he is screwing up!
calm down fanofgrendel–all i'm saying is charge obama with the messes he creates–don't keep sticking him with bush's messes–bush ordered the helicopters, that goes on his bill.
but the chicken little act is getting old. the sky has been falling for a while now, didn't just start happening january 20th.
@weezy: Oh somebody has been in this AIG thing well before January. Timothy Geithner, as head of the New York Federal Reserve, organized the original bailout of AIG last fall. This has been his baby from day one. Obama picked him for Treasury Secretary and he is Obama's guy. His chickens are coming home to roost and they are not little.
Obama Received a $101,332 Bonus from AIG
Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org.
Change you, me, your dog, and the paperboy can believe in.
Anyone have life insurance with AIG. who cares about the management having anything. What about the honest hardworking people who have their 401k(s) invested. What about the families who have life insurance with AIG and in these hard times are relying on that insurance in case of a death in the family? It's easy to focus on the corruption and forget the hard working Americans that stand to lose alot more.
Not that I voted for him But Barrack Obama is our President and therefore deserves our allegiance. It's easy to complain but what have you done for your country besides sit back and complain? Quit complaining and do something in your life for your country. Not because you get something out of it but because you will actually stand up and be counted!
if i got that money i'd spend it all on a date with fanofgrendel
@fanofgrendel:
i'd put you in charge of the bailout cause you the only guy who seems to know anything about anything for sure these days you know
@And let there be light: A friend of mine works in the insurance industry (lucky him) said that AIG separated the insurance arm of the corporation into its own entity so that it is safe from any fallout/bankruptcy by AIG as a whole. Whether or not that will actually work remains to be seen, but if AIG goes under, policies should be ok.
Gee FANOFGRENDEL. For someone that is so angry you sure are a chickenshit. Everything is going to be O.K. If I were you, I would be more worried about the next pandemic, which scientist say is likely to happen soo…shit. Sorry. I know what a little pussy you are already. That information could send you over the edge.
@Just Saying:
hey! dont you talk to fanofgrendel that way.
i got his back and he got mine.
There no such thing for Obama, as the buck stops here. With Obama its always gonna be the other guys fault. He is contacting his "little acorns" to spread the word to get his agenda passed. His numbers are dropping so he is (for the first time in history) going on Leno as a sitting president. This man has done everything possible to diminish this country and to lower the standards of the POTUS.
Remember, not one Republican voted for this piece of crap legislation. Obama and the democrats OWN it.
Yes, Rhonda! Acorn is all around you, AND THEY ARE GOING TO GET YOU!
@Just Saying: Now that Obama's so-called stimulus bill contains more funding for Acorn, they just may get us.
Rhonda? FANOFGRENDEL might let you share his bomb shelter if you're nice to him. Oh, wait. He's a right wing conservative. No compassion. Sorry, Rhonda. I geuss you're shit out of luck.
The 165 million along with the $150 million spent by Obama inaguration could have essential bought twice as much. when will the people wake up…
WASHINGTON (AP) — Fannie Mae is planning to pay retention bonuses of as much as $611,000 each to several top executives of the government-controlled mortgage finance titan. Sibling company Freddie Mac is planning similar awards.
Well, I guess things are well under control. Let's just fly off to appear on the Tonight show and cheapen what's left of the presidency.
Maybe Bill Ayers IS really running POTUS?
Who is "Barack"? Do you mean President Obama? In that case, he did not approve the assembly of those helicopters. A little research and courtesy go a long way.
Just Sayin,
Let the "little acorns" come, I have a little surprise of my own.
@B. Carter: Nothing has been canceled yet. Yesterday a bipartisan group of 13 House members urged President Barack Obama to scale back plans for a fleet of new presidential helicopters rather than cancel …
A little research goes a long way.
This place is getting invaded with right wing nuts today. They must really be SCARED! Not that it's hard to scare them, that is. Just say "socialism" and Rhonda pisses her pants. She doesn't even know what real socialism means. She must be old. Well…old and stupid.
Oh Rhonda. Keep talking the talk. don't bother claiming you could ever walk the walk. I can tell from the fear in your writing that you would be cowering in the corner of your basement if ACORN ever came to your front door. Ignorant people are always afraid, and you, Rhonda, are no exception.
@fanofgrendel:
hey man we got some stuff to discuss some more
you free now or later? where you at?
Just Saying,
hey, lib, you forgot fat, racist, etc all your favorite put-downs
Rhonda. You should really stop looking in a mirror when you type.
@Just Saying: if you can't be just saying something nice, then don't be just saying anything at all.
Doesn't apply to me though.
@fanofgrendel:
what up with you man? we got some things to discuss some more
i got all day. i dont go to work til midnight. i got access to computer at work after midnight if you not free til midnight. where you at?
@fanofgrendel (and rhonda)
"Maybe Bill Ayers IS really running POTUS?"
yes, he is, and he has hidden obama's fake birth certificate in a top secret place (with the koran he was sworn in on). at night, he and obama practice their muslim religion and conspire the take over america. first he wants to ruin it with socialism (although that isn't compatible with his muslim religion) he and "black panther" michelle are also busy conspiring to get revenge on the UK because of the UK's role in the history of slavery, but their meetings run short because of michelle's nightly work outs to tone her arms for display. while he enjoys his daily sport of killing babies and harassing fat people, he is gratified in the knowledge his little acorns everywhere are spreading his false word.
if only things were on the bright path of the past 8 years.
@weezy: I actually kind of like Michelle. She should replace Biden.
Hey FANOFGRENDEL, looks like you might have yourself a friend in SAYTHATSCOOL. You might not even have to pay him.
….but he doesn't spell your name in upper caps. You might have to spank him for that transgression.
@Just Saying: You are bad, I must say :)
@Just Saying:
i cant understand why fangrendel wont say hey to me
yesterday he was like all hey you but today he's like no
you guys got fangrendel's email? you know where he at?
i got a profile on gawker (under saythatscool) where he can leave me private messages
@fanofgrendel:
my head is hurting again so i'm getting offline for a while i'll be at work at midnight i'm gonna borrow my supervisor's computer to check for messages from you here and on gawker. see you then
@saythatscool: go to a gay blog to find your honey, you a getting to be somewhat disgusting!
@DONT TREAD ON ME: I don't think Fan is interested, move on!!
weezy, that was beautiful.
but shame on you for spilling the cabal's secrets. ;)
@anon: Hello ANON my old friend. You've come to talk to us again.
Socialists…
The 90% tax on the bonuses is unconstitutional. So what? The contracts had already been made, I find it disconcerting to see that congress can act so swiftly and without judgment over a mob mentality attitude towards those that received the bonuses.