Glenn Beck rips Conn. Attorney General about the LAW & AIG
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Grim17-
Number of posts : 430
Age : 59
Location : Phoenix, Arizona
Registration date : 2009-01-17
Re: Glenn Beck rips Conn. Attorney General about the LAW & AIG
hey grim.
i know you like glenn beck, but i gotta tell ya - he is totally off base here - plain and simple. and if he would have shut up long enough to listen to what blumenthal was trying to explain, he might have learned a thing or two...
this aig bonus issue has constantly been in our local news - tv & papers - for several days now....
first of all - NO ONE knows more about connecticut law than blumenthal does. this freakin' guy is brilliant. and don't mistake his subdued reactions to beck as a sign of weakness - he's ALWAYS like that! i don't think i've ever seen him get worked up.
anyway, i'm gonna try to explain this as it's been covered here in ct:
based in new york, aig has a branch here in wilton ct - "home" to the financial products unit - the bonus money was paid in the state of ct = blumenthal's jurasdiction.
when all hell broke loose about the $165 billion bonuses, and everybody was screaming at the government and aig not to pay the money, aig/benanke/etc said the bonuses HAD to paid because of the ct state law = CT Wage ACT, which could potentially triple the $165B if lawsuits were filed and won because of broken contracts. this is false = bonuses are not considered wages in the CT Wage Act, so aig/benanke/etc were trying to use this Act as a way to cover their own asses. blumenthal busted them on this.
HOWEVER... there IS a state law here in ct = Connecticut Unfair Trade Practices Act that may prevent the bonuses from being viable. this is what blumenthal was trying to explain to beck, and is also the issue he is discussing with washington d.c. honchos to invalidate the bonuses.
THEN, on top of everything else, paperwork came across blumenthal's desk showing payments totalling $218 billion in aig bonuses were paid before the mar. 15 deadline, instead of the $165 billion that was the previous total. this raised a red flag with blumenthal, who in response, sent out subpeonas to aig execs for an explanation of the additional $53 billion bonus money - which he has every right, and actually an obligation, to do.
beck was wrong on this one, grim.
CV
i know you like glenn beck, but i gotta tell ya - he is totally off base here - plain and simple. and if he would have shut up long enough to listen to what blumenthal was trying to explain, he might have learned a thing or two...
this aig bonus issue has constantly been in our local news - tv & papers - for several days now....
first of all - NO ONE knows more about connecticut law than blumenthal does. this freakin' guy is brilliant. and don't mistake his subdued reactions to beck as a sign of weakness - he's ALWAYS like that! i don't think i've ever seen him get worked up.
anyway, i'm gonna try to explain this as it's been covered here in ct:
based in new york, aig has a branch here in wilton ct - "home" to the financial products unit - the bonus money was paid in the state of ct = blumenthal's jurasdiction.
when all hell broke loose about the $165 billion bonuses, and everybody was screaming at the government and aig not to pay the money, aig/benanke/etc said the bonuses HAD to paid because of the ct state law = CT Wage ACT, which could potentially triple the $165B if lawsuits were filed and won because of broken contracts. this is false = bonuses are not considered wages in the CT Wage Act, so aig/benanke/etc were trying to use this Act as a way to cover their own asses. blumenthal busted them on this.
HOWEVER... there IS a state law here in ct = Connecticut Unfair Trade Practices Act that may prevent the bonuses from being viable. this is what blumenthal was trying to explain to beck, and is also the issue he is discussing with washington d.c. honchos to invalidate the bonuses.
THEN, on top of everything else, paperwork came across blumenthal's desk showing payments totalling $218 billion in aig bonuses were paid before the mar. 15 deadline, instead of the $165 billion that was the previous total. this raised a red flag with blumenthal, who in response, sent out subpeonas to aig execs for an explanation of the additional $53 billion bonus money - which he has every right, and actually an obligation, to do.
beck was wrong on this one, grim.
CV
Susan aka CV- Number of posts : 380
Location : Connecticut - for now anyway
Registration date : 2009-02-28
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