Comments on: The War On Contracts http://www.getrichslick.com/the-war-on-contracts/1131/ Getting Rich Slick® has never been so easy... Sat, 28 Jan 2012 05:13:05 +0000 hourly 1 http://wordpress.org/?v=abc By: fathersez http://www.getrichslick.com/the-war-on-contracts/1131/comment-page-1/#comment-54101 fathersez Mon, 30 Mar 2009 13:41:50 +0000 http://www.getrichslick.com/?p=1131#comment-54101 Malaysian bankruptcy laws allow for changes in contracts entered into 6 months before bankruptcy...at least I think so. Anyway, I thought banks were famous for inserting clauses like.....this and that can be changed at any time for any reason whatsoever.... It would seem so if you look at loan agreements from almost any bank anywhere. Maybe AIG's legal people were also due the bonuses. Malaysian bankruptcy laws allow for changes in contracts entered into 6 months before bankruptcy…at least I think so.

Anyway, I thought banks were famous for inserting clauses like…..this and that can be changed at any time for any reason whatsoever…. It would seem so if you look at loan agreements from almost any bank anywhere.

Maybe AIG’s legal people were also due the bonuses.

]]> By: RichSlick http://www.getrichslick.com/the-war-on-contracts/1131/comment-page-1/#comment-54100 RichSlick Sun, 29 Mar 2009 23:17:37 +0000 http://www.getrichslick.com/?p=1131#comment-54100 massive inflation is coming, it's just a question of when it will hit. massive inflation is coming, it’s just a question of when it will hit.

]]> By: wally http://www.getrichslick.com/the-war-on-contracts/1131/comment-page-1/#comment-54099 wally Wed, 25 Mar 2009 21:04:38 +0000 http://www.getrichslick.com/?p=1131#comment-54099 Slick, Just wondering what you thought of this article I found at another PF website: http://www.wisebread.com/stag-hyperinflation thanks Slick,

Just wondering what you thought of this article I found at another PF website:

http://www.wisebread.com/stag-hyperinflation

thanks

]]> By: wally http://www.getrichslick.com/the-war-on-contracts/1131/comment-page-1/#comment-54097 wally Sat, 21 Mar 2009 13:47:51 +0000 http://www.getrichslick.com/?p=1131#comment-54097 I also love how these same congressmen were also looking to void all the contracts of the GM employees 2 months ago. I agree with slick, it may suck that they have to pay them, but a contract is a contract. If you are going to opt out of the contract, usually there is some form of monetary compensation as well. I also love how these same congressmen were also looking to void all the contracts of the GM employees 2 months ago. I agree with slick, it may suck that they have to pay them, but a contract is a contract. If you are going to opt out of the contract, usually there is some form of monetary compensation as well.

]]> By: the weakonomist http://www.getrichslick.com/the-war-on-contracts/1131/comment-page-1/#comment-54095 the weakonomist Fri, 20 Mar 2009 12:18:00 +0000 http://www.getrichslick.com/?p=1131#comment-54095 It is strictly written in the Constitution that the federal government cannot break contracts between two parties. Congress couldn't stop the AIG bonuses, but now they are trying to tax them at 90%. This is a retroactive tax (forbidden by the Constitution) and potentially a punitive tax (arguably also illegal). Geithner authorized the bonuses because he knows there was nothing he could really do to stop them. As bad as he is at his job, he got this one right. It is strictly written in the Constitution that the federal government cannot break contracts between two parties. Congress couldn’t stop the AIG bonuses, but now they are trying to tax them at 90%. This is a retroactive tax (forbidden by the Constitution) and potentially a punitive tax (arguably also illegal).

Geithner authorized the bonuses because he knows there was nothing he could really do to stop them. As bad as he is at his job, he got this one right.

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