March 18, 2009


Posted: 07:54 PM ET

You're outraged.  You're ticked.  You're feeling things we can't print on a family blog.  So you can't wait to sound off on our question of the day:

Is Washington doing enough to get the AIG bonus money back?

SPEAK UP!  We may use your comments on the show.  Remember the blog golden rules:

1) Stay on topic.
2) Keep it short
3) No curse words
4) No links
5) Use a name (no initials or screen names)

Filed under: AIG • Larry King Live • Question of the Day

Share this on:
Valerie from Oklahoma   March 18th, 2009 8:06 pm ET

Larry, Since we as tax payers now own 80% of AIG, why not fire those idiots who were running this company and put some of us, taxpayers in there to run it. I'm sure we'd do a much better job than those idiots. Besides who better to watch over our on money than one of us.

Dodie from Irvine CA   March 18th, 2009 8:38 pm ET

I want names of those on Wall Street and government officials who received OUR tax monies. Who else did AIG pay billions of dollars to besides those listed below.

$12.9 billion to Goldman Sachs (NYSE)
$11 billion to Societe Generale Bank Egypt
$7 billion to Barclays – England
$6.4 billion to Deutsche Bank – Germany
$4.9 billion to BNP Paribas – France
$3.3 billion to HSBC.
$6.8 billion to Merrill Lynch
$5.2 billion to Bank of America ($12 billion including the Merrill Lynch)
$2.3 billion to Citigroup
$1.5 billion to Wachovia

((( AIG is synonymous with financial terrorism )))

I come cheap... If I put my hand out can I have $1,000,000. I don't need any more.

I think the concern for bonuses paid is a distraction for the hundreds of BILLIONs of dollars paid by AIG

LM   March 18th, 2009 8:43 pm ET

AIG is very troublesome, and I am sure the President will soon intercede further. Those who received bonuses should be made to pay them back. The other questions are: why is the Congress receiving a COLA??? Why did Nancy Pelosi and staff go on a trip to Italy??? Everyone in American, rich and poor, are struggling to meet their own needs, i.e. mortgage payments, rent, health insurance, school tuition, etc. This is an outrage, as well.

Bill   March 18th, 2009 9:04 pm ET


It seems to me that the government in the past has been able to step in whenever a company might become a monopoly. Why is it that an insurance company (AIG) can be allowed to grow so large that their failure could cripple our economy.

Why wouldn't a company such as this be broken up into smaller segments so a failure of any one segment couldn't destroy our economy?

Lugoff, SC

Midstate08   March 18th, 2009 9:05 pm ET

Sen Dodd has proven that the crooks are not only CEO's they are also in Congress. Is anyone investigating whether he is involved with AIG? Why else would he ( and others ) put that dumb of a piece of legislation together.

Midstate08   March 18th, 2009 9:08 pm ET

Larry Do you think any of the congress men and women would like to have a chance to read the stimulus plan before voting on it now! NEVER sign anything without reading it !

Purnell Kankakee IL.   March 18th, 2009 9:10 pm ET

AIG is Blackmailing the Government saying that they will not spell out how derivatives work if they do not get these bonuses, that is criminal and they should be put in prison right now! That is why our markets do not work right now!

Midstate08   March 18th, 2009 9:10 pm ET

Larry DO you think that any of the congress men and women would like to READ the stimulus plan BEFORE voting on it now. Maybe they would have seen stuff like Sen. Dodd put in there.

Ed Hull   March 18th, 2009 9:11 pm ET


I want to bring to the attention of our congressional members that are up in arms about wasteful spending with AIG, that their "pork" spending with the taxpayer's money isn't a lot different than the stones they are now throwing at the AIG folks! Maybe if the American people got as loud and upset with the members and our own representatives, they might see that their jobs might not be secure as well. Maybe we should ask them to step aside for the wrongful spending they have perpetrated on the US Taxpayers?


Midstate08   March 18th, 2009 9:13 pm ET

One thing I have learned is this .
When things are going well for our country ( when Clinton was in office) nobody cared what he did ( monica for example ) but Washington better pay alittle closer attention now. People do care.
Second I have also learned that never mess with another mans money ( WE ) get really ticked off.

Purnell Kankakee IL.   March 18th, 2009 9:13 pm ET

Those people at AIG should be in prison for trying to hold the people of America hostage by saying that they will not explain how they put into action the derivatives in the marketplace. That is Blackmailing the government!

WE need to fire these people and not pay them anything put them in prison for a few weeks that will loosen thier tounges about derivatives!!!

Midstate08   March 18th, 2009 9:14 pm ET

Ed I agree with you 100% very well put. WE need to send this to all of our congressmen and women.

Adrian   March 18th, 2009 9:15 pm ET

Since these are supposed to be retention bonuses, i have a solution. Ask the exec's to accept stock in AIG as their bonus... that will actually give them an incentive to make the company profitable once more. An

Larry   March 18th, 2009 9:18 pm ET

I am a college student from a working class family. I cannot believe how the AIG company is really considering giving bonuses to people who may not even be working for them. I understand this as being unethical and just wrong. I hope the government passes a bill that will require the company to give the bonus money back to the tax payers of this country.

Midstate08   March 18th, 2009 9:18 pm ET

Larry If the government ( WE THE PEOPLE) own 80 % of AIG then why doesnt the government revoke the bonuses. The place that I work would revoke our bonuses first if they were in finacial trouble. We may not like it but I would rather lose my bonus than lose my job. No Job No Bonus

adrian from tampa   March 18th, 2009 9:19 pm ET

Force the exec's to take stock in AIG as payment of these bonuses. They were for retention after all

Midstate08   March 18th, 2009 9:19 pm ET

very good point Adrian.
I say have congress cut their salaries and perks and pay them the bonuses if they think they need them that bad.

Larry   March 18th, 2009 9:20 pm ET

I agree, one of us should run the company. If i ran the company, i would give all the bailout to the tax payers and encourage them to go out and spend it on things for their families. That may get us out of this recession.

Dodie from Irvine CA   March 18th, 2009 9:20 pm ET

Good Evening Larry

I want names of those on Wall Street and government officials who received OUR tax monies. I want to know those people who are 'stealing' from us.

The concern for bonuses paid is a distraction for the hundreds of BILLIONs of dollars paid by AIG. If we run a company into the ground, we would file chapter 11. Why not AGI! What does AGI have over our government that it can NOT be allowed to file chapter 11.

I vote that we tax these bonuses at 99% separately allowing for NO deductions . That way, we can recapture at least some of our money.

Purnell Kankakee IL.   March 18th, 2009 9:22 pm ET

Didn't the Repbulicans stand in the way of any limiting of these same bonuses during this whole mess, and they still are standing in the way.

How can AIG say that these people are the best and the brightest if they are the same people who did not know how these ventures would effect the entire county and our markets. Would any of you keep these rogues on if it were your businesses? I think not!

Why do they always take care of big business before they ever think of how it may affect the American people?

Midstate08   March 18th, 2009 9:23 pm ET

The worst thing about all this AIG stuff is that we are becoming the laughing stock of the world. The government is not only losing their credibility with its own people but they are losing it around the world.

Midstate08   March 18th, 2009 9:27 pm ET

Purnell How do you think the rep were or are standing in the way? Didnt the dems start this stimulus plan and didnt Sen Dodd ( a dem ) put those provisions in the stimulus plan. By the way he admitted to it today. So I believe the dems need to quit pointing fingers the rep way and figure out they are going to have to start owning up to some of this mess. Its their administration now and their Congress ( that passed it without reading it ) so look within not on the other side of the aisle.

Purnell Kankakee IL.   March 18th, 2009 9:29 pm ET

I thought that Government did not negotiate with blackmailer and terrorist!!! Or has this country become so weak that it has given up on that policy!!!

Midstate08   March 18th, 2009 9:30 pm ET

We need congressional election every year. I dont know if we can handle two years of some of these guys ( or gals )

Purnell Kankakee IL.   March 18th, 2009 9:31 pm ET


I am not talking about the stimulus plan i am talking about the bailout that happened under Bush last year!!

Purnell Kankakee IL.   March 18th, 2009 9:33 pm ET

I am not a Dem. or a Repub., I am a Independent voter and proud of it!

Dodie from Irvine CA   March 18th, 2009 9:33 pm ET

I certainly hope we have learned our lesson from AIG. Always have regulations in place with large corporate America. I would like to know who has the power in the Treasury to convince Sen Dodd, allowing for or write the clause that nullified AIG restrictions .

Midstate08   March 18th, 2009 9:33 pm ET

How many democrats does it take to change a light bulb? All of them. One to change it and the others blaming the republicans for burning it out.

adrian   March 18th, 2009 9:34 pm ET

And, to add to my previous comment, Those who refuse the stock as payment should all be put on a list and distributed it to all the people that live in their are that are currently surviving on unemployment compensation. Let them go sit on these exec's doorstep

Purnell Kankakee IL.   March 18th, 2009 9:36 pm ET


I agree if we have to pay them pay them in stock, and make them keep it for 1 year before they can sell it!!!!

Midstate08   March 18th, 2009 9:38 pm ET

Purnell Wasnt Obama going to watch out for " reckless spending" of tax payer dollars. were is the savior of America now. Standing up there taking the heat unlike he was doing on the campaign trail. He always blamed everyone else then but now that he cant be removed then he admits to making mistakes. Guess he is not perfect like everyone thought. He is only a couple of months into this mess and Im really wondering if this inexperienced man was the right guy for the job. He sure has picked some duzzies for cabinet posts.

Purnell Kankakee IL.   March 18th, 2009 9:39 pm ET

Have any of you watched Network before in that movie the guy in charge said that thier are no counrties, there are only coporations who run the world!

Dodie from Irvine CA   March 18th, 2009 9:40 pm ET

@ Midstate08

I don't think laughing stock of the world. I think many countries are angry at us for dumping the economy. I watch the president of China make a terrible face whenever they discuss.... should they continue to bail us out. We already owe them almost $ 2 trillion. If we flop, they will either lose all that money or own 2/3 of USA land.

Pretty sad

Midstate08   March 18th, 2009 9:41 pm ET

What they need to do is tell the execs that they will not be given their bonuses this year because we do not have the money. If they complain remove them and replace them with someone that wants a job. The unemployment rate seems to be climbing so their is surely some people looking for a job.

Purnell Kankakee IL.   March 18th, 2009 9:42 pm ET


Could you change all those poeple in Congress, the FED. and Treasury in a two month period, i think not, All of them have to work together to fix the many problems that this country has, or would you just like to sit on the side lines and complain like you are doing right now!

Barbara P. Gaffney, SC   March 18th, 2009 9:44 pm ET

Funny how the Democratic Senator from CT was the one that put the language about the bonuses into the bill. After all AIG's headquarters is in his state. I think we need a more thorough investigation into his role in this fiasco.

Midstate08   March 18th, 2009 9:44 pm ET

Dodie it is pretty hard to be taken seriously by anyone if they dont believe in us. They surely dont trust us with their money if we cant handle our own.

Purnell Kankakee IL.   March 18th, 2009 9:44 pm ET

If we do not get our markets up and running China will buy it all up for pennies on the dollar, like they are doing right now!

Purnell Kankakee IL.   March 18th, 2009 9:45 pm ET

We do not have money in this country, we have debt which we call money!

Dodie from Irvine CA   March 18th, 2009 9:47 pm ET


They... I assume other countries... NEVER trusted us! They just tolerate us and want some of our money. Must countries hate us. I have been trying to get a Canadian passport as many parts of the world, it is NOT safe to travel as an American

Purnell Kankakee IL.   March 18th, 2009 9:48 pm ET

Senator Dodd F up and he will be paid back by the peoples of his state!

Dodie from Irvine CA   March 18th, 2009 9:49 pm ET

Purnell Kankakee IL

Laughing... Yes you are so correct. When I first went to china it was 10 RMB to the American dollar. Now it is 6 RMB to the dollar. Not very good in only 9 years.

Midstate08   March 18th, 2009 9:49 pm ET

Purnell I am not just sitting on the sideline Im working 18 hours a day paying taxes and that gives me a huge right to complain when I see a bunch of stupidity in washington. Porck barrel spending witch McCain wanted to put name tags on and Obama wont. In other words if you want wastefull spending put your name on it and let the american public know about it . You cant just throw money at a problem that doesnt fix it. Our dollar is worth less every day.

Purnell Kankakee IL.   March 18th, 2009 9:51 pm ET

Dodie from Irvine CA

I am applying for residecy in Canada, becasue there is no way that the insurance companies will do anything that will end their fake industry for universial healthcare not health insurance, thay are not the same thing! I will be keep my U.S. Citizenship at the same time, 6 y months here each year and six months in Canada!

Dodie from Irvine CA   March 18th, 2009 9:52 pm ET

@ Midstate08

The march is tomorrow across the US regarding our irritation with AIG. I am taking off work so I can participate. Are you?

Purnell Kankakee IL.   March 18th, 2009 9:52 pm ET

Dodie from Irvine CA


Midstate08   March 18th, 2009 9:52 pm ET

My Great Uncle Louis told me about nine years ago that China will some day own America. He passed away four years ago and I starting to wonder if he is going to be right. I laughed then but not laughing anymore.

Ludovic Canada   March 18th, 2009 9:53 pm ET




Purnell Kankakee IL.   March 18th, 2009 9:53 pm ET


So did Preston Tucker when the Automaker shut him down!

Midstate08   March 18th, 2009 9:55 pm ET

Dodie I have a Contractual obligation to my job and family. Hey it worked for AIG so it has to work for me. Besides come work my two jobs and I'll go.

Purnell Kankakee IL.   March 18th, 2009 9:55 pm ET

Dodie from Irvine CA

You are right if we march like they do in Europian counries, then we can change the bad thing in our country. The people shouild not be afraid of their government, the government should be afraid of the people!

Sherry Taylor   March 18th, 2009 9:56 pm ET

I want to know if President Obama, who received $101,000,000 from AIG for his compaign is going to return it. Also Senators, Clinton, McCain and many others received monies from AIG are they going to return it..I bet not

Purnell Kankakee IL.   March 18th, 2009 9:57 pm ET

Sherry Taylor

your number are far too high

Dodie from Irvine CA   March 18th, 2009 9:58 pm ET

Purnell Kankakee IL.

seems like a good idea. I like Canada.

@ Midstate08

Yes, its why l liquidated everything for the past 5 years and moved it all over to China. I could see this coming years ago. You can NOT spend more money than you bring in and not crash.

Actually, I am doing really good with the devaluation of the American dollar.

Purnell Kankakee IL.   March 18th, 2009 9:59 pm ET

the people are the power in this country!

Dodie from Irvine CA   March 18th, 2009 9:59 pm ET

@ Sherry Taylor

AIG paid everyone!!! they were not taking any chances. They paid baby bush over $200,000. Do you think he will pay that back? I seriously doubt that! LOL

Midstate08   March 18th, 2009 10:00 pm ET

My biggest concern is that we have at least two more years to remove congress men and women from office and I wonder if we have that long to survive this mess under this administration. Im not trying to pick on the dems but a democratic Congress and white house doesnt seem to be working. I was ask if I could change them in two months ( probably not Im republican ) but if His own people wont work with him how are we going to survive. My the democrats way is the wrong way. DO WE HAVE TWO YEARS TO FIGURE IT OUT?

Dodie from Irvine CA   March 18th, 2009 10:00 pm ET

Purnell Kankakee IL.

I completely agree with you

Purnell Kankakee IL.   March 18th, 2009 10:02 pm ET


because those regulations were removed in our market place we are in this mess, we all have to admit that!

Dodie from Irvine CA   March 18th, 2009 10:02 pm ET

@ Midstate08

It never really works any way. All Democs, All Repubs... or a mix of both. Personally, I would like to see a strong 3rd party possibly to help bring a well needed balance in this country.

Purnell Kankakee IL.   March 18th, 2009 10:05 pm ET

Dodie from Irvine CA

the dollar would go back up if we got rid of the Federal Reserve they are the ones devaluing our dollar. Until Congress does thier job which is to produce our money and not outsouce it again we will continue to have monerty problem in the future!

Purnell Kankakee IL.   March 18th, 2009 10:06 pm ET

Dodie from Irvine CA

the current rule are against a third party in our voting laws, we the people have to push far a change in those laws!

Purnell Kankakee IL.   March 18th, 2009 10:08 pm ET

The Dem party and the Repub party are two sides of the same coin!

Midstate08   March 18th, 2009 10:09 pm ET

I really hope I dont come off as complain. But I probably am. As a working class american that pays for his own health care and insurance and taxex ( unlike some politicians ) I truely believe We have a right to complain. But we need to be actively complaining to our senators and congressmen. When illegal aliens have more right and perks in our country than me and my family Im ticked. My wife has MS and cannot quit her job because they help her with her insurance ( not all of it but some ) or we would lose everything. If and when she has to quit her job because of her illness, the only way for us not to lose everything will be to divorce so she can get government assistance ( we make to much money otherwise ) and I believe that is not right. The octuplets mom can get assistance and the illegals can get assistance but the rest of us cant. SO am I complaining. YES

Purnell Kankakee IL.   March 18th, 2009 10:10 pm ET

the Dems have to learn not to over help people and the Repubs have to realize that people make up countries, business, home and familes!

Midstate08   March 18th, 2009 10:11 pm ET

NO THIRD PARTY ! WHY ! I believe in a no party system. That way there is no division based on party lines. People vote because of their parties not on what they believe in.

Purnell Kankakee IL.   March 18th, 2009 10:13 pm ET


To a point we have a right to complain here have a greater right to come up with a better idea, i send mine to the president that is why he has that website to stay i touch with the people, no one man or woman has all the anwers to our country's problems

Midstate08   March 18th, 2009 10:14 pm ET

time to go do school work with the kids thats one thing no one can take away from them. go luck to everyone goodnight

Purnell Kankakee IL.   March 18th, 2009 10:15 pm ET


The only prolbem with that is that they get to control everything, and they spend al, thier time fighting each other to stay in office, not solving our problems!

Midstate08   March 18th, 2009 10:18 pm ET

Purnell I agree with you on that one. I am just tired of the government being out of touch with the common man. I live in Nebraska the center of the U. S. Do you know how many times President Clinton visited Nebraska ? ZERO How many tiimes did obama campaign in Nebraska? ZERO. Arent they suppose to be going to washington for everyone?

Purnell Kankakee IL.   March 18th, 2009 10:19 pm ET


Their is too much help for people that are not citizens while we have to pay for it. what is so hard about going to get permission to come to our great country legally! We do not cross into anyone elses county with out perssion! just like we do not go into anyones home, car or business without permission! That is my biggest problem with illegal aliens they do not care about our laws at all!!!

lorenzo   March 18th, 2009 10:20 pm ET

I just heard that GW Bush gave a speech & made a joke about how he was the only person in the US who was able to buy a house this year. how sad, making a joke about most of us who have lost most of our retirement money & are out of jobs. he is out of touch w/the poor & middle he want 300 million for his library..I would say,"no library for me until this country gets back on its feet & we bring the troops home"....he should go & help the soup kitchens & volunteer in the VA hospitals....

Purnell Kankakee IL.   March 18th, 2009 10:21 pm ET

I can understand refugees coming here illegally but not the common person for a job, while they ruin somone elses ID!

Midstate08   March 18th, 2009 10:22 pm ET

The Canidates spent alot of time in Michigan and states like that but they didnt realize we have plant closings and lost jobs here two. Many of our biggest manufactureres have cut jobs and closed plants in little old Nebraka. I dont know if you have heard of the name brand Coleman ( camping equipment , stoves, grilles, all kinds of stuff ) National company closed it down. Washington didnt come calling.

Midstate08   March 18th, 2009 10:24 pm ET

I agree with you guys on that... I got to go got yelled at the second time LOL Cant tell Im worked up about washington can you LOL

Purnell Kankakee IL.   March 18th, 2009 10:25 pm ET

I my self have only been to 40 of our states during my 30 years, amagine being a Presideantal candiate for the U.S. you have two choose the state that tyou have a chance to win, but after you win it should be an honor to travel through our great country, there really are some very nice place to go and see, even mose so the people, who the President works for!!!

Purnell Kankakee IL.   March 18th, 2009 10:26 pm ET


LOL arent' we all!

Shannon   March 18th, 2009 10:38 pm ET

No. If Washington is serious about getting our money back, politicians would be supporting Mr. Liddy's decisions with regard to these bonuses and explaining to all of us why these bonuses were necessary to AIG. Mr. Liddy, the CEO of AIG certainly thought so and that is worth something. He is an upstanding citizen who is sacrificing for his country without a political agenda.

John   March 18th, 2009 10:46 pm ET

Purnell of Kankakee, IL. – You want to apply for Canadian Citizenship? Why would you want to threaten the nice people of Canada like that?

As for the recent budget packed with pork, I think we should add the names, addresses, and photos of Senators and Congressmen who stuffed all the pork down our throats and put them up on the Post Office Bulletin Board right next to the AIG Executives. Senator Dodd should be right at the top and perhaps Barney Frank right next to him.

You all may be interested in the rumor that large numbers of executives of Fanny Mae and Freddy Mae are lining up for their super sized bonuses as we speak. I seem to recall them being right at the top of this whole disaster with their practices of granting mortages to people who couldn't afford to pay them back, with I understand the encouragement of Barney Frank. I think the Post Office is going to need a larger bulletin board.

Shannon, OK   March 18th, 2009 10:46 pm ET

I see many comments about firing these people but, if it were that easy why wouldn't the CEO of AIG do just that? He's in charge of the company, he's only getting $1.00 per year and no stock options, why didn't he just fire these people and save the company $165 Billion dollars? I seems so obvious. Perhaps there's a legitimate reason why. Maybe it's just as he said, these people are needed because these policies are too complex and must be managed on a daily basis until they can be cleared from the books.

Its just food for thought.

Camille   March 18th, 2009 11:07 pm ET

I agree with Campbell Brown. How can we tell if Timothy Geithner is the person for the job or not. AIG is an empire.

Can you imagine someone stating on the shores of America and screaming I've come to fix the problem. This is so unrealistic. Well this is Timothy Geithner. If the team that is meant to help him isn't assembled soon, then how is he meant to be effective.

Again, AIG is more than a company, it's an empire.

Dodie from Irvine CA   March 18th, 2009 11:11 pm ET

@ Purnell Kankakee IL. and Midstate08

Really enjoyed the conversation tonight. Take care and have a wonderful evening. Sorry I dropped off... Got a long distance phone call from an old friend and became distracted.

Robert, Washington State   March 18th, 2009 11:22 pm ET

I am beginning to believe the “change” that President Obama was talking about on the campaign trail is the two cents I will have left from every dollar I earn.

I need to figure out how to get on the other side of this “change” and get the ninety eight cents of what others have earned.

Maryl-CA   March 18th, 2009 11:47 pm ET

AIG and their bonuses have turned into a pack of lies and "pointing the finger" as to who did what. It is a disgrace that "greed" has taken over this country! How can Washington allow this to happen and why are the American people being "used"? While AIG is being questioned fo their careless handling of money, we shouldn't be surprised if this ordeal becomes "business as usual"!

Purnell Kankakee IL.   March 18th, 2009 11:47 pm ET


I said residecy in Canada not citizenship learn the difference! It's like owning to home in two differnce states you are a resideny if you live 6 months out of a year in a state the same is true for countries!

Purnell Kankakee IL.   March 18th, 2009 11:52 pm ET


Residency Vs. Citizenship – What's The Difference?

Citizenship quite simply refers to the passport you hold or travel with. Since many countries honor and recognize dual citizenship, one option is of course to seek another citizenship, which may be more favorable to you with respect to travel or whatever other issues you may have (without giving up your existing passport). For example, if your current passport does not permit extensive visa free travel, and this is of importance to you, then there is an obvious benefit in having a passport that does. For US citizens, it is important to note that while the US passport does permit extensive visa free travel, it is also the worst passport in the world to own with regards to taxation matters. The US government does feel it has the right to tax both US citizens and legal residents alike (holders of Non US passports & US residency or Green Cards take note) on worldwide income. This is regardless of where the person is living. Ironically, the US recognizes dual citizenship, despite what rumors you may have heard to the contrary. If they did not, they would force the surrender of passports and notify the related countries in cases of foreign persons becoming new US citizens (which is what Germany does, as Germany strictly prohibits dual citizenship). It is interesting to also note that the US truly does not care about whatever other passports new citizens formally held, providing they pay up. That is to say, providing they pay into the US tax system, and continue paying. In this regard, they are truly democratic and without prejudice (taking tax money from all equally).
Let us take the issue of US passport holders first, who do not have a travel problem, but who do have a major tax problem. The obvious answer is maybe to travel as an American (should you wish to, just stay out of Arabic countries) and bank as another citizen. That is to say, acquire a second citizenship – second passport from a country that does not tax you on income outside of that country or does not tax you if you are a non-resident (which we will discuss in a moment). So, when you travel, you are Mr. or Mrs. United States passport holder, but when you do your banking or other business, perhaps you are Mr. or Mrs. Grenada (for example). There are some less expensive back door alternatives that are possible, should you not wish to go through the trouble or expense of a second passport (although getting a second passport certainly does not hurt).
European and many other citizens have it a little easier than US passport holders (citizens) in that their own country may fairly differentiate between being a citizen and being a resident. That is to say, RESIDENCY refers to where you legally live. Therefore, you may hold a Swiss passport (Swiss Citizenship), but you may be a legal resident of say the Dominican Republic, Ecuador, or somewhere else. Therefore, Switzerland may say, since you are not living full time as a resident of Switzerland, you are not obligated to pay tax to Switzerland. The logic is, you are not using the things you would normally pay tax for, so why should you pay? Things like salaries and costs for police, fire, road maintenance, schools, etc., etc. If you have no tax liabilities in the Dominican Republic, or a local tax rate that is a fraction of what it is in Europe (say 15% in the Dominican Republic vs. 60% in Europe), then you have effectively cut your taxes very legally by simply moving someplace else. This of course only applies if you are a citizen or passport holder of such a very fair country in Europe or somewhere other than the United States, that is.
Americans unfortunately do not have it so easy, but there still are a few wrinkles to the above mentioned second passport option. Namely, I am referring to permanent residency outside of the US. Does this mean you can legally eliminate US tax liabilities by obtaining permanent residency someplace else? The answer is NO. However, by obtaining a permanent residency status someplace else, this in and of itself opens the two to door things. First of all, remember that we said many banks or investment firms would not mail application forms to a US address? Well, many will gladly mail to Panama, Costa Rica, Brazil and a host of other places on the planet. Many banks and investment firms also (especially those in Europe) differentiate between citizenship and residency. For that reason, many will gladly open an account for a resident of Costa Rica, the Dominican Republic, etc., etc. (whereby they would not for a US resident). So, by having a residency document from someplace else, you now possibly become available as a client whereby they would not touch you before. Therefore, it is important to understand the difference between being a citizen of the US and being a legal resident of the US (or somewhere else), and using this information when asking about such accounts.
In addition to this, many banking systems around the world (US included) are not sophisticated enough to differentiate between citizenship & residency. For example, US banks will code your account with a social security number, or without. The meaning is, if you are a US citizen or legal US resident (foreign passport holder with a green card) the logic is you have a social security number. If you do not, then you are a foreigner, period. So, perhaps either you are a 1 or are a 0 as far as the computer system is concerned (for example). The same may be true in Ecuador, Panama, Hong Kong and a whole lot of other places. So, perhaps when opening your account as a resident, this will get you coded the same way as a local citizen in the computer system. As a result, your account does not appear on the computer-generated list when the foreign government comes a calling to check up on it’s own citizens that have accounts (for tax purpose of course). Now you know.

Purnell Kankakee IL.   March 18th, 2009 11:58 pm ET

Robert, Washington State

Change is very hard when the other party (s) do not want change, unless they get invloved and make the effort to change it will never happen to the whole country. Change is easy when it only affect you alone, but when it come to an entire country everyone concerned has to push their repersentive in that direction, or they will fall back to their old game of taking thier marching orders from the companies that give them money to stay in offcie! And we all know it!

Purnell Kankakee IL.   March 19th, 2009 12:02 am ET


Unitl the Amrican people riot the Congress will never do what the people want.

The people shouild not be afraid of their government, the government should be afraid of the people!

The people are the power in this country not their repersentives!!!

Bobbie   March 19th, 2009 12:08 am ET

It's interesting to me that Senator Chris Dodd was allowed to contribute to any decisions in regards to AIG, since AIG was a big financial supporter for his campaigns. Isn't this a conflict of interest? What was Dodd promised from AIG for his last minute provision into the stimulus bill? Was this to pad his own pockets and show his loyalty to AIG for what they had paid to his campaigns; or was this done to try to make President Obama the scapegoat? As for the AIG bonus takers and Dodd's actions, what has happened to doing things for the good of the nation versus greed and selfishness? Where has Character and decency gone? Shame on all of them.

Purnell Kankakee IL.   March 19th, 2009 12:09 am ET

Shannon, OK

They are basically blackmailing the government and our Congress is full of weak fools! What they are really saying is give us your money and we get to rape the American people and we can not do anything about it. Because they will not tell how the government about how derivatives work so that they can hold our credit markets hostage until they get as much of or money as they want!

Purnell Kankakee IL.   March 19th, 2009 12:11 am ET

AIG actions fall under the Patriot Act for blackmailing the government, I can't stand the Patriot Act for terrorist actions against the American People!

Purnell Kankakee IL.   March 19th, 2009 12:16 am ET


Bush has no honor to speak of , his whole clan if full of childmolestors and traitors to this country!

Remeber IBM and the machines that the Nazis used to track the Jewish people in the camps, Prescott Bush was aaprt of that mess. And Bush father was part of the child molseting mess at boys town!

Robert, Washington State   March 19th, 2009 12:19 am ET

Lets have a tea party!!!!

Josh Lentelle   March 19th, 2009 12:21 am ET

"The Amendatory Act to the Trading With the Enemy Act of October 6, 1917"
I challenge anyone who claims to be a true reporter to do some research on this and then report your findings truthfully to the public on the air.

John   March 19th, 2009 12:53 am ET

To Purnell of Kankakee, IL. From John of Cook County, ILL. I'll have to give you credit. You did go back and correct your spelling. I was beginning to wonder where I would start researching the difference between residecy, resideny, and citizenship. I don't know if it is time for this 67 year old man to start taking advice from you on what I should research. Residency or Citizenship, whatever you choose. I still don't understand why you would threaten the nice people of Canada with your presence in either category. Sorry I didn't get back to you sooner but I like others signed off for more important things. It seems that I recall your reference to all the places you have travelled in your approximately 30 years. Now I don't claim that my more extensive experience is somehow superior to yours simply because I am guessing I have spent more time in the world than you have but if travel is one of the criteria it takes to question your logic in many of your comments than I think I can claim an advantage over you as well due to my 27 years active duty in the military, the many countries and states I have not only travelled in but lived in for in excess of 15 years. Your comment that a large portion of the Bush family is guilty of sexual misconduct simply takes away from the validity of your argument. It's OK to be angry but I think that even most of the angriest of the Bush haters would shy away from that allegation.

John   March 19th, 2009 1:01 am ET

Kathleen – I agree that we should all stop trying to put down President Obama for the problems he is experiencing with the AIG situation. If you want to point a finger at someone, try our Congress and Senate. If these guys weren't so busy stuffing the most recent budget with pork and daring President Obama to try and go against them, perhaps they would have read the Stiumulus Bill a little more closely and prevented these bonuses being paid. Now we have Senator Dodd, who yesterday claimed not to know who put the clause in the bill requiring the bonuses to be paid, coming on CNN this evening and recanting. It appears he was aware of the claus and maybe even participated in it's inclusion. These politicians all have dirty hands and I don't care if your are Republican, Democrat, or Independent. So get ready for the next installment when the executives from Fanny and Freddie Mack get their bonuses. You all do remember the part they played in the destruction of the housing market, I hope.

lorenzo,   March 19th, 2009 1:01 am ET

purnell , thanks for info..GWBush is pro/life? in Kitty elley's book"the Bush Dynasty" she writes that Bush's girlfriend had an abortion/before he was married/. the family paid her off, they tried to interview her but she refused !, she probably signed papers, he's pro/life? how many soldiers have been lost in this crazy war ? 4400 ? so sad! oops Kitty Kelley's bk...

John   March 19th, 2009 1:05 am ET

Well folks, I'm going to go back to the tube for awhile and see if I can find anywhere that they actually report the news and not their opinions. I'm sure you will be sad not to be able to take another shot at my comments but be asured that I will be back in the morning to see what you want to throw my way. Keep it clean though.

ed,vancouver canada   March 19th, 2009 1:08 am ET


the recipients do not eat pork.

ed,vancouver canada   March 19th, 2009 1:14 am ET

john don't do a dine and dash man.
like totally.
some of us on here have phd and mba degrees.
just because we are not conned by the oh so evil ones.

beast with 7 heads G7

ed,vancouver canada   March 19th, 2009 1:19 am ET

congress and the senate did NOT want to pass the bailouts.
look back at the news tapes.

After presidential pressure they gave in.
now who is wrong.
dow has only changed 500 points if that since the crash.
this whole thing stinks

James   March 19th, 2009 5:51 am ET

I think the CEO's of AIG should face the firing squad and or the US government should freeze all their assets like Homes, Cars, Bank Accounts ect and put there families out on the streets.Also I think they shouldn't send them to jail instead they should amputate their brains from there skulls and use them for sicensetific study; so we can find out why people that commite these type of crimes do what they do. This should be a law for corporations that deal with large sums of money; not just there money but money that belongs to other people.

Sincerely: J. R.

Terry, TX   March 19th, 2009 9:36 am ET

The Democratic Congress, Democratic Senate and the 3 Republicans who voted yes on the Job Pork Stimulus...without even reading it....owe Mr. Liddy an apology for what he has been put through....and they need to be under oath in the same chair as Mr. Liddy was in. I add the media needs to apologize as well. We need to know who told Chris Dodds from the White House and the Treasury Dept. to remove Republican Snowe provision and put his in... this is why the bonuses were parceled out. We have been Blagoviched with an "F".

This Democratic show grilling was heinous....and beginning to smell of Chicago Politics....notice Obama is out of town when it gets hot….Jay Leno and California. The buck stops with this entire problem was started by him. The "My Fault...I am the President"..the "buck stops here"....not good enough anymore...getting real old. This Obama show has put AIG employees in danger....and the media can take their share of the responsibility.

David, CA   March 19th, 2009 9:57 pm ET

Everyone needs to get over this! Yes, the execs did not deserve the bonuses. But, a contract is a contract. Also, our constitution specifically prohibits Congress from passing expost facto laws. These are laws that are retroactive in a negative way. As much as we don't like it, the treasurey secretary was correct asking for that phrase be added to the law.

Where is Jeffery Touban in talking about this? He knows this is just silly non-sense reporting.

Ron   March 20th, 2009 9:21 pm ET

President Obama ran on the concept of being an "outsider" of Washington so how else can he maintain that perception if he stays in Washington. With today's communications technology, he's effectively in Washington to hold teleconference meetings, make decisions, ask questions and request more input. And, by participating in the office pool on basketball, he's being the iconoclast that we all wanted.

bonnie moser   March 20th, 2009 9:29 pm ET


Rodrigo Garcia   March 20th, 2009 10:02 pm ET

Hi Larry yes president Obama is doing a great job I dont see anything wrong about the Jone Lenon show I think he is transmitting a message between lines and is breaking the bad image of the US that president Bush left.

About AIG you don't have a choice you have to save that company is to big to fail,just that company has 74 millions insurers around the world just imagine if that company failed imagine the collapse of the entire financial system in the US and around the world. About Tucker and Mrs Holmes your guest tonight they really don't have two fingers in front of there heads they know what is at stake with AIG this two republicans are just playing politics because Obama will succeed in the recovery of the US and the democrats will win again in 2010 and 2012 elections in the presidency and in congress thats why they are criticizing the politics of the president.
I live in Guatemala and we can see the change already not just in the US already but around the world you can feel the world is less tense son thats change.

from Guatemala

Comments have been closed for this article

Keep up to date with Larry

Follow him on Twitter

Become a fan on Facebook

Contact us
Go Behind The Scenes


LARRY KING LIVE'S Emmy-winning Senior Executive Producer Wendy Walker knows what it takes to make a great story.

With anecdotes, provocative emails, scandals, show transcripts and insights into Walker's long working relationship with Larry King, her new book PRODUCER issues readers an invitation to listen in on the most intriguing conversations on the planet.

Order from:
Barnes & Noble

King of Hearts

Larry King's King of Hearts

Saving a heart a day is the goal! Learn more about the Foundation and it's efforts to help the uninsured

Visit the Larry King Cardiac Foundation.

subscribe RSS Icon
Powered by VIP