AIG arson

If Wall Street touts and brokers did to AIG what the US Government and media are doing to them, the SEC would have them indicted already.

You people think you know this 'bonus' issue and are outraged they got bonuses, you dont know shit!
Fuckwads and so's everyone who voted for these incompetents, crooks and liars.


Oh... just so's you understand.. I KNOW they brought it on themselves. I am thinking from the point of the initial bailout agreements, so dont get mixed up with the crap they did before the bust... say Sept 2008.

 

Fog, I have kept away from the news for the most part but I heard something interesting from one of my 'service club' buddies. He told me that there was language in the original TARP money legeslation that prohibited companies who got TARP loans to use the money for executive bonuses and at at the last minute, that language was removed.

Is this true?

 

Yep.. by the authors

 

So isn't it a bit disingenuous for our politicians to be out there trying to gain political capital by passing 90% tax legislation on 'basically' specific people, when they left the door open for this? No matter how distasteful what AIG did before or after the TARP dollars hit their accounts? AIG will be punished in the markets for their behavior. They are a despised company and people will shy away from doing business with them as it will reflect poorly on their own judgement.

 

In fact, many of those bonuses were contracted in order to hold onto people in order to close out the financial divisions. Otherwise, wouldnt you have split AIG when things started going downhill?

 

No doubt. I wouldn't even want AIG on my resume if I worked there. All I can do is shake my head. Politicians are so sleazy (I know folks not all of them).

I can't wait to see the lawsuits from those executives affected by this taxation scheme, that you know will end up in the courts, burning US tax dollars, so our government can defend their actions.

The White House (I realize the previous administration was involved in this) and Congress should just buck up and admit they allowed this to happen for business reasons, and move on. It would be out of the news and folks minds within a month.

 

AIG will have to legal issues itself, and that will be another misuse of bailout money to hire attorneys. Pretty sick.

It just baffles me how the incompetents continue to rip us off and get away with it. We get to see the double damage living in CA.

 

Even more sleazy was the way they treated Edward Liddy, AIG CEO, when he testified before Congress. Totally disgusting to treat the man who stepped in to clean up the AIG mess for a salary of one dollar the way that they did. I continue to be dismayed at just about everything Congress does. I'd like to throw them all out. Where's FFC24, I'm starting to sound like an anarchist.

 

And Don CONVENIENTLY forgets the INSTRUMENTS OF THE SWINDLES and who created them.

Waaaaaaaaaaaaaah! It's ALL BUSH's FAULT!!!

That aint gonna fly anymore, Don.

Of course, Don knows all that.

He knows lots more than he writes... note he puts the finger on the real danger lurking, the retroactive taxing away of wealth of THOSE YOU DONT LIKE.
The problem is he believes in the perfect society.. and believes in 'sincerity'. I do too. But the fact is you have to make it in peoples' self interests to do the right thing. At this point in time, it's getting harder and harder to do that.

 

Honestly he is being intellectually dishonest or agrees and wants blood anyway.

Don, with all due respect, nobody here is defending AIG at all, perhaps you should start at the top, read slowly, and read every word so you don't misunderstand but.......you can't as a government tell someone you can do something, then because of public outcry "of your mistake" (fueled by the media), retroactively punish those people by taxing them with a special tax, no matter how much you may dislike them, or what you think they represent. In fact, as far as I am concerned the government has no right to weigh in this issue because they opened the doors for it, knowingly. AIG will be punished, as an entity, eventually, have no doubts about that, as has others, as they should.

Your use of the word 'Devil' is a crafty attempt by you to help make your point, problem is it is emotional and will appeal to some, rather than logical and sensible.

I won't rehash the origins of our current crisis. It is on another thread but it cannot be blamed where you like it to be, no matter how convenient it would be for your view of the world.

 

Thank God for this, he seems to get it.

He says it’s important not to “govern out of anger.” And asked if the measure was constitutional, the former law professor said: “Well, I think that— as a general proposition, you don't want to be passing laws that are just targeting a handful of individuals…And as a general proposition, I think you certainly don't want to use the tax code—is to punish people.”

http://www.politico.com/news/stories/0309/20339.html

 

RR your link has died -- can you post it again

 

{fixed the link}

I'm not sure he does get it. He is governing by sound bite... that's the source of all the hooting about teleprompters.
You cant say it enough, some politicos seem to think 'talking about something' is the same as doing something about it.
The mess in the background.. what started this thread.. is the result of trying to be SAYING what the speaker THINKS the public wants to hear.
- - - - -- - - - -- - - - -- - - - -- - - - - -

Pardon me.. since it was in this thread, I assumed the reference was to Bush pushing through more low ball mortgage stuff. Instead it was about stuff having nothing to do with the thread and which you JUST KNOW but cant prove.

name names... I dont see that on here. And can we talk about how they were signed up for those mortgages in the first place?*

Again... let's name names... be sure to include all those who made it possible.*

* Let me amend that to say:IN ANOTHER THREAD PLEASE. There's already a thread on it from last year.
THIS is about the numbskull handling of the current crisis, this place and time.

 

Bird and Fortune Subprime Crisis



edit by pf

 

In my last banking job, one of my favorite customers was an AIG sales rep. He had nothing to do with their mess -- he was a retired teacher and took an agent position after he retired. Once he commented to me that he wished his retirement job wasn't such a rat race. I left only 3-4 months before everything went pear shaped in the subprime markets and for AIG. Wonder how his position fared

 

Dear Mr Liddy, I quit!

That was sent yesterday. Anyone who paid attention knew or surmised what was happening within AIG, after the agreement.

Why? Becasue it made sense. Now not only do those who have stock in AIG lose money because of this ridiculous grandstanding to appeal to the brain dessicated mob who actually believe ACORN is something other than a subversive organization, the taxpayer loses, too because Congress made us a stakeholder in that house then invited vandals in to destroy it.

Why did these politicos do this? Well, FIRST because they think we're all stupid and only react to emotional stimuli.
Well, we're not all stupid. I didnt vote for Obama, I know who Pelosi and Reid are .. and I know what Maxine Waters IS!

 

You know... that's as good an explanation as any I've seen. Of course, they dont bother with explaining how that is possible in the first place... that wouldnt be politically correct.