Posted on 03/19/2009 5:55:49 PM PDT by curth
ALBANY, N.Y. – Eliot Spitzer has a few words to say about the AIG bonus brouhaha: I told you so. The former New York governor battered American International Group with charges of corruption long before his own dizzying downfall in a prostitution scandal. He has used this latest financial scandal to strike his old populist, Sheriff of Wall Street themes and, just maybe, mend his reputation — though critics contend that he bears a share of the blame for the insurance giant's historic near-collapse.
Spitzer says the AIG bonus issue is "penny ante" compared to the billions of the insurer's bailout money funneled to bad banks, and that Treasury Secretary Timothy Geithner owes America an explanation, quickly. As for all those politicians piling on AIG this week? Been there. Done that. "We pursued AIG and Wall Street's structural failures in a way that others shied away from because it was politically unpalatable for them to address those issues," Spitzer told host Brian Lehrer Wednesday on WNYC Radio in New York City. "Now it is the flavor of the month. Everybody is jumping up and down serving subpoenas, beating their chests trying to be tougher than the next person."
On CNN Thursday, Spitzer said his initial probes came from AIG's "effort from the very top to gin up returns whenever, wherever possible and to push the boundaries in a way that would garner returns almost regardless of risk.
"Back then I said to people, AIG is the center of the web," he told CNN's Fareed Zakaria
(Excerpt) Read more at news.yahoo.com ...
S;pitzer for Treasury Secretary!!!
The idiot Spitzer ran off Hank Greenberg, who was such a powerful CEO that he sat all over Cassano and his derivatives cowboys and kept them under control.
When Greenberg was sacrificed for Sptizer’s political ambitions, replacement management was too weak to control the cowboys in AIG Financial Products.
AIG will get better, they will pay back the US government by selling off parts of itself then they will leave the USA.
Finally the truth comes out, from all people, Spitzer. And from above, nobody believes him, or gets it...
The MONEY WENT TO GOLDMAN SACHS>>>>>>>>>>>>>>>>>>>
Great...
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