Madison would not defend contracts that are part and parcel of a scheme of fraud. The real problem here is that the government is unwilling to declare that the business of AIG was a fraudulent Ponzi scheme, as that would require far more wide-ranging remedies beyond merely setting aside the bonus contracts. It might, gasp, actually address the underlying problems . . .
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Please...how do you know that all of the employees covered by these retention contracts are involved in a criminal conspiracy to defraud? And, what was the fraud?
Please detail how the AIG mortgage backed derivative failures are a Ponzi scheme. I bet you can't.
I sincerely doubt that you could prove fraud. Even if you could, you would have to involve these EMPLOYMENT Payroll records in the Fraud. You can’t declare them as instruments of fraud without satisfying the law. I would fight the release of my personal employment compensation information to the public.
AIG has not even been accused of any crimes.
Words mean things, and you should be aware that YOUR credibility, on these threads, depends on using words with some degree of care.
Yes, some people at AIG did some dumb things -— but again, the financial melt down was caused by sub-prime mortgages, sub-prime mortgages were pretty much INVENTED by Democrats.
The AIG problem was created by Credit Default Swaps on bad mortgages.
Credit Default Swaps, which would not be possible, had not the Democrats INVENTED, and REQUIRED the sub prime mortgages, in the first place!
Origination.
This mess was started at mortgage origination!