The chutzpah, testicular fortitude, avarice of this man...
The government should not bail out or take over any business. ever.
Wrong, Greenberg. You shouldn’t have gotten a handout OR a takeover. You should have gotten a kiss-off and a kick in the seat.
I don’t know why the government doesn’t just rule that every one of the credit default swaps written against any U.S. corporation is hereby null and void. Every single “contract” is an illegal contract, since the holder has no insurable interest in the company the insurance (bet) was written on.
Those contracts are a tsunami of financial hurt that are about to wipe out the entire global economy.
The got "provided assistance" to AIG so he bankrupt firm could pay off claims to European banks. It was a disguised bailout of foriegn financial concerns - at American taxapyer expense.
WHERE DO THESE OWS PUNKS GET THIS RIDICULOUS SENSE OF ENTITLEMENT???
Used to be an AIG middle level exec’s kid on my daughter’s soccer team. Unreliable, arrogant asshat.
Had you not bought every business that had a pulse to add on to your empire and concentrated on running what you already controlled we wouldn’t be having this conversation. Bye the way where the Hell is my money from my GM bond that Obama devalued and gave to the unions?
AIG naked shorted puts on lots of European entities. If AIG had failed, we’d have had the current Euro-crisis on top of that year’s Lehman crisis. And would’ve been fine, because by now, the decks would’ve been cleared, and growth could resume. Instead we have crap economies on both sides of the Atlantic.
AIG should have been left to die. No bailout, no takeover.
Don’t be too hasty with Hank. He was pushed out of AIG years before they started the insurance of CDRs so wantonly. It was the execs that replaced him that convinced the board to oust him and his sons because he was too old and conservative with respect to insuring bad mortgages.
Hank has what many FReepers wish they had in this case; standing, money, a grudge and a too old to give damn attitude.
This lawsuit could bring much to the surface that should be seen.
Old Hank screwed Eliot Spitzer to the wall.
The Democrats are now being drug into court where it will all go on display.
Mark
The chutzpah, testicular fortitude, avarice of this man...
The more I thought about it, the more I like the entire thing. Just think for a moment what 'discovery' will be like! Could end up shining spotlights on a lot of roaches!
No, Hank. You and a lot of other companies should have had your asses kicked all the way into bankruptcy court. That is the proper place for the remaining assets to have been sold off to pay the creditors in their proper legal order and let the shareholders have nice shiny stock certificates to use for wallpaper.
In no way should the managers and shareholders been bailed out or some politically connected bondholders been given priority over others of equal or greater legal standing.
If I was sitting on a jury, because someone gave this POS some hot lead for his stupid ass remarks and lawsuit.... I’d have to let the sh00ter go.
What a friggin typical hook-nosed douchebag!