Posted on 03/16/2009 10:02:27 AM PDT by BGHater
AIG is arrogant! They know that NOONE will allow them to fail, as it would bring down the international economy worldwide. AIG’s deriviatives are still a possible tank for the markets, and these executives hold all the cards...however tense the moment. It’s blackmail of the US government....and our taxpayer dollars.
I really enjoyed reading the last graph in your post.
Oh well, I’ve always wanted to own an insurance company!
This is not about AIG. this is about the government meddling in the affairs of private businesses.
Let’s see - first Barney Frank and other politicos bend the arms of financial groups to lend more to make people happy, then more politicos lend tax money to the guys who politicians select to help, now the same politicos are braying that decisions made by these institutions are not behaving the way that the govt thinks they should.
I say to the politicians: GTFOOTW
CDOs are criminal activities created to get avoid insurance regulations, justified by Greenspan and the “freeeedom” crowd who think banksters should have no laws because laws inhibit banks’ activities to selflessly make us all rich, rich, Rich!
It was economically necessary to Goldman Sachs and others who contribute massive bribes, aka “free speech”, as campaign contributions. The foreign entities made it plain that they would cease to bail out American tax “cuts” unless Bush bailed them out too.
“other politicos bend the arms of financial groups to lend more”
Did Barney and pals instruct AIG and others to invent CDOs?
“Why is this a surprise to anyone?”
Why is it a surprise about the bonuses when the Paulson/Geithner made it crystal clear that money was given out without limitations?
Especially, international ones.
Not exactly. Mortgage backed securities, when utilized properly, provide for a more efficient market and lower interest rates to consumers. The underwriting of the loans that were the security for the collateralized obligations was the main problem. As part of that, the underwriters did not take into account that house values don't necessarily go up as interest rates go down. There were other problems as well, but the vehicle, i.e., CDO's, was not the problem.
Could be, but my bet is that the Feds funneled the money through AIG to the banks. The fact that AIG was going to lend the money to foreign banks was part of the plan.
The politicians are criticizing the bonuses to cover up the foreign lending issue.
I couldn’t agree more.
This has been the federal government laundering taxpayer money through AIG.
The bonus kerfuffle is a “distraction.”
Goldman Sachs strikes again. They have hijacked the US Treasury as their own personal piggy bank. Paulson was giddy when he got TARP rammed through congress after seriously bribing the Senators and House with goodies and pork. Now Geithner takes over making sure the GS team is always getting their payout from US taxpayers. GS needs to be investigated, these are the guys the FED is feverishly trying to protect from being found out. Instead of letting them fail, they are going to be the last man standing.
“AIG was going to lend”...
what are you talking about? AIG insured (CDS) those deriviatives and had to pay those banks.
Show me the link where it says AIG “lent” that money to those banks.
As for the politicians like ZERO claiming to do something about the bonuses...that’s just bogus BS, and I never listen to anything they say. Those liars are just a diversion from what’s really going on. Even if they were to arrest someone, or have a trial, it’s a distraction, and nothing more.
We are only half way through this mess, and any recovery will be temporary.
Then of course when it was being discussed, you thought they should have been forced to bankruptcy?
What kind of person are you? Don’t put words in my mouth or thoughts in my mind. Many people have retirement accounts and insurance in AIG, and I would NOT want anyone to be hurt financially. Just because truth doesn’t fit your idea of reality isn’t my problem.
I simply asked a question. Once they take the government money, with no preconditions, no one should complain to them how they spend it. Congress wrote the TARP bill, they should be scolded, but somehow they get a pass.
BTW, I was against bailout money for any company. They either stand on their own merits, or they don’t stand.
I haven’t seen this question asked....
Why is AIG paying bonuses in a division that lost billions?
Maybe I’m old-school or simple minded, but I thought that if you didn’t have a good year, no bonuses were paid.
Why is anyone at AIG getting a bonus?
AIG stockholders, why were contracts allowed to be written that paid bonuses to executives when they ran the company over a cliff?
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