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  4. AIG volunteers to be the scapegoat

AIG volunteers to be the scapegoat

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businessjsonlearning
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  • O Offline
    O Offline
    Oakman
    wrote on last edited by
    #1

    The guys at the top of this dis-organization are idiots. Not only do they force out the guy who built the business from tiny to giant; not only do they buy terrible crap at inflated prices sure that they could always resell it at even more inflated prices; not only do they post the largest quarterly loss, in constant dollars, of any corporation anytime anyplace; not only do they demand and get an amazing amount of federal bailout dollars. . .now they announce that they are just absolutely forced to pay themselves bonuses - after all they promised themselves that they would get them. If the Feds didn't have AIG, they'd have to invent it. All over the tube yesterday, our governmental representatives and their representative and their representatives, too, were all rising in in great populist anger pointing a shaking-with-anger finger at AIG and denouncing them as the end all and be all of the global collapse especially since they are paying bonuses. Nobody, it seems, in Washington, had anything to do with the mess, none of Barack's advisers were involved in anyway - and that goes back to Paul Volker who is so tall no-one has noticed he's been dead for three years; and certainly Barney and Nancy and all their friends over at Fannie and Freddie contributed in any way to the crisis. It's very clear to me, after hearing the various speakers-to-the-populace, that once we have strung up most of the senior management at AIG, and crucified the rest (all on TV,of course - maybe we can reuse the Greek Revival scenery Obama accepted his nomination in front of) we can expect the stock market to go up, and unemployment go down - unless we need to pass another stimulus bill. X|

    Jon Smith & Wesson: The original point and click interface

    L L M 3 Replies Last reply
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    • O Oakman

      The guys at the top of this dis-organization are idiots. Not only do they force out the guy who built the business from tiny to giant; not only do they buy terrible crap at inflated prices sure that they could always resell it at even more inflated prices; not only do they post the largest quarterly loss, in constant dollars, of any corporation anytime anyplace; not only do they demand and get an amazing amount of federal bailout dollars. . .now they announce that they are just absolutely forced to pay themselves bonuses - after all they promised themselves that they would get them. If the Feds didn't have AIG, they'd have to invent it. All over the tube yesterday, our governmental representatives and their representative and their representatives, too, were all rising in in great populist anger pointing a shaking-with-anger finger at AIG and denouncing them as the end all and be all of the global collapse especially since they are paying bonuses. Nobody, it seems, in Washington, had anything to do with the mess, none of Barack's advisers were involved in anyway - and that goes back to Paul Volker who is so tall no-one has noticed he's been dead for three years; and certainly Barney and Nancy and all their friends over at Fannie and Freddie contributed in any way to the crisis. It's very clear to me, after hearing the various speakers-to-the-populace, that once we have strung up most of the senior management at AIG, and crucified the rest (all on TV,of course - maybe we can reuse the Greek Revival scenery Obama accepted his nomination in front of) we can expect the stock market to go up, and unemployment go down - unless we need to pass another stimulus bill. X|

      Jon Smith & Wesson: The original point and click interface

      L Offline
      L Offline
      led mike
      wrote on last edited by
      #2

      And your reason for pointing this out is your shock? If and when what passes for the Government of the United States of America ever does anything that seems remotely intelligent and absent any greed and corruption, please post that, then I might be shocked. Just saying. :-D

      1 Reply Last reply
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      • O Oakman

        The guys at the top of this dis-organization are idiots. Not only do they force out the guy who built the business from tiny to giant; not only do they buy terrible crap at inflated prices sure that they could always resell it at even more inflated prices; not only do they post the largest quarterly loss, in constant dollars, of any corporation anytime anyplace; not only do they demand and get an amazing amount of federal bailout dollars. . .now they announce that they are just absolutely forced to pay themselves bonuses - after all they promised themselves that they would get them. If the Feds didn't have AIG, they'd have to invent it. All over the tube yesterday, our governmental representatives and their representative and their representatives, too, were all rising in in great populist anger pointing a shaking-with-anger finger at AIG and denouncing them as the end all and be all of the global collapse especially since they are paying bonuses. Nobody, it seems, in Washington, had anything to do with the mess, none of Barack's advisers were involved in anyway - and that goes back to Paul Volker who is so tall no-one has noticed he's been dead for three years; and certainly Barney and Nancy and all their friends over at Fannie and Freddie contributed in any way to the crisis. It's very clear to me, after hearing the various speakers-to-the-populace, that once we have strung up most of the senior management at AIG, and crucified the rest (all on TV,of course - maybe we can reuse the Greek Revival scenery Obama accepted his nomination in front of) we can expect the stock market to go up, and unemployment go down - unless we need to pass another stimulus bill. X|

        Jon Smith & Wesson: The original point and click interface

        L Offline
        L Offline
        Lost User
        wrote on last edited by
        #3

        You know Jon of the problems of Fannie & Freddie where loans were made that somewhat turned toxic, well, get this, Obama has apparently decided that the US Government will guarantee small-business loans up to 90%. Not just any loan but those where businesses can't get conventional loans from the usual sources. [quote] Under the "credit elsewhere" program, before issuing a loan lenders must provide supporting documentation from potential borrowers to show that they couldn't get loans elsewhere[/quote]. [^] That sounds something of a risky program with the government having to bail out those whose business borrowing can't be repaid. Not quite the S&L story but you can see potential for "looting". And by the way, I read this in a news report earlier that "White House: Economy Fundamentally "Sound"" There, problem solved, the stimulus is working and BoA are on record (last week) as saying they don't need more government bail-out money.

        O 1 Reply Last reply
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        • L Lost User

          You know Jon of the problems of Fannie & Freddie where loans were made that somewhat turned toxic, well, get this, Obama has apparently decided that the US Government will guarantee small-business loans up to 90%. Not just any loan but those where businesses can't get conventional loans from the usual sources. [quote] Under the "credit elsewhere" program, before issuing a loan lenders must provide supporting documentation from potential borrowers to show that they couldn't get loans elsewhere[/quote]. [^] That sounds something of a risky program with the government having to bail out those whose business borrowing can't be repaid. Not quite the S&L story but you can see potential for "looting". And by the way, I read this in a news report earlier that "White House: Economy Fundamentally "Sound"" There, problem solved, the stimulus is working and BoA are on record (last week) as saying they don't need more government bail-out money.

          O Offline
          O Offline
          Oakman
          wrote on last edited by
          #4

          Richard A. Abbott wrote:

          [quote] Under the "credit elsewhere" program, before issuing a loan lenders must provide supporting documentation from potential borrowers to show that they couldn't get loans elsewhere[/quote].

          This is why I don't want the government having power over bank lending.

          Richard A. Abbott wrote:

          And by the way, I read this in a news report earlier that "White House: Economy Fundamentally "Sound""

          Apparently, it's only ridiculous when McCain says it. I hadn't understood that.

          Jon Smith & Wesson: The original point and click interface

          1 Reply Last reply
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          • O Oakman

            The guys at the top of this dis-organization are idiots. Not only do they force out the guy who built the business from tiny to giant; not only do they buy terrible crap at inflated prices sure that they could always resell it at even more inflated prices; not only do they post the largest quarterly loss, in constant dollars, of any corporation anytime anyplace; not only do they demand and get an amazing amount of federal bailout dollars. . .now they announce that they are just absolutely forced to pay themselves bonuses - after all they promised themselves that they would get them. If the Feds didn't have AIG, they'd have to invent it. All over the tube yesterday, our governmental representatives and their representative and their representatives, too, were all rising in in great populist anger pointing a shaking-with-anger finger at AIG and denouncing them as the end all and be all of the global collapse especially since they are paying bonuses. Nobody, it seems, in Washington, had anything to do with the mess, none of Barack's advisers were involved in anyway - and that goes back to Paul Volker who is so tall no-one has noticed he's been dead for three years; and certainly Barney and Nancy and all their friends over at Fannie and Freddie contributed in any way to the crisis. It's very clear to me, after hearing the various speakers-to-the-populace, that once we have strung up most of the senior management at AIG, and crucified the rest (all on TV,of course - maybe we can reuse the Greek Revival scenery Obama accepted his nomination in front of) we can expect the stock market to go up, and unemployment go down - unless we need to pass another stimulus bill. X|

            Jon Smith & Wesson: The original point and click interface

            M Offline
            M Offline
            Mike Gaskey
            wrote on last edited by
            #5

            you've missed the most important aspects of this particular story: AIG was given money by the government to shore up their liquidity, with NO strings attached. AIG should have been allowed to fail, but congress in their wisdom cranked out a bill that had no method for holding anyone accountable, except for vague language that the Sec'y of the Treasury should ... Cuomo the NY AG is demanding a list of bonus recievers at AIG (it is none of his fucking business). re: Obama and small business shit happening today, anyone tell the fool that hiking taxes on individuals actually harms small businessses? a round of applause for the Magic Negro.

            Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

            R 1 Reply Last reply
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            • M Mike Gaskey

              you've missed the most important aspects of this particular story: AIG was given money by the government to shore up their liquidity, with NO strings attached. AIG should have been allowed to fail, but congress in their wisdom cranked out a bill that had no method for holding anyone accountable, except for vague language that the Sec'y of the Treasury should ... Cuomo the NY AG is demanding a list of bonus recievers at AIG (it is none of his fucking business). re: Obama and small business shit happening today, anyone tell the fool that hiking taxes on individuals actually harms small businessses? a round of applause for the Magic Negro.

              Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

              R Offline
              R Offline
              Rob Graham
              wrote on last edited by
              #6

              Mike Gaskey wrote:

              Cuomo the NY AG is demanding a list of bonus recievers at AIG (it is none of his f***ing business).

              Perhaps he thinks the recipients might be friends of Geitner, and inclined to emulate him with regard to prompt payment of income taxes on said bonuses....

              M 1 Reply Last reply
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              • R Rob Graham

                Mike Gaskey wrote:

                Cuomo the NY AG is demanding a list of bonus recievers at AIG (it is none of his f***ing business).

                Perhaps he thinks the recipients might be friends of Geitner, and inclined to emulate him with regard to prompt payment of income taxes on said bonuses....

                M Offline
                M Offline
                Mike Gaskey
                wrote on last edited by
                #7

                Rob Graham wrote:

                Perhaps

                perhaps not - any bonus I've ever recieved was delivered with a hefty tax already withheld.

                Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

                R 1 Reply Last reply
                0
                • M Mike Gaskey

                  Rob Graham wrote:

                  Perhaps

                  perhaps not - any bonus I've ever recieved was delivered with a hefty tax already withheld.

                  Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

                  R Offline
                  R Offline
                  Rob Graham
                  wrote on last edited by
                  #8

                  I guess your sense of humor retired too...

                  M 1 Reply Last reply
                  0
                  • R Rob Graham

                    I guess your sense of humor retired too...

                    M Offline
                    M Offline
                    Mike Gaskey
                    wrote on last edited by
                    #9

                    Rob Graham wrote:

                    I guess your sense of humor retired too...

                    nah, I'm in the midst of recovering from 2 weeks on Maui and my critical thought processes have yet to return.

                    Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

                    O 1 Reply Last reply
                    0
                    • M Mike Gaskey

                      Rob Graham wrote:

                      I guess your sense of humor retired too...

                      nah, I'm in the midst of recovering from 2 weeks on Maui and my critical thought processes have yet to return.

                      Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

                      O Offline
                      O Offline
                      Oakman
                      wrote on last edited by
                      #10

                      Mike Gaskey wrote:

                      I'm in the midst of recovering from 2 weeks on Maui and my critical thought processes have yet to return.

                      I spent 6 months on Oahu in recovery - maybe that explains my thought processes. . . :~

                      Jon Smith & Wesson: The original point and click interface

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