Tuesday, March 17, 2009

MORE ON AIG...American Idiot Group

Here's a little more on the AIG fiasco. Go get 'em, Barry!

From Capitol Hill Blue:

The Obama administration says it's trying to put strict limits on the next $30 billion installment in taxpayers' money for insurance giant AIG amid questions about whether it responded fiercely enough to executive bonus payments.

Grassley to AIG execs: 'Just kill yourselves'

Iowa Sen. Charles Grassley suggested that AIG executives should take a Japanese approach toward accepting responsibility for the collapse of the insurance giant by resigning or killing themselves.

The Republican lawmaker's harsh comments came during an interview with Cedar Rapids, Iowa, radio station WMT on Monday. They echo remarks he has made in the past about corporate executives and public apologies, but went further in suggesting suicide.

AIG: Bring lawyers, guns and money

The only real difference between Bernie Madoff and the management of AIG is that when Bernie Madoff got caught, he pleaded guilty. When AIG got caught, it asked the government for $170 billion.

And it got it. Now the American International Group is going to pay $165 million to its executives as a reward for the fine job they did in duping everybody.

Rewarding failure

If AIG were in the public relations business instead of insurance, it surely would have gone broke years ago.

Take the reaction to its decision to go ahead with $450 million in bonus payments, including $165 billion paid out over this last weekend, to executives of the business unit whose recklessness almost wrecked the company. Also over the weekend the firm disclosed that had to sue $34 billion in bailout money to make good on credit default swaps the unit has written that had gone bad.


And this from the Associated Press via Buzz Flash:

The Truth Will Out; Taxpayers Sucked Dry by A.I.G. "Taxpayers unlikely to be fully repaid in AIG mess....No longer can we call it an investment. We just have to call it what it is — and that's sinking money in a hole."

11 comments:

HelenWheels said...

The very worst thing that can happen to Obama is his poll numbers tanking. He definitely has to do something, the people have had enough.

It's sad that he is going to pay the price for the Raygun-thru-shrub failed ponzi scheme, but that's just how it is. The public are for the most part impatient, uninformed and uneducated. So.... Obama may have to get extremely creative.

He is being forced to be a populist president. I wonder what he can possibly do to try to turn such a mess around?? Sheeesh.

I think the people may be forced to rise up. I guess AIG execs are getting death threats. It's not looking good.

Grandpa Eddie said...

We've got 80%+ interest in AIG right now. I say we go after the whole 100% and kick the bastards to the curb, penniless!

Cats r Flyfishn said...

This is outrageous.

Happy St Patty's Day.
Here's the link to the video...
http://www.youtube.com/watch?v=HplZ_taHXLM

Cats r Flyfishn said...

President Obama is be unfairly blamed for this fiasco that was created during the Bush years. In the past, Barack Obama has managed to rise above the issues. I hope he can do it again. Put your Obama signs back in your windows and or on your lawns. Let everyone know that we still support our President. The press has been extremely brutal to President Obama. They were never this nasty to Bush.

sue said...

YAY Cats!! We all need to stand by President Obama, he will make it thru thislatio mess unscathed, I'm sure of it!!

HelenWheels said...

The problem, Cats r Flyfishn, is our corporate-controlled MSM. They have pretty much declared an all-out war on the Obama Presidency. All we can do is fight them tooth and nail. I am going to do what I can on my blog, and Jon Stewart really helped a lot in bringing the problem to light, but I agree: We have to ramp up support of the president to counteract all the tearing down he's in for.

Grandpa Eddie said...

Thanks Cats r Flyfishn, I went and watched the video, and it was great.

I forwarded it to my wife at work....then had to send a second telling her not to watch it there....the place is full of McCain people.

Sue, I can't find mine. The Mrs has moved so much stuff around since Xmas, I'm surprised we can find the cats.....oh yeh, that's right, they find us.

Helen, couldn't agree with you more about the evil MSM.

sue said...

what did I write?? thislatio?? What is that supposed to be? LOLOL!!

Grandpa Eddie said...

Huh?

nunya said...

I didn't realize that Grassly was the one who told the execs to off themselves. That's hiliarous. That's not normally something that makes me laugh, but this bunch of elitist overprivelidged shmucks?

Grandpa Eddie said...

nunya,
Can you imagine the repercussions if this would have been said by a Democrat during the Bush years?