nypost.com:
Hank Greenberg's triumphant return to his beloved American International Group is nearly complete -- making him $588 million richer than he was in the spring.
Alexi Giannoulias: One Year Later: The Lessons of a Failed Economic Philosophy
We are no more insulated from a financial crisis today than we were one year ago. Congress has not changed a single rule, habit or practice to stop this economic calamity from happening again.
AIG Sued by Ex-CEO Maurice Greenberg Over 'Inflated' Shares ...
Greenberg Says AIG Bailout Was Avoidable - ABC News
EX-AIG CEO Maurice Greenberg Says AIG Problems Not His Fault, Bailout Failed
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Plan to save AIG:
Sell lots of derivatives (unregulated insurance with no capital necessary)
The fed is playing in re inflating the housing & finance bubble while the public willingly lets it happen (not that we could stop if if we wanted to). We're all too busy getting rich with stocks while the Wall Street crooks resume their treachery knowing they will get bailed out yet again.
good articles 4 slow news day; http://www.iamned.com
The lack of any finance or heath care reform is appalling
Conspicuous by his silence is CEO Robert Benmoshe. Isn't it his job to come up with 10 point plans to save AIG ? I sense another boardroom coup with a golden parachute for Benmoshe and untold riches for Geenberg. Capitalism at its finest.
Well, everybody needs a little bit of extra cash with the expensive december month coming up....
An Administration that knowingly rewards criminality is by definition criminal in their conduct. Think through clearly what you have wrought, President Obama. Months ago I warned the President that selecting corrupt and incompetent subordinates would bring his Administration down. Given that he is retaining these same subordinates while the country dissolves leaves me with the same forecast.
His poll numbers are shaky, not because of his Republican critics. The American people recognize that they were double crossed by his favoritism and budget breaking largess to a financial institution that is still dysfunctional and leading our country towards destitution and destruction. The true believers and faithful will continue to support him. The other millions will look elsewhere until and unless he restores a path to his campaign promises of opportunity, productivity and growth
I totally agree with you.
Thanks for your post. So true. I voted for the "bottom up economics guy". His words during the campaign have somehow dissipated into this smiley above the fray sh*&-eating grin President" that seems somewhat aloof.
And to think, I voted for this guy. What a loser. He has not been able to stay focused on one single issue and provide any clear cut answers, just songs and political dancing all the way. He wasn't qualified to lead and we're seeing this so clearly. At least Bush had cronies that hid their disdain and incompetence for long bouts however, it is slowly becoming painfully obvious that this guy is no more than a two bit hustler and it pains me to writes this about this young President. Those bums on wall street should have been sent to jail long ago; END OF STORY.
What a Crock! NEWSFLASH. The "budget busting" already happened under Raygon, BushCo 1, and BushCo 2. $11 trillion worth. Look it up. Obama is spending money in the USA! $680 billion. He is releasing about 2% of the money per month; as planned. What did you think? That is was going to be a scene from the movie, The Magic Christian, in which they just throw dollar bills into a hole and say "free money folks?" Yes people are unemployed. Yes it is bad. However, when Obama came into office unemployment was already over 8%. He is not Harry Potter. He has no magic wand. He is fighting against rethuglicans that want "FAILURE" over anything positive. Are you suggesting to FIRE everybody in government that is not "Obama-y" enough? The American People know who "double crossed" them years ago. We had an election over it, gopers lost. Good luck with you Plutonian logic.
Moore, Tallibi, and Krugman are right. We need more people like them in high office
If no justice is served the American People are going to get more restless, and the next time something happens.....there could be real UNREST! WE have to hold people accountable for their actions.
hat tip to: http://www.iamned.com
Ignorance = Negligence....... They knew what was going on the whole time, all the while padding their pockets. The U.S. crony-Capitalist justice system is a f**king joke. There must be some way we can outsource for justice against these criminals.
talibi is right
That's all?
He is a product of the Reagan era.
Look how he walks around in broad daylight with absolutely no fear, rubbing our faces in it. Look not to your political or judicial system for help; schmendricks like Greenberg own it. No, it's time to look to ourselves to make examples some of these people, and teach this criminal class the meaning of fear. They ruined our great republic and looted the Treasury, and now it's time to loot the looters. Lady Liberty cries out for vengeance.
V
Right on!
They are just gong to keep doing this until we get off our asses and do something about it.
Ok. I read the articles regarding Greenberg & Spitzer (charges were basically dropped or settled out of court). Does anybody think this guy can get Uncle Sam off the hook for the $165 billion investment? Please enlighten us if possible.
His love of money is the root of this evil.
Stories like these make me sick.
The WSJ had a small write-up on this. In that article, it said part of the plan was to reduce the govt's stake from 80% to 20% -- there's no actual mention of whether that would be via payback or ... like ... just forgiving it.
As usual, with anything Hank's involved in, it's hinky.
I don't have a problem with AIG paying the Treasury back over 20 years instead of 5.
That is, as long as the Treasury charges the same interest rate as credit card companies do.
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First Posted: 09-22-09 01:23 PM | Updated: 09-22-09 01:51 PM