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10:43 AM on 03/02/2009
AIG is back again for more $$$$$.
Did any of these guys make the bonus list for last year....?
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gjohntheterrible
10:56 AM on 03/02/2009
The execs went on a $400,000 spa retreat and they handed out bonuses claiming that this was to "retain talent"
10:19 AM on 03/02/2009
Let them go; don't send good money after bad.
Time for a clean break.
01:54 PM on 03/02/2009
I agree with you, cojonu. I am one of your fans, in case you didn't know.Look in your profile.
10:12 AM on 03/02/2009
This weekend I was covering rust spots on my 10 year old car with clear nail polish and struggling with the decision to drop out of grad school because my parents lost their jobs last week....

....but I'm glad AIG will be taken care of.
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sbvpav
10:10 AM on 03/02/2009
geez, why can't the oil companies bail out aig, they've continue to post the largest quarterly profits in u.s. history.
01:02 PM on 03/02/2009
why is it oil companies problem. you wanna penalize the one industry that actually knows how to run a business.
outnow
Ban the bomb
10:06 AM on 03/02/2009
Obama has made the mistake of bailing out the bankers, not the banks. If the banks fail we were told the all hell will break loose. To the contrary, banks could fail as airlines have done and re-emerge under new leadership. Gordon Brown in the UK fired all the heads of the banks and took more efficient steps that Obama with Tim Geitner at the Treasury. Mr. Geitner does not care a whit about the American people, only his banker friends. Suppose for a second that, as Joseph Stiglitz told Amy Goodman, that the US took 7 trillion dollars and created its own lending to restart the flow of credit. The result would have been immediate credit flows instead of the dark holes of the corrupy banks which are "too big to fail."

Stiglitz goes further though; Obama got elected with banking money campaign contributions. In regard to wars we are still not out of Iraq as promised and are entering into a massive fiasco in Afghanistan.

Government spending is necessary but no through bailing out insolvent and imprudent banks - the big ones, which discriminates against the smaller community banks.

Folks, we must stop the madness or we will bankrupt our country. Our children are despondent about jobs and their futures while bankers children are pampered for life.
outnow
Ban the bomb
10:05 AM on 03/02/2009
Obama has made the mistake of bailing out the bankers, not the banks. If the banks fail we were told the all hell will break loose. To the contrary, banks could fail as airlines have done and re-emerge under new leadership. Gordon Brown in the UK fired all the heads of the banks and took more efficient steps that Obama with Tim Geitner at the Treasury. Mr. Geitner does not care a whit about the American people, only his banker friends. Suppose for a second that, as Joseph Stiglitz told Amy Goodman, that the US took 7 trillion dollars and created its own lending to restart the flow of credit. The result would have been immediate credit flows instead of the dark holes of the corrupy banks which are "too big to fail."

Stiglitz goes further though; Obama got elected with banking money campaign contributions. In regard to wars we are still not out of Iraq as promised and are entering into a massive fiasco in Afghanistan.

Government spending is necessary but no through bailing out insolvent and imprudent banks - the big ones, which discriminates against the smaller community banks.

Folks, we must stop the madness or we will bankrupt our country. Our children are despondent abour jobs and their futures while bankers children are pampered for life.
09:53 AM on 03/02/2009
I think it's about time to play the 'blame game' and implement a 'gotcha' policy for corporate crooks. Let's start with the AIG Board.

Edward Liddy Chairman and Chief Executive Officer
Anastasia Kelly Vice Chairman, Executive Vice President, Senior Regulatory & Compliance Officer and General Counsel
Paula Reynolds Vice Chairman and Chief Restructuring Officer
Win Neuger CFA Chairman of AIG Investments and Chief Executive of AIG Investments
Edmund Tse Senior Vice Chairman of Life Insurance, Director, Chairman of American International Assurance Company Ltd, Chief Executive Officer of American International Assurance Company Ltd and Head of AIGs Worldwide Life Insurance Operations
Louis Iglesias Chairman of AIG Risk Management Group and Chief Executive Officer of AIG Risk Management Group
Joseph Boren Chairman of AIG Environmental and Chief Executive Officer of AIG Environmental

and their enablers:

Morris Offit American International Group, Inc.
George Miles Jr. EQT Corporation
Michael Suttons Allegheny Energy Inc.
Richard Holbrooke Perseus, L.L.C.
James Orr III Gevity HR Inc.
Martin Feldstein Ph.D. Eli Lilly & Co.
Virginia Rometty International Business Machines Corp.
Stephen Bollenbach Alba Caracas
Suzanne Johnson Goldman, Sachs & Co.
Dennis Dammerman GEFS (Suisse) AG
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kassandrasduplex
09:59 AM on 03/02/2009
What happened to Maurice Greenberg? Had Spitzer gotten his way, Maury'd be in jail about now.
10:01 AM on 03/02/2009
OK fine, but you need to research better. The CEO Liddy, and probably some others, were brought in to try and fix the problem when the Fed bailed them out last year. He's working for $1 a year.
09:41 AM on 03/02/2009
Stock market has dropped 50% of worth since dems took over in 2006. Co incidentally, they ran on stopping the Iraq War.............still goin' on. Next?
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kassandrasduplex
09:56 AM on 03/02/2009
Point One: the laissez fair system championed mostly by Republicans, deregulation, lower taxes on the wealthy, has been a feature of American government for most of its history and was re-freshed for want of a better term by the Reagan Administration. What we are seeing now is very much the end of a quarter century of pro-corporate laissez fair economics. We have never embraced true socialism and the Democrats are the closest we will get to a more just, socialist system.
Point Two: The Iraq Invasion is ongoing and Obama's supporters were misled with a great deal of help from the corporate media which continues to cover the Invasion as if it were over already. The fact is 50K regular US troops will remain in Iraq at least until 12-31-11 and an unknown number of "private contractors", a total force of perhaps 150K fighting troops.
Americans were lied to by Obama and the media.
10:30 AM on 03/02/2009
Obama did not lie. He never once said he would remove every single troop from Iraq withing 16-18 months. He has always maintained a smaller force to put down insurgency and strike Al Qaeda. Everyone knows it would be irresponsible to just completely leave it open for Iran. Maybe you just misheard.

His announcement of his Iraq plan, aside from adding a few extra months, is consistent with his campaign promises....and it is more than we would have gotten out of a Republican or GWB......
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kassandrasduplex
10:01 AM on 03/02/2009
Your first point is meaningless. Your second point is true. The Empire rolls on and Obama lied.
10:12 AM on 03/02/2009
My portfolio reached a peak in 2006 and was on a downward trend until I switched to munies and then money market, so I've followed the stock market carefully. (Good to see Kassandra is still voicing 'omens.')
09:27 AM on 03/02/2009
This loss is unnerving to me. To have to put so much more money in at this point, it's not clear what will stop us from having to put in antoher $200bn eventually as global asset values continue to ratchet down.

I understand the regulators concern about "too big to fail", but I wonder if these losses are going to become too big to cover without very high inflation (hyperiflation?) Is there a chance that we will be facing something more than a depression here?
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maigoro
I stole it fair and square.
09:03 AM on 03/02/2009
The talk-shows will have a field day blaming Obama and Clinton for this. No mention of Bush - he never existed and even if he did never did anything to cause this. If a company is losing $60 billion a quarter, isn't it time to bid that company farewell and to stop throwing good money after bad? And the argument that the financial system will collapse does not hold water for me - financial services are a must for some individuals and corporations so some will survive.