AIG

[RIJIMMY]

Originally Posted by spence

This is perhaps the biggest crock of %$%$%$%$ I've ever heard.

These executives understood exactly the risk they were putting AIG under when they chose to insure sub-prime loans from default without adequate cash ratios in the bank.

What people don't realize is that a lot of the money sent to AIG is then being sent to other banks as insurance payoffs for mortgage defaults, because the exects at AIG gambled on the premise that housing prices would never fall and they would never have to pay out.

Sounds like a ponzi scheme to me. "Bond" my ass...

-spence

are you kidding me? You're still nieve enough to think this was all executives! So you have FAITH in corporations not to use this to screw over their own people? I can see it now, congress imposes a new bonus tax on all bonus incomes, corporations stop bonus payouts for workers. The middle class is goign to take the screw for this under the guise of a hit on the "wealthy".

[fishbones]

Originally Posted by Raven

obama is on the scent.....

ooooh i hate to be those guys right now

I would say it more like O'Bama's on the hot seat right now, judging from what's being written about him and this mess.

http://www.msnbc.msn.com/id/29731643/?GT1=43001

[RIJIMMY]

WASHINGTON (CNN) -- Senate Democrats want to tax the controversial bonuses doled out to AIG employees who work for the division that led to the company's downfall.
Congress is looking at ways to deal with the outrage surrounding AIG's controversial bonuses.

Senate Majority Leader Harry Reid announced on the Senate floor Tuesday that the tax-writing Senate Finance Committee will pursue a legislative fix in such a way that the "recipients of those bonuses will not be able to keep all their money -- and that's an understatement."

Senate Finance Committee Chairman Max Baucus, D-Montana, will propose a special tax within the next 24 hours, Reid said.

Are you kidding me? And you libs cried about the Patriot Act???? Your government is goign after private individuals money! They are going to seize private property! There was no agreement that AIG could not payout bonuses! This is fuXckin robbery! If Obama signs this he should be impeached. Im serious here. This is the most ridiculous spectacle of government power I have ever seen. this better go to the supreme court.
WHY ARENT WE SEIZING THE PROPERTY OF PEOPLE NOT PAYING THERE MORTGAGES! THEY VIOLATED THEIR AGREEMENT> THESE PEOPLE DID NOT!!!!!!!!
Class warfare from the Dems. I hope AIG EES say FU and walk off - please!

[buckman]

The wording of the bill and how the bailout of AIG was handled was under the direction of Timothy Geithner, under Treasury Secretary Henry Paulson . Obama took over 100K from AIG for his campaign. Just food for thought.