Tag: AIG
AIG… I Just… No
There simply are no words.
American International Group’s chief executive said in an interview published Monday that the insurance company, which was aided by an extensive taxpayer bailout in the aftermath of the 2008 recession, was wrongly targeted for awarding its employees bonuses after the crisis — comparing the outrage in Washington to lynchings that occurred in the Deep South a half a century ago.
The Name’s Been Changed, the Crooks Are Still the Same
From those enlightened financiers at AIG comes this groundbreaking announcement. Their retirement fund group is no longer AIG, it is now, wait for it, VALIC. Isn’t that a pickle company? Appropriate somehow: Possibly, and this is entirely idle speculation on our parts but, the fancy public relations firms the zombie insurer retained are known for running focus […]
Taibbi Dissects Dear AIG, I Quit Letter
Matt Taibbi strikes again. (Go read it now.) Are we supposed to believe that Jake DeSantis knew nothing about Joe Cassano’s CDS deals? If your boss and the top guys in your firm were all making a killing selling anything at all — whether it was rubber kayaks, generic Levitra or credit default swaps — […]
Bill Taxing (some) Bonuses Passes The House
Via MSNBC: WASHINGTON – Acting swiftly, the Democratic-led House approved a bill Thursday to slap punishing taxes on big employee bonuses at firms bailed out by taxpayers. The bill would impose a 90 percent tax on bonuses given to employees with family incomes above $250,000 at American International Group and other companies that have received […]
Did Obama Administration Screw Up on AIG?
8-ball sez, “Signs Point to Yes.” In a NYTimes article(read the whole thing, it’s excellent), it appears that lots of people were aware that a significant round of bonuses were due to be paid out on March 15, but those people did not include Timothy Geithner: Mr. (Representative Elijah) Cummings said he had been communicating […]
Were Delaware Municipalities at Risk From AIG for $260 Mill?
Delaware municipalities appear to have been at serious risk of losing millions without the initial bailout of AIG, according to a press release from AIG itself. In somewhat of a surprise, AIG listed institutions that essentially were remunerated with the rescue funds, and it appears that Delaware institutions could have lost $260 million without Federal […]
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