AIG // Current TV

AIG bonuses 'higher than thought' - how lovely... NOT!

US insurance giant AIG paid out a total of $218m (£150m) in bonuses after... more

arcticspirit
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3 years ago
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1 comment

AIG director named to Obama tax task force

One of the people named this week to President Obama's new Task Force on Tax... more

ClipsFC
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3 years ago
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40 comments

We've Got You Covered 3.26.09

Seth Rogen looking up a woman's skirt, Robert Pattinson, 'Monsters Vs.... more

Conor_Knighton
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3 years ago
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7 comments

where's my bonus?!

a tongue in cheek look at the wall street bailout.

christopherthehun
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3 years ago
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9 comments

Philthy Blog Goes All AIG On Everyone's Asses on Vimeo

This is a must see. What if we went AIG in every day life? How would that apply?... more

Psychedelic
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3 years ago
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1 comment

Should Geithner Go?

Laura Flanders talks to Matt Taibbi of Rolling Stone and Robert Johnson former chief... more

GRITtv
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3 years ago
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2 comments

I'm Sick of AIG

This week has featured a lot of discussion on AIG. There is widespread outrage over... more

unitedliberty
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3 years ago
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6 comments

Executive vice president of A.I.G. writes: I Quit!

The following is a letter sent on Tuesday by Jake DeSantis, an executive vice... more

Octoguy
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3 years ago
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0 comments

Dear A.I.G., I Quit!

The following is a letter sent on Tuesday by Jake DeSantis, an executive vice... more

lvp
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3 years ago
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35 comments

What’s a Guy Gotta Do to Get Fired? (A Rant on AIG Bonuses)

Both digital and otherwise, has been spilled over the AIG bonus fiasco. A lot, but not... more

sunnyspeaks
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3 years ago
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0 comments

Geithner, Bernanke Want More Power

Geithner and Bernanke say the government did not have means to deal with AIG, and more... more

VSiskos
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3 years ago
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4 comments

AIG Execs to Give Back $50 Million!

So, are you surprised? Looks like public opinion scores this time. New York... more

sarahlane
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3 years ago
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24 comments

Obama can't walk on water, he should save the taxpayers not AIG or Goldman Sachs

Barack Obama cannot walk on water after all, but that is unsurprising since he has four massive weights shackled to his ankles: AIG, Citigroup, Fannie Mae and Freddie Mac. Of these, the most urgent challenge is posed by AIG. The current row over the payment of $165m in bonuses - an outrage, admittedly, especially since 11 employees who received more than $1m in "retention" bonuses have already left the company - is a distraction, like Sir Fred Goodwin's pension in the UK, from the main concern.

Barack Obama and Tim Geithner have one sensible option: they must send the liquidators in to AIG to pick the bones clean. The sooner they take this drastic action, the more effective it will be. The perception is growing that the real motive behind the AIG bailout is to save the posterior of Goldman Sachs: AIG appears to have become a staging post through which billions of taxpayers' dollars travel into the coffers of Goldman Sachs and other banks.

The question is also being asked why Goldman Sachs' chief executive Lloyd Blankfein sat in on meetings discussing the AIG bailout. The core of the AIG problem and, by extension, of America's banking crisis, is the question of Credit Default Swaps (CDS), the contracts invented by a team working for J P Morgan Chase in 1997, regarded as state-of-the-art financial practice and imported into the banking system like a plague bacillus.

The exposure to CDS liabilities amounts to $15 trillion. Forgive an inquisitive foreigner questioning Uncle Sam's credit worthiness, but does America actually have that kind of money to spare? No, is the evident answer. So, what is to be done? The Obama/Geithner formula seems to be to throw exponential amounts of taxpayers' money at AIG to delay the inevitable. But there is one procedure that would solve the CDS problem at a stroke: the bankruptcy process would allow all these toxic CDS contracts to be torn up, to the relief both of the financial system and the taxpayer.

Why will Obama and Geithner not take this course? It might sound perverse to describe Lehman Brothers as a success story, but in the present dire circumstances it could be called that: liquidation of Lehman has allowed its viable divisions to put down fresh roots. Why will Geithner not do the same with AIG? Financial commentators were quick to notice the startling similarity between Geithner's bank bailout plan and proposals that Goldman Sachs had been hawking around for a month beforehand.

Timothy Geithner is toast: even the Treasury cat knows he cannot survive. The present policy is madness. Anybody who listened to Barack Obama's campaign speeches would have presumed that, in a conflict between the interests of the suits on Wall Street and the families on Main Street, Obama would not hesitate. Nor has he: the suits have it. Meanwhile, AIG is the mortal wound sapping life from the Obama administration. Change we need? Hope? Some hope.Barack Obama cannot walk on water after all, but that is unsurprising since he has... more

ClipsFC
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3 years ago
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11 comments

Ron Paul talks AIG Bonuses

Ron Paul appeared on CNN American Morning today to talk about the recent AIG tax on... more

freeforall2008
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3 years ago
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0 comments

Forget AIG Bonuses --- The Nest Bailout Is Here!

Democrats from Andrew Cuomo to Barney Frank to Barack Obama are demanding that the 418... more

TheEmpireGuy
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3 years ago
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2 comments

Lawmakers took AIG Cash but now they bash

Joining a chorus of outrage, Rep. John B. Larson (D-Conn.) took to the floor Thursday to bash American International Group and its million-dollar bonuses.

"This is wrong," Larson thundered right before he voted for a 90 percent tax on the AIG payouts. "It's time for us to act."

Yet Larson, along with dozens of other lawmakers and senators from both sides of the aisle, was for years a big recipient of campaign contributions from AIG executives and employees while the company was moving down the path toward its financial implosion.

During the past two decades, lawmakers received more than $9.3 million in contributions from AIG and its employees, according to the Center for Responsive Politics, a campaign finance watchdog group. While some of the highest-profile Democrats, including Banking Committee Chairman Chris Dodd (D-Conn.), top the AIG donor list, the beleaguered company was bipartisan with its campaign largesse.

Larson took in nearly $35,000 in AIG-related donations in the past three cycles, according to Federal Election Commission records. Barry Feldman, treasurer of Larson’s reelection campaign, said on Thursday evening that the Connecticut Democrat would donate to charity “the amounts that the campaign has received over the years from the AIG PAC.”

GOP Reps. Peter King (R-N.Y.) and Jeb Hensarling (R-Texas), for example, received a combined $14,400 the past two cycles from AIG-related donors.

Of the $2.5 million from AIG over the past three election cycles, 60 percent going to Democrats like Larson, now the Democratic Caucus chairman.

President Barack Obama's campaign was the biggest recipient of AIG-related donations in the 2007-08 cycle, raking in $104,332, according to CRP. Senate Banking Committee Chairman Chris Dodd (D-Conn.) took in $103,900 during the same period. Arizona Republican Sen. John McCain's presidential campaign got $59,499, and former New York Democratic Sen. Hillary Clinton's received nearly $38,000. Senate Finance Committee Committee Max Baucus (D-Mont.) got nearly $25,000, while Vice President Joe Biden — formerly the senior senator from Delaware — received just under $20,000.

Dodd, however, has generated the most attention for his AIG contributions. Dodd has been the leading recipient of AIG donations, taking in nearly $280,000 during his Senate career. While the AIG corporate headquarters are located in New York City, it has extensive operations in the larger metropolitan area, including Connecticut.Joining a chorus of outrage, Rep. John B. Larson (D-Conn.) took to the floor Thursday... more

ClipsFC
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3 years ago
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8 comments

A.I.G. Paid Fellow Wall Street Casino High Rollers With U.S. Bailout Funds

Financial companies that received multibillion-dollar payments owed by A.I.G. include... more

WhiteNoise
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3 years ago
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15 comments

Official: AIG paid $218 million in bonuses, not $165 million

NEW HAVEN, Conn. — The attorney general of Connecticut said Saturday that he is... more

bansheewail
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3 years ago
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10 comments

Real Time With Bill Maher

New Rules: (03/20/09)

ras_menelik
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3 years ago
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7 comments

Obama Hits the AIG Spot

Obama, Biden, Hillary and top cabinet members resort to drastic measures to deal with... more

SuperNews
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3 years ago
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38 comments

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