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  • dingding: 
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  Is he referring to the same talent that was responsible for the near collapse of the former insurance giant and the subsequent $185 billion bailout?

  Nov 11 06:40 AM | Link | Reply
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  • a fat panda: 
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  • Joe The Economist
  It has been 2 years of economic ruin, and the only thing that these guys know is that they are underpaid. If it weren't for the pay restrictions they would think it was 2006.

  Nov 11 06:54 AM | Link | Reply
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  • Night_Rider: 
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  All I can say is good riddance. I think that executive pay is way out of line just like house prices were a couple of years ago. Talent is a relative thing. If I could borrow for nothing, speculate with the money and not worry about paying it back cause I know I can get the government to bail me out when I get into trouble, then I too could be a talented trader. And with all the people that are walking the street looking for work what's the problem. The jerks on wall street must think the rest of us are stupid!

  Nov 11 06:55 AM | Link | Reply
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  • TheAxe: 
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  Well you must be kidding me!!! Moody's has its head up its knickers. The government has authorized 182.3 billion for AIG. So far total assistance is 120.7 billion, Aig this week alone took down 4.7 billion more from the government. So perhaps AIG would have to stop borrowing, before Moodys judges if in fact they may be able to pay US back!!! NOT!! AIG is not making money in their core business lines. Only the Maiden Lane project(read more free taxpayer money) and a mark-up on the senior tranch portfolio made the firm a paper profit. AIG has net-tang. book value of 43 billion, how can they pay-back 120.7 billion???? please... This guy speaks like he's at some bar. Instead of trying to do his job. Please take off your diaper, and roll up your sleeves.

  Nov 11 07:02 AM | Link | Reply
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  • Linus Wilson: 
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  • Research on Bank Bailouts
  Good riddance. Next time, pay the CEO in preferred stock. The number one common shareholder, U.S. taxpayers, care more about the value of its much larger preferred stock investment than the common stock stake.

  Nov 11 07:18 AM | Link | Reply
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  • Neil459: 
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  • perceptivemind.com
  On Nov 11 06:40 AM dingding wrote:
  > Is he referring to the same talent that was responsible for the near
  > collapse of the former insurance giant and the subsequent $185 billion
  > bailout?
  
  Talent is not the same as leadership. Talent can be put to either good or evil endeavors. Its leadership that makes the choice and sets the example. So if the talent is rank and file, he may have a mute point. But if talent is leadership, then he needs to prove good leadership before complaining about the pay. The one thing that is for sure, raping and pillaging for years is not a habit that is easy to stop. And pay is more convenient to complain about than your own performance.

  Nov 11 07:36 AM | Link | Reply
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  • D. McHattie: 
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  This catch-22 situation is exactly why bailouts are a bad idea.
  
  If you bail them out but then restrict their ability to retain talent then they are just going to fail again.
  
  If you bail them out and let them continue business as usual then you are encouraging parasitic behaviour by the richest 5%.
  
  You're always better off just saving the taxpayer's money and letting the chips fall where they may.
  
  I'd rather pay the unemployment cheques to the middle class than bailouts to the upper class.

  Nov 11 07:37 AM | Link | Reply
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  • MarketGuy: 
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  So, how do Govt workers do it. Their "underpaid" and look how efficient and talented their work force is. Oh, wait...bad example...whoops.

  Nov 11 08:01 AM | Link | Reply
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  • davidbdc: 
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  Poor Robby.....is the job turning out to be difficult. I mean he's only getting paid 10.5 million so I can understand why he would expect it to be a "country club" type position.
  
  I have a way to "incentivize" the AIG executives (that ruined the company) to stay and clean up their mess.....how about a simple law out of Congress charging any AIG executive that leaves 100% taxes for the rest of their lives. You break it you fix it buddy. Those crooks in London that wrote CDO insurance against no assets should all be doing this work from a jail cell!!
  
  Teddy Roosevelt used to say "walk softly and carry a big stick". Well I think its time Obama took a trip to Wall Street and got out the big stick and bashed some heads. He should let these incredibly talented people know that if they don't do what is right and fix this mess the IRS will be at their door 24/7 and they'll be looking for receipts for their third grade milk purchases for the rest of their lives.
  
  So now these guys think they are doing "god's work" but of course they need more money to do "god's work". Somehow I think God is holding his head in his hands muttering to himself that they must have skipped most of the chapters!!!

  Nov 11 08:13 AM | Link | Reply
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  • herbert hoover: 
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  Does this guy really believe anyone gives a shit if he resigns or not?

  Nov 11 09:08 AM | Link | Reply
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  • Poor Texan: 
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  Where will all the talent go? G.S.?

  Nov 11 01:31 PM | Link | Reply
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  • Harry Tuttle: 
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  • theveryseriousblog.b...
  My money is on Benmonsche. Geithner hasn't been able to stand up to ANYONE in the financial "industry."
  
  Good luck rooting for the good guys.

  Nov 11 01:41 PM | Link | Reply