I weep for this country.

AIG Exec Departures: What a Surprise!

Daniel: Do you even realize that many of these executives were brought in after the fall to fix that unit. In fact, the man who heads up the unit was brought over from Merrill and guess what yes, you have to give him money in order for him to take the job since he is good enough to go somewhere else. Who would go there now? You own the company, it is losing value everyday. You can't blame Matt Lauer, who is getting ratings and making money for NBC, for the problems GE is having in their financial unit. Would it make sense not to pay him and then have him go to ABC? No, you would end up hurting the division that is making money! This is a conglomorate and there is plenty of good business units there that are now going to lose value because of the demonization of the parent. This FP unit is a fly speck on the Company as a whole but if we keep this up the whole company goes down along with all value the taxpayer could possibly reap from a sale. Your lack of understanding of how business works is fine, the problem is that Congress shares your ignorance.

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People we own AIG! Why are we trying to destroy it? It should be unamerican to bash the good people at AIG who are now working there knowing how bad they are perceived and yet staying loyal to the company. Keeping good employees who see some future in their current roles in the only way we will see any of that money that Congress decided to give to Goldman and France. Remember the people who caused the crisis left! And most of AIG is made up of good, solid insurance units that up until now were making money. But this grandstanding is now hurting that part of the business that had nothing to do with Financial Products whatsoever and which hold the key to taxpayers recouping what the Fed gave to the counterparties!

AIG Exec Departures: What a Surprise!

People we own AIG! Why are we trying to destroy it? It should be unamerican to bash the good people at AIG who are now working there knowing how bad they are perceived and yet staying loyal to the company. Keeping good employees who see some future in their current roles in the only way we will see any of that money that Congress decided to give to Goldman and France. Remember the people who caused the crisis left! And most of AIG is made up of good, solid insurance units that up until now were making money. But this grandstanding is now hurting that part of the business that had nothing to do with Financial Products whatsoever and which hold the key to taxpayers recouping what the Fed gave to the counterparties!

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Read the actual bill it is available on the House's website. Despite how it has been reported it: taxes any individual whose salary and bonus combined is more than 125k. Households combined whose salary and bonus amount to more than 250K are also subject to the taking. So if you work at one of these banks, earn 100K a year and got a 26 K bonus and are the sole breadwinner of your house, the gov't will take your entire bonus. Does that seem fair to the over 116K employs of AIG who had nothing to do with the London based FP unit who work hard to provide for the familes and were counting on the bonus to pay loans and mortgages? Who are working hard to ensure that the company remains profitable to pay back the taxpayer! Wasn't that the whole point of the bailout? Or was it to pay the counterparties? Hmmmm... Oh, by the way, this tax doesn't actually tax the London based employees that everyone wants to flog. And it doesn't tax Merril Lynch because unlike AIG they are still allowed to lobby Congress. Can't wait for our best and brightest to go to Zurich, Banco Sociale and other foreign entities and the US Economy collapes. Way to go!

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I can't believe all of this nonsense over AIG. IS EVERYONE STUPID! Obama made damaging reckless comments and didn't even look into the issue. The conference was set a year in advance and paid for by the marketing budget of the insurance companies which can not be tapped to pay back the loan from the FED and the FED loan money is not going into the insurance companies budget at all! Plus, the FED now owns AIG, even after AIG pays back the 100 plus billion dollar loan, the FED owns them. Why are we mad about a conference where 100 of their biggest clients were wined and dined by a 10 AIG employees that was paid for by the insurance companies? That is standard practice. The insurance company has a billion dollar marketing budget and needs now more than ever to keep their huge clients. The better AIG does the better tax payers will be when the FED sells the 79 percent interest later. Piling on against AIG is actually against every taxpayers best interest. We want them to thrive not go bankrupt you IDIOTS!

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AIG was not bailed out by the Government, the Government took them over. There was no need to take the 80% interest in the company. That was a throw in. AIG just needed time to sell its assets a bridge. The core company (the international and domestic commerical insurance) is doing great, in fact operating at a bigger surplus than any other insurance company in the world. The non core can be sold for at least 180 billion. The Government, however, had AIG over a barrell on Wed with company facing bankruptcy because they could not raise the capital quick enough for the rating agencies and thus the government decided not only to loan the money but to also steal the company because they could. Now the shareholders rather pay back the loan to the FED and get the company back from uncle Sam. Also, that bad unrealized debt that AIG insured which caused the need to raise capital in such a hurry in the first place will now go away pursuant to the bailout so it will actually be a surplus rather than a debt for AIG. That debt will never be realized Thus, whomever gets control of AIG will have control of one of the best companies in the world.