Realsmartguy

Congress' Handling of AIG Bonuses Is Shameful

AIG didn't "steal" any money from people. Their hazardous product, credit default swaps, served a useful purpose until they started selling them as bets and not as credit insurance. The government was correct to prevent the AIG collapse because of the implications for the world economy.
There is nothing wrong with performance based compensation. They do incent people to perform at hifgher levels than straight pay regardless of outcomes.
The Congress and the administration are driving a huge wedge between differing groups of our society for the sole reason of insuring their own re-election. They are using the crisis in our markets for the same reason.
Why would an investor sink hundreds of billions of dollars into AIG and then do everything possible to insure that it fails ? Those lousy congress members and the pinheaded bureaucrats are destroying our country.


On Mar 26 11:23 AM Responsibility wrote:

> The Congress should be shameful for being late to be taking hard
> actions against the excesses of Wall Street and its associates whom
> many are members of the Congress or people like Geithner and those
> lawyers who will be coming out to cover for their Wall Street associates.
>
>
> For too long, these people made their rules and used their gimicks
> to steal money from people who are less knowledgeable about financial,
> tax, and legal matters, instead of performing their duties of protecting
> the financial well being of the public and betraying the public trust.
> The crisis has finally waken up enough people who agreed that "enough
> is enough" and is keeping pressure on the negligent Congress and
> Washington to do something.
>
> Even the public has shown certain shamefulness about themselves for
> being tolerant and conforming to wasteful behavior. When will Wall
> Street, financial people, corporate executes, the lawyers, and their
> associates be willing to take responsibilities for what they have
> done or for what they have failed to do?
>
> This is not about the small (relative to the huge amounts being spent
> on bail outs) amounts of money. This is about correcting some fundamental
> problems and changing people's irresponsible attitudes, in order
> to restore some trust in the system.

Congress: Shortsighted About Financials

My comment really concerns AIG but I want to tell as many people as possible something they can be genuinely outraged by and that is the Congress and administration efforts to disparage AIG at every opportunity. Does it make sense to invest $165b in a company and then do evrything possible to destroy the franchise value and even the company itself ? Why do we let such idiots run our country ?

What's Happening to Citigroup?

The SEC absolutely must reinstate the "uptick" rule. The short sellers are killing the market.

Citigroup's Decline - Not a Good Sign for the Market

Tim has identified the two problems that brought us here. Until the rules are changed the short sellers will continue to savage the market.