The coming financial crisis

[mpmcgraw]

thats some high quality analysis right there.

[reese125]

I pushed my chair out and pulled it back in to get a closer look at Romes analysis on my screen and I still dont know what the farg hes talking about

[Diomedes]

something about sales people who earn their 6 million dollar bonuses each year, I gather

[Phanatic]

My bro recently left AIG. He wasn't an exec and he got escorted out for his trouble...

[PoopyfaceMcGee]

Obama Received a $101,332 Bonus from AIG

Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.

The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle.  I would note that A.I.G.'s financial products division is the unit that wrote trillions of dollars' worth of credit-default swaps and "misjudged" the risk.

The Washington Post reports a "mob effect" at A.I.G financial products division:

    A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.

With the anger and rage that is being exhibited against A.I.G., perhaps the bonuses Obama received from A.I.G. explain Obama's A.I.G crocodile tears.

Now that the Wall street Journal has revealed that A.I.G. paid bonuses of $1 million or more to 73 employees, it's time to ask if recipients of A.I.G. "bonuses," including President Obama, will give what now ought to be taxpayer money back?

[ice grillin you]

bush got over 200k....mccain and hillary 75k....ect..ect...ect...if you dont think every major politician in the country gets money from companies like aig you dont know the game

[rjs246]

Seriously. Plus, getting a 75-100K from a company that big is hardly news and doesn't represent motivation to sponsor its survival.


Something more topical and not AIG related...
Talking about cutting the payroll tax.

[SD_Eagle5]

bush got over 200k....mccain and hillary 75k....ect..ect...ect...if you dont think every major politician in the country gets money from companies like aig you dont know the game

You wanted to be in the game

Well now you're in the game

[rjs246]

An alternative to Geithner's meandering, and one that has been successfully used before.

[PoopyfaceMcGee]

The FED is going to buy up a ton of long-term treasuries and mortgage-backed securities - markets way up, but dollar way down.

[PoopyfaceMcGee]

who knew what (and when) about the AIG bonuses

Chris Dodd is a douche.

UPDATE:  Even Democrats should think Chris Dodd is a douche.

[Seabiscuit36]

Dodd has been in the chair for all of this crap, and somehow has avoided scrutiny

[PoopyfaceMcGee]

I just want them to pass this stupid 90% tax and get it over with at this point.  The issue is so meaningless in actuality, and it's just giving a bunch of people a chance to grandstand.

Unfortunately, the line between "salary" and "bonus" is very vague here, so they will now be challenging whether or not people at these companies should be getting paid at all - especially Seabiscuit.

[Seabiscuit36]

Amazingly the creditcard side where i'm at is still very profitable.  Its certain acquisitions that farged us. 

[PoopyfaceMcGee]

Countrywide and Merrill, to name a couple...


By the way, this guy is talking my language.  The current anti-wealth wave cannot be sustained long-term, if of course you like the government to actually get any money.