I think Barney Frank is on to something...

[Ravi]

Though I think this outrage over the bonuses is bullshit, the CEO addressed Congress today and cried about his employees receiving death threats...and he blamed it on the media and the politicians. IMO, there are crackpots out there that send death threats as a matter of course, and Barney seemed the only one not impressed with the CEO's little tear jerker.

It sounds as if AIG is in much, much worse shape than anyone imagines...not just the division in question, but the insurance side as well.

This is some scary shit, and I hope Congress gets right on it.

Far from being "healthy," as state insurance regulators, ratings agencies and other experts have repeatedly described the insurance side, Gober calls it "a house of cards." Citing numerous documents he has obtained from state insurance regulators and obscure data buried in AIG's own 300-page annual reports, Gober argues that AIG's 71 interlocking domestic U.S. insurance subsidiaries are in hock to each other to an astonishing degree.

One early sign of trouble came when Christian Milton, AIG's vice president of reinsurance from 1982 to 2005, was convicted last year in federal district court of conspiracy, securities fraud, mail fraud and making false statements to the Securities and Exchange Commission. (Milton was sentenced in January; his lawyers have indicated plans to appeal.)

But if Gober is right, the implications are almost too awful to contemplate. Despite its troubles on Wall Street, AIG is still the largest insurance company in the United States, controlling both the largest life and health insurer and the second-largest property and casualty insurer. It has 30 million U.S. customers. AIG is also a major provider of guaranteed investment contracts and products that protect people in 401(k) plans, as well as being the leading commercial insurer in the U.S. It is one of the largest insurance companies in the world, with insurance and financial operations in more than 130 countries. These insurance businesses were once thought to be so solid that AIG was able to use the triple-A rating it was routinely awarded to start up its vast credit-default-swap business.

Hirsh: The Next AIG Scandal? | Newsweek Voices - Michael Hirsh | Newsweek.com

 

[WillowTree]

You do know don't you that the CEO you are bitching about Mr. Liddy, was pulled out of retirement and put to work at AIG by the government???? And you do know that he gets no pay??? Didya know that?? So yes, death threats to he and his family are beyond the pale and if the cockeyed Bwaney Fwank isn't impressed by that I'm not a bit surprised cause I know he is a bastard asshole deomocwat with no brain!

 

[Ravi]

You do know don't you that the CEO you are bitching about Mr. Liddy, was pulled out of retirement and put to work at AIG by the government???? And you do know that he gets no pay??? Didya know that?? So yes, death threats to he and his family are beyond the pale and if the cockeyed Bwaney Fwank isn't impressed by that I'm not a bit surprised cause I know he is a bastard asshole deomocwat with no brain!

He gets no salary. What is his bonus?

 

[manu1959]

You do know don't you that the CEO you are bitching about Mr. Liddy, was pulled out of retirement and put to work at AIG by the government???? And you do know that he gets no pay??? Didya know that?? So yes, death threats to he and his family are beyond the pale and if the cockeyed Bwaney Fwank isn't impressed by that I'm not a bit surprised cause I know he is a bastard asshole deomocwat with no brain!

He gets no salary. What is his bonus?

nothing he is paid $1.....http://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031703019.html

 

[raceright]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

 

[mash107]

Barney voted and supported all the bailouts.

The only thing worse than the person accepting stolen money are the thieves themselves.

 

[FactFinder]

Though I think this outrage over the bonuses is bullshit, the CEO addressed Congress today and cried about his employees receiving death threats...and he blamed it on the media and the politicians. IMO, there are crackpots out there that send death threats as a matter of course, and Barney seemed the only one not impressed with the CEO's little tear jerker.

It sounds as if AIG is in much, much worse shape than anyone imagines...not just the division in question, but the insurance side as well.

This is some scary shit, and I hope Congress gets right on it.

Far from being "healthy," as state insurance regulators, ratings agencies and other experts have repeatedly described the insurance side, Gober calls it "a house of cards." Citing numerous documents he has obtained from state insurance regulators and obscure data buried in AIG's own 300-page annual reports, Gober argues that AIG's 71 interlocking domestic U.S. insurance subsidiaries are in hock to each other to an astonishing degree.

One early sign of trouble came when Christian Milton, AIG's vice president of reinsurance from 1982 to 2005, was convicted last year in federal district court of conspiracy, securities fraud, mail fraud and making false statements to the Securities and Exchange Commission. (Milton was sentenced in January; his lawyers have indicated plans to appeal.)

But if Gober is right, the implications are almost too awful to contemplate. Despite its troubles on Wall Street, AIG is still the largest insurance company in the United States, controlling both the largest life and health insurer and the second-largest property and casualty insurer. It has 30 million U.S. customers. AIG is also a major provider of guaranteed investment contracts and products that protect people in 401(k) plans, as well as being the leading commercial insurer in the U.S. It is one of the largest insurance companies in the world, with insurance and financial operations in more than 130 countries. These insurance businesses were once thought to be so solid that AIG was able to use the triple-A rating it was routinely awarded to start up its vast credit-default-swap business.

Hirsh: The Next AIG Scandal? | Newsweek Voices - Michael Hirsh | Newsweek.com

If AIG was using its bailout money for making the company viable instead of acting as a back door payoff for its coconspirators in securities fraud it would be well capitalized to honor its insurance committments. Why should the companies that generated these fraudulant instruments be paid a dime and then the actors who enabled this get bonuses? They all should be getting jail time and a permanent ban from acting in the securities markets in even a janitorial capacity.

 

[WillowTree]

wonder what the wonderful asshole bawney is saying about the intended bonus's for fannie and freddie??? anybody heard from him yet?

 

[driveby]

wonder what the wonderful asshole bawney is saying about the intended bonus's for fannie and freddie??? anybody heard from him yet?

I'd like to hear what Chuck U Schumer has to say as well.......

 

[DiveCon]

figures ravi would get it all wrong

 

[Xenophon]

The only thing Barney Frank is on is his Boyfriend's weiner.

 

[Maple]

I think that it would be wise of you to check into Barney Frank's involvement in this mess and do some homework., He is up to his neck in this BS and his incompetance is the main reason that we are in this crisis.

 

[Maple]

Well Chuckie said that Americans didn't care about a little pork here and there when in reality it amounted to billions of tax payer dollors. So I reallly don't care what Chuckie thinks about anything, he just totally discredited himself.

 

[garyd]

Yep they are both leftist idiots and self serving self important idiots at that.

 

[Freemason]

wonder what the wonderful asshole bawney is saying about the intended bonus's for fannie and freddie??? anybody heard from him yet?

He is all for them because one of his boyfriends did or does work for one of those companies.

 

[Freemason]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

Well, now they do also have Teddy Kennedy.

 

[WillowTree]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

Well, now they do also have Teddy Kennedy.

don't forget John Effen Kerry!

 

[LiveUninhibited]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

What does being a cocksucker have to do with his performance? He does, however, need some kind of speech therapy. I can barely listen to him. He sounds retarded.

 

[editec]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

Because he's smart as a whip, that's why.

Who he has sex with isn't considered especially important to his constitutents.

 

[PoliticalChic]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

History. Out of fifty states, Reagan got 49. The other....?