AIG Considering Lawsuit Against the Government

[Angry Norwegian]

http://uk.reuters.com/article/2013/0...90716P20130109

Well, I give up. AIG bends the country over, has their way with it, passes out on the floor from exhaustion, is resuscitated by the bailout package, and demands more, claiming that they were not adequately rewarded for playing a key role in royally ****ing the economy.

I am now done. I'm done with big banks and insurance giants whining, and I'm done with boards of directors that shell out huge bonuses and then promptly ***** about their "compensation". I'd be fine if these people all dropped dead, and the country would be better off.

Matt Taibbi summarizes AIG's "contributions" nicely:
"Even worse was the incredible episode in which bailout recipient AIG paid more than $1 million each to 73 employees of AIG Financial Products, the tiny unit widely blamed for having destroyed the insurance giant (and perhaps even triggered the whole crisis) with its reckless issuance of nearly half a trillion dollars in toxic credit-default swaps. The "retention bonuses," paid after the bailout, went to 11 employees who no longer worked for AIG."

**** 'em. Eat ****, you bags of worthless feces. They should be the ones getting the hell out of our country. Deport Piers Morgan? Deport illegals? What they did should be ****ing illegal, but they got rewarded for doing it and they're pissed that they didn't screw us enough. Deport these ******s.

*end rant

[steelcityroller]

Oh hell no.... This country is turning more and more into a big pile of ****.

[The Schmooze]

Can't make it up....

[TylerSL]

AIG is upset about the conditions in which they obtained their bailout. Well it was their irresponsable choices that helped ruin the economy, and they took the taxpayer money and ran with it. Because AIG took the money that was given to them to save themselves from their own bad choices they do not get to discuss the terms of which they obtain bailout money. But knowing our Judicial System, some Judge will side with AIG.........

[behindmydesk]

Let me start by saying they shouldn't have had a bailout. Said it at the time will say it again now. Everyone here thinks banks shouldn't be this big, and shouldn't take the risks they do. No matter what laws you put on them, they will still be big and still take huge risks if they know (and believe me they have enough evidence and history of being bailed out) to know they will be bailed out again. Stop bailing them out and they will operate more market efficient.

That said on the bailout they kind of were given a take it or take it proposition. They couldn't really negotiate. It says in there they were allowed to say no and bankrupt the company, but I have a hard time believing that. There was no way the Fed was going to allow that to happen even if AIG wanted it. I can't imagine AIG would choose that option anyway. The whole bailout was a huge mess up to me. Even good companies like Wells Fargo didn't need the money but were forced to take it. Some of the terms AIG was forced to take weren't very favorable. So I get that, and I'd be ticked too if I was them. Especially when most of the company was very profitable and doing things correctly. Although with still the hatred for how big these companies are, and how they wrecked parts of the economy, I think it's asinine to sue the government. Talk about bad PR, this is a case if I was leading AIG I'd say yea we got screwed in our opinion on these terms but we now are back to operating and making money let it go. It'd be hard press to find 8 or 10 jurors (I can't remember how many people are on a jury) to think AIG is the victim.

[AmsterNat]

I expect Mr Kyle will have a field day with this latest example of corporate madness, made possible only by the many unique and unacceptable features of the current US capitalist system.

[Raidaz4Life]

I expect Mr Kyle will have a field day with this latest example of corporate madness, made possible only by the many unique and unacceptable features of the current US capitalist system.

Government involvement is not a fundamental of a capitalist system.

[Jester4k0]

Soooo goood. So, the minority of folks that had flagging ownership in a failing company have seen a profit due to the good nature of the citizens of the USA. They have the audacity to attempt to take their share after a loan by the masses was provided, now through a presumptial lawsuit . I hope they sue. Partly, because I am tired of bailouts for any entity, including the autos. Let them die and all handouters for that matter. Nothing like socialized risk and privatized profits---sounds like welfare handouters, in this case private and corporate, like to suck the gubmint teet but don't like the taste. Extermination is next. Before folks get all worked up, it is about time we take responsibility for ourselves, bury and incarcirate the wicked and break up the bank monopoly and the games they play. Flag me, gubmint. At least I have guns.......LOL

[The Schmooze]

No profit is ever enough profit for banks and corporations

[behindmydesk]

No profit is ever enough profit for banks and corporations

I think that's man kind. No salary is ever enough for a person. I don't know a single person who says yea I make enough no reason to try to make more if given the opportunity. The only people I personally know is this one guy who makes a fortune and spends every dang cent of it every week. He just doesn't want to work any harder. But for the most part everyone wants a raise. Make a million you get comfortable and say man 1.2 million would be better.

[The Schmooze]

I think that's man kind. No salary is ever enough for a person. I don't know a single person who says yea I make enough no reason to try to make more if given the opportunity. The only people I personally know is this one guy who makes a fortune and spends every dang cent of it every week. He just doesn't want to work any harder. But for the most part everyone wants a raise. Make a million you get comfortable and say man 1.2 million would be better.

I think it's pretty well-known, but people need to be reminded of it. When we heara bout layoffs, automatically many people go: "well it's X party's fault, they are destroying our economy!", when in reality many corporations lay off people while simultaneously making record profits. Also, CEOs always complain that they pay too much in taxes and some outside factor is hurting their business. Everytime I hear it I go and look at their company's profits, and 9/10 they have never made more...

and for the American people, we deserve a raise, b/c while CEO salaries skyrocket, the majority of the work force hasn't seen a raise in 30 years