Someone explain this to me: RE: AIG

[GObamaGO]

How can they on one hand, put out a "Thank You, America" ad campaign thanking US for bailing their sorry asses out, and on the other hand, simultaneously sue our government, read-we taxpayers, because they do not like the terms of the "already paid back" bailout?

[arthritisR_US]

1. Because they are greedy, ungrateful sods who

should be frog marched into prison !

[GObamaGO]

3. I completely agree

The ads were enough to make my head explode. Hearing about the possible lawsuit brought that to an entirely new level of beyond the pale.

[arthritisR_US]

5. Takes some real hubris to pull off their latest

crap, nothing that prison might straighten out

[banned from Kos]

2. Its the shareholders suing the US government - not the company.

Although the company is considering it too.

But dealing with pissed off shareholders is not something they want to do either. In the end they won't join the lawsuit which is destined to fail anyway.

[arthritisR_US]

7. I did not know that. The suing shareholders

names should be published so they can enjoy their time in the limelight.

[GObamaGO]

10. I really like how you think!

[arthritisR_US]

13. Thanks! Wish we could get some law makers

on board!

[customerserviceguy]

9. I figured that's why the company ran the commercials a few days ago

they had some advanced notice that this shareholder was going to do something extremely stupid. Otherwise, why would they spend money on advertising?

I figure this is going nowhere, otherwise the American public would retalitate big time. AIG cannot afford to look like PIG.

[JDPriestly]

15. How can the shareholders prove they were damaged.

Any claim about losses would be strictly speculative since the entire company was on the brink of failure. That's my impression, but maybe I am missing something here.

[JaneyVee]

4. Privatize the profits, socialize the losses.

[arthritisR_US]

8. That is their mantra. n/t

[Angry Dragon]

6. the shareholders should sue AIG

throw the Board of Directors and execs in prison

[Nye Bevan]

11. What crime do you believe the Board of Directors committed? (nt)

[Angry Dragon]

12. fiscal malfeasance

and I am trying to fill up the republican private prisons

[geckosfeet]

14. What's to explain? It should be obvious. They are mercenary, backstabbing, black hearted psychopaths

who care only about sucking the life blood out of anything unfortunate enough to cross their path.

[longship]

16. The same corporate malfeasance that gave rise to Joseph Cassano!

And here he is:


He is the single guy who crashed the world economy. BTW, he isn't in prison because what he did was all legal.

Read about it here: The Big Short: Inside the Doomsday Machine, by Michael Lewis.

We're screwed. The 2008-2009 bailouts were orchestrated by the very institutions that caused a near global economic meltdown.

Another read which will have you sick to your stomach: Too Big To Fail by Andrew Ross Sorkin. The story behind Treasury's 800 billion dollar bailout. Also, a good HBO movie: here. An all star cast. Scary shit went down; and Paulson did not have a clue of what was happening. They were more worried about politics.

And it hasn't changed since then.