This morning finds most Americans thoroughly disgusted and completely fed up with the primary beneficiaries of the government bailouts who continue to thumb their noses at the rest of us and doling out bonuses to executives who at the very least don’t deserve them. Not when the company in question, namely AIG had a 4th quarter loss of $61 billion dollars – largest in history ? Bonuses? Really?
AIG had a 4th quarter loss of $61 billion dollarsThis in addition to the $5.2 billion dollar loss earlier in the year-currently trading today at .85 a share?
The idea that the company that has taken billions in taxpayer dollars to keep from "failing" and supposedly destroying the economy can’t NOT give out these bonuses because of "contractual obligations?"
We can sit and sputter amongst ourselves about the incredible hubris that continues to radiate off of these executives and their rationale for the BAD decisions they continue to make. We can wrong our hands and wonder aloud why oh why is the main stream media not covering any of this (or very little) and why they are not out there digging up the names of these people or we can shine a light on those who are benefiting from this largesse and what is seeming like the worlds biggest ponzi scheme set up to benefit ultimately a select few while penalizing those who can least afford it.
Shine a light on the vermin and let them ANSWER to the same American public that is being FORCED to bail their companies out. This while every day families all across this country are being evicted from their homes getting laid off and don’t know where there next dollar is coming from.
Joseph Cassano – former head of AIG’s financial products unit dealt in credit default swaps out of one office here in CT and one office in England.
Mr Cassano’s unit racked up billions in losses while he personally walked away (last march) with more than $315 million.
I am including a link to the article that references the abovementioned personality and his "involvement" if you will with credit default swaps.
If even some of these folks names make it to the main stream media and their forced to answer DIRECTLY to the American public it might actually get these out of touch corporate robber barons to understand THERE ARE consequences to being GREEDY and to showing such an utter lack of regard to the people who are primarily responsible for you being where you are.
Pin AIG Woes on B’klyn Boy gone wrong – Michael Daly – NY Daily News