What if this was never brought to light via the media? The fact is that AIG gets bailed out, then subsequently does something stupid with the money. The public gets outraged and then someone intervenes and says “not so fast guys”
My point is….I see a pattern. Everytime the fed bails them out, they screw up again and get a slap on the wrist. At one point do they STOP trying to pull this shady bs?
I’m convinced if it weren’t for the media printing these rumors, that AIG would continue to act unethically until someone literally had to step in like a parent.
In this case, AIG is the bratty little kid that keeps misbehaving and the US Govt is the dead beat parent who rather than imposing rules to discipline said child, would rather just buy them a new video game system to keep them quiet. Only difference is instead of a video game, it’s $180billion and climbing..and it doesn’t keep them quiet/well behaved for long.
If ever there was a company that lost its right to remain as part of the insurance industry – it’s AIG.
It is now the time for the agent and broker community to cease its support of AIG. There should be an across-the-board boycott of the products and “services” of AIG. The only thing those arrogant “B******s” listen to is money, and it’s now time to move business to carriers other than AIG.
Reform has to start now.
But the Insurance divisions are not the evil doers. The Insurance divisions are state regulated with enough reserves. The “Mother Ship” is the problem child and can’t touch the reserves of the Insurance companies. The strong insurance divisions need to breakaway and stand on their own laurels.
We only HOPE that NYS Dept of Insurance has made sure that they are have the require statutory reserves. Depending on any government to be a watchdog is scary.
Politians suck at business they don’t realize that AIG exec’s along with many more are just a crafty as they are.
Need some good professional business people to run this bailout show.
The financial sector of lower Manhattan, not just AIG, is an incestuous and insidious clique that covers it own a ss regardless of performance. Any saavy businessperson knows IF you are going to create a bonus plan, it MUST be tied to financial success of the company or business unit, not simply meeting stupid objectives like: “increase the underwriting of mortgages”. That’s missing the word “profitable”. Any why would you want to guarantee “retention bonuses” to people who made AIG the most hated company in America? They linch pin of the collapse of the world economy? These litte “rules” the financial people created for themselves must be eliminated.
What if this was never brought to light via the media? The fact is that AIG gets bailed out, then subsequently does something stupid with the money. The public gets outraged and then someone intervenes and says “not so fast guys”
My point is….I see a pattern. Everytime the fed bails them out, they screw up again and get a slap on the wrist. At one point do they STOP trying to pull this shady bs?
I’m convinced if it weren’t for the media printing these rumors, that AIG would continue to act unethically until someone literally had to step in like a parent.
In this case, AIG is the bratty little kid that keeps misbehaving and the US Govt is the dead beat parent who rather than imposing rules to discipline said child, would rather just buy them a new video game system to keep them quiet. Only difference is instead of a video game, it’s $180billion and climbing..and it doesn’t keep them quiet/well behaved for long.
If ever there was a company that lost its right to remain as part of the insurance industry – it’s AIG.
It is now the time for the agent and broker community to cease its support of AIG. There should be an across-the-board boycott of the products and “services” of AIG. The only thing those arrogant “B******s” listen to is money, and it’s now time to move business to carriers other than AIG.
Reform has to start now.
You go 1st Darwin
But the Insurance divisions are not the evil doers. The Insurance divisions are state regulated with enough reserves. The “Mother Ship” is the problem child and can’t touch the reserves of the Insurance companies. The strong insurance divisions need to breakaway and stand on their own laurels.
How can anyone at AIG expect a bonus when the company is on the verge of going under?
Didn’t these CEO’s and Exec’s put AIG in this position?
We only HOPE that NYS Dept of Insurance has made sure that they are have the require statutory reserves. Depending on any government to be a watchdog is scary.
Politians suck at business they don’t realize that AIG exec’s along with many more are just a crafty as they are.
Need some good professional business people to run this bailout show.
AIG has never had a problem denying claims on the policies (“contracts”) that it issues, so why be worried about getting sued for denying a bonus?
The financial sector of lower Manhattan, not just AIG, is an incestuous and insidious clique that covers it own a ss regardless of performance. Any saavy businessperson knows IF you are going to create a bonus plan, it MUST be tied to financial success of the company or business unit, not simply meeting stupid objectives like: “increase the underwriting of mortgages”. That’s missing the word “profitable”. Any why would you want to guarantee “retention bonuses” to people who made AIG the most hated company in America? They linch pin of the collapse of the world economy? These litte “rules” the financial people created for themselves must be eliminated.
At my next review I will demand to sign a contract guaranteeing large retention bonuses regardless of job performance.
in my dreams, hahaha
is this more fallout from spitzer saving us which forced out greenberg???? would he have allowed this to happan?