Where are these crooks at now?
I say the Govt should be able to take what it needs to repay the debt.
This is what happens when the industry goes unregulated and where insurers have immunity from the federal anti trust laws make the insurers subject to the anti trust laws, keep the banks, insurers and investment firms separate. Consolidated power corrupts.
Corruption at the highest levels of government, at Fannie Mae, Freddy Mac, AIG and other Wall Street firms were responsible for the economic meltdown we have been in since 07. Barney Frank, Chris Dodd, Chuck Schumer and others were primarily responsible. The SEC was asleep at the switch for failing to monitor transactions and stop this illegal behavior. The net result is what has happened and currently happening. These crooks should all be in jail with Bernie Madoff since this is the biggest Ponzi scheme ever perpetrated.
Spitzer was right.We filed a complaint with FTC.gov in 2007 after we found the fraud by Countrywide on our mortgage.
AIG pays all subprime defaults, because the mortgages were insured by AIG. AIG becomes insolvent, therefore needing the bailout money to protect their own interests. Then they pay themselves first.
You are correct AIG and their top dogs need to be in prison with Madoff. All a firmly planned scheme to defraud the government and taxpayers.Finally, all this caused the foreclosure mess and the CWALT trust06-08 paper got sold to other banks causing the “non compliance” by the banks to reset the loans to today’s market value.
The crooks used the savings and loan crisis as a ramp up for this lastbig rip off of the American people and capitolsm as a whole NO ONE IN THE GOVT SEEMS to CARE ITS ALL TALK about fix NO one is serious or the crooks and cronies would all be in jail by now. THE SEC better step up or there will be no tax monies for the govt to run on. AIG execs should get no money until all is paid back no money to share holders all monies should be deffered until all is paid back. Repeal the insurers rights to the federal anti trust laws NOW as a message this is an absolute embaressment the entire insurance industrty which in most parts is well funded and need no bail out
In todays news, we find that Turbo Tax Tim is planning to divest the government stake in AIG for the princely sum of $49 Bil. The last time I checked, they were into the taxpayers for $182 Bil leaving the taxpayers on the hook for a cool $133 Bil. They should make a cell ready next to Madoff for Tim since he is one of the biggest crooks in government. And he is a financial advisor to the Chosen One. Get the tar and feathers ready for Nov.
There is a surprising lack of prosecutions of the evil doers with these big firms like AIG, Goldman Sachs, Citigroup, Bear Stearns, Merrill Lynch etc who were doing all these sub prime default swaps which led to the mortgage/financial crisis. The answer is that they were very big lobbyists to Congress and the Administration and donated a lot of money to them (much of which is our money)from the bailouts. Many of these executives and Congressmen/Senators should be right next to Bernie Madoff, but our inept ideologue Eric Holder will not go after them. November please hurry. We need a house cleaning in the worst way.
The November election is not going to change anything. All politicians whether democrat or republican are idiots. I cannot believe that people really choose between the 2 parties when all of it is really ignorant bull. This country is ran on greed. The government only prosecutes when money is taken from them be it directly or indirectly. In this case it is not, so no one is going to jail. Get over it! As soon as you all realize that, then you can quit whining!! Furthermore, it is NOT the insurance side of AIG that caused the issue, but the financial side. I am sick and tired of people posting ignorant comments about the insurance side of AIG when that part of AIG had nothing to do with the debacle in 2008. Lastly, a lot of the money has been paid back to the government. Pay attention people and read everything before posting ignorant comments about how much AIG owes the government. They do not owe $130B+ and in fact have paid back a huge chunk of the money.
Hey realist,spoken like a true AIG employee. All these people responsible for AIG’s involvement were AIG employees. So they managed to ruin the insurance operations by putting their company in peril. Your statement that the government only prosecutes when money is taken from them is odd. I guess it is ok if they take the money from the taxpayers who bailed them out via Turbo Tax Tim. We will be lucky to see $.25 on the dollar from this bailout when all is said and done.
I am not an AIG employee. Another error in one of your comments/responses. AIG didn’t take money from the taxpayers. AIG simply borrowed the money and some has already been paid back. Pay attention!
As realist pointed out, they merely “borrowed” the money from the taxpayers and have been paying it back. Of course, it may take them 20-30 years to pay it back unless Turbo Tax Tim forgives the debt after selling the government stake in AIG for $49 Bil like he proposes to do and we get hosed again for the difference. Where in the world would they get the money to pay a claim for flood? Answer: They would “borrow” it again from the Treasury.
Jail the ones who did this including those in top management in this country
tar and feathers
Where are these crooks at now?
I say the Govt should be able to take what it needs to repay the debt.
This is what happens when the industry goes unregulated and where insurers have immunity from the federal anti trust laws make the insurers subject to the anti trust laws, keep the banks, insurers and investment firms separate. Consolidated power corrupts.
Corruption at the highest levels of government, at Fannie Mae, Freddy Mac, AIG and other Wall Street firms were responsible for the economic meltdown we have been in since 07. Barney Frank, Chris Dodd, Chuck Schumer and others were primarily responsible. The SEC was asleep at the switch for failing to monitor transactions and stop this illegal behavior. The net result is what has happened and currently happening. These crooks should all be in jail with Bernie Madoff since this is the biggest Ponzi scheme ever perpetrated.
Spitzer was right.We filed a complaint with FTC.gov in 2007 after we found the fraud by Countrywide on our mortgage.
AIG pays all subprime defaults, because the mortgages were insured by AIG. AIG becomes insolvent, therefore needing the bailout money to protect their own interests. Then they pay themselves first.
You are correct AIG and their top dogs need to be in prison with Madoff. All a firmly planned scheme to defraud the government and taxpayers.Finally, all this caused the foreclosure mess and the CWALT trust06-08 paper got sold to other banks causing the “non compliance” by the banks to reset the loans to today’s market value.
The crooks used the savings and loan crisis as a ramp up for this lastbig rip off of the American people and capitolsm as a whole NO ONE IN THE GOVT SEEMS to CARE ITS ALL TALK about fix NO one is serious or the crooks and cronies would all be in jail by now. THE SEC better step up or there will be no tax monies for the govt to run on. AIG execs should get no money until all is paid back no money to share holders all monies should be deffered until all is paid back. Repeal the insurers rights to the federal anti trust laws NOW as a message this is an absolute embaressment the entire insurance industrty which in most parts is well funded and need no bail out
In todays news, we find that Turbo Tax Tim is planning to divest the government stake in AIG for the princely sum of $49 Bil. The last time I checked, they were into the taxpayers for $182 Bil leaving the taxpayers on the hook for a cool $133 Bil. They should make a cell ready next to Madoff for Tim since he is one of the biggest crooks in government. And he is a financial advisor to the Chosen One. Get the tar and feathers ready for Nov.
There is a surprising lack of prosecutions of the evil doers with these big firms like AIG, Goldman Sachs, Citigroup, Bear Stearns, Merrill Lynch etc who were doing all these sub prime default swaps which led to the mortgage/financial crisis. The answer is that they were very big lobbyists to Congress and the Administration and donated a lot of money to them (much of which is our money)from the bailouts. Many of these executives and Congressmen/Senators should be right next to Bernie Madoff, but our inept ideologue Eric Holder will not go after them. November please hurry. We need a house cleaning in the worst way.
The November election is not going to change anything. All politicians whether democrat or republican are idiots. I cannot believe that people really choose between the 2 parties when all of it is really ignorant bull. This country is ran on greed. The government only prosecutes when money is taken from them be it directly or indirectly. In this case it is not, so no one is going to jail. Get over it! As soon as you all realize that, then you can quit whining!! Furthermore, it is NOT the insurance side of AIG that caused the issue, but the financial side. I am sick and tired of people posting ignorant comments about the insurance side of AIG when that part of AIG had nothing to do with the debacle in 2008. Lastly, a lot of the money has been paid back to the government. Pay attention people and read everything before posting ignorant comments about how much AIG owes the government. They do not owe $130B+ and in fact have paid back a huge chunk of the money.
Hey realist,spoken like a true AIG employee. All these people responsible for AIG’s involvement were AIG employees. So they managed to ruin the insurance operations by putting their company in peril. Your statement that the government only prosecutes when money is taken from them is odd. I guess it is ok if they take the money from the taxpayers who bailed them out via Turbo Tax Tim. We will be lucky to see $.25 on the dollar from this bailout when all is said and done.
I am not an AIG employee. Another error in one of your comments/responses. AIG didn’t take money from the taxpayers. AIG simply borrowed the money and some has already been paid back. Pay attention!
We should have AIG take over the Federal Flood from the govt with the tax dollars owed us.
sounds like a plan!
As realist pointed out, they merely “borrowed” the money from the taxpayers and have been paying it back. Of course, it may take them 20-30 years to pay it back unless Turbo Tax Tim forgives the debt after selling the government stake in AIG for $49 Bil like he proposes to do and we get hosed again for the difference. Where in the world would they get the money to pay a claim for flood? Answer: They would “borrow” it again from the Treasury.
The insurance side of Chartis/AIG does not need to borrow anything. Let’s be clear on that!