AIG Was an Inside Job!
The AIG "bonus" scandal frenzy is a way to distract us and throw us off the scent of the real scandal. To wit:
The Real AIG Scandal
By Eliot Spitzer | Slate | March 17, 2009
Snip:
...we need to go back to the very first decision to bail out AIG, made, we are told, by then-Treasury Secretary Henry Paulson (formerly of Goldman), then-New York Fed official Timothy Geithner (formerly of Goldman), Goldman Sachs CEO Lloyd Blankfein, and Fed Chairman Ben Bernanke last fall. Post-Lehman's collapse, they feared a systemic failure could be triggered by AIG's inability to pay the counterparties to all the sophisticated instruments AIG had sold. And who were AIG's trading partners? No shock here: Goldman, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays, and on it goes. So now we know for sure what we already surmised: The AIG bailout has been a way to hide an enormous second round of cash to the same group that had received TARP money already...
The appearance that this was all an inside job is overwhelming. AIG was nothing more than a conduit for huge capital flows to the same old suspects, with no reason or explanation. So here are several questions that should be answered, in public, under oath, to clear the air:
- What was the precise conversation among Bernanke, Geithner, Paulson, and Blankfein that preceded the initial $80 billion grant?
Was it already known who the counterparties were and what the exposure was for each of the counterparties?
- What did Goldman, and all the other counterparties, know about AIG's financial condition at the time they executed the swaps or other contracts? Had they done adequate due diligence to see whether they were buying real protection? And why shouldn't they bear a percentage of the risk of failure of their own counterparty?
- What is the deeper relationship between Goldman and AIG? Didn't they almost merge a few years ago but did not because Goldman couldn't get its arms around the black box that is AIG? If that is true, why should Goldman get bailed out? After all, they should have known as well as anybody that a big part of AIG's business model was not to pay on insurance it had issued.
- Why weren't the counterparties immediately and fully disclosed?
Failure to answer these questions will feed the populist rage that is metastasizing very quickly. And it will raise basic questions about the competence of those who are supposedly guiding this economic policy.
Full article at Slate
Betting on Geithner’s Exit March 18, 2009, 12:19 pm
Calls for Mr. Geithner’s resignation have grown louder after the flap over $165 million in bonus payments at the American International Group, the insurance giant bailed out by the government.
http://dealbook.blogs.nytimes.com/2009/03/18/betting-on-geit...
AIG bonuses: new cloud over Geithner
This Guy has got to go along with the rest.
Excerpt:
Is Geithner on his way out because of the way he handled the news that American International Group Inc., was about to pay $165 million in post-bailout bonuses?
He should be, according to Rep. Connie Mack, R-Fla., the first member of Congress to demand that Geithner step down.
"He has lost the confidence of the American people," Mack said in a statement Wednesday. "Timothy Geithner should either resign or be fired for the good of the country."
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/03/18/...
I got it figured out...
This comment was posted to the Chronicle today:
http://www.chron.com/disp/story.mpl/front/6317820.html
Here is the text of my post:
Ok, I got it. I have been avoiding this article for as long as I could. I finally took the time to read it and it occurred to me that these people (AIG and their top execs) knew that there would be outrage over the bonuses. They knew the American People and congress would be livid. So, I tried to figure out the why. My logic has concluded that one of the following situations must be the "why"... a.) They needed money because their homes were being foreclosed on and their family was starving to death and living in tents or b.) They made the arrangement in order to help the government (don't care about which administration, it really doesn't matter) gain more and broader control over the private sector (i.e. this quote from the AP article "...President Barack Obama said Wednesday he wants legislation to give the federal government vast new powers over financial institutions like AIG to protect the public."
So, which do you think is the most logical explanation ?
Various government agencies have been known to cause a scare to get a reaction to enact a law on more than one occasion. Congresspeople and laypeople are just pawns in the game of the rich and powerful.
Check this out:
http://video.google.com/videoplay?docid=6546044203900048624&...
Vote for Liberty...Buy Silver Eagles.
Something interesting...
Campaign Contribution to Congress by AIG
Open secrets ^ | 09.16.08 | Perdogg
Posted on Tuesday, September 16, 2008 6:40:06 PM by Perdogg
Name Office Total Contributions
Dodd, Christopher J (D-CT) Senate $104,300
Obama, Barack (D-IL) Senate $45,111
McCain, John (R-AZ) Senate $41,200
Clinton, Hillary (D-NY) Senate $36,831
Baucus, Max (D-MT) Senate $24,750
Biden, Joseph R Jr (D-DE) Senate $19,975
Romney, Mitt (R) Pres $19,950
Sununu, John E (R-NH) Senate $15,950
.
.
here's a link: http://209.157.64.200/focus/f-news/2083881/posts
.
At first splash of Eden we race down to the sea,
standing there on Freedom's Shore....
What can be said of a people who would sell their own children into slavery, using the rational that it is to protect their freedom?
interesting
so what's Spitzer up to these days?
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
IT"S REAL SIMPLE, AIG was the FALL GUY!
AIG, is the Insurance Company that insured all those TOXIC LOANS made by Goldman, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays, and on it goes.
Under normal circumstances an insurance company the size of AIG would have refused to stand behind their policies to pay off these toxic loans. That due to gross misrepresentation by the above mentioned banks, AIG was induced to insure JUNK securities, that were represented as AAA rated. (Blacks Law; Fraud vacates all contracts).
Time will uncover the truth, and its starting to come out as we speak; someone had to take the fall for the financial mess the above-mentioned Banks got them selves into. And it was NOT going to be the actual OWNERS of the Federal Reserve Bank. So they choose AIG to take the fall. I'm sure it was all talked out behind closed doors, with BIG BIG BIG bonuses promised to AIG Executives for going along with the plan.
Why do you think Henry Paulson insisted on an “Immunity from Prosecution Clause” be written into the original TARP Bill in the first place?
The answer is simple; Henry Paulson knew exactly what they were planning against the American people, and AIG’s stock holders. Paulson knew their plans were nothing less than fraudulent, and therefore illegal. Thank God they didn't give him his immunity.
The only question remaining is, does Congress have the BALLS to take these criminals to task!
In closing these guys are all crooks, nothing less than Financial Terrorists against the American people, and the United States financial system. They all need to be tried under their own Patriot Act, as the terrorists they are.
hjschaapman
The Winds of Change!
Significant testimony links AIG to 9/11
"Jack Blood of gcnlive.com interviews Richard Andrew Grove, an AIG insider and whistleblower. This is an insider expose of the AIG / Kroll spook company, their ties to 9/11 and their new financial 9/11."
http://video.google.com/videoplay?docid=6546044203900048624&...
Excellent listen for all!!!
It helps confirm my suspicion that 911 and AIG are intricately woven, making 911 as much a financial crime as it was a poplitical crime.
..............
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
Vote for Liberty...Buy Silver Eagles.
Many thanks for the video link
I'll be sending it far and wide. Have many thick skulls to penetrate. I would love to know just how many loose canons were invited to the 96th floor that fatal day. May God have mercy on them all.
I heard that AIG was taken down by 19 Harvard graduates?
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"The consolidation of the states into one vast republic, sure to be aggressive abroad and despotic at home, will be the certain precursor of the ruin which has overwhelmed all those that have preceded it."
- Robert E. Lee, 1866
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RON PAUL 2012
All this hoopala over $170 million in bonuses?
Give me a break! This is chump change compared to the billions that were doled out for these rascals, and even the Trillions that are ultimately involved. I'm past the point of expecting any responsibility out of Congress. They are proven lackeys for the special interest groups funded by the global cabal. First, our Congress authorizes this ludicrous bailout money to AIG, and then they want to shake their finger in their face over a few crums that fell off the table. Why, from a business perspective, if a business exec went out and secured a $200 billion deal for his company, he'd expect at least a 5 or 10 percent commission on the deal. Somebody did a fantastic sales (snow) job at AIG. They're real pros! The problem is not AIG. It's our beloved Congress people who have become lapdogs to the Federal Reserve, and whoever ultimately controls them. Make sure you Congress man is held accountable on Ron Paul's H.R. 1207. This would be a great, first step in regaining responsible government.
alan laney
Assassination of New York Governor Eliot Spitzer
http://www.youtube.com/watch?v=GMo7T9t0Gzk
Most people have the sense that there was something
bizarre and surreal about the sudden coordinated
FBI and US news media attack on New York Governor
Eliot Spitzer.
After all, unproven allegations about how he may have
chosen to spend his own money on his own time hardly
seems a worthy subject of front page news for a week
straight.
Meanwhile, the US news media remained characteristically
clueless about why Spitzer was taken out.
It's simple.
He had the goods on Bush adminstation colusion with
predatory lenders and was preparing a case that would
have tied the administration directly to wide spread
fraud and criminality in the lending business.
http://www.washingtonpost.com/wp-dyn/...
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World's Greatest Business
http://www.gbemembers.com/webintro.php?view=wmv
"The Number one reason people lose money is the FEAR of losing money." Sir John Templeton
"GINO" = Government In Name Only
AIG - The Same Criminals Who
AIG - The Same Criminals Who Pulled 9/11 Have Justfied More Big Government
9/11 and the AIG Greenberg Familia
http://www.dailypaul.com/node/62136
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World's Greatest Business
http://www.gbemembers.com/webintro.php?view=wmv
"The Number one reason people lose money is the FEAR of losing money." Sir John Templeton
"GINO" = Government In Name Only
This is one "inside job" theory ...
that already has convictable circumstantial evidence in the light of day.
WAHOR!!
http://www.dailypaul.com/node/48994
WAHOR!!
http://www.dailypaul.com/node/48994
"Like The Economy Stupid? - Google Ron Paul!"
~~~~~~~~~~~~~
World's Greatest Business
http://www.gbemembers.com/webintro.php?view=wmv
"The Number one reason people lose money is the FEAR of losing money." Sir John Templeton
"GINO" = Government In Name Only
The author is the same Eliot Spitzer
who was caught with the prostitution thing. No wonder they wanted him to get ruined. He has enough gumption to tell the truth about them.
Yup.
Same one.
This is the article in the Washington Post that got him killed:
Predatory Lenders' Partner in Crime
"Like The Economy Stupid? - Google Ron Paul!"
~~~~~~~~~~~~~
World's Greatest Business
http://www.gbemembers.com/webintro.php?view=wmv
"The Number one reason people lose money is the FEAR of losing money." Sir John Templeton
"GINO" = Government In Name Only
Bingo
~~~~~~~~~~~~~
World's Greatest Business
http://www.gbemembers.com/webintro.php?view=wmv
"The Number one reason people lose money is the FEAR of losing money." Sir John Templeton
"GINO" = Government In Name Only