AIG

[aa battery]

now i am making my car insurance payments to the federal reserve

 

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[G.I.B.]

You just don't understand...

The executives of such companies, to include the Freddie and Fannie folks, have made millions over the years...

That is millions, each year, for many years.

Now then, they are in a little bit of a slump. In order to continue to make millions, each year, for many more years, they need YOUR extra money.

See?

 

[aa battery]

You just don't understand...

The executives of such companies, to include the Freddie and Fannie folks, have made millions over the years...

That is millions, each year, for many years.

Now then, they are in a little bit of a slump. In order to continue to make millions, each year, for many more years, they need YOUR extra money.

See?

thanks for clearing that up for me

 

[Noodle]

I really don't know how this works, but I had somebody point out to me this week that the only reason the 401k is pushed so much by the gov't is because it can be taxed after you begin to draw on it. It may be tax-free while you're putting into it, but once you begin to draw on it after you retire, it's taxed just like regular income, no matter how old you are.

And when the companies you are investing in fold, your investment goes down or OUT, very quickly. Thousands of people lose thousands of dollars when their investment companies go down or away. I've seen folks in the past lose $70,000 from an investment of 15 years retirement investment on an ordinary salary.

Anybody help me out on this? Clarify?

Noodle

 

[G.I.B.]

My mother worked for ENRON. You got it about right...

 

[aa battery]

let me get this straight. I pay car insurance to AIG then pay taxes to bail them out? Something is up.

 

[G.I.B.]

AA: Here is a portion of a New York times article in 2005... The failure, due to executive excessive compensations (in part) was predicted back then.

Here is the excerpt... maybe this will help you understand.

For example, Martin J. Sullivan, the chief executive and successor to Mr. Greenberg, received a salary of $775,000 and a bonus of $830,000 last year from A.I.G. His long-term pay under the Starr International plan was an additional $4.2 million.

The proxy also noted that Mr. Sullivan would receive a $4.9 million transition payment in cash for assuming the top job at A.I.G. this year. That payment would be in addition to his salary of $1 million.

Under the Starr International long-term pay plan, Mr. Greenberg received $10.1 million in 2004; that came on top of $1 million in salary and a bonus of $8 million from A.I.G.

The compensation given to executives under the Starr plan is not paid in cash, the filing noted, but in A.I.G. shares that the executives stand to receive when they retire from the company at age 65. The value of the awards for 2004 is based upon the number of A.I.G. shares allocated under the plan multiplied by the stock's price as of Dec. 31, 2004.

A.I.G.'s 11 top executives were allocated $42.4 million in shares under the Starr International plan last year.


http://query.nytimes.com/gst/fullpage.html?res=9E05E1DE1731F93BA15755C0A9639C8B63

Don't you see it now Can you not understand this

Well, if you can't, so what, just open your wallet and bend over.

 

[aa battery]

AA: Here is a portion of a New York times article in 2005... The failure, due to executive excessive compensations (in part) was predicted back then.

Here is the excerpt... maybe this will help you understand.

For example, Martin J. Sullivan, the chief executive and successor to Mr. Greenberg, received a salary of $775,000 and a bonus of $830,000 last year from A.I.G. His long-term pay under the Starr International plan was an additional $4.2 million.

The proxy also noted that Mr. Sullivan would receive a $4.9 million transition payment in cash for assuming the top job at A.I.G. this year. That payment would be in addition to his salary of $1 million.

Under the Starr International long-term pay plan, Mr. Greenberg received $10.1 million in 2004; that came on top of $1 million in salary and a bonus of $8 million from A.I.G.

The compensation given to executives under the Starr plan is not paid in cash, the filing noted, but in A.I.G. shares that the executives stand to receive when they retire from the company at age 65. The value of the awards for 2004 is based upon the number of A.I.G. shares allocated under the plan multiplied by the stock's price as of Dec. 31, 2004.

A.I.G.'s 11 top executives were allocated $42.4 million in shares under the Starr International plan last year.


http://query.nytimes.com/gst/fullpage.html?res=9E05E1DE1731F93BA15755C0A9639C8B63

Don't you see it now Can you not understand this

Well, if you can't, so what, just open your wallet and bend over.

LOL AIG bought out my original insurance company 21st Century a few months ago.Now they knew they were in trouble but still did it.As far as my wallet nothing is in it and i walk bent over all the time

 

[mastereagle22]

AA

What it all boils down to is this. Congress, The Presidental Candidates and all other elected officials that run campaigns get money from AIG. BIG money. So they decided that the people at the top who have mismanged the company and gotten paid Millions of dollars in the process, should be allowed to leave without penalty while we the tax payers making on average of $30,000-$100,000 a year bail out this multi-Billion dollar screw up because you and I are too stupid to realize we are getting screwed.

AIG insures other banks and their loans in case of default so if the Gov't had let them collapse it would have destroyed hundreds if not thousands of other banking institutions crippling the U.S. economy.

AGAIN I say let the SOB's that ran these companies pay back the Millions they have made in the last few years to help ease the burden we as tax payers will have to make up.

But I can promise you that will never happen.

 

[rmptr]

There is, without doubt, criminal activity going on as we discuss this that will most likely go unpunished.

It's most likely we'll end up like denmark or one of those countries where they pay a 75% tax on wages.

That is, if it doesn't completely crash.

This newest 85 billion bailout for AIG is just alloweing some of the wealthy to re-structure their affairs.

Once again, there is a presentation, and daily commentary, on financial affairs such as these to be found at Automatic Earth... just Google Ilargi Automatic Earth.

The fellow makes a very understandable presentation... of what just happened to all of us!

It's all supported, and NOT hearsay or speculation.

Best
rmptr

 

[mastereagle22]

What just happened is we all just got screwed!

IT's really quite simple as that.

 

[rmptr]

Here's another glimpse at the situation.
85 billion just will NOT fix it.
Money from OUR future earnings is being given to some fat cats.
I will guarantee a number of them, the chosen few, will come out smelling like a rose.
Perhaps at a vacation home on Myorca, or in the Bahamas.

This was at 1pm, NY time, 9/17/08.



Best
rmptr

 

[Smee]

If I didn't have to help pay for it, I would be laughing my butt off.

I lost my job once, made a premium payment one week late, and they cancelled my coverage. I called them before the payment was due and told them that it would be an extra week before they were paid (payment actually in the mail when policy expired) so they should have known I wasn't trying to beat them out of anything. They told me that if I couldn't pay on time, they didn't want me as a customer. That was in 1999. In the last 6 months, probably got a dozen letters asking me to try them again. Glad I didn't.

They're just a bunch of jerks anyways.

 

[Ray S ECenFL]

AA

What it all boils down to is this. Congress, The Presidental Candidates and all other elected officials that run campaigns get money from AIG. BIG money. So they decided that the people at the top who have mismanged the company and gotten paid Millions of dollars in the process, should be allowed to leave without penalty while we the tax payers making on average of $30,000-$100,000 a year bail out this multi-Billion dollar screw up because you and I are too stupid to realize we are getting screwed.

AIG insures other banks and their loans in case of default so if the Gov't had let them collapse it would have destroyed hundreds if not thousands of other banking institutions crippling the U.S. economy.

AGAIN I say let the SOB's that ran these companies pay back the Millions they have made in the last few years to help ease the burden we as tax payers will have to make up.

But I can promise you that will never happen.

I think there is someting else going on with these bail outs. If you listen to the reports, you will find out that the bail outs are being focused on companies with foreign investors. Fannie and Freddie have foreign investments. IMHO, the US Government is so far in hock to so many foreign countries that they can not screw them out of their investments by letting these US financial entities go belly up. What is the cure? Bend over the taxpayer and let them foot the bill while the folks who were suppose to be running these companies, get a golden parachute and bail out of the financial mess to live happily ever after. You and I get the shaft. Nuff said.

Ray S

 

[rmptr]

That, is exactly how I feel about it, Ray.

If a loan is not paid, we knows what happens... the lender takes possession of the collateral.

Best
rmptr

 

[aa battery]

That, is exactly how I feel about it, Ray.

If a loan is not paid, we knows what happens... the lender takes possession of the collateral.

Best
rmptr

 

[Smee]

That, is exactly how I feel about it, Ray.

If a loan is not paid, we knows what happens... the lender takes possession of the collateral.

Best
rmptr

You can buy a lot of commercials with that much money, they just started playing them again on "Hallmark Chanel" during "Little House on the Prairie".

... and you can save up to $312 by switching to AIG too!

 

[Real de Tayopa Tropical Tramp]

Relax peple. It is just one more step in convincing the people to cry for Gov't regulation which will be almost the final nail in the coffin of our poor battered constitution.

Don Jose de La Mancha

 

[rmptr]

Ouch!

Now we get beat up by the 'border surfers'?

Ouch! Ouch!



Andale!

Best
rmptr

 

[mastereagle22]

Do any of you think it is just coincidence that this is happening so close to the election?