Talking Points Media has posted the entire letter AIG sent to Treasury Secretary Geithner. It starts out fairly benign. It's not until the last two pages that nausea sets in:
On the other hand, we cannot attract and retain the best and brightest talent to lead and staff the AIG businesses - which are now being operated principally on behalf of the American taxpayers - if employees believe that their compensation is subject to continued and arbritrary adjustment by the U.S. Treasury.The best and brightest? The ones who got us into this mess are the best and brightest? CNBC is taking a sympathetic ear to AIG saying, "Only those who got AIG into the derivative market can get them out." Huh? You drove us into the ditch so now we need to rely on you to get us out?
I'm not inclined to populist outrage but the translation of the letter is very easy: Fuck you, American taxpayers.
I would gladly give my try at running AIG for the bargain basement price of $1 million. They know how to get a hold of me.
ReplyDeleteHmmmm... Dodd says give them their money and then tax them... I don't like this either. I'm with you Steve-o!
ReplyDeleteI like Grassley's comments that the AIG Execs shou commit Japanese style suicide.
ReplyDeleteI don't think that AIG understands that the money they recieved is to keep their assets protected. The idea is that a more successful, risk adverse business would be able to buy up those assets when the market turns to their favor.