Tagged: aig

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Did you hear that BVG is super pissed at AIG about CDO-linked CBLs they signed in the 90s? It's true. BVG lost EUR 247m last year, five times their losses from the year before-and a lot of it has to do with the now-imploding AIG and its fancy collaterized debt obligations. Berlin's public (and deeply in-debt) transport company, the Berliner Verkehrsbetriebe, like hundreds of munipalities in Germany and across Europe, were in 1997 approached by wise guys from Deutsche Bank and Daimler Financial. They were offered a great, one-time-only, hard-to-refuse opportunity: just rent us your subway cars, we (as owners) [...]

D. Ricky Rodriguez As you read earlier today, Middle Tennessee's flagship band, The Features, are on the fast track to playing Middle Tennessee's flagship festival, Bonnaroo. Last night, within hour... Continue reading "Golden Nugget: The Features Message Board Exhumed and Archived" >

CBS News and Gallup are out with new polls this morning, showing that a significant number of Americans disapprove of Obama's performance in a particular area: the handling of AIG. 42 percent of respondents say they disapprove of Obama's performance with regard to AIG while 41%, a statistical tie, approve. But, despite the AIG fiasco, Obama's overall approval remains at 64%. Meanwhile, 61% approve of his handling of the economy, up five points from last week. That's right, UP 5 points. Dude is bulletproof. This seeming invincibility makes me even more proud of the [...]

Matt Taibbi of Rolling Stone argues that the financial bailout and economic collapse isn't necessarily about money . It's about power. And the government is losing. People are pissed off about this financial crisis, and about this bailout, but they're not pissed off enough. The reality is that the worldwide economic meltdown and the bailout that followed were together a kind of revolution, a coup d'état. They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money [...]

AIG uses tax payer money to sue their majority owner, in this case the US Government, to recover some $306 million in tax payments, some related to offshore tax havens. The lawsuit, filed on Feb. 27 in Federal District Court in Manhattan, details, among other things, certain tax-related dealings of the financial products unit, the once high-flying division that has been singled out for its role in A.I.G.'s financial crisis last fall. Other deals involved A.I.G. offshore entities whose function centers on executive compensation and include C. V. [...]

Meme via Awful Announcing Yall. I'll be honest. I was a big Obama supporter-even supported him enough to follow him on twitter. I felt a lot of 'pride' when he was elected since I am partially 'black' [via Pangea]. However, I think some1 needs 2 tell him that the campaign is over. He doesn't need to focus on his personal brand any more. He doesn't need 2 waste his time doing gimmicks that help him 'relate 2 the common man.' [...]

From Balloon Juice : If our entire era could be described in a single picture, it would be this one (from Fairfield County Look via TPM ): the current head of AIG Financial Products (the division that lost all the money) wearing a Che Guevara tee-shirt at a cocktail party. Gerry Pasciucco is a criminal douche on an entirely different level.

President Obama sure has no qualms being a trailblazer as he is set to make history once again by appearing on The Tonight Show With Jay Leno this Thursday. According to NBC, he will be the first sitting President to appear on this type of show. Nice to see him keeping the transparency with the public during these difficult times. Hopefully he'll keep the pressure on supposedly beleaguered behemoth AIG, which is set to hand out $165 million in bonuses after receiving $170 million billion in [...]

I saw some pretty disturbing news the other night on TV that pissed me off: AIG executives going to expensive conferences while people across the US are losing their homes and their jobs. We should all be pissed and disgusted! They should KNOW BETTER! You don't ask the taxpayers (via the Government) to save your ass and then continue to enjoy the perks. You don't run your business into the ground and act like you're the privileged few! Once again, it's corporate greed and arrogance on full display. Check it [...]

Need one more incentive to go to the polls tomorrow? Take a listen below to the fun new song from St. Louis bluesman Bob Case that improbably touches on everything from the bailout of AIG to the presidency of Millard Fillmore . Fair Warning: The song contains partisan lyrics that may offend some listeners, especially the 30 percent who (somehow) still favor the current administration . MP3: Bob Case, "Devil in the White House" [...]

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I know this is slightly old but I NEEDED to post this f-ckery for archival purposes. Related: "White House calls AIG's spa trip 'despicable' - Executives went to resort days after government bailed company out." [MSNBC.com]

With all the events of this week, it's hard not to lose faith in our capitalistic country. And therein may be the problem......putting faith in capitalism and not The Creator. Institutions, i.e. Lehman and AIG , are made up of 'fallen' men. We are all fallen and greed is always in our midst. Save the hand of God on a person's life that person will inevitably choose from a selfish heart. And in this case, "How much money is enough?"....just a little bit more. Bill O'Reilly reminds us of [...]