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2009-03-21 Home Front Economy

Connecticut AG Says AIG Paid $218 Million In Bonuses - Report

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Posted by tipper 2009-03-21 12:18|| || Front Page|| [6 views ] Top

#1 Does anyone else smell anything... or is it just me. May I suggest DoJ and the FBI follow the money for a month or two. I might be very interesting to see exactly where it has gone.

Posted by Besoeker 2009-03-21 12:49|| 2009-03-21 12:49|| Front Page Top

#2 You really do have to ask if AIG is not just a front for a criminal enterprise.
This is a letter from Maurice Greenberg, the US founder of AIG. (Unfortunately I can't access the link because our Australian government appears to have joined that long list of free speech advocates like Saudi Arabia, China, Zimbabwe, UAE etc and decided to ban Wikileaks)
Many blame the financial problems on the legal problems AIG began having as a result of a number of government investigations alleging fraud and other inproprieties which went all the way to the office of its then chairman, Maurice Greenberg. These problems placed such a focus on AIG's activities that it created a level of required transparency and fear of getting caught, which many believe forced the company to be less active and willing to cheat its way out of these problems. A manner of doing business it learned with its core activity of denying legitimate insurance claims and then pressuring its insureds, their witnesess and anyone else coming to their support while trying to intimidate judges and insurance commissioners. So who began all this? In may 2001 an insurance claimant and shareholder by the name of Cesar Balbin stepped into the annual shareholders meetings. For the first time ever in the company's history, AIG was publicly accused and exposed for criminal and civil racketeering activities including: extortion, blackmale, claims fraud, theft of company equity and so on. Balbin, knew the company was fragil. The ball of snow he started came down hill and grew as it did. It took with it the chairman, billions of dollars and led to a greater transparency and fear that possibly contribuited to inaction by many at AIG to participate in its typically less that legal and proper activities required to keep the company afloa

Posted by tipper 2009-03-21 13:14|| 2009-03-21 13:14|| Front Page Top

#3 Meh. I'd look three times at anything Blumenthal says. He has all of the aggressiveness, ego, and political ambition of Elliot Spitzer, but half the intelligence.

Posted by Pappy 2009-03-21 13:30|| 2009-03-21 13:30|| Front Page Top

#4 He has all of the aggressiveness, ego, and political ambition of Elliot Spitzer, but half the intelligence.

And twice the libido -- w/a pronounced hard on for higher office -- for Dodd's seat, as it were...

Posted by regular joe 2009-03-21 17:09|| 2009-03-21 17:09|| Front Page Top

#5 You really do have to ask if AIG is not just a front for a criminal enterprise.

I had car insurance with them, tipper---there ain't nothing "front" about them.

Posted by g(r)omgoru 2009-03-21 18:47|| 2009-03-21 18:47|| Front Page Top

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