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quantmeh
Posts: 5974
Joined: April 6th, 2007, 1:39 pm

$12.9 bln to Goldman Sachs. what a coincidence ppauper Posts: 70239 Joined: November 15th, 2001, 1:29 pm ### AIG next ? execs should follows the japanese model ? quantmeh Posts: 5974 Joined: April 6th, 2007, 1:39 pm ### AIG next ? QuoteOriginally posted by: ppauperexecs should follows the japanese model ?apparently, AIG's dept which killed the company is loacted in London. we should expect the British model then. i don't know what they do in UK when sink the mothership ppauper Posts: 70239 Joined: November 15th, 2001, 1:29 pm ### AIG next ? QuoteOriginally posted by: jawabeanQuoteOriginally posted by: ppauperexecs should follows the japanese model ?apparently, AIG's dept which killed the company is loacted in London. we should expect the British model then. i don't know what they do in UK when sink the mothershipIf that's the case, then John Bull, not Uncle Sam, should be giving hundreds of billions to AIG ppauper Posts: 70239 Joined: November 15th, 2001, 1:29 pm ### AIG next ? QuoteOriginally posted by: ppauperAIG to make$165 million in bonus paymentsthis makes both AIG and congress look badObama Knew About AIG Bonuses Day Before They Were PaidBut didn't publicly express outrage until after disclosed in mediaand thisObama Received a $101,332 Bonus from AIG J Posts: 1798 Joined: November 1st, 2001, 12:53 am ### AIG next ? It looks like internal control in AIG failed. I wonder if CRO in AIG knows "risk management" jfuqua Posts: 1255 Joined: July 26th, 2002, 11:41 am ### AIG next ? Has Maurice Hank Greenberg's reputation been vindicated after the attacks of AG Spitzer ? Greenberg has appeared on Charlie Rose several time and other business programs along side reporters and analysts and I've never heard him attacked---in fact they treat him as a 'sage.' Charlie Rose has good guests but like to hear himself talk and does not probe very deep, so his having Greenberg on may not mean much. fars1d3s Posts: 451 Joined: August 14th, 2004, 12:28 pm ### AIG next ? QuoteOriginally posted by: ppauperexecs should follows the japanese model ?Japanese managers in general are far more honorable than their American counterparts. Same with their morality and their civility too.So yes, execs should follow the japanese model, because it is an honorable model. ppauper Posts: 70239 Joined: November 15th, 2001, 1:29 pm ### AIG next ? QuoteOriginally posted by: fars1d3sQuoteOriginally posted by: ppauperexecs should follows the japanese model ?Japanese managers in general are far more honorable than their American counterparts. Same with their morality and their civility too.So yes, execs should follow the japanese model, because it is an honorable model.I think he meant hari-kari ppauper Posts: 70239 Joined: November 15th, 2001, 1:29 pm ### AIG next ? hedge funds may get AIG bailout cash ppauper Posts: 70239 Joined: November 15th, 2001, 1:29 pm ### AIG next ? QuoteOriginally posted by: jawabeanapparently, AIG's dept which killed the company is loacted in Londonif this is true, the the folks who killed AIG are located in the UK and presumably out of the reach of the IRS.We likely all saw congress discuss that 90% tax on bonuses of bailed-out companies (the background being that both congress and the treasury were shocked and appalled when they learnt of these bonuses, then later Senator Dodds (Dem, CT) fessed up that he'd put these bonuses into legislation at the request of the treasury).Anyhoo, if what jawabean is true, then this 90% cannot be applied to the AIG unit in london. quantmeh Posts: 5974 Joined: April 6th, 2007, 1:39 pm ### AIG next ? QuoteOriginally posted by: ppauperWe likely all saw congress discuss that 90% tax on bonuses of bailed-out companies i didnt watch it, i cant stand this stupidity. as if they had nothing else to do in congress. leave it for govt.govt allowed AIG to do this. but even this is not the biggest fish. i think what Goldman did is the most interesting. look, they didn't ask for any money from govt, because they knew that it comes with strings attached. instead, they got$12bln without any conditions from AIG, which got \$90 bln from govt. Goldman got the best deal. of course, it's only a coincidence that its former CEO (who probably knew about their positions with AIG) was handling the whole bail out money, and its recent alumnus is TARP guy. a few months ago GS was saying they don't have any significant exposure to AIG. i guess, 12bln is insignificant.

ppauper
Posts: 70239
Joined: November 15th, 2001, 1:29 pm

### AIG next ?

QuoteOriginally posted by: jawabeana few months ago GS was saying they don't have any significant exposure to AIG. i guess, 12bln is insignificant.or they knew they'd be getting the bailout money so they really didn't have any exposure

ppauper
Posts: 70239
Joined: November 15th, 2001, 1:29 pm

### AIG next ?

QuoteOriginally posted by: jawabeanQuoteOriginally posted by: ppauperWe likely all saw congress discuss that 90% tax on bonuses of bailed-out companies i didnt watch it, i cant stand this stupidity. as if they had nothing else to do in congress. leave it for govt.checks and balances.congress is supposed to watch over these things.But the hearings are for show.One analogy I heard was that an angry mob was running towards congress over this, so congress just joined the mob and started chasing the person behind them

quantmeh
Posts: 5974
Joined: April 6th, 2007, 1:39 pm

### AIG next ?

QuoteOriginally posted by: ppauperQuoteOriginally posted by: jawabeanQuoteOriginally posted by: ppauperWe likely all saw congress discuss that 90% tax on bonuses of bailed-out companies i didnt watch it, i cant stand this stupidity. as if they had nothing else to do in congress. leave it for govt.checks and balances.congress is supposed to watch over these things.But the hearings are for show.One analogy I heard was that an angry mob was running towards congress over this, so congress just joined the mob and started chasing the person behind themappropriate check/balance in this case would be to get Treasury secretary and do some kind of vote of confidence, or reprimand him. make him fix this issue somehow.it's not a good precedent when congress applies a law specifically targeted at 73 individuals.