AIG's Best and Brightest? Try Dumb and Dumbest

[katty]

more:

http://www.alternet.org/workplace/131939/aig%27s_%22best_and_brightest%22_try_dumb_and_dumbest/

The top guys at AIG are trying to cheat honest taxpayers out of their money. Tools


You don't have to be a financial expert to appreciate the irony in the letter that Edward Liddy, the government-appointed chairman of AIG, sent to Treasury secretary Timothy Geithner on Saturday.

To explain why bonuses of $165 million were needed to keep the top guys at the insurance giant, Liddy wrote: "I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them." And yet, he said, "We cannot attract and retain the best and the brightest talent to lead and staff the AIG businesses -- which are now being operated principally on behalf of American taxpayers -- if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury."

The best and the brightest, huh? We are talking about the dudes at AIG's financial products division, which helped effect the sub-prime mortgage crisis and to nearly level the global economy too. (Until February 2008, the division was headed up by Joseph Cassano, named by CNN as one of the "Ten Most Wanted Culprits" of the financial collapse.) And yet there are some of Cassano's remaining colleagues, receiving individual bonuses as large as $6.5 million.

[Wapsie B]

1. It's as if a bunch of incompetent drunken frat boys failed their way to the top.

No wonder some of them idolized *. He was one of them! And I have little doubt that to get one of these jobs one must have the right pedigree; the correct degree from an acceptable school.

[Karenina]

2. On the contrary! They did what they were hired to do

and have been richly compensated for their participation and likely deals involving silence. TAKE THE MONEY AND RUN!!!

[bemildred]

3. Tools and toolest.

Paid for shutting up and not asking any questions.