AIG is the saga of blackmail, and this has nothing to do with bonuses

[Mike 03]

If you are so big that you can invent new financial instruments and market them to the largest institutions in the world--all over the world, from Eastern Europe to the UK, to Australia, and use them to back pension funds, retirement plans and 401ks--you make yourself too big to fail.

Because if you fail, the world collapses.

And if you can hold that threat, of making the global economy fail, over the heads of the world banks, the treasury, the fed, then I call that a kind of blackmail.

AIG's crime was arrogance and greed, but what is so offensive about this nightmare is that they knew that by writing these credit default swaps all over the world they were going to hold us all by the balls.

I say, subpoena not Liddy, who has been brought in to save the damned situation, but these shameless psychopaths like Greenberg, Sullivan and (especially) Joseph Cassano, the latter of whom can explain how he made this catastrophe unfold.

Hank Greenberg has been on a publicity tour lately proclaiming his innocence: Please, don't believe it. It's true that he was not guilty of the most salient irresponsibilities, but he set this thing in motion. Sullivan is much more guilty. But they both need to own up to what they did.

[malaise]

1. I don't think their crime was arrogance and greed

I think their involvement in all the major global banks was much more sinister.

[Andy823]

2. What comes to my mind

Is "world domination" by a select few! The Bush families "NEW WORLD ORDER"!

[malaise]

4. Ding ding

We have a winner. They have looted the planet for power.

[glitch]

6. Sadly agreed. nt

[marketcrazy1]

3. have you seen this Mike 03

if this aint blackmail I dont know what is............... http://www.scribd.com/doc/13116173/AIGs-Report-to-Senate-Banking-Committee

[Octafish]

5. The Secret (Insurance) Agent Man

http://articles.latimes.com/2000/sep/22/news/mn-25118

Hank Greenberg's a real card. So was Ken Starr's uncle.