Now-you want to talk about the UAW and the employees and other middle class families, here is really where your tax money is going and how it is been spent, we should be screaming about this and not at the hard working middle class families union and non-union workers. Cooperate greed are the ones that [...]
You may remember that AIG — which is afloat only thanks to a bailout by you, the taxpayer, to the tune of $152 billion and counting–made a whole lot of public relations when its top seven executives agreed not to take bonuses this year.
Well, on the eve of Thanksgiving, obviously knowing the markets would be [...]
The name bonus has been rescinded. It will not be used by any Major Corporation again. In it’s place they have instituted something called “Retention” and “Retention compensation”. Here are two articles on it: Read and learn.
Citigroup Chairman Says New Bonus Systems Aren’t ‘Magic Bullet’
By Elena Logutenkova Nov. 28 (Bloomberg) –
Citigroup Inc. Chairman Win Bischoff [...]
– American International Group Inc., the insurer that said yesterday it scrapped bonuses for top executives after a U.S. bailout, will still pay 130 managers “cash awards” to stay with the firm, including $3 million to retirement services chief Jay Wintrob. Wintrob, 51, will get the “retention” payment in two installments, the first in April [...]
AIG, U.S. Department of Treasury Complete $40 Billion Preferred Stock Sale Under
TARP
Sale is Part of AIG’s Comprehensive Solution Announced on November 10th
NEW YORK, Nov 25, 2008 (BUSINESS WIRE) — American International Group, Inc.
(AIG) said today that the U.S. Department of the Treasury has purchased four
million shares of AIG Series D Preferred Stock and a warrant [...]
By Christine Harper and Bradley Keoun
Nov. 21 (Bloomberg) — Citigroup Inc. will probably get rescued by the U.S. government after a crisis in confidence erased half its stock-market value in three days, investors and analysts said.
Citigroup has more than $2 trillion of assets, dwarfing companies such as American International Group Inc. that got U.S. support [...]
Nov. 20 (Bloomberg) — The U.S. may need to spend as much as $1.2 trillion to stabilize the eight largest financial institutions because private investors are unwilling to take the risk, an FBR Capital Markets analyst said.
“The sheer size of the capital deficiency, coupled with the opaque nature of credit risk, will keep private [...]
We are now starting to see the contagion effects of the current liquidity crisis feed through to the real economy. We are about to go back to the bad old days. Whether the zombie banks are kept on life support by the central banks and taxpayers of the world is highly relevant to whether the [...]
“AIG reports third-quarter record loss of $24.47 billion”
And as a reward Americans give them future tax dollars and no one goes to jail. What a joke. By the way, Losses are only greater than expected by a factor of 10x. That’s not a loss. That’s an Enron type collapse. The loss just get 10 times [...]
The latest AIG bailout just ridiculous, This sends a message to all large Corporations to go ahead and make stupid decisions. We’ll bail you out!!! We’ll throw a TARP over it and nobody will see.
“The Treasury will invest $40 billion in preferred shares of New York-based AIG under the new Troubled Asset Relief Program [...]
By Hugh Son
Nov. 9 (Bloomberg) – “American International Group Inc., the insurer bailed out by the U.S., may get lower interest rates and more time to repay its debt in a new government rescue package valued at more than $150 billion.”
“The U.S. will revise the original $85 billion loan that saved the New [...]
“American International Group Inc. is expected to report third-quarter loss of 90 cents a share, according to analysts surveyed by Thomson Reuters.
Leading industry analysts have said that turmoil in equity and credit markets has been hampering AIG’s efforts to sell some of its businesses, a crucial part of the insurer’s plan to repay billions of [...]
GM needs 75 billion more this year. AIG wants who knows what next. The banks all want more 100’s of billion more. The other insurers want bailout money. The major home builders want bailout money. This is insane.
SAN FRANCISCO (MarketWatch) — American International Group Inc. reportedly is seeking a new bailout from the U.S. government [...]
By Shannon D. Harrington and Abigail Moses
Nov. 6 (Bloomberg) — The most comprehensive report on unregulated credit-default swaps didn’t disclose bets in the section of the more than $47 trillion market that helped destroy American International Group Inc., once the world’s biggest insurer.
A study by the Depository Trust and Clearing Corp. fails to [...]
By Maya Jackson Randall
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–The U.S. federal government is facing serious financing
needs in light of new programs regulators have implemented to fight financial
market turmoil, Treasury Acting Under Secretary for Domestic Finance Anthony Ryan
said Tuesday.
He noted that the government’s moves to buy soured mortgage-related debt, [...]
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