No bonuses should be paid at AIG until the taxpayers are whole. If the "talent" that caused their demise wants to leave, there is plenty of "talent" both out of work and coming out of grad school that can easily replace those fu cking monkeys
A promise tomorrow will be better? The persons that started the sub-prime and AIG failure! NOT! Tax payers money make AIG a success! 'Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that in combination with many other factors helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans
THE COMMODITY FUTURES MODERNIZATION ACT OF 2000("CFMA"), signed by President Clinton on December 21, 2000, therefore created a "safe harbor" by (1) preempting state and LOCAL GAMING AND BUCKET SHOP LAWS EXCEPT FOR GENERAL ANTIFRAUD PROVISIONS, AND (2) EXEMPTING CERTAIN DERIVATIVE TRANSACTION ON COMMODITIES AND SWAP AGREEMENTS, INCLUDING CREDIT DEFAULT SWAPS, FROM CFTC REGULATION.
Give your tax money away why? Maybe the politicians and their families receive the usual 20-30% kick back. That money is gone in one week. Invert the pyramid and put the weight of the little guys on top of the high priced do nothing executives! Do not pay outstanding credit cards! Bailout to follow! Do not pay on credit default swaps! They are not regulated and therefore should not be enforced! While the former USA is changing laws and policies as it grows, to nowhere? Revoke all trusts or reduce to max $3,000,000.00 per trust, Declare banks insolvent. Payout the max $250,000.00 FDIC! Gets the money circulating!? If Buffet, Gates and other billionaires were to die the inheritors’ tax kicks in at 3 million and the rest of the money goes to the people(new government) of the former USA.