US to 'wind down' AIG in 'orderly way': Geithner

Best quote I've seen from a US Senator in quite some time:


Republican Senator Charles Grassley said in a radio interview on Monday he would feel better if AIG's top managers were to ''take that deep bow and say 'I'm sorry' and then either do one of two things: resign or go commit suicide.``

How about this, ET start a global campaign to mail razor blades to AIG senior executives.

 

Chances are doing it then would have cost 180 billion dollars more than it's gonna cost now.

 

Surprising, now the news article has changed on the website. Somebody is trying to hide something as always.

 

The original News article is available on MSN website

http://www.arabia.msn.com/channels/msnnews/article.aspx?CatID=7&ID=742420&S=Hl

 

So how much much is it going to cost us to "wind them down"? I have a really cheap and organized way. Lock them out and shut down AIG for good!

 

Yes, USA is shutting down AIG but in a "orderly way".

In other words, USA will tear down AIG, bit by bit or pieces by pieces.

 

Even AIG didn't tank (from it's piddly quote) after this, so I'd be inclined to agree.

 

MSN website: US to 'wind down' AIG in 'orderly way': Geithner

US Treasury Secretary Timothy Geithner said that the government would work with AIG chief executive Edward Liddy to "wind down" the troubled insurer "in an orderly way."

In a letter to lawmakers Geithner addressed what he described as "considerable outrage" stemming from 160-million-dollar bonuses paid to AIG top executives, and said his department would "explore any and all responsible ways to accelerate this wind down process."

He said he would "work with" AIG chief executive Edward Liddy "on measures to wind down AIG in an orderly way and protect the American taxpayer."

AIG, which received billions in US bailout funds, is also to pay back the government for the hefty bonuses shelled out to top executives, Geithner said.

Geithner's statement comes as revelations about the staggering bonuses which were awarded to employees of the giant US insurer fueled a political firestorm.

The controversy engulfing bailed-out American International Group threatened to turn nasty amid reports of death threats against workers, and posed a critical test of President Barack Obama's economic revival plans.

http://www.arabia.msn.com/channels/msnnews/article.aspx?CatID=7&ID=742420&S=Hl

 

HAHA!!!

For some reason I feel better about giving it to Goldman than to SocGen, BNP Paribas, and DB...

 

Seems silly that our elected officials that are in bed with Wall Street at the expense - HUGE, I might add - of our/taxpayer money/children's/children's children debt. . .can rig the Ponzi scheme of running our global financial system complete with periodic (avoidable, in it's HUGE form) bubbles - -

to the tune of an AIG bailout:

$180,000,000,000

and then get their panties in a bunch siding with public outcry over "unwarranted" bonuses of less than:

$2,000,000,000.

Sounds hypocritical to me.

pay$ense