When you are a pro at a scam--the definition of "scam" also can be found under the term "insurance industry" -- you know how to try to pull a fast one. And AIG is trying to pull one -- under cover of the holidays. Check this out. Full Story »
Posted by Jim Wilkerson
With statements such as: “your tax dollars are going to reward people who are lucky to even have jobs,” this can’t be considered objective journalism. But it is the kind of excellent reporting which does one of the things journalism is supposed to do: dig deeply to uncover, then reveal, appalling practices like this.
AIG’s apathetic, cynical arrogance abundantly proves that absolutely no one at this huge multinational corporation—or anywhere on Wall Street—has yet gotten it. “It” being that the world-wide mess they had a huge role creating has done away with the “good-times Charlie, business as usual” they so relished for eight years. When Wall Street’s comeuppance finally happens—and it will happen—it’s going to be brutal.
Interesting to learn about this filing, but the article has a bias, and perhaps because of that bias, it doesn't connect the dots (perhaps sin by omission). It didn't indicate if any of the 7 execs forgoing bonuses are in that group of 130 managers (they may or may not - I couldn't tell from the article itself).
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