Help cause the economy to collapse and then you think you are entitled to a bunch more money from the U.S. taxpayer: A company run by former American International Group Inc Chief Executive Maurice “Hank” Greenberg sued the U.S. government for $25 billion, calling the 2008 federal takeover of the insurer unconstitutional. The lawsuit marks […]
The news yesterday that Timothy Geithner may have helped cover up AIG’s financial problems is sparking a House investigation: A House committee is planning to grill Treasury Secretary Timothy Geithner about his role in the massive bailout of failed insurer American International Group Inc. The House Oversight Committee is responding to news that key details […]
The right is making a big deal over a bill the Democrats voted down to “recoup” the bonuses from AIG. Here is the text of the bill: Section 1: The Secretary of the Treasury shall, notwithstanding any other provision of law, implement a plan within the next two weeks to recoup or stay the payment […]
It looks like all the talk Obama did about AIG yesterday was nothing but a smoke-screen: President Barack Obama said Monday that he would “pursue every single legal avenue to block” $165 million in bonuses to American International Group Inc. employees who were in part responsible for the insurance giant’s near collapse. But hours later, […]
It looks like action is starting to happen in regards to AIG. Of course Cuomo is leading the way: New York state’s attorney general joined the growing list of those angered by news of American International Group’s bonuses, and wants to have details on his desk this afternoon about who is getting it rewarded. Attorney […]
So even though we have given AIG $165 billion of our own money, they can still make massive payouts in the form of bonuses: American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars. AIG is paying […]
All the talk this week about Timothy Geitner’s tax problems seems like even smaller potatoes compared to this: Eighty-three of the nation’s 100 largest corporations, including Citigroup, Bank of America and News Corp., had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday. […]
NY Attorney General Andrew Cuomo has been at the front of the battle when it comes to CEOs receiving their golden parachutes, while their companies lay off and ask for government handouts, and he isn’t backing down at all: Calling the layoffs of 53,000 people “disturbing,” Cuomo says top executives shouldn’t get bonuses while investors, […]