AIG, EMBLEM OF WALL STREET GONE GREED MAD

Written by Jim McGrath Thursday, 06 August 2009 23:37

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AIG REWARDS INVENTORS OF FINANCIAL WMD's MILLIONS IN BONUSES, See:

AIG, the great insurance giant, that was to insure, wasn't it trillions, of credit default swaps and other overly risky and gimmicky (read fraudulent) investments, now requests permission to grant $325 million in bonuses to employees (the division that invented these financial WMDs -- phrase coined by Warren Buffet years ago--) at about the same time Citi analysts estimate AIG net worth at about zero, according to a recent report.  For full shock effect, compare the headlines illustrating these "co-existing contradictions" (bankers would use the term "financial norms") and click for the accompanying news briefs from John Carney of the Business Insider:

"CITI Says AIG May Be Worth Nothing" (July 30, 2009 headline)

AND...

"AIG Wants to Pay Financial Products Group $235 Million in Bonuses" (July 10 headline)

Click for articles:

http://www.businessinsider.com/citi-says-aig-may-be-worth-nothing-2009-7

http://www.businessinsider.com/aig-wants-to-pay-financial-products-group-235-million-in-bonuses-2009-7

Also, see:

AIG Is Even Worse Off Than You Think  (July 31, 2009)

http://www.businessinsider.com/aig-is-even-worse-off-than-you-think-2009-7