Tuesday, March 24, 2009
Snippet from Huffpo:::
"AIG has a culture of complicity. "You don't get into these kinds of problems by having a good corporate culture," said Peter Morici, a professor at the University of Maryland School of Business and the former chief economist at the US International Trade Commission. "Clearly this company has had endemic problems and it'd be best if we broke it up and sold it off so others can run its parts."AIG is currently facing investigations by the New York Attorney General's office, the Federal Bureau of Investigation, the Securities and Exchange Commission, and the British Serious Fraud Office.And that is only in the last six months."
See this is what my neighbors and I have been discussing...it is not just about the Bonuses....it is a culture of "We Do What We Want - When We Want ....Rules or Ethics Be Damned"....THAT is a mindset that creates a Culture of Distrust....and Bad Practices. Whether it be 165 Million or 211 Million, that is alot of money...Money that belongs to tax payers and could even fund programs for Food and Housing....