Tuesday, March 24, 2009

AIG Six Year History of Fraud....Click the Title to read more

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....


Annette said...

It's not just AIG.. it is all of Wall Street.. all of the big firms up there feel like they are worth it.. That's why Pres. Obama used to rail against them when he was running for President... I turned over to CNBC for just a minute this afternoon and was watching Mark Haines and Erin Burnett and a couple of others talking.. and Mark was just going off.. He was railing about the bonuses.. and he summed it up by saying... If they gave me the bonus I would NEVER give it back.. and they should have given them every dime and then some. And that sums it up.. They really think they deserve it and it is owed to them. Why I don't know.. but they do.

enigma4ever said...

I know...it is not just AIG...that is just a piece of it..