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DEAR Mr. Liddy,
It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products. Before describing the details of my decision, I want to offer some context:
I am proud of everything I have done for the commodity and equity divisions of A.I.G.-F.P.
I was in no way involved in — or responsible for — the credit default swap transactions that have hamstrung A.I.G.
Nor were more than a handful of the 400 current employees of A.I.G.-F.P. Most of those responsible have left the company and have conspicuously escaped the public outrage. [...]
Originally posted by David9176
Ok.
Why aren't you guys looking at the federal reserve...who lowered interest rates to make this all possible?
Why do you ignore the billions that went out of the country through AIG..with government full well knowing about it.
Or how about the trillions that is missing from the federal reserve?
Why isn't the media covering it?
Do you think it's all AIG?
Do you think anyone with a million dollars is evil?
Do you think every single employee there perpetrated this?
DO YOU EVEN CARE WHAT IS REALLY HAPPENING TO OUR COUNTRY?
I'm not a freaking millionaire..no where close..in fact i make just enough to make ends meet.
IF you want to be angry...look at your Federal Government and the Federal Reserve...which is the BIGGEST PRIVATE BANK in our country.
Both are responsible for this entire mess.
Originally posted by David9176
Ok.
Why aren't you guys looking at the federal reserve...who lowered interest rates to make this all possible?
Why do you ignore the billions that went out of the country through AIG..with government full well knowing about it.
Or how about the trillions that is missing from the federal reserve?
Why isn't the media covering it?
Do you think it's all AIG?
Do you think anyone with a million dollars is evil?
Do you think every single employee there perpetrated this?
DO YOU EVEN CARE WHAT IS REALLY HAPPENING TO OUR COUNTRY?
I'm not a freaking millionaire..no where close..in fact i make just enough to make ends meet.
IF you want to be angry...look at your Federal Government and the Federal Reserve...which is the BIGGEST PRIVATE BANK in our country.
Both are responsible for this entire mess.
The government shouldnt step into a free market and just like now that AIG failed the government shouldnt be bailing them out now either and especially bailing out bonuses for a failed company
So once again this is about a mentality of greed and Im for non intervention in both the good times and the bad times but the fact is we did it and people shouldnt be getting rich on the taxpayer dime like this.
Originally posted by David9176
The entire world is based on greed. As long as there is a currency..there will always be greed. The poor are greedy...the middle class is greedy..and the rich are greedy.
I don't see people up in arms when they get federal grants...and worrying about others paying for it.
It was a contract...our government knew about it and then showed fake anger over the whole thing because they signed a bill they did not read.
It's the government's fault. We can sit here all day and blame every single person..including those in Fannie May & Freddie Mac...with whom NO ONE is talking about...how about people staying in there homes they couldn't afford...or how about the people who personally made the loans?
These are all problems that wouldn't have happened if not for the Federal Reserve by lowering interest rates and the intervention by our Federal Government.
If you want to kill the snake you have to take it's head...
This is a company that built a giant fortune across more than a century by betting on safety-conscious policyholders — people who wear seat belts and build houses on high ground — and then blew it all in a year or two by turning their entire balance sheet over to a guy who acted like making huge bets with other people's money would make his ...
That guy — the Patient Zero of the global economic meltdown — was one Joseph Cassano, the head of a tiny, 400-person unit within the company called AIG Financial Products, or AIGFP.
The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit,
Originally posted by aLiiEn
Yes for the last year, they got $1.
That's because for the last 11 years, they earned millions in bonuses, knowing full well what Joe Cassano was doing.
And knowing full well what the end result would be, and who it would detrimentally affect.
But no, they didn't think to try and expose it.
They didn't think to leave the company then, while the cash was flowing.
They just lapped up the millions they were paid while it lasted.
Oh what a poor man spending 14 hours a day away from his family, for only $1.
They are happy at home in there million dollar mansion.
While millions of family's live on the streets.