Forum Post: AIG, I quit
Posted 12 years ago on Dec. 12, 2011, 9:32 p.m. EST by sunnyb21
(19)
This content is user submitted and not an official statement
http://www.nytimes.com/2009/03/25/opinion/25desantis.html?pagewanted=all
Great letter of resignation from an employee of AIG.
For all those who work hard and were used as a scapegoat by those crooks who robbed us all. We must hold them accountable.
AIG? Where was Heinz?
We are all children once and are already born as debt slaves. None of us are immune yet...YET.....
F this guy, he only made $750,000 of which that payment was 1/4 of his annual pay. He ONLY stayed on for the $$$ and deserved nothing. 100% of his unit should have been forced to work until the work was done, whether it was 1 year or 100 years all the while being forced to carry 60lb gold chains around their necks and two briefcases each with 5 million in cash inside every where they go.
Here's the thing, nothing has changed since 2008. Next time you go to your bank you should know that someone in some investment wing somewhere is probably selling the same type of crap they were selling at AIG. It might be on the books but it might not. It might blow up into a disaster, might not. What can we do to get that systemic risk out of our banks and away from our central bank? It's time to look under the hood and prevent the next disaster.
Easy solution is to eliminate the guarantee of deposits and this all goes away.
Eliminate the FDIC ? You know a week ago I would have disagreed with you but I think you might just be on to something. What about letting small banks and credit unions who operate in a responsible way keep their FDIC insurance system. Make the bar high for eligibility, leverage limits, no derivatives in FDIC banks due to the 2005 law that puts derivative bet payouts ahead of bank deposits in a bankruptcy. Let Citi and Goldman and B of A figure out how to get depositor confidence back. Do you know that Goldman is working on an equity based CD that is FDIC insured? Scary.
Why not just eliminate it all together. If there is a run on the banks, they can limit payments like was done in the panic of 1907. This would force consumers to make sure that their bank is solvent, pulling money from the weak banks.
I think banks should have the right to get together and provide insurance that covers deposits to give depositors confidence but I don't think taxpayers should be on the hook for wall street's bad bets. The NYSE has standards for listing as does the nasdaq, banks could have standards so that they know all the other banks putting into that system are as responsible as they are. You don't want the banking system to become like the pink sheets, scam after scam and you know how easy it is to scam the average American.
I, will hold them accountable, along with their children, their holdings and whatever else may be liquidated, to benefit the whole.
leave the kids out of it
PLEASE
Ditto, there Anonymouse. The reason this bullshit cycles for centuries is because of this retribution insanity. Yes, the criminals should PAY. No, their kids are not responsible.
The sins of the fathers pass to the sons. When different let me know.