Fmr AIG CEO Sues for More Taxpayer Money!
Former AIG CEO Maurice Greenberg is suing because he doesn't think the almost $70 billion in taxpayer money spent bailing out AIG was enough. The Young Turks host Cenk Uygur explains. Source: thinkprogress.org Subscribe to The Young Turks: bit.ly The Largest Online New Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com
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Obama Hits the AIG Spot: SuperNews!
Obama, Biden, Hillary and top cabinet members resort to drastic measures to deal with the AIG problem. Watch more SuperNews! www.current.com www.facebook.com VIEW more Obama videos & SUBSCRIBE to the YouTube playlist here... www.youtube.com
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AIG Sues Bank of America
Transcript: (Image Source: CEOWORLD Magazine) BY: JUSTIN WHALEY You're watching multisource business news analysis from Newsy. It's a battle of corporate giants -- with a staggering amount of money on the table. After a two-day stock decline -- its worst since 2009 -- insurance company AIG plans to sue Bank of America over a slew of mortgage securities gone-awry-- and an estimated $10 billion dollars down the drain. Here's the Financial News Network: "According to AIG, Bank of America and its Merrill Lynch and Countrywide financial units misrepresented the quality of the mortgages placed in securities and sold to investors, according to three people, with knowledge of the complaint." According to New York Magazine, the numbers from filed lawsuits are staggering -- "AIG claims that about four out of ten mortgage securities were made to look better than they were by Bank of America, leading to $28 billion in losses during the financial crisis. In lieu of Justice Department prosecutions, investors have filed some 90 lawsuits with demands totaling at least $197 billion." Bank of America isn't AIG's only target. In hopes of recovering lost finances from the recent economic downturn, AIG is preparing similar lawsuits against at least three other financial institutions. The New York Times reports: "The private actions stand in stark contrast to the few credit crisis cases brought by the Justice Department, which is wrapping up many of its inquiries into big banks without filing <b>...</b>
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AIG: Where is the Taxpayers Money Going? (Part 2)
AIG: Where is the Taxpayers Money Going? (Part 2) - House Oversight Committee - 2009-05-13 - On Wednesday, May 13, 2009, The House Committee on Oversight and Government Reform held a hearing entitled "AIG: Where is the Taxpayers Money Going?" The hearing featured testimony from AIG CEO Edward Liddy. Video provided by the US House of Representatives.
AIG - Life & Music
Album: Fame Labs Presents: AIG / Darkim Be Allah And Allahwise Year: 2005 Track: 12 Track Produced By: Shakim Samples:
Elizabeth Warren Makes Timmy Geithner Squirm Over AIG and Goldman Sachs Bailouts
We know where Elizabeth Warren was going with the line of questioning and it was about the 13 billion dollars Goldman Sachs got out the back door of AIG. The question to Timmy was; "Do you know where the money went?" The question was not sufficiently answerd. Goldman Sachs and others were not mentioned specifically but Elizabeth framed the question so perfectly as to leave no doubt as to who benefited 100 cents on the dollar from the tax payer on AIG's counter party risk.
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Show Of Hands - Arrogance Ignorance and Greed (AIG)
Live on The Andrew Marr Show Sunday 6th February 2011
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AIG Hearing with Geithner & Bernanke
Rep. Bachmann questions Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke regarding AIG and federal bailout programs.
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Wife of AIG Exec To Taxpayers: "It's Our Bonus Now, Suckers!"
Gina, wife of Ted explains why they "CAN'T" give the money back. From voiceover actress/writer/producer Rosemary Watson. See www.rosemarywatson.com ---"Fast emerging as America's leading Hillary impersonator" The Telegraph (UK) "Better Than SNL?" The NY Times ------------------------------------------------------------------------------ Please subscribe to my channel or get on the 'list' by writing to me at rosemary@rosemarywatson.com
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AIG boss grilled by US congress - 19 Mar 09
The boss of the American Insurance Group (AIG) - a company that has paid millions in bonuses to staff despite taking a vast government bailouts - has told a US congressional hearing he asked some employees to give some of the money back. But Edward Liddy said the "cold realities of competition" compelled the company to make the payments. Rosiland Jordon has this report.
SHOW OF HANDS - Arrogance Ignorance And Greed 2010
Show of Hands - Arrogance Ignorance And Greed. The brand new version of the video for 2010! To buy the audio track go to itunes.apple.com
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AIG Executive Talks
Jackie and Dunlap express America's outrage over the AIG bonuses in their interview with one of the most hated men in America... Shimmysham the AIG Dummy. Let your Jackie Flag fly! Join the RSU community at redstateupdate.com
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It's not AIG. It's the GOV...
What's next? I'll tell you what's next... AIG! AIG! Everybody's going nuts. I can't believe they're getting bonuses! I can't believe they're getting bonuses! Would you people wake up! AIG is a freaking smoke screen to take your attention away from the real criminals in this country... The freaking government! The government is to blame for this problem. The government sits up on capitol hill vilifying wall street like they;re the problem. the government has been in bed with wall street from day one in this freaking economic disaster. You know what one sure fire way from keeping AIG executives from getting bonuses was? NOT giving them a bailout to begin with. The American people knew this. the average citizen knew this. We said no bailouts for anyone, on day freaking one. Did the government listen? No! Bush,Bernanke, Paulson, Obama they're all to blame. They were handing out money like it was going out of style and not paying attention to where it was going. This is like giving a kid a hundred dollars to buy school clothes and then being mad when he comes home with video games and jelly beans. Are you kidding me?! Then Senator Chris Dodd, Democrat from Connecticut comes out the other day and says, before the last stimulus bill was signed, he put in an amendment, Basically making it possible for the AIG executives to gets their bonuses. he basically wrote on top of the last stimulus bill, that no matter what happens the executives at AIG have to get their bonuses. You know <b>...</b>
Geithner's crimes through AIG : will the truth come out?
Max Keiser and Stacy Herbert and Webster Tarpley talk about AIG being used by Tim Geither to line in the pockets of Goldman Sachs and others recorded on October 31th 2009 . www.bloomberg.com New York Feds Secret Choice to Pay for Swaps Hits Taxpayers By Richard Teitelbaum and Hugh Son Oct. 27 (Bloomberg) -- In the months leading up to the September 2008 collapse of giant insurer American International Group Inc., Elias Habayeb and his colleagues worked nights and weekends negotiating with banks that had bought $62 billion of credit-default swaps from AIG, according to a person who has worked with Habayeb. Habayeb, 37, was chief financial officer for the AIG division that oversaw AIG Financial Products, the unit that had sold the swaps to the banks. One of his goals was to persuade the banks to accept discounts of as much as 40 cents on the dollar, according to people familiar with the matter. Among AIGs bank counterparties were New York-based Goldman Sachs Group Inc. and Merrill Lynch & Co., Paris-based Societe Generale SA and Frankfurt-based Deutsche Bank AG. By Sept. 16, 2008, AIG, once the worlds largest insurer, was running out of cash, and the US government stepped in with a rescue plan. The Federal Reserve Bank of New York, the regional Fed office with special responsibility for Wall Street, opened an $85 billion credit line for New York-based AIG. That bought it 77.9 percent of AIG and effective control of the insurer. The governments commitment to AIG through <b>...</b>
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Economy Bailout Song: AIG, Freddie Mac, Lehman Bros
LYRICS, mp3 Below!!!! mp3 (under "Bsides"): rhettandlink.com Thanks to MicroBilt!! www.microbilt.com LYRICS I used to think that Freddie Mac was a pimp, but now my mutual fund is the one walking with a limp And Fannie Mae, you almost failed me, boo --But the faithful feds, they bailed you. Poor Lehman Brothers....yall got the shaft (shaft!) The government said, good luck with that (shaft!) And AIG, old Uncle Sam he loaned you 85 Billion, but now he owns you. Some cry out, Weve become a socialist state! While others say, We need to regulate. Should I vote McCain or pull the lever for O-bama? Im thinkin either way, Ill be movin back in with momma. (but the cookins good---and I think shell drive me to work) You see, I dont have much job security Im an internet comedian...Im not sure thats even technically a job. I dont think it is. I cant put my finger on it; but you know things have gone wrong when I cant even afford to finish this...
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Alan Grayson Questions AIG Math: Let's Change the Length of Inches So I'm Shorter!
Congressman Alan Grayson discusses a change in accounting rules demanded by the banks that caused this mess. Robert Herz of FASB actually talks about how insolvent banks, two weeks before they go bankrupt, call up and request accounting changes. The witnesses for this hearing were: Mr. James Kroeker, Acting Chief Accountant, US Securities and Exchange Commission Mr. Robert Herz, Chairman, Financial Accounting Standards Board Mr. Kevin Bailey, Deputy Comptroller for Regulatory Policy, Office of the Comptroller of the Currency
Glenn Beck on the AIG Government Scam
The financial collapse and the theft of America's wealth was engineered by the Federal Reserve. Chief architect and tax-cheat Timothy Geithner is the proverbial fox in the hen house. Learn the truth about the Federal Reserve System educationalrevolution.wordpress.com Join the Campaign For Liberty www.campaignforliberty.com
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Runrig - An Sabhal Aig Neill + Drums (Hebridean Celtic Festival 2010)
Runrig playing An Sabhal Aig Neill (Neil's Barn) followed by the Drums @ Hebridean Celtic Festival, Stornoway, Isle of Lewis (17/07/2010)
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Breaking News: NY Fed told AIG to Withhold Swap Info from Public
WASHINGTON - The Federal Reserve Bank of New York (then led by Geithner) pressed American International Group Inc. to withhold from the public the details of controversial deals that funneled billions in bailout money to Goldman Sachs and other banks. E-mails show lawyers representing the New York Fed asked AIG to remove the information from a draft financial disclosure. Treasury Secretary Timothy Geithner was president of the New York Fed at the time. The deals were part of a massive rescue effort at the peak of the financial crisis. Lawmakers and others have accused Geithner's Fed of overpaying banks, including Goldman and Deutsche Bank, to cancel deals with AIG. The New York Fed says forcing the banks to take losses or disclosing more information could have worsened the crisis. Copyright MSNBC 2010 www.msnbc.msn.com Also see Bloomberg which actually broke the story this morning: bloomberg.com Fed Federal Reserve NY Tim Geithner AIG withhold swap info GAO audit credit default swaps Golman Sachs bailout CNBC Bloomberg
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10/7 AIG Executives Scandal $500K Spa Resort Vacation Party
TimothySykesExposed.com Are You Tired Of Corporate Scandal? Where Is Your October 7, 2008 Insurance Hearings Lynn Turner (ex SEC chief accountant) Eric Dinallo - NY Regulator Cummings (D-MD) 10/7 AIG Executives Scandal $500K Spa Resort Vacation Party after Bailout! WASHINGTON (AP) — Days after it got a federal bailout, American International Group Inc. spent $440000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to lawmakers investigating the company's meltdown. AIG sent its executives to the coastal St. Regis resort south of Los Angeles even as the company tapped into an $85 billion loan from the government it needed to stave off bankruptcy. The resort tab included $23380 worth of spa treatments for AIG employees, according to invoices the resort turned over to the House Oversight and Government Reform Committee. The retreat didn't include anyone from the financial products division that nearly drove AIG under, but lawmakers still were enraged over thousands of dollars spent on outing for executives of AIG's main US life insurance subsidiary. "Average Americans are suffering economically. They're losing their jobs, their homes and their health insurance," the committee's chairman, Rep. Henry Waxman, D-Calif., scolded the company during a lengthy opening statement at a hearing Tuesday. "Yet less than one week after the taxpayers rescued AIG, company executives could be found wining and dining at one of <b>...</b>
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Ian Masters / Inside Job: Goldman Sachs, Morgan Stanley, AIG loot the US Treasury
www.ianmasters.com For the KPFK fund-drive, Ian Masters of Background Briefing promotes Inside Job, the documentary investigating the looting of the United States Treasury by Wall Street. This documentary is an education in corruption.
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Show of Hands - Arrogance Ignorance And Greed (AIG)
Show of Hands - Arrogance Ignorance And Greed. To buy this track go to itunes.apple.com All I wanted was a home and a roof over our heads Somewhere we could call our own feel safer in our beds There was a storm of money raining down it only touched the ground With a loan I took I cant repay and the crock of gold you found At every trough you stopped to feed With your Arrogance Ignorance And Greed.
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AIG POSTCARD FROM EXECUTIVES
PLEASE DIGG, STUMBLE & BUZZ if you like the video. digg.com buzz.yahoo.com www.stumbleupon.com This is some of my personal feelings about all this nonsense with how the Politicians Give a company money and they always just happen to put a loophole for the executives to get bonuses and then they act all outraged off when they take the money that the politicians give to them in the first place. This charade has to be called out and the American taxpayers and citizens need to wake up and realize that they are being duped by both the Government and all these corporations like AIG, Bear Sterns, Bank of America and the Auto Makers. This is not going to end. There are trillions of dollars more coming in the next few years and by the time the current administration realizes (like they dont already) that this doesnt work. Or more correctly put PROVEN that their plan did not work, it will be to late and everyone will lose almost everything. Open Secrets dot org URL: www.youtube.com This is not a real post card or letter. This is just my feelings on this subject. I have a feeling that this is about as close to the truth as you are going to get on this subject. In both how it started and how it will eventually pan out. The bottom line is the corporations are getting billions while the taxpayer is getting the bill. That is a FACT!
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More AIG Bonus Outrage
Both Democratic and Republican politicians have strongly criticized another round of pay bonuses for the financial products division at AIG, which received funds from last year's bailout. Chip Reid reports.
American International Group. AIG Fights For Survival. (part 2)
Sep. 15, 2008. Nation's largest insurer hit by credit raters as it tries to raise cash. Fed asks Goldman and JPMorgan Chase to raise $70 billion for firm. Shares end down 61%. ------------- The pressure on American International Group reached fevered pitch on Monday night as the troubled insurer was hit by a series of credit rating downgrades. The cuts could prove deadly to AIG, the nation's largest insurance company, which is scrambling to raise much-needed capital. Late Monday night, Moody's Investors Service and Standard & Poor's Ratings Services each said they had lowered their ratings. A few hours earlier, Fitch Rating had also downgraded AIG, saying the company's ability to raise cash is "extremely limited" because of its plummeting stock price, widening yields on its debt, and difficult capital market conditions. The downgrades will make it more expensive for AIG to issue debt and harder for it to regain the confidence of investors. Fitch said AIG could be required to post $10.5 billion of additional collateral if it was downgraded one notch by one of the other major rating agencies and $13.3 billion of collateral if downgraded by both, Fitch said in a statement, citing AIG's July 31 estimates. The grim assessments came after a day in which state and federal officials raced to help the insurer gain access to much needed cash. The company has lost more than $18 billion in the past nine months. The credit downgrades could doom its business. Source: money.cnn.com
American International Group. AIG Fights For Survival. (part 2) CRISIS NOT OVER. sep. 15 2008. Collapse of Western Economy. Reaction. Brother Fannie Mae Freddie Mac the fed stock market crash Asia Japan China jakoxn
Jim Rogers: Let AIG Go Bankrupt or USA Finished
www.patriotinternet.com American International Group should be allowed to go bankrupt because keeping it and other sick financials alive on government support risks ruining the US economy, legendary investor Jim Rogers told CNBC Tuesday. RELATED LINKS Current DateTime 08:11:20 03 Mar 2009 LinksList Documentid: 29476352 * A Remake of AIG Is the Goal of Rescue * AIG Is Dead: Hendry * Hendry: Debt Is too High * Special Report: Predictions '09 AIG [AIG 0.443 0.023 (+5.48%) ], whose $61.66 billion fourth-quarter loss was the largest ever for a US company, received $30 billion more in government funds Monday. The insurer's financial health hasn't improved despite getting as much as $150 billion from the government last year. "Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt," Rogers said. "AIG has trillions of dollars of obligations, let them fail, let the courts sort it out and start over. Otherwise we'll never start over." On Monday, CEO Edward Liddy told CNBC that the insurer is far more stable and secure than it was last fall but acknowledged that it was "difficult to say" if AIG will need even more money from the government in the future. Bailing out the banks is going to increase the debt spiral and finally cause the destruction of the world's biggest economy, Rogers said. "I think it's astonishing, they're ruining the US economy, they're ruining the US government, they're ruining <b>...</b>
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