OMG AIG

Bear or Bullsh*t...
Bear or bullsh*t market…

Looks like a big corporation is behaving like a spoiled child.  AIG (American International Group), the huge insurance company that received a bailout from the United States government five years ago, is in the news again not for securing peace, helping the homeless, or picking up trash.  No, they are thinking of suing the American people.  What???

Let me get this straight: AIG tanks the economy with shady practices, gets taxpayers money to bail them out, survives the freefall to exist another day, then decides that life isn’t fair and wants to sue the people that bailed their asses out of disaster and suffered the consequences of their incompetence.  Yes, my blood is boiling.  This is another example of inexcusable corporate greed.

According to AIG’s website: “AIG is coming back, and it is giving back – through programs that support employees’ philanthropic interests… community initiatives at the corporate and business levels… and a giving strategy focused on vital areas. ‘We measure our business performance with numbers. We measure our effectiveness as a company of committed men and women by your generosity of spirit, which is impossible to capture in mere numbers,’ wrote AIG President and CEO Bob Benmosche.”

Recently, AIG rolled out a disgusting and phony marketing campaign including slick television advertisements featuring the slogan of “happy” workers saying “thank you America…”   Well, AIG should THANK Americans for the $182 billion dollars we lent them after the greedy mortgage bets THEY created tanked the economy.

Instead AIG is mad because the terms of the bailout made their shareholders unhappy and that the interest charges were too high.  Sounds like someone is having a tantrum?  This makes me sick.  Without our taxpayer money, the company would have gone bankrupt giving the greedy bastards little or no return.

The latest according to Kevin McCoy of USA Today on 1/9/13: “Faced with the prospect of an angry backlash from the U.S. public, American International Group announced Wednesday it won’t join shareholder lawsuits over the federal government’s handling of the insurance giant’s $182 billion bailout at the height of the national recession.”  AIG wanted $25 billion dollars in damages from the United States government.  What a public relations disaster!

However, Wall Street is rigged.  On Friday 1/11/13, AIG (All is Greed) stock rose to $35.25 a share.  Oh my gosh, no matter how they behave- AIG would survive a nuclear bomb just like cockroaches and holiday fruitcakes.  Hopefully one day, their top executives will be in prison and held accountable.  That would be the best “thank you” to America…

The links:

http://www.aig.com

http://www.nbcnews.com/business/economywatch/aig-opts-out-bailout-lawsuit-amid-public-vitriol-1B7905602

http://finance.yahoo.com/news/aig-board-weighs-suing-us-080415512.html

http://money.cnn.com/2013/01/09/news/companies/aig-lawsuit/index.html

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