Tag Archives: AIG

Three cheers for Dodd as we boo him off the stage

Yes, there’s plenty of debate as to whether or not he screwed up big-time by putting forth the stipulations in the stimulus bill that allowed pre-existing contractual bonuses to be paid in full. But regardless, credit must be given to Sen. Dodd for bringing a responsible, reasoned slant to the AIG mess we’re dealing with right now. His interview with CNN is very revealing about the process that led to the loopholes, but if Dodd’s right there is a loophole within the loophole that will allow Washington to strike back against AIG. Just yesterday Dodd denied having any role on the banking committee that he chaired, and for that we have to throw some eggs at him. His honesty today is born from dishonesty yesterday, but at least we got that honesty at all.

It’s a complex issue, so take a look at the interview; Dodd does a better job explaining everything than I could.

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Filed under Business, Government, Obama

The rats stay on the ship

While the ship's sinking, the Captain's canoodling with your wife with a glass of rare cognac.

While the ship's sinking, the Captain's canoodling with your wife with a glass of rare cognac.

Isn’t it a bit much for an all-powerful dictator to summon Italian chefs to sit offshore after having their brains and urine examined for the purpose of training domestic chefs in the fine art of … wait for it … pizza. North Korea, once again, has topped itself. Twisting and turning around its own logic like a mindless corkscrew, the lengths at which he goes to make a pizza (as the secret recipe of dough, tomato sauce and toppings has eluded their spies for years, I suppose) goes to show that anything is possible.

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Filed under Business, Government, Morgan

Amazingly Incompetent Generosity

This guy also recieved a $50,000 bonus for "Best Smile."

This guy also recieved a $50,000 bonus for "Best Smile."

List of bonuses given to AIG executives Sunday:

  • $40 million for remaining employed despite incompetence.
  • $10 million for dressing themselves for a week straight.
  • $20 million to be put toward tinted windows when the public finds out about the bonuses.
  • $30 million as a reward for being rewarded.
  • $60 million because they can.

Three cheers for bailouts in action!

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Filed under Business, Morgan