OMFG AIG detals...

realchef · #1 10-07-2008, 05:26 PM

you don't even want to read this.
http://www.nytimes.com/2008/10/08/bu...hp&oref=slogin

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MrLabGuy · #2 10-07-2008, 05:45 PM

The whole lot should be rounded up and put in orange jumpsuits behind bars.

Eric5273 · #3 10-07-2008, 06:24 PM

Quote:

Originally Posted by MrLabGuy

The whole lot should be rounded up and put in orange jumpsuits behind bars.

Just curious, but what crime would you charge them with?

As I have said in our other similar conversations, this is capitalism. This is how it works. It's a lousy system. If you want to create laws that place regulations on what management of a company can do, that sounds like socialism to me. Isn't having a "free market" better?

MrLabGuy · #4 10-07-2008, 06:35 PM

Quote:

Originally Posted by Eric5273

Just curious, but what crime would you charge them with?

As I have said in our other similar conversations, this is capitalism. This is how it works. It's a lousy system. If you want to create laws that place regulations on what management of a company can do, that sounds like socialism to me. Isn't having a "free market" better?

It's illegal to make public statements which differ from what is said behind closed doors. Many of these CEO's and their staff make public statements as to the stability of their company which turned out to be false.

Each of these investment banks and bailout companies should open their books which can then be compared to their public statements.

Breaking the law is not capitalism.

realchef · #5 10-07-2008, 06:40 PM

Quote:

Originally Posted by Eric5273

Just curious, but what crime would you charge them with?

As I have said in our other similar conversations, this is capitalism. This is how it works. It's a lousy system. If you want to create laws that place regulations on what management of a company can do, that sounds like socialism to me. Isn't having a "free market" better?

IMHO:
The facts are coming out and showing the Execs displayed little regard for sound business practices. They were quite aware of the impending doom. Responding to the immminent disasters by consuming for themselves whatever non fetid flesh they could.

The real crime is setting up this "hedge fund" ownership of unkown potential toxicity with our money; only hoping we can bring this baby down in 5 years without a ball of fire.

The crimes go back to the Clinton deregulation in 1999. Both administrations have encouraged massive political favoritism and profiteering.

But that's just the simple opinion of a neophyte.

blondboinsd · #6 10-07-2008, 07:18 PM

I agree with the above, i'm not sure it's illegal, but it should be. These people clearly lack any morals what so ever beyond making a quick buck. That is what capitalism in it's purist form will get you. Truly makes you sick to your stomach. On a side not the Monach is a FABULOUS resort.

realchef · #7 10-07-2008, 08:02 PM

Quote:

Originally Posted by blondboinsd

On a side not the Monach is a FABULOUS resort.

Yeah....23K for SPA services, that's a proverbial happy ending

Eric5273 · #8 10-07-2008, 10:05 PM

Quote:

Originally Posted by MrLabGuy

It's illegal to make public statements which differ from what is said behind closed doors.

They should make a law like that for government officials.

AVB-AMG · #9 10-07-2008, 10:58 PM

What a colossal demonstration of bad judgment and timing! I guess it is to be expected from the executives who demonstrated similar bad judgment to get AIG in this mess to begin with. Those responsible for deciding to go on this junket, after Congress voted in favor to grant the $700 Billion bailout/rescue plan, should be publicly named and then fired! How can anyone within AIG think that the decision to hold this meeting at that location at the time that they met, conceivably think that this was a good idea?

AVB-AMG

Eric5273 · #10 10-07-2008, 11:25 PM

Quote:

Originally Posted by AVB-AMG

What a colossal demonstration of bad judgment and timing! I guess it is to be expected from the executives who demonstrated similar bad judgment to get AIG in this mess to begin with.

You make it sound like they made a mistake. Oops! Didn't mean to do that. It was an accident. "Bad judgement"

I wish people would stop with the "bad judgement". The people running these large corporations, or running our government for that matter, are the best and brightest the world has to offer. They don't exercise "bad judgement" very often at all. What they do is entirely intentional and they fully know what the results will be. In this case it is called stealing, and I agree with MrLabGuy that they should all go to jail. I was just questioning if there were actually any laws on the books that prohibit what they did.

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