AMERICAblog: Congressman Cummings on AIG: "These guys, they don't get it"
Mike_in_the_Tundra
· 1 year ago
Those guys will never get it. They feel they're entitled to special treatment.
vkobaya
· 1 year ago
I think they do get it. On January 20, only 2 months away, Obama takes over from Bush. Their whole way of doing business will have to change as of that date. Yeah, Obama's prosecutors will prosecute retroactively, but they will worry about it when that happens. Right now, they are going get while the getting is good and then damn Obama to try to catch them. Devil (Obama) take the hindmost. In fact, that is the reason they speak so often of Obama as the Devil, Satan, etc.
fostert
· 1 year ago
The problem with Cummings and with the liberal blogs is that this meeting isn't really that outrageous. What's outrageous is their normal business practices. This is a symbol, but not the real issue. If we concentrate on this, we will miss what's really going on. Rather than posturing, we need to come up with a real solution with AIG. Rather than giving them money and then complaining about it, we should audit what they're doing and decide whether they are even capable of managing money wisely. If not, nationalize them completely until their assets can be disbursed properly.
Older_Wiser
· 1 year ago
This type of partying goes on all the time, in every corporation, in every industry. I'll bet Las Vegas books more medical, legal and other "conventions" and "continuing education" gigs than any other city.
I worked for Barclays Bank in the 80s and could not believe the amount of money they spent on travel, hotels and entertainment for middle mgmt upwards for absolutely no reason that would benefit the company. Of course, when you have middle class people participating in corporate life, entitling them to perks like travel and entertainment keeps them corporately happy because they get to see places and do things they wouldn't be able to on their own dime (isn't that part of the appeal of climbing the ladder?).
Of course, the cost of all this is built into their products, even if you individually don't use them (like AIG). It's all like a Ponzi scheme when you think about it. And the higher up the corporate food chain, the more gets spent.
Bostonian_Queer_in_Dallas
· 1 year ago
I've posted this before...apologia...but it bears repeating...a buddy of mine from Yale went on to Yale Law and graduated top five. Right out of law school, he landed a job at Blue Cross. He stayed there his thirty plus year career. He climbed up to top of legal department. His main purpose at Blue Cross was to FIND LEGAL WAYS TO DENY YOU A CLAIM AGAINST YOUR POLICY LANGUAGE. A legal eagle penny pincher. When he retired they gave him a $22 bonus handshake. I ran into him a year or two later and asked him how the FUCK ONE HMO could pay ONE lawyer that kind of obscene money. His answer? "You are so naive about K-Street and how it runs America."
fostert
· 1 year ago
22 dollar bonus? Is there a million missing there?
Bostonian_Queer_in_Dallas
· 1 year ago
Yes sorry...22 million...whoops!
vkobaya
· 1 year ago
On the other hand, knew a chemist who made a major invention that transformed his company from a small auto parts manufacturer into one of the national corporations, from a few millions to billions of dollars. They shook his hand and gave him a gold plated name plate on his door ... oh, yeah, a fake Rolex gold watch with his name engraved on the back. Guess what? He packed up his records, books and walked out the door. Well, that company is back to being a minor parts manufacturer for GM as that invention was surpassed 10-15 years later by Japanese and German auto manufacturers. That company's name used to be very prominently mentioned whenever the auto industry was mentioned. Haven't heard the name in 15 years.
Bostonian_Queer_in_Dallas
· 1 year ago
I am furious that detroit will be bailed...go watch"who killed the electric car?" GM should die.
cole3244
· 1 year ago
this has always been the problem in america, entitlements at the top and not those at the bottom of the economic ladder. first the amount is greater at the top and second even assuming some abuse at the bottom the top don't really need it, so that abuse is greater and makes the abuse at the bottom pale in comparison, but since the entitlements at the top are taken by the privileged white class and the bottom are partially minority the racists in america can better label it to get even whites that are receiving an entitlement to argue against their own welfare, amazing.
othniel
· 1 year ago
I am a little bit upset that some AIG money tricked down and found its way to Prop 8 support. A good diversity program might prevent this from happening again, since GLBT people pay some of those tax dollars AIG has used.
The issue matters a lot in Texas, since GLBT folk had a special tax imposed on them in the language approved by our legislature when it sent the ant-marriage amendment to the voters. GLBT consumers of legal services here need to know when the one of the law firms they depend on to "make them equal" has a founding partner (retained by AIG) who donated to Yes on 8. Check out your dentist too, with link John provided the other day.
All Comments
I worked for Barclays Bank in the 80s and could not believe the amount of money they spent on travel, hotels and entertainment for middle mgmt upwards for absolutely no reason that would benefit the company. Of course, when you have middle class people participating in corporate life, entitling them to perks like travel and entertainment keeps them corporately happy because they get to see places and do things they wouldn't be able to on their own dime (isn't that part of the appeal of climbing the ladder?).
Of course, the cost of all this is built into their products, even if you individually don't use them (like AIG). It's all like a Ponzi scheme when you think about it. And the higher up the corporate food chain, the more gets spent.
car?"
GM should die.
first the amount is greater at the top and second even assuming some abuse at the bottom the top don't really need it, so that abuse is greater and makes the abuse at the bottom pale in comparison, but since the entitlements at the top are taken by the privileged white class and the bottom are partially minority the racists in america can better label it to get even whites that are receiving an entitlement to argue against their own welfare, amazing.
The issue matters a lot in Texas, since GLBT folk had a special tax imposed on them in the language approved by our legislature when it sent the ant-marriage amendment to the voters. GLBT consumers of legal services here need to know when the one of the law firms they depend on to "make them equal" has a founding partner (retained by AIG) who donated to Yes on 8. Check out your dentist too, with link John provided the other day.
http://www.dailykos.com/storyonly/2008/11/10/19...