You should have search "shrugged"....

D(I'mNotTheDupePolice,ButIDidReadTheBoardABitYesterday)Peacher

Who are you?

Funny things happen when the .gov punishes success and rewards failure.   Soon AIG will run with the efficiency of the DMV.

I do believe that Gentleman just Galted.

Fucking ridiculous wealth envy.

It would be funny if it wasn't so sad.  Our "leadership" sucks.  They have no fucking idea what they are doing.

It gets better
http://hotair.com/archives/2009/03/26/more-departures-at-aig-after-bonus-outrage/



and

But but Obama says they're evil!

The word "kanshi" come to mind for me.

Maybe Congress will pass a law that requires AIG employees to stay in their current positions or wind up in FPMITA prison.  

I hope all the talent makes a mass exodus to get away from the Reign of Hussein.

Oh, for fucks sake.

Wonder what Dumbo is saying now? What's he going to do when AIG fails
completely now? I'm looking forward to the artistic license it will
take to blame this on Bush.



 

Well writting article. They needed him there, but because of their stupidity, he was forced to say, "Fuck it, I'm foing!"

Yep that should work.

So are some of the kenyans' cronies going to get the top jobs there now?

It worked just fine at Twentieth Century Motors.  I mean, what could go wrong?

Wow, so this guy is upset he lost his $1 a year job? Thats bullshit communism. Ill offer him a $2 a year job. As far as i know the NY AG only promised to "name and shame" those who took the money and were responsiable for the equity crisis simply becuase THEY (AIG) PROMISED HIM they would not USE said monies to pay salaries of those responsible. They LIED and are still refusing to release the list of who got paid what. It was SOCIALISM that saved his job. He should be grateful to Marx-Engels and Hussein. His company would be bankrupt and he'd be out of a job anyway. Im not gonna cry because said socialists are now turning on him. If he truely was a "John Galt" character like everyone said he was he would've quit the company on general principle for it engaging in Communist practices.

We have leaders (people with a title) in government.......but no leadership.
5sub

Hope everyone is stocking up on foood & ammo.

We can't sustain the path of firing those who work and rewarding those who do not.

Reading the comments on the piece do not help my faith in the American people to think intelligently or logically.  At this point, I'd almost be surprised if our economy doesn't become socialist in my lifetime (I'm 25).  The mob that is "public opinion" seems to have no problem with the government taking legally earned money from people because a bunch of politicians say they're bad, and the president is showing more and more that he's the empty suit many of us said he was a couple years ago.

D'oh!  The search should have been "AIG" and/or "John Galt".  My bad, but at work I have to use www.jobrelatedstuff.com which does not have a search function...  Dems da breaks.

Another view on it.





DEAR Wall Street,

What a bunch of whiny f**king babies. John Galt would be puking blood for 200-pages over this load of sh**, you bunch of sobbing welfare queens. You f**ked up. You ruined everything. You broke it, and we f**king bought it, because big baby was too big baby to fail.

We get it all ways from you motherf**kers. You're robbing us of our present and future now, but first you stepped on our throats on your way to the top. You raked in the money with a bunch of made up fantasyland bullsh** that wouldn't fool a counting horse on America's Funniest Home Videos, but somehow suckered in every major bank in the world.

Credit default swaps.

Those things are so f**king dumb that when you explain them to somebody and they laugh about how dumb they are you've got to act like ooooh they're so magical and complicated. Far too complex for the plebes to get. No! Wrong! Go into OTB and put fifty dollars on Rambo's Beautiful Blood. You just bought a credit default swap. Whoaaa you're blowing my simple pea brain with your fancy Wall Street talkin'. You sadsack fuckers.

So everybody bought into your big scheme, even when they didn't know they were playing, and now the whole thing has come crashing down because too many people won the f**king unbelievably obvious bet that a million illegal immigrants were going to default on million dollar home loans. Suddenly all your stupid fake money is gone, but if it's gone the whole system of bullsh** lies collapses and you look like d**kheads. So whoopty-doo, now we gotta make the fake money turn real or else the house of sh**ty c**t cards comes crashing down, only there isn't enough real money to cover all the fake money, so we're making more real money.

Then there's A.I.G., the bad seed, the carbuncle on our anus, the weeping wound in our tit, the sorry source of all our misery and woe. This is the monster garage full of miscreants that dreamed up the fire-breathing nitro-gulping predicament we're in right f**king now. Their financial products division created the derivatives market from lies and their executives raked in billions in bonuses and easy money. While they were peddling bad bets, median wages in the US stagnated and poor working schmucks leaned increasingly on credit to get by. Prices on everything were going up, but credit was easy to come by what with all that bullsh** money to throw around. And then the good days ended, for the poor sh**head in the middle class anyway. While you a**holes on Wall Street were lining up for your first round at the government trough, the poor f**kers that had been using credit cards to maintain their standard of living from the 1990s were beginning to lose everything. Their houses, cars, health care, and even their jobs were disappearing. F**kers at Merrill-Lynch, A.I.G., Citi Group, Bank of America, and on, and on, and f**king on were taking huge bonuses or executive compensation packages. They were "retiring" to third world countries where their fortunes would set them up like kings.

And listen up motherf**kers, because we f**king paid for it. Us. The f**king taxpaying public. The dudes you have been grinding beneath your heels since you first read Ayn Rand and sociopathed your way through econ 101. We're your paymasters now, f**kers. And yeah, your tools in the government and in the press are between you and us for now, but we've got one trick up our sleeve. One and only recourse while you're raping us for our last f**king dollars.

We can get pissed. We can let the hate take over and form a f**king mob. When you take home bonuses from our money, when you get our bailouts and have your lobster luncheons or your strippers and coke parties at the Mirage, we'll be there with our torches and our f**king pitchforks. And just because you got your little crybaby letter in the New York Times, just because "the media narrative" is turning back in your favor, doesn't mean we have forgotten. We're pissed and we know what you did.

Jake DeSantis, you f**king narcissist, don't give me that bullsh** self-pitying resignation letter. Don't tell me you weren't the dick that has been f**king this country, just the hand on its throat. Don't make me laugh with your charity donation lesson in life. Let me give you a life lesson. We'll go through the Red Cross and the March of Dimes to get to you. We'll leave Jerry's Kids mewling and thrashing in the gutters and overturn the Salvation Army Kettle to get our f**king money back.

You're all scum. Villains. And before this is through blood will be shed. Human blood that doesn't come out of a gigantic f**king vagina like yours, DeSantis. It's not a threat, it's a promise you're making to us.

"Come get us," you're sneering.

"I hope you like to eat turds from a human butt," we're sneering right back.

Your offices will be lit from within by the fires of a thousand burning evil motherf**kers and their evil personal assistants. There will be chaos. Triple chaos. Saigon all over again. They'll be pushing G5s off the deck of an aircraft carrier to make room for the next private jet escaping New York. We'll string the filth of the NYSE from lamp posts and Rick Santelli's empty sockets will look out on the streets, choked with useless paper and cars torched for insurance money.

The orgy of our outrage will be legendary. We'll cut off hands and feet and gouge out tender parts. We'll feed chopped up guts to dogs and rotting carcasses can fertilize urban gardens. Remember that tree they put Conan on? No, that's not for you, that's for your wives! You should be so lucky!

The last of you, the scarred remnants of your horrible tribe, can read this to a congressional hearing, your voices quivering with indignation while pale fists hammer on the glass and cry to see your blood spill out in a red gush across the steps of the Capitol.

You motherf**kers had better be afraid. You haven't learned your lesson yet, but we have.

DEATH TO WALL STREET!

Sincerely and with warmest regards,

Zack Parsons

Fuck AIG they should be out of business. The bailouts were bullshit to begin with.

No love for DeSantis:

http://www.alternet.org/workplace/133627/aig_exec_whines_about_public_anger,_and_now_we're_supposed_to_pity_him_yeah,_right/

<Hey Jake, it's not like you were curing cancer. You were a fucking commodities trader. Thanks to a completely insane, horribly skewed set of societal values that puts a premium on greed and severely undervalues selflessness, communal spirit, and intellectualism –– values that make millionaires out of people like you and leave teachers and nurses, the people who raise your kids and clean your parents' bedpans, comparatively penniless –– you made a lot of money.>

He was there for 11 years and gets a $700,000+ bonus for a company that would of went bankrupt. Ive been at the same place for 14 years and am lucky to get $600 a year for a bonus. I certainly wont shed a tear for him or any aig employee.

I've worked for companies where one group made a shit-ton of money and another lost a bunch. The net effect was everyone got hosed on raises.

I didn't pen a puerile "I'm taking my job and going home" resignation letter, nor did I offer a public display of American Guilt by offering to send after tax profits to some 6th century hellhole in East Bukkakistan.

This is not in any way shape or form exonerating Congress who started this mess. AIG should have failed last year. Period. And Mr. DeSantis should have gotten in line with all the other creditors for his share of whatever was left.

And btw, I've seen this sort of thing first-hand before. In the 80's, when the Westinghouse financial group wrecked the company and led to it's eventual dissolution.

There seems to be a lot of people falling all over each other to come to the defense of a multi-millionaire who just volunteered to donate his $750,000 bonus to the victims of the global economic crisis.

What about Jake's victims? That's right Jake's victims. You see Jake says that he made all kinds of sacrifices for AIG, put in all kinds of long hours for AIG and was promised over and over and over that he would be compensated by AIG for his long hours. Now that he's been handed his $750,000 and people are mad about it he says he quits. Well, what about his victims? You see, Jake says that he has been working very hard lately on selling off one of AIG's business units to UBS. What happens to the people who work for that unit? Did any of them make sacrifices for AIG? Were any of them promised that their jobs were safe? Did any of them put in long hours and spend time away from their families for the benefit of AIG? What about the secretaries, analysts, accountants, brokers, salesmen and so on, who are going to or already have gotten pink slips thanks to Jake's hard work? Were these people responsible for AIG betting heavily on contaminated securities? Jake says that he is an innocent victim who had nothing to do with the contaminated securities business...well what about the jobs that AIG is shedding because of this, are these people not innocent victims as well? Innocent victims who DIDN'T get golden parachutes? Innocent victims who also sacrificed to make AIG successful? Innocent victims whose investments are worthless thanks in large part to AIG's bad business practices and now also find themselves without the benefit of a paycheck?

Tell ya what Jake, instead of handing your money out to some global charity, hows about if you buy an apartment building in New York and let the people who are losing their jobs because of you move in there rent free? You want to give back, how about helping the people that you're fucking over...your fellow innocent victims.

I really don't think we'll hear you stop bitching about it until he cuts a check for the bonus amount with your name on it.


 

Two perhaps less-than obvious tid-bits from this:

1) Mr. DeSantis excells at self-promotion. What better way to advertise your availability in the job market than to capitalize on a current page 1 story. If you re-read his letter, it includes everything a resume would.

2) His fellow AIG workers may not be too pleased, as now the impression is they are ALL getting $750K checks (which they may or may not have). That is completely off the radar for most people. I suspect many thought the bonuses were 10 or maybe 20 grand. If this data was not already out there, then SeSantis just threw gas on the fire.

I hope you didn't think I was denigrating the author of the resignation. I was expressing my distaste for the wealth envy that caused this man to resign.

I wouldn't take it. It's other people's money.

You'll hear me stop bitching when the Jake and his buddies admit that they have done the wrong thing by accepting money taken from other people and given to AIG for the purpose of saving the economy, for their personal profit and then return it.

A little over 1/4 my income last year was taken from me (in the form of Federal Income Taxes alone) before I ever saw it. I did the work, I saw the pay stubs, but I never saw the money. 3 months worth of unpaid labor right to Uncle Sam, who then handed it over to AIG and others, who then used it to pay themselves nice fat bonuses, while I ended up with a 10% paycut in December and lost all of my paid vacation and paid holidays. Jake gets $750,000 from money taken from taxpayers, and I don't even get paid on Christmas or the 4th of July. There is something upside down about that. Very upside down indeed!

Actually, we own 80% of the company and it is customary that the owners set the compensation for employees - not the other way around.



What was the purpose of publishing the letter - to try and justify a bonus for failure; a bonus for destruction of the company; a bonus for the destruction of the economy?

The way I read it this is someone who is mad because he got caught so he is trying to create sympathy for himself. "I want to give the taxpayers money to charity but the .gov already told me they're taking it back - so blame the .gov when neither of us gets to keep it - we're both victims now."

Fuck him & fuck all of his greedy co-conspirators.

I don't disagree with the bailout being wrong.

You're wrong. In a free market there is an agreement made between the company and a worker. If you think the boss tells people how much they are going to make and that's the end of it I'd like to see you tell everyone they will be working for $1.

Could it be your job just isn't worth as much?

I also don't see how it's AIG's fault that the government takes more of your money than you like, or AIG's fault that the government fritters it away on bullshit.

The company is going under anyway - these leeches are continuing to collect instead of being forced out. If they left the company couldn't be put in a worse position - it would just make it harder for the .gov to launder the tax money that they are giving to their politically connected buddies.

Nope. This is a case of robbing Peter to make up for Paul's short comings, in terms of units losing money and impacting the overall bottom line.

Did AIG ask the government for a bailout or did the Government come along and tell AIG that they were going to just give them almost $200,000,000,000?

Did AIG apply for TARP funding or did the Government volunteer it all on their own?

I can fail my business and ask for a $200,000,000,000 reward for fucking up tomorrow too.

Whose fault is it if I get it?

If someone robs a liquor store is the getaway driver also responsible for the robbery? He didn't go inside with the gun. He didn't walk out with a bag full of money. He DID participate in the robbery though and he did take his cut of the money. Does that not make him an accomplice in the robbery? If someone gets shot in the course of the robbery then the getaway driver WILL be charged with murder. If the getaway driver gets into a car accident and kills the robber then the getaway driver WILL be charged with felony murder. Why? Because his actions helped facilitate the crime!

Same thing. If you ask for the money and receive the money then you are an accomplice in the robbery of the tax payer. Sure, the government is the one waving the gun in my face, but you're benefiting from it as well.

Bad analogy.

The government and AIG aren't cooperating to rob you. AIG fucks up and, instead of going bankrupt like used to be the norm when a business fails due to irresponsible bullshit going on, the government robs you to pay them for fucking up, and then feigns outrage when they continue being irresponsible.

If things were being run in a sane fashion, your tax dollars would still be in your pocket and AIG would be bankrupt and auctioned off, along with whatever other idiot firms were in on their scheme. The only thing that even makes this situation possible is a government being run by ignorant power-hungry children with the ability to take trillions from people who work for a living and then piss it away and announce the only recourse is to take more trillions to piss away. See California.

I'm continuously amazed at how people who are logical thinkers on other matters allow emotion and populist sentiment override logic on issues of economics and wealth.

In a free market your salary isn't determined by how 'important' your role in society is but how valuable you are to your employer.

Most people would agree that teachers play an important role, but there is a rather large pool of talent for teaching vacancies. Supply and demand dictate a teachers salary (or should without undue outside influences).

Not everybody values everything the same way you do, the market allows for everybodies values to interrelate and set wages.

Capitalism made this country great, and I'm proud to consider myself a Capitalist. (even though I'm at the lowest rung in the free market system)

Interesting.

If that is the case, then why do people get upset with welfare recipients who get government handouts buying themselves big screen TVs and driving Escalades? Did the welfare queen take your money from you? Is it the welfare queen's fault that the government is giving her money? Why do people insist that welfare recipients should go to work when the government is perfectly happy to give them money and food stamps? Why do people act like it is a shameful thing to take welfare money? It's not like the people on welfare are stealing your money, the government is giving it to them. Right?