Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
He was ousted from A.I.G. in an accounting scandal in 2005, so i think you need to talk to the previous administrations czar.
In this case, it would have been helpful to read the story before commenting.
This has nothing to do with the previous adminstration.
Quote:
Even as he has been lambasting the government for its handling of A.I.G. after its near collapse, Mr. Greenberg has been quietly building up a family of insurance companies that could compete with A.I.G. To fill the ranks of his venture, C.V. Starr & Company, he has been hiring some people he once employed.
Now, Mr. Greenberg may have received some unintended assistance from the United States Treasury. Just last week, the Treasury severely limited pay at A.I.G. and other companies that were bailed out by taxpayers. That may hasten the exodus of A.I.G.’s talent, sending more refugees into Mr. Greenberg’s arms, since C. V. Starr is free to pay whatever it wants.
Last edited by allydriver; 10-27-2009 at 06:47 AM..
And if AIG 1 was allowed to fail, this man wouldnt have had billions of $s to build AIG 2.
AIG sued Greenberg earlier this year for assets (primarily billions in stock certificates) that they claimed belonged to the company, that he took with him when he was ousted. Greenberg won, and now using the pumped up stock price to buyup other companies.
In this case, it would have been helpful to read the story before commenting.
This nothing to do with the previous adminstration.
I read the story, just didn't have time to finish, while on the road.
Ex-exec's have raided their former companies for years, with or without a change in the companies climate or pay scale. When they've started a new company, they've grabbed those that previously worked with them - sometimes years after they left the company.
I'm sure most of Enron's fine devoted middle management, found new work (many in the insurance & health industries)and are now using the same management tactics.
I read the story, just didn't have time to finish, while on the road.
Ex-exec's have raided their former companies for years, with or without a change in the companies climate or pay scale. When they've started a new company, they've grabbed those that previously worked with them - sometimes years after they left the company.
I'm sure most of Enron's fine devoted middle management, found new work (many in the insurance & health industries)and are now using the same management tactics.
Why is it so difficult to see the conclusion to be be drawn from the article. The conclusion is that government attempts to regulate usually end up with unintended consequences - good people leaving the firm just as those opposed to the Pay Czar predicted.
But no - it must come down to "ex-execs raiding", "grabbing", "raping and pillaging". Well, if that is your view of the world, I guess the glass is always half empty.
it is always interesting to not only read the article but to read the comments to the article. this is my favorite:
What a farce that the Official News channels like the NYT continue to refer to these greedy, rapacious finance leeches as "talent." It reminds me of the years that we had to listen to the same Official News sources uncritically reporting on Bush's claims of "intelligence" to justify invasion and war against non-existent WMD. Just because the finance industry was able to buy enough politicians to ensure that their institutionalized fraud would never be criminalized, it doesn't mean that they're not criminals. Just as our disastrous foreign policy wasn't remotely grounded in "intelligence," likewise these shapeshifting finance roaches aren't "talent." They're despicable moral degenerates who prostituted their professional faculties to enrich themselves and their corporate owners shamelessly, at vast pubic expense that will never be repaired or repaid. This gives you an idea of the barrel-scraping moral calibre of this Greenberg roach wrangler. America's utter failure to confront this kind of massive, institutionalized corruption, with these finance roaches getting bonuses while we have to lay off teachers, is yet another sign that corporate-owned politicians will cravenly run the country utterly into the ground before they will actually govern in the public interest. Corporate America is cannibalizing its own societal host with public subsidies, and the New York Times calls it "talent."
So bankers are evil yet the government gave them money.
Insurer's are evil yet the government gave them money.
Auto execs are evil yet the government gave them money.
If they are so "evil" then why did the government give them money and bail their companies out ?
IMHO..the government and MSM are playing up the "evil" part just to sway public opinion that they are the bad guys and the government is the good guys fighting for "truth, justice and the American Way" !
Right..if the government hadn't cow-towed to those corporate types years ago and changed the rules and regulations then those corporate types would not have been legally allowed to do what they did.
I dont understand how this is Feinberg's fault. Do you mean that as far as you're concerned, executives at companies that received "exceptional TARP assistance" *shouldnt* have had caps?
Why is it so difficult to see the conclusion to be be drawn from the article. The conclusion is that government attempts to regulate usually end up with unintended consequences - good people leaving the firm just as those opposed to the Pay Czar predicted.
But no - it must come down to "ex-execs raiding", "grabbing", "raping and pillaging". Well, if that is your view of the world, I guess the glass is always half empty.
I dont think those are "good people," I think those are greedy people who are interested in money for themselves above anything else.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
