George Stephanopoulus is reporting on his Twitter feed that the top three executives within the Financial Products Division of AIG, as well as several others within that division, have resigned, citing concerns for their personal safety. With the anger throughout the country mounting I think you can expect more defections from AIG, which would complicate the ability of the Company to wind down some of their complex financial positions.
-
Recently Written
- The Lessons of Munich
- A Look at “Stuck” by Yoni Appelbaum
- Town of Seabrook 2024 Water Sewer Financial Reports
- A Look at Apple in China by Patrick McGee
- A Look at Presidential Command by Peter Rodman
- Seabrook Announces Tax Agreement With NextEra
- Seabrook Memorial Day 2025
- Tony Blair On Leadership
- A Look at “Why Nothing Works” by Marc Dunkelman
- A Look at “Abundance” by Ezra Klein and Derek Thompson
Archive
Categories
- Appeasement
- Books
- Brexit
- Capital Improvement Plan
- Casino Gaming
- Education
- Education Reform
- Electoral Map
- Fifth Congressional
- Greece
- Health Care Reform
- History
- International
- Ireland
- Manzi in the Morning
- Media
- Merrimack Valley Politics
- Methuen
- Methuen City Council
- Methuen Mayor's Race
- Munich Conference
- Municipal Finance
- Music
- National News
- NextEra
- Resiliency
- Seabrook
- Song of the Week
- Sports
- State News
- Surveys
- Technology Beat
- Transportation Finance
- U.S. Senate Race
- Uncategorized
- WCAP Podcast
Bill Manzi.com 
I do not countenance the threats to their safety. However, they should resign. They ran the company into the ground AND want to be rewarded for doing so. But…. just where do they think they will be hired? I should think putting AIG on their resume would not be a good thing.
LikeLike
So, this is the new brave world. People have to flee to protect themselves and their families.
By the time we get through with card check, health care and Amnesty we all begin to fear an abusive government led by the chief abuser Nancy Pelosi. As a sign of things to come is the congress passing putative legislation to correct a situation to which they had the responsible and power to prevent.
Even in Boston, the cradle of liberty, union thugs are now picketing the local AIG office and haranguing employees.
Jules
LikeLike
I think it’s about friggin’ time that people in this country are getting angry about how only the precious few get E-ticket access to the American Dream.
Not that I condone violence, but a little fear on the part of those that knew no fear while stealing our money can be a good thing.
-FM
LikeLike
Summer:
On the contrary: ex-AIG people are getting snapped up by other companies. I look forward to having to revisit issues just like this in the future.
As long as there are laws and it’s profitable to evade them, there will always be a market for the skill. Just ask a lawyer! 😉
-FM
LikeLike
Jules:
Wow, picketing and haranguing? Not busting heads? Sounds terrible!
The only thing that’s bad about it is that I’m sure the Boston employees had little to do with the problem. I’d take a road trip to Connecticut …
-FM
LikeLike
Fred,
Are you listening to yourself? Once thuggery becomes a justifieble (by yourself for instance)then it’s only a short step to violence.
Are you the brave new world we are entering? Are you Obama’s legacy?
Jules
LikeLike
Jules:
I hear myself, believe me.
I’m angry at a lot of things, and I’m happy to call theft (whether it be at gunpoint or by financial institution) theft. I’ve been robbed, you’ve been robbed, the entire country has been robbed. Aren’t you a little bit angry? Or are you happy when they shrug their shoulders and tell you to “go talk to the invisible hand”, and/or “we’re too big to fail, so bend over”?
The status quo will no longer do: one small slice of America getting rich, while the rest compete with the second and third world for their wages.
I don’t call the exercise of free speech in the form of a harangue outside of an AIG office thuggery. As far as I know, no one’s been hurt yet.
No one ever said that democracy is pretty. In fact, about 20 miles down the road from us about 235 years ago, a bunch of farmers decided that they had had enough with how they were being treated by their oppressors, and did something about it. Hopefully this time, we can bring about a more peaceful (but every bit as needed) change.
I’m not yet convinced that Obama will go far enough, but it’s early yet, and the situation we’re currently in deep. But I think so far, he’s on the right track.
-FM
LikeLike
Fred,
I feel the same about the impending socialism to descend on us. If you think a federal bureaucracy will be any kinder to you than those corrupt fellows at AIG. don’t forget the United States congress is a partner with the AIG’s by creating the sub-prime market.
The difference is the bureaucracy doesn’t go bankrupt.
To return to the issue at hand, mob rule will lead to violence or at least strike fear. If it can happen to them, it can happen to you and me.
Jules
LikeLike
Jules:
If you’re saying that the road to hell is paved with good intentions, then you have a reasonable argument.
But don’t forget, global capitalism is on the brink of failure, and it has a structural flaw: the workers that are the means of production are having their wages driven to zero, while those with the capital live high off the hog.
Until the structural problems are repaired (and only government intervention, reregulation, and tax policy can fix the errors), we will not grow and be prosperous again.
Don’t forget that much of the GDP growth since the .com bubble burst were in two places: the housing market (BOOM) and financial services (BOOM-BOOM). In other words, nothing of substance.
I’ll put my pitchfork away when these inequities are fixed. In the meantime:
Don’t Tread On Me.
-FM
LikeLike
Fred,
Those guys 20 miles down the road were fighting what they thought were punishing taxes from the Homeland. They took up guns because there was now way to be heard.
Now we are being taxed to resolve all our leaders’ ineptitude and we are just as helpless.
Obama’s solution will be to bring as much as possible under Government control and cut you and I out altogether.
Your recourse is to be heard by a deaf ear.
Just remember, if Enron were a Federal program, it would still be in operation today.
I wounder what you will say when bureaucrats decide all aspecs of your life.
In closing I wounder if you would have the courage to face a line of disciplined red coats with bayoneted guns to redress a wrong?
Your are right about one thing, we have to wait to see what happens. Based on what Obama is saying, we won’t have long to wait.
Jules
LikeLike
Jules:
You’ve really got to get outside and get away from your radio: you really don’t play the victim well. C’mon, man, are you really that scared of the evil Nancy Pelosi and Barney Frank? What has this country come to?
Compare and contrast anything that Obama actually does with the suspension of habeous corpus, the secret jails, the illegal wiretaps, the spying on bank and library records, and the rest of the Patriot Acts by Bushie the Wonder Dog and Darth Cheney and gang, then let’s talk about freedoms lost. Haven’t you defended that record? Physician, heal thyself!
As for Enron statement: not so sure, only Republicans would have voted for it, and they’re in the minority now.
As for your redcoats question: as long as I have an M16 and a few full clips, no problem.
😉
-FM
LikeLike