Two sides to every story

[92bDad]

I am truly getting sick of the media’s coverage and blatant agendas…as well as the actions of many politicians cowering to the media pressure!!!

Here’s a link to AIG’s VP Resignation letter: http://www.nytimes.com/2009/03/25/op...pagewanted=all

Here’s a Glenn Beck opinion peace: http://www.glennbeck.com/content/art...98/23191/?ck=1

[chumdawg]

Easy come, easy go. As they say.

[Mavdog]

it's quite ironic to see the post's link to a scathing letter from the aig executive published by the nyt, while at the same time the post gripes about the "media's coverage and blatant agenda"....

[92bDad]

Yes it rather Ironic...perhaps some credit to NYT for actually publishing the letter.

It's interesting that all I've seen on MSNBC, France24 and other International news outlets has been the Protest in front of AIG, as well as the outrage from politicians towards AIG.

Until this link to this letter from an e-mail that I get from the Glenn Beck show, I hadn't heard a thing from the side of AIG.

Reading this letter I understand that these senior executives are NOT the ones who caused the problems within AIG, but rather were loyal workers who rose through the ranks and actually have a legacy of positive returns for the company. As the company itself was going into difficult times, these executives agreed to a contract that paid them a salary of $1....yes that is one dollar...to work 12, 14, 16 hour days in order to get AIG through this crisis. As part of that contract, AIG agreed to pay them a 'Bonus'

In other words this was a contractual agreement to simply compensate these Executives for the work they are doing...but that part is not being reported.

The other interesting point in his resignation letter is that he is choosing to donate 100% of the non-taxed money to organizations working to support people in need as a result of the current financial crisis. So now the move is up to the government, if they tax him 90% on that bonus, then they are stealing from the very people that the money is intended to go to.

So before everyone jumps the gun and vilifies these AIG execs...perhaps we should pause and review the whole picture.

Why not on the same note, take a look at the points brought up by Glenn Beck...what about those who paid for buses to go in and pick up these groups of low to no income people to stand out at AIG and protest. Isn't that what ACORN did, or similar tactics to get the banks to lend money to underqualified borrowers?

Saddly low and no income people are being manipulated by these so called community organizations...even more tragic, they are giving a bad name to some other rather exemplorary groups who do provide support to people in need.

How about the other points which tie Freddie Mac and Fannie Mae this this administration and various people within the administration...to include family relatives?

No Justice No Peace!!!

For those who like to blame Republicans and blame conservatives...I would encourage you to take a deep look at what Democrats and Liberals are doing. They have the power, and they are currently the ones using corruption within that power to simply increase their own selfish wants...which is basically more power.

the old saying of two wrongs don't make a right is coming to mind.

The Housing and Banking Crisis has had it's fair share of wrongs, but clearly Obama and his soldiers are trying to fix it with another wrong.

So much for a United States...we are truly the land that is now Divided...

[Mavdog]

yes, some of those who received bonuses were involved with the financial products division at aig where the problems were rooted (credit default swaps in particular).

why did aig get into trouble? they had hundreds of billions of $ committed to guarantee performance of securities, they insured the borrowers, and the borrowers started to default.

why did aig get so exposed? they had an 80% profit margin on these policies. the people who were pushing the swaps made millions of $ by generating that profit.

just follow the money....

[92bDad]

[dalmations202]

Originally Posted by Mavdog

<snip> (you don't really need any of this anyway)

just follow the money....

This answers most questions if people really want to know the answer from "is it fixed", to "Who killed Whom", to "what caused this".


Democrat, Republican
Muslim, Jew, Catholic, Protestant, Atheist
North or South
Black or White

Nearly all answers eventually come back to --- just follow the money.