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AIG: Execs went on leisure retreat – Taxpayers to foot the 500K bill

By fpp ⋅ 7-October-2008 at 21:09 (UTC) ⋅ Post a comment

If you thought there might be some business ethics coming back to today’s executives in the banking business – think again. Looking at the biggest mess in worldwide finance ever created in mankind’s history and those guys still believe its business as usual. You hear stories of so-called executives that are leaving their sinking ships with severity / separation packages worth hundred of millions of dollars – at the same time their employees are left with nothing and many particularly the younger ones looking into a very gray future.

These are seemingly the signals sent out by the cover up plans hammered through these days by governments around the world – grab as much as you can today – we don’t know if we can sponsor your fat bonuses and pays with taxpayer subsidies in the near future. And don’t be shy – a hundred millions might not be as much tomorrow and you know – you did study economics and understand what happens as a result from these FED and other interventions with regards to inflation – don’t you?

Now one of the best indications what those people think has been provided during the House’s Oversight Committee hearing on AIG today. Just a week after the government agreed to bailout the tumbling AIG with USD 85 Billion of taxpayer money, the executives of AIG went on a leisure break spending almost USD 500K on manicures, massages, luxury dinners and hotel rooms…

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Quote of the day: Politics by Fear

By fpp ⋅ 4-October-2008 at 18:34 (UTC) ⋅ Post a comment

We would normally not quote a leading Nazi figurehead, but when this leader said the following lines he was certain that his life will soon end in the Nuremberg Trials and had no interest to palliate one of the fundamental principles of the Nazi reign in Germany 1933-1945.

The Nazis in Germany during that period were the first in recent history that have…

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