Results tagged “A.I.G.” from HAWT action [hot ak-shuhn]

JLF: Bailout Disaster - Microsoft's Bridge

By Johnny Lead Foot on April 2, 2009 10:30 AM | | Comments (0) | | | |
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Johnny Lead Foot here, and I'm pissed...

First let me say that January 30th I posted this post: JLF: Bailout Disaster - How A.I.G.'s Spending MORE of Your Money.  It announced that AIG is giving $450 million in bonuses to the 400 employees who ran the credit default swap operation.  The news fell on silent ears, then, over a month later, it became headline news and the world became furious.  What does that tell you?  Just read HAWTaction.com  Don't wait to be mad... we'll bring your the fuel.

So, this series of all series is back, where I open a tiny window into what YOUR bailout money is doing for those receiving it.  Not only have I covered AIG's bonus, but I've covered how the government incorrectly valued assets, losing $25 billion of taxpayer money.  There's good stuff in this series, so click on Bailout Disaster on the right to check out the good stuff.

Today?  I'm taking the "Bailout Disaster" and spreading it into the "Stimulus Package."  The scope of the series grows.  So... today?  Microsoft.  They got $11 million.  They are building a bridge to themselves.

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JLF: Bailout Disaster - How the Government Incorrectly Valued Assets

By Johnny Lead Foot on February 13, 2009 5:00 PM | | Comments (0) | | | |
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Johnny Lead Foot here, and I'm pissed...

Last month I looked at how AIG's using tax payer/bailout money to give out bonuses the likes of which I've never seen... certainly for a company that went, essentially, bankrupt.  You can check out those posts, along with all of my other great posts, if you navigate on the right.  (Bailout Disaster for the former, Johnny Lead Foot for the latter... and shame on you for not reading them all real-time.  Respect yourself by respecting me!)

I have to restrain myself from posting a Bailout Disaster window every day.  The first bailout wave was so pathetic... it kind of makes me hesitant to trust another, you know what I mean?  Maybe we can actually learn from the first one.

Stop laughing.

Stop it.

Ok.  I'm laughing with you.

Again, this series will provide small windows into the Bailout Disaster instead of fusing into giant a 45,000 word report.  So, what news has come out recently?  What window is this?  It involves AIG again, and I read about it on BloggingStocks...

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JLF: Bailout Disaster - How AIG's Spending MORE of Your Money

By Johnny Lead Foot on January 30, 2009 11:00 AM | | Comments (4) | | | |
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Johnny Lead Foot here, and I'm pissed...

Three days ago, I took you on a ride into AIG's bonuses: JLF: Bailout Disaster - How AIG's Spending Your Money.  I find it insane that the one company I know that's is handing bonuses out to its employees is AIG, the insurance agency that has been given over $150 billion in bailout money by the government.  Read the post from three days ago, because you should read every one of my posts.  I'm the man.  Absorb how they doled out bonuses averaging almost $150,000 to employees of one of their business units, then dig into this new information I found in the New York Times.

This one will piss you off even more.

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JLF: Bailout Disaster - How AIG's Spending Your Money

By Johnny Lead Foot on January 27, 2009 8:30 PM | | Comments (9) | | | |
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Johnny Lead Foot here, and I'm pissed...

I am not a fan of this government bailout bonanza, but for lots and lots and lots and lot and lots of reasons.  (This might just be the beginning of a hell of a series.)  If I were to start rattling off the reasons, this post would be a thousand lines long... and it would only stop there because my head would have exploded from full rage.  The bottom line?  The government argues that some of these companies are too big to fail (i.e., AIG, Citibank, Bank of America, General Motors).  I say, as does Brent Hatley, if they are too big to fail, they are too big to exist.  Companies shouldn't be that important to our economy.  If a company gets that big, the government should have great oversight over their operations and their industry to make sure they don't get int a position where they'll fail.  General Motors, for example?  They should have been forced to make more fuel-efficient cars and restructured their relationship with their workers' unions.  Citibank?  They shouldn't have promised trillions of dollars in Credit Default Swaps and bet billions on the housing market and leveraged themselves to a 30:1 level.  (Just read John's good series: Economic Collapse.)  Instead, we are promising these companies trillions of dollars, and - what's worse - there is no oversight in how those funds are being used.  It's the worst stereotype imaginable about a government-run operation.  It's what people think universal healthcare would turn into.

Anywhoo... instead of covering the full scope of this Bailout Disaster, I'll do quick posts about the situation.  JLF will feed you a rage-inducing nibble.  So, get a tiny napkin and get ready for this amuse-bouche.  I'm going to cover how a bit of the money is being used.  You will be furious.

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