Use access key #2 to skip to page content.

TMFEditorsDesk (< 20)

Really, AIG? Really?!



July 10, 2009 – Comments (5) | RELATED TICKERS: AIG

Those familiar with SNL's news skit informally known as "Really?", may remember the likes of some of these hysterical lines:

"Really Blagojevich? You're not going to resign? Even Illinois politicians think you should resign -- and when Illinois politicians think you're too corrupt --you're too corrupt. Really!".

Or the more relevant uproar over American International Group's (NYSE:AIG) prior year luxurious California "team building" retreat:

"Really AIG, really? You went on this retreat 6 days after receiving an $85B bailout, really? Even the mafia knows not to spend money that soon after a heist. Really?! You spent $150K on your personal waiters, really? Was your waiter Prince? I mean really?"

Which brings me to today's news: AIG requested permission from the government to dole out millions of dollars to their top executives. Although they don't actually need permission from the Fed, they feel a bit "gunshy" due to the outrage unleashed upon them a few months ago when attempting to give out similar bonuses. An AIG executive is quoted as saying, "Anytime we write a check to anybody, it's under tight scrutiny.....we want to feel comfortable that the government is comfortable with what we're doing".

Well, excuse the general public for putting the company under tight scrutiny. Last time I checked, the government had a 79% stake in the company -- I mean, really, AIG?! Bonuses, already?!

5 Comments – Post Your Own

#1) On July 10, 2009 at 9:56 AM, portefeuille (98.88) wrote:

background info is here.

Report this comment
#2) On July 10, 2009 at 10:06 AM, Dividends4ever (< 20) wrote:

I would not touch AIG unless you are outright gambling.

 There are just way to many other investments out there that make sense.


Just my opnion. 

Report this comment
#3) On July 10, 2009 at 10:10 AM, TMFPhillyDot (33.15) wrote:

Again, forgetting to sign off - Jordan DiPietro

Report this comment
#4) On July 10, 2009 at 10:15 AM, Bamafan68 (98.26) wrote:

Not that it makes a huge difference, but I am really glad I rolled my 401K over into an IRA not held by AIG.

Report this comment
#5) On July 10, 2009 at 3:18 PM, TMFEditorsDesk (< 20) wrote:

The clips from SNL:

Report this comment

Featured Broker Partners