Dems Investigating Bush Administration Role In AIG Collapse

[Imagevision]

A House oversight panel is investigating the role Bush administration officials and regulators played in the collapse of American International Group. - In November 2004, the Bush Justice Department and the Securities and Exchange Commission agreed not to prosecute AIG for allegedly helping companies fudge their books. In exchange, AIG agreed to host a government-appointed auditor in company meetings. At the time, Greenberg said it brought "finality to the claims raised by the SEC and the Department of Justice."

Affairs Committee Chairman Ed Towns (D-N.Y.) asked if he would be directly pursuing Bush administration officials, Towns said: "No doubt about it. That's the reason I want to talk to Greenberg first. He might even point some folks out. That's of great interest to us." The question remains, will the current Attorney general think otherwise?
http://www.huffingtonpost.com/2009/04/01/dems-investigating-bush-a_n_181868.html

[Imagevision]

1. I don't get it, this story won't be cariied by our great CNN-ers...

[stillcool]

2. the question is..

When was the last time a congressional investigation resulted in criminal charges? There needs to be a cottage industry of citizens lobbying relentlessly for accountability. I know...silly me.

[indepat]

3. Proud to kick this failure to prosecute AIG to the greatest page

:P

[formercia]

4. "No doubt about it. That's the reason I want to talk to Greenberg first."

Better do it under oath. Hank and Bush Gang have been in cahoots for decades. Hank knows better.

Who came up with this dog and pony show? These guys have obviously been taking pointers from Arlen Specter....

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5301441

http://www.uniset.ca/lloydata/pravda_engforum_aig.html


--snip--
Martin, who calls himself a "recovering Republican scamscateer," has written extensively on Bush Cabal Frauds which involve Jeb Bush, George Bush and Hank Greenberg of AIG.

In his column, "Greenspan, Greenberg, AIG & the Bush Family Connection: Are Decades of Fraud Finally Unraveling?," Martin writes that "readers may be interested in how the frauds between the reinsurance subsidiaries of AIG in the Caribbean relate to the so-called core business of insurance underwriting."

--snip--

[autorank]

9. How much do we the citizens own of AIG now?

And didn't AIG just issue credit default swaps anticipating GM's bankruptcy?

Who's on first?

[formercia]

10. Peanuts, here! Get your hot, roasted peanuts!

http://www.baseball-almanac.com/humor4.shtml



--snip--

Costello: That's what I want to find out.

Abbott: I say Who's on first, What's on second, I Don't Know's on third.

Costello: Are you the manager?

Abbott: Yes.

Costello: You gonna be the coach too?

Abbott: Yes.

Costello: And you don't know the fellows' names?

Abbott: Well I should.

Costello: Well then who's on first?

Abbott: Yes.

Costello: I mean the fellow's name.

Abbott: Who.

Costello: The guy on first.

Abbott: Who.

Costello: The first baseman.

Abbott: Who.

Costello: The guy playing...

Abbott: Who is on first!

Costello: I'm asking YOU who's on first.

Abbott: That's the man's name.

Costello: That's who's name?

--snip--

[autorank]

11. Bookmarked! n/t

[formercia]

12. You can compare it with the transcript of the hearing.

They should correlate closely.

The names are changed to protect the guilty.

[formercia]

13. Perhaps they can appoint Kenneth Starr as Special prosecutor.

Google Ken Starr AIG.......

[Last Stand]

5. There will be some serious muscle and threats thrown around on this.

BushCo won't let them get far.

AIG is a fancy excuse for a Ponzi scheme. All the money flew out to the pockets of the top teir of execs while it was being bilked from the foundation the company was built on. The math was not that complicated. They betrayed investors and now Americans.

But they're rich, and that's all that matters.

[rhett o rick]

6. Oh good, another investigation that will do nothing. nm

[formercia]

7. More fallout from AIG...

Swiss Re to slash over 1,100 jobs

April 02, 2009 16:37 IST

http://business.rediff.com/report/2009/apr/02/bcrisis-swiss-re-to-slash-over-1100-jobs.htm

Reinsurance major Swiss Re will be cutting over 1,100 jobs or about 10 per cent of its global workforce, as part of cost saving efforts.

"Swiss Re intends to reduce its current global headcount of 11,560 by approximately 10 per cent over the next 12 months," the firm said in a statement on Thursday.

The move is expected to save nearly 400 million Swiss francs (about $349 million) by the end of 2010. The company has also appointed Agostino Galvagni as its chief operating officer, with effect from May 1, 2009.

--snip--

[formercia]

8. Kick. n/t

[KharmaTrain]

14. AIG = Money Laundering Operation

Greenberg played the House Finance committee like a fiddle yesterday. He knows where the bodies are burried...on both sides of the aisle. He ran with the big dogs for 40 years and didn't stay on top and go out that way without making some very powerful friends and having a lot of influence. His company made a convenient money dumping and laundering operation that was desgined by the very people who would "regulate" it...money flowed in all directions and the ugly truth is still too painful for this government to fess up to.

Others have cited the BFEE connections and we're seeing how AIG...especially its "Special Products" division all but flaunted their criminality but knew the fix was in. Any whistleblower didn't stand a chance and since the money was good, you don't mess with a cash cow. How else could all the mergers and buy-outs take place...the billions had to flow from somewhere and then return.

I have far more faith in forthcoming civil lawsuits to do the real digging here. Washington is too conflicted, but those who lost their life savings aren't.