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I've decided to coin a new term for this (AIG bailout $)


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Corporate terrorism.

 

http://news.yahoo.com/s/ap/20090316/ap_on_re_us/aig_bailout

 

Terrorism: take someone hostage until your demands are met. Threaten to kill the hostage, get what you want, maybe kill them anyway.

 

Corp terrorism: take the economy hostage until your demands are met. Threaten to cut jobs, get what you want, pay huge bonuses & maybe cut jobs anyway. If you're a cc co, you raise rates after taking gov't $. Sometimes you cut people's balances below what they owe w/out warning.

 

There was something on NPR recently where this guy was lecturing Congress, telling them not to micromanage the bailout $ given to Talker Dude's co. He said that Congress wasn't trained to handle bankign & finance & that they should leave that to those who were trained for that. :smilielol5: Cuz I guess *now* they've figured it out???? :lol:

 

http://www.startribune.com/politics/national/congress/41085952.html?elr=KArks8c7PaP3E77K_3c::D3aDhU6:_0c:QyDiiUiacyKUnciaec8O7EyUr

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Good one. Is it me, or is it a little eerie that the finance people don't seem to get the irony of their statements? I heard last night that AIG is claiming they are contractually bound to give out that $165M in bonuses, so even though they don't want to, they'll have to pay them out. Ok, but, wait! They will grudgingly cut the "retention bonuses" by 30% but want everyone to realize that this could cause them to lose some of the "best and brightest". Best and brightest what? Surely they cannot be referring to the giant financial brains they've got on the payroll, right? The ones with the "golden parachute" contracts that commit to pay their salaries and bonuses for years if they are FIRED? For CAUSE??

 

Yeah, "Corporate Terrorism" seems to fit well. Maybe we can respond with a little "Public Loansharking Muscle" and commence to breaking kneecaps. You know, just randomly, to set an example. :D

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