Friday, March 27, 2009

AIG: The Early Years


Worlds are turned burned on such thoughts.

5 comments:

Yodood said...

Oh yeah. Driftglass, the Hammer. Nailed it.

Rehctaw said...

Except for the illegal part and the going to jail part, that just about sums it up.

Ethically, morally and by any other standard; wrong, but technically legal? Do they teach that at Liberty Law School? A "CRIME" goes to intent.
The intent of CDOs, CDSs, and creative bookkeeping was to circumvent the law. Hence CRIMINAL.
Now, then, and in perpetuity into the future. Restoring the rule of law demands prosecution. Restoring our economy demands a thorough reconciliation of the books. Anything else isn't justice.

The numbers guys, more than anyone else, KNOW this. Once started is half-finished.

Yeah, it sucks, but it's the only way out/through this to the other side.

Cirze said...

Thanks, rehctaw,

Do they teach that at Liberty Law School?

Yes.

Thus, the word "liberty" in the title. Liberty for them to evade prosecution.

The numbers guys, more than anyone else, KNOW this.

They've known it all since the beginning.

Keep thinking of Phil Gramm's (remember his little wifey poo at Treasury?) and Newt Gingrich's Cheshire cat grins.

What they didn't know was exactly what the endgame would be - and whether they would be safely on their gated islands and out of the way by then.

Anyone seen Bob Rubin lately?

S

Anonymous said...

And just like Leo Bloom's fear that Max would jump on him and kill him, so is our fear of letting the giants fall. For Christ's sake, we should at LEAST bust up companies like AIG into smaller pieces b4 giving them billions

StringonaStick said...

Too true; to big to fail is too big, period. Time for some chopping up of these behemoths into bite sized, failable pieces.