Friday, August 21, 2009

All In Favor Of Shooting Bank Execs Say Aye

This piece from Bloomberg has me furious.

www.bloomberg.com/apps/news?pid=conewsstory&tkr=AIG%3AUS&sid=aBMbXtpD2QG8"

Robert Benmosche the newly appointed head of AIG had these gems for its new boss, namely us the taxpayer.

"I don’t liquidate things, I build them."

"When we get the fair value for those businesses, that’s when we’re going to sell them, it’s not going to be before."

"I want to make sure we all get paid competitively."

"It’s time the people in Congress stopped talking about you as the problem, because you’re the solution"

"It’s not your fault, it’s their fault, it’s the regulators’ fault."

"If you shoot the lights out in a given year, we should have enough flexibility to give you a big increase."

I like the part about shooting.

This is the best part. A true gem.

"had the luxury to say to the government, I’m not going to rush to do this. I’m appalled at how much pressure has been put on all of you to just sell it no matter what, because the Fed wants out, or the Treasury wants out. If they want out in a hurry, they should not have come in in the first place."

Where was this guy when last fall?

Also, AIG stated that they would pay back the taxpayer/government in two years. That they had lots of pieces that were worth tens of billions.

We all should let the new CEO now that we own 79.9% of this piece of crap company. Can you imagine this guy talking to Fidelity or American Capital like this? We would be fired on the spot.

This is just more fuel to my revolution story.

tradersutra.blogspot.com/2009/08/meltdown-soon-social-unrestrevolution.html"

This type of CEO behavior is just unacceptable.

2 comments:

  1. Benmosche was soaking the plentious sun in the Adriatic resort country of Croatia during this interview. Forget all the turmoil Croatia had been through, Little Ben boy doesn't care, he was there on a wine tasting sojourn so you can't blame him for the stupid insensitive things he says. He doesn't care about american taxpayers or boring things like that, ask him about his golf swing or what wine of choice his discerning palate yields if you want a more forthcoming yet even more insipid interview with him.

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  2. Ladies & Gentlemen-
    I introduce to you Ash Trader!

    ReplyDelete