{"id":3026,"date":"2009-03-18T07:52:56","date_gmt":"2009-03-18T12:52:56","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=3026"},"modified":"2009-03-18T07:58:49","modified_gmt":"2009-03-18T12:58:49","slug":"on-the-front-page","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2009\/03\/18\/on-the-front-page\/","title":{"rendered":"on the front page!"},"content":{"rendered":"<div align=\"justify\">I guess one can&#8217;t avoid the <strong>AIG Bonus<\/strong> contraversy. It&#8217;s getting pretty complicated, and the universe doesn&#8217;t need anymore posts filled with venom about the fat cats getting paid fortunes for destroying the world economy. So I&#8217;ll just say &quot;ditto.&quot; Here are some resources available that clarify [and\/or complexify] the issue as of today:<\/div>\n<ul>\n<li>\n<div align=\"justify\"><a href=\"http:\/\/en.wikipedia.org\/wiki\/Joseph_Cassano\" target=\"_blank\"><font color=\"#300030\"><strong>Joseph Cassano<\/strong><\/font><\/a>: Joseph Cassano came to <strong>AIG<\/strong> in 1987 and started the <strong>Financial Products<\/strong> division, a London based group that sold the Credit Default Swaps that are in the eye of the storm. This article in the <strong>New York Times<\/strong> from September 27, 2008 describes what he did and he got rich doing it &#8211; <a target=\"_blank\" href=\"http:\/\/www.nytimes.com\/2008\/09\/28\/business\/28melt.html?_r=2&#038;pagewanted=1&#038;hp\"><font color=\"#300030\"><strong>Behind Insurer&rsquo;s Crisis, Blind Eye to a Web of Risk<\/strong><\/font><\/a>.<\/div>\n<\/li>\n<li>\n<div align=\"justify\"><a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2009\/03\/17\/AR2009031703019.html?hpid=opinionsbox1\" target=\"_blank\"><font color=\"#300030\"><strong>Our Mission at AIG: Repairs, and Repayment<\/strong><\/font><\/a>: Edward Liddy is the CEO of <strong>AIG<\/strong>, hired in September 2008 when everything hit the fan. He&#8217;s testifying in Congress today. This article is an Op-Ed in today&#8217;s Washington Post that starts with:<\/div>\n<ul>\n<div align=\"justify\"><em>The government rescue of American International Group (AIG) and other financial firms has produced a palpable wave of anger on the part of Americans and a rising public demand for accountability from corporate and government leaders. The anger is understandable, and I share it.<\/em><\/div>\n<\/ul>\n<div align=\"justify\">And ends with:<\/div>\n<ul>\n<div align=\"justify\"><em>We are pressing forward with our plan to return money to taxpayers, protect policyholders, and give employees a vision of success and a path for achieving it. With the understanding and patience of the American people and the continued support of the Federal Reserve and the Treasury, we can resolve AIG&#8217;s challenges and help its businesses contribute to a global economic recovery. <\/em><\/div>\n<\/ul>\n<\/li>\n<li>\n<div align=\"justify\"><a href=\"http:\/\/emptywheel.firedoglake.com\/2009\/03\/18\/cassanos-golden-parachute-and-the-retention-bonuses\/\" title=\"Permanent Link to Cassano\u00e2\u20ac\u2122s Golden Parachute and the Retention Bonuses\"><font color=\"#300030\"><strong>Cassano&rsquo;s Golden Parachute and the Retention Bonuses<\/strong><\/font><\/a>: <strong>emptywheel<\/strong>&#8216;s take on the recent AIG Bonuses. In this post, she parses the AIG contract in her usual closely read fashion.     <\/div>\n<\/li>\n<li>\n<div align=\"justify\"><a href=\"http:\/\/www.talkingpointsmemo.com\/archives\/2009\/03\/a_closer_look_please_1.php\" target=\"_blank\"><font color=\"#300030\"><strong>A Closer Look, Please<\/strong><\/font><\/a>:<\/div>\n<div align=\"justify\"><a href=\"http:\/\/tpmmuckraker.talkingpointsmemo.com\/2009\/03\/2003_lawsuit_suggests_aig_wasnt_always_so_careful.php\" target=\"_blank\"><font color=\"#300030\"><strong>2003 Lawsuit Suggests AIG Wasn&#8217;t Always So Careful To Honor Bonus Deals<\/strong><\/font><\/a>:<\/div>\n<div align=\"justify\"><a href=\"http:\/\/www.talkingpointsmemo.com\/archives\/2009\/03\/and_still_more.php\" target=\"_blank\"><font color=\"#300030\"><strong>And Still More<\/strong><\/font><\/a>:<\/div>\n<div align=\"justify\"><strong>Josh Marshall<\/strong> at <font color=\"#990000\"><strong>TPM<\/strong><\/font> summarizes the history and clarifies some of the issues involved in these bonuses. <\/div>\n<\/li>\n<\/ul>\n<div align=\"justify\">As for myself, I feel kind of calm about this whole thing. For eight years, as outrage after outrage has passed before us, we&#8217;ve known almost nothing about what has really gone on. We wanted transparency. Well, here it is. In some ways, it&#8217;s almost too much to take in. But the Press and Congress are all over it. Whatever happens, it has to be good because it&#8217;s on the table. For once, I don&#8217;t feel obligated to spend hours looking for hints about the back story. It&#8217;s on the front page! [where it should have been years ago, back when we might have helped us avoid ruin and destruction].<\/div>\n<div align=\"right\"><em>Were I Joseph Cassano, I might hire me a whole Law Firm. <\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>I guess one can&#8217;t avoid the AIG Bonus contraversy. It&#8217;s getting pretty complicated, and the universe doesn&#8217;t need anymore posts filled with venom about the fat cats getting paid fortunes for destroying the world economy. So I&#8217;ll just say &quot;ditto.&quot; Here are some resources available that clarify [and\/or complexify] the issue as of today: Joseph [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3026","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/3026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=3026"}],"version-history":[{"count":0,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/3026\/revisions"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=3026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=3026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=3026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}