Action on AIG unit may cost taxpayers: report

[ShockediSay]

Source: Yahoo reporting Reuters reporting WallStJrnl

(Reuters) - The controversy surrounding American International Group Inc's (NYSE:AIG - News) bonuses to employees could make the process of winding down the insurer's financial products unit more costly for taxpayers, the Wall Street Journal cited the unit head Gerry Pasciucco as saying.

Pasciucco told the paper that the controversy "hurt morale" and "stunned people such that our wind-down has slowed down."

"Taxpayers probably have been damaged," Pasciucco told the Journal, adding that 20 of the unit's 370 employees quit amid the controversy.

Read more: http://finance.yahoo.com/news/Action-on-AIG-unit-may-cost-rb-14907412.html;_ylt=Ap0PNAnq9y2iyKGnkMgyaLq7YWsA?sec=topStories&pos=8&asset=TBD&ccode=TBD

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You mean more than AIG already cost taxpayers?

Of course we can trust a unit head of AIG

as reported by Rupert Murdoch's WallStJrnl

Right?

These bonus driven bastards busted our economy and cost
millions of jobs.

Bust up AIG, sell of the profitable parts, and shit-can
the rest of them, I say.

[high density]

1. This is rich reporting...

It costs something to wind down a business?? Who would've thought?!!? What does the WSJ recommend we do, subsidize it endlessly instead?

[Igel]

4. Ever wind down a disaster?

Or even serve as executor for a dead person's estate?

Your assumption is apparently that it must either be free or infinitely expensive. http://www.nizkor.org/features/fallacies/false-dilemma.html .

The article doesn't seem unreasonable--while the disaster has been serious, it could have been far worse. Indeed, it may have become worse, but to consider that would mean taking responsibility and getting a grip on one's self.

[sybylla]

2. Last I knew, we were a nation unafraid to spend money to put people behind bars

Which is exactly what we need to do to these great steaming piles of greed.

[mbperrin]

3. Can we let the SEALS deal with THESE pirates, too?

Please?

[Igel]

5. Sure, if you want to put another

trillion dollars or so into the problem--this time with no hope of any return.

[mbperrin]

8. There IS no hope of any return, and it's going to cost many trillions of dollars.

So why let the burglars stay in the house just because they "promised" to neaten up?

You know what thieves do? They steal. When caught, they whine.

This crap they created is vapor. Always was. No assets of any kind, because a failed bet is not an asset.

They sat down at a table, gambled, lost, welshed on the debt, and want me to cover it.

I just want to throw them out and burn the casino down. Much cheaper, more morally satisfying, too.

[mulsh]

6. this comes from the head of the AIG unit, maybe if it were the

assessment of an independent auditor it would carry weight. I smell a deep pool of bullshit here.

[Blackhatjack]

7. You mean 20 of 370 AIG employees left a dead corrupt corporate zombie? Should have been more...

That is the most ridiculous statement he could have made.

We taxpayers were gutted at every turn with AIG, and we aren't getting our $$ back ... that is just the way it is.

[Political Heretic]

9. Oh. My. God.

These people think that stories like this help them out, when all they do is underscore how totally, INSANELY out of touch these people actually are with like.... EVERYONE ELSE IN THE WORLD.