* AIG CEO: Liberals are deadbeats

[cali]

By Andrew Leonard


AP/Pablo Martinez Monsivais

Could Treasury Secretary Timothy Geithner please send someone over to AIG to slap some sense into CEO Robert Benmosche? I am aware that the man is undergoing chemotherapy in a fight against cancer, but that's no excuse for the remarks he made at an insurance conference in Washington on Tuesday. According to Benmosche, cultural reasons explain why AIG's mortgage insurance subsidiary is doing better in red states than blue states

"All of the states where we're a leader, where we're the No. 1 insurer, are red states, all of the states where we're at the bottom are blue states," Benmosche, 66, said yesterday at a conference in Washington. "Part of what we found out is that our model is about culture and it's about the attitude in the public. And what we find is where there's more of a tendency for people to be more liberal, more that the government is responsible for what happens to me."

In other words, liberals are deadbeats. They're not buying mortgage insurance because they'll be happy to walk away from their loans, no doubt whistling "This Land is Your Land" while they shred their mortgage statements.

<snip>

http://www.salon.com/news/bank_bailouts/index.html?story=/tech/htww/2011/02/02/aig_ceo_benmosche_liberals_deadbeats

[northoftheborder]

1. The man is a lowlife - doesn't deserve his job.

[KansDem]

2. Didn't we bail out AIG?

And since blue states pay more in taxes and receive less in federal programs, it can be argued that liberals footed a lion's share of the AIG bailout.

This fucker needs to learn some manners...

[SharonAnn]

3. BLue state people have more assets, more equity, don't need expensive "Mortgage Insurance"

Which is way overpriced. It's required of people who don't have adequate down payments on their homes. It's also purchased by people who are willing to overpay for insurance.

If we need insurance, we just buy much cheaper term insurance so that the mortgage could be paid off if we die.

Blue state people are smarter! And more affluent!

[coalition_unwilling]

7. FHA loans require PMI. I live in California (bluest of blue states) and

because we financed with FHA and only had to put down 3.5%, we had to take PMI. It sucks (about $100/month), but it will go away when our mortgage balance falls to 78% of the total value of our house.

[dkf]

9. I was told the PMI doesn't go away for FHA loans.

Is that wrong?

[coalition_unwilling]

10. I have a layperson's understanding of the matter. But unless I misunderstand

plain English, BofA (which currently holds our note) says that the PMI on our FHA loan will automatically end when the mortgage principal diminishes (either through regular P&I monthly payments or through price appreciation) to 78% of the property's value. I live in California and am not sure if this rule is state-specific.

[SharonAnn]

13. Yes, I think so. When you get enough equity in your home, it can be cancelled.

[SharonAnn]

12. That's because you only put down 3.5%. I think at 20% it's no longer required.

[Democrats_win]

4. Conservatives are deadbeats and traitors for refusing to pay for Bush's wars.

[Initech]

5. Anyone who makes billions and doesn't pay taxes does not get to complain about deadbeats.

[marmar]

6. What a pile of dung he is.

nt

[Avalux]

8. Really? I'd like to look that man in the face and tell him a thing or two.

I'm a professional woman, have raised three daughters on my own and I'm a raging liberal. He can go fuck himself.

[JanBrady]

11. I'm sure Geithner agrees with him. Geithner's boss does.

[AlabamaLibrul]

14. No, he's a deadbeat. Fuck him.

No, I don't have anything productive to add.