AIG's Greenberg: Why Should Taxpayers Get My Money?

[majorglenn]

What an ass...

"Why should I give back...?"

That`s also typical american. FULL of jewish crime.

Bernanke, Paulson, Greenberg and all the others.

They`re gettin` richer and richer each day and nobody cares about.

Another reason why US and A MUST get into war with other states cause of their own totally wrong monetary-system.

[FeatureLengthFilms]

Livin' Large

[chgosatrap]

My cousin is a treasury paralegal for JPMChase, and she said you need an attorney to handle all the paperwork (which she had).  So I don't know if people didn't have attorneys, or if the mortgage lenders talk like used-car salesmen or what.

Also, there have been MANY stories of real estate companies doing predatory lending, and some places were shut down. This was long before the crisis became public.

[sommeflame34]

Jewish Bernie Madoff is a small fish he tuck only something like 50 Billion.

Well, we have a few bigger fish of the same breed! AIGs Greenberg, Chairman Bernanke and Treasury Secretary Henry Paulson that spend $500 Billion to $1 Trillion and nobody know how it was spent? I wonder how many gotten rich on this deal?

[Cluby2]

Chaffetz is an idiot.

[dylanbryson]

the top 5 banks are responsible for 98% of the derivative bubble.

[Cheshirecatmeow1]

When I look at Chaffetz, I can only think about how he acted on Colbert Report.

[Truthteller84]

Sarah Palin's sister-in-law was arrested for burglary in Alaska - and allegedly brought her 4-year-old along for the heist ~ Google it for the full story

[sugarpuddin88]

USA second only to Mexico in Poverty & education - New story today: 1 in 10 Americans on food stamps

America bankrupt:

102 trillion for SS & medicare

25 trillion for TARP & bailouts

53 trillion plundered from other trusts

Every single American man, woman & child owes over $600K in FED Gov debt

The US dollar will collapse within the next 1 to 2 years

Longest period of time USA has gone without bombing someone: 2 years

Americans have the government they deserve

[HoochieKoochie]

Congradulations on creating the purest kind of propaganda and posting it in a youtube comment. Random numbers listed next to each other.

These figures aren't enlightening your point is scattered and mindless.

[PoopyPaul]

Arrogance at its best, we should be tearing D.C. apart by now.

[insanic1]

jews...

[a7241982]

Hang the jackass. It' s not his money anymore. We own the company now and his stocks. OR atleast 80 percent of them.

[dolphin2k2]

Chaffetz is an idiot. They should have listen to Greenberg's advice for the bail out. Could have saved alot of money.

Instead of this populist outrage at the companies, we should be blaming the dead beats who took out the loans and default.

Of course its easier to blame everyone but ourselves...

[kusotarre]

Except you aren't blaming "ourselves", dolphin2k2, you're regurgitating false talking points so you can blame poor, black people. Don't pretend otherwise.

The notion that a few million poor suckers could bring down the world economy is blatantly ridiculous.

Do you even know what a CDO is? A CDS? An SIV?

Do you understand the ramifications of having unsound, unregulated, unsupervised assets leveraged at over 30 to 1?

The answer, of course, is that you don't, because you are an ignoramus.

[dolphin2k2]

You sound more like the one regurgitating the media's talking point.

Do you know what is the underlying asset for these instruments?

That's right, RE mortgages. If everyone pays their mortgages, where would the problem be?

Btw, I never mentioned race. A dead beat is a dead beat, if they are white, yellow, black, or green.

[F33bs]

Because the banks wanted mortgages to sell, despite the fact that they were subprime.

It's not like the banks said 'Oh shit here we are making millions off these people, someone stop me!'

They did it on purpose.

[F33bs]

Yeah fuck people for wanting to have a home to live in.

It's those investment bankers and hedge fund managers who are really innocent, even though they knowingly created a fraudulent system and then actively sought subprime mortgages.

But you're right, it's the fault of those goddamn poor people who were tired of living in housing projects for their whole life.

[dolphin2k2]

Oh stop the cry baby act? Who put a gun to the heads of those ppl to buy a house? Why can't they rent until they saved enough?

You sound like like those idots that knew smoking cigarettes can kill them but kept smoking anyways. Now that they have cancer, they wan to sue the tobacco company.

Its time for ppl to grow up and take some responsibility. You have no business buying a house if you do not understand the financing terms.

[F33bs]

Not everyone who agreed to a subprime loan was poor first of all, a lot were regular people who were simply duped by the banks.

If you think the only people at fault here are the regular people you are an idiot to the extreme.

The real problem here is that Wall Street increased demand for subprime mortgages in the first place, which was the catalyst for everything else.

[dolphin2k2]

I am not sure how they were "duped" by the bank. The terms are drawn out in the contract signed. If the borrower did not understand the terms, they should find out from their lawyer before signing no?

I think they saw that housing prices were going up and wanted a piece of the action. Since many did not put much down, they did not have much at stake anyways.

[jjrglobal]

Exactly right dolphin. This poor little me, I was duped, is just a cop out. I'm not buying it one bit

[sugarpuddin88]

The privately owned FED Reserve bank seduced other bankers to hand out free money for bad ideas

Consider that over one Quadrillion dollars of fake derivatives flowed back and forth between banks & borrowers - All sponsored by the privately owned FED Reserve Bank

The FED caused 3 depressions in the 30s, (google how their flood & retraction of currency correlates precisely with Corp failure & unemployment)

The FED literally fed & funded the crisis

[jjrglobal]

You have to sign fifty pages to get a mortgage. These people can't read? Or maybe they didn't take the time to read. In either case the banks or mortgage companies explain in great detail about mortgages. You would have to be retarded to not know what you were getting into. It's called personal responsibility, something this country has been lacking for a long time.The real problem is government demanded by law that subprime loans be written. Community Reinvestment act. WS is innocent

[F33bs]

It wouldn't have mattered, the demand for subprime mortgages already permeated Wall Street. CRA or not, your point is moot and thus irrelevant.

The argument against homeowners is tired and stupid, I personally knew people affected by subprime loans. The weren't stupid, they just wanted a house for their family and figured it wouldn't get out of hand. Not everyone is a financial expert.

Yet Wall Street crashes the whole system and they get off scott free. Why not blame the investment banks?

[Joe402]

"we should be blaming the dead beats who took out the loans and default."

you dumb

[dolphin2k2]

Nice argument. I give up, I just don't have a response to your brilliant point.

[Joe402]

Economic crisis? Let's blame the poor, not the rich! AAAAAAAAAAAAAAAAAAAAAAA

[dolphin2k2]

I am blaming the dead beats that took out a mortgage and default. Could be poor, could be rich.

Are you one of the dead beats?

[Joe402]

"Are you one of the dead beats? "

Yes, I am one of them. I am coming to your house and stealing your tax dollars so I can buy a Cadillac.

[sethcat99]

o fuck you!

[Maplesyrup41]

This fucker is responsible for the crisis

FUCKING FUCKER!

[buffalosouljah18]

This page is full of liberal Obama cock suckers, though.

[RichardCoryJD]

WORDS WORDS WORDS WORDS WORDS

[FUzupf]

WOW!  a Utahan that actually cares. From Provo even!!

[drunkenbob2]

My money, my precious, mine mine mine mine mine mine, all mine!!!!

[ezrahill09]

no no no no....

the fucking bombings come from the ass holes that rape our currency and make the rest of the bad desisions.

[sugarpuddin88]

USA second only to Mexico in Poverty & education - New story today: 1 in 10 Americans on food stamps

America bankrupt:

102 trillion for SS & medicare

25 trillion for TARP & bailouts

53 trillion plundered from other trusts

Every single American man, woman & child owes over $600K in FED Gov debt

The US dollar will collapse within the next 1 to 2 years

Longest period of time USA has gone without bombing someone: 2 years

Americans have the government they deserve

[jadlerhalofan]

its true that alot of americans are on food stamps. my family being one of them.

social policy is a failure here which disgusts me as a new adult.

[Bartleo84]

You're wrong, America still has the strongest economy of the world and it will recover. It's too easy for you to jump on the gloomy bandwagon and spout a bunch of ridiculous numbers that you can't back up. You made a terribly stupid comment, I hope you don't really think that way.

[mikebee02]

Jeez. How long does it take to sharpen a guillotine? That fat cat needs a little off the top, and I'm not talking about a haircut.

[Prophetess7]

What money? LOL

[bleunt]

Haha, yeah. Made me laugh. Instant classic. :D

[jmrden]

greenberg, thats an Irish name right?

[Osoprincipal]

Sounds...JEWISH! (completely kidding but if your offended....go fuck yourself >.>)

[sshuck]

Yeah, and his interrogator, Chaffetz, is Breton.

[milkgodnl]

AIG's Greenberg exemplifies all that is utterly contemptible of their ilk ..

.. financial predators!

[MadHacktress]

The reaction of the gallery is awesome. The guy on the left who starts to frown and the woman on the right who was, until this point, reading pulls her head up to, no doubt, mouth the words, "what the f---"...

These guys are pretty giant morons.

Unfortunately the bigger morons may end up being the members of Congress if they dole out any more of your money... and anyone who votes to put them back in office next November.

[burntonion05]

Tar and feathers would be more like justice.

[chunkybutt420]

we need to save our tar for future heating oil :(

[ilovesdgc]

Even if we make PROFIT on all of these bailouts/investments the taxpayer will never see the difference.

When was the last time your taxes went noticeably down?

[Mysticomega]

OMG did he just say that!?!?

[shidokan98]

What??? Who?? Where am I?? Who said that??? LOL

[snipzor]

"Jump you fuckers" is essentially the outcome of what seems to be populist outrage, regardless of political affiliation (Libertarians seem to disagree with it). For once I am with the populists, in this case the assholes who have run these companies to the ground don't "Get It" and should be punished for their continuation of these monetary mistakes.

For once I am with the crowd who are holding up the sign "Jump you fuckers", only this time I'll help push.

[Research0digo]

to Snip

For once?

I am 53 years old, and I have been a Populist/Independent from before I could vote.

Populists believed, and rightly so, that the value of silver should always be tied to the value of gold (28 to one I think it was - of course now it escapes me) and as it is the only true, lawful money as mandated in our Constitution, this should still be the case.

Now days I'm with the Anarchists. Which has nothing to do with blowing anything up, either.

[snipzor]

Absolutely for once. Populists are like environmentalists, they are impulsive and generally have no clue or understanding of the situation. But now the situation is clear, and I support the cause.

[GBTRU]

Wow, what a complete asshole, you know this guy is a republican

[ver506]

Yep, probably....

[dogstar7]

"Smithers, release the hounds!"

[kjgear]

LMAO!!!

[CynicalSavior]

After a comment like that... you know damn well that's how all those assholes feel about us "little people".

So someone please explain to me why we shouldn't drag them out in the street and hang them.

[OlivierdeAthos]

"You can go out in the street and start taking money there. Same thing."

I agree, it IS the same thing. We already emptied the pockets of regular taxpayers and put it into yours. If it's the same thing, then we should just as easily be able to take it back from you, and give it to its rightful owners again.

[dmelkumo]

sick situation...we cant have them bankrupt , cuz it will cuz lots of troubles for banks who invested money in AIG (bought insurance) , but at the same time we cant just sit and watch what those fuckfaces are doing. If it would be up to me, i would mandate all of the executives to eat 10 grams of horse manure for every grand they get from us

[3star2nr]

"What money".

you asshole fucking bush I say let the fuckers burn

[PersonalJesus348]

wow...

[sugarpuddin88]

Today's news story: AIG top executives received 3.7 billion in bonuses the very same time they were stealing 15 billion from the American tax payer

Bankruptcy would have meant they had to give all that money back!

Why didn't they have to file for bankruptcy?

[sugarpuddin88]

USA second only to Mexico in Poverty & education - New story today: 1 in 10 Americans on food stamps

America bankrupt:

102 trillion for SS & medicare

25 trillion for TARP & bailouts

53 trillion plundered from other trusts

Every single American man, woman & child owes over $600K in FED Gov debt

The US dollar will collapse within the next 1 to 2 years

Longest period of time USA has gone without bombing someone: 2 years

Americans have the government they deserve

[mahyarmohaghegh]

hahhahah

"wat money?!"

hahahahha go get your own money hahahahhaa

fully robbed american tax payers

[JayGottiII]

wow...

well, there ya go...

[CarryANation]

Greenberg is an indicted FRAUD and he was the person behind AIG involving itself in FRAUDULENT "re-insurance"

He should be in PRISON

[Richardgwm]

These criminals need to be put to death.

[dogstar7]

Death is too good for them.

Take their money and put them to work in one of their companies for the wages they offer! That would surely break their spirit and ensure their families will never again see prosperity or happiness again!

[dogstar7]

Parrot the tropes, fascist scum. Man, stupid crackers who can't use caps and punctuation properly piss me off!

[dogstar7]

"By the way, I am not white. And you are an idiot."

If you had stayed awake in high school you would have learned not to begin your second sentence with a conjunctive.

You would have also learned that Socialism advocates the means of production and profit in the hands of the worker, whereas the Fascist model calls for all nationalized monopolies to be run by private enterprise.

A subtle difference, to be sure, but a significant one. Thus ends your remedial lesson.

[taoofmichael]

I suppose you think you are a capitalist, and the USA is a democratic, capitalist, country.

Please read Adam Smith and Thomas Jefferson.

The US economy is NOT capitalist. If it was, there would be no conglomerates TOO BIG TO FAIL. Corporations who take bad risks with their own capital would LOSE IT. That is capitalism.

Progressives believe in true democracy, and REAL capitalism. REAL competition. NO MONOPOLIES. Read Adam Smith and Thomas Jefferson.

[OlivierdeAthos]

Agreed. We've had 'corporatism' disguised as capitalism for a long time.

[Karlfalcon]

Don't forget consumerism.

[Landrew120880]

Are there any Gentiles on the board of any of these corps?

[mediamoxy]

Soooo out of touch.... urge to form one more angry mob rising....

[KataVideo]

Break up AIG. Break it up NOW. Do not wait, stop holding hearings. Initiate emergency anti-trust TODAY.

[taoofmichael]

Right on KataVid! Doesnt anybody get it? Too big to fail? What? How is that capitalism? Hasnt anybody actually read Adam Smith? What about competition? -- that is the way the market is supposed to regulate itself. If you have corporations too big to fail, you have no free market. Duh.

[hurgle]

Too big to fail is too big to exist

[SquallCloud]

Word.

[U2Berror]

Greeberg owns a separate arm of AIG and had nothing to do with the games that AIG and the new CEO were pulling off.

[Skurgefaust]

its all good , everyone is having a blasty blast blaming Mr. Obama for everything. He can take it and he just brushes it off and continues to work for change and the American people. If your unable to believe that, I hope theres something that changes that perspective. Having a positive outlook is one of the best ways to improve things. Think about how emo we've all been with Hairy Bush in office and look where that got us. (P.M.A. Positive Mental Attitude)

[gallomex13]

Let AIG fall I mean AIU or whatever the feel like calling the fucking corrupt greedy fagots.

[WhoRonPaul]

There's not enough information in the video to form a valid opinion worthy of a comment that would be a productive part of any debate..

[MrLesWhite]

I don't get it and besides he never says what the title quotes...however, if he is saying that he gets to keep his bonus money and the taxpayers shouldn't get it back then that is criminal.

I am guessing he took the AIG bailout money and started a investment 'vehicle' to hide it from the governmental taxes which is sickening if it is true

[WSW55]

I think Michael Moore said it best with STUPID WHITE MEN.

[buffalosouljah18]

The government shouldn't interfer with companies.

[mrbadguysan]

Companies shouldn't interfere with our government.

[buffalosouljah18]

Samething.

[mrbadguysan]

Bullshit!

If it wasn't for crybaby capitalists like Greensburg, legions of well-paid lobbyists, and our free-market buddies on the hill and abroad, we wouldn't even be in this mess.

[buffalosouljah18]

Obama should have let them fail. It's Obama's fault, idiot.

[mrbadguysan]

It's Obama's fault that a Republican led congress, and a pack of democratic turncoats repealed decades worth of regulation in 1999? I don't think so.

Let me ask you something. If the top ten banks on planet earth, of all time, failed within the span of a year, do you honestly think everything would just be sunshine and butterflies?

How long would we, you, me, the American public at large be out in the sticks? A year? Two years? A decade? A life-time?

Personally, I'd rather not find out.

[buffalosouljah18]

And what the hell does that have to do with this AIG mess? Lmao, dude, you're just looking to get off by arguing. Obama bailed out a company that was failing and looked what happened. I'm a democratic supporter, so doesn't feed me that liberal crap.

[mrbadguysan]

I did look at what just happened, the Dow's back to 8,000. What's your point?

I don't care what your political affiliation is. I asked you a question, do you have an answer?

[buffalosouljah18]

''Let me ask you something. If the top ten banks on planet earth, of all time, failed within the span of a year, do you honestly think everything would just be sunshine and butterflies?''

AIG isn't a bank, moron, that's why I asked you what does that have to do with AIG.

Your question is invalid. I'm talking about bailing AIG.

[mrbadguysan]

AIG is bank you dumb fuck.

It's a Bank (both commercial and investment), an insurance company (industrial and commercial, largest on Earth), a provider of mutual funds, and a trust.

It operates in 130 countries, and is the 18th largest company in the world today.

Now, if it disappeared tomorrow, along with nearly every massive, barely regulated financial institution in the country, what do you think would happen? Answer if you've got a pair.

[Falsare]

What have happen to every big company since the dawn of companies.

But let me answer your question with the flipcoin question:

Now, if it didn't disappear tomorrow, along with nearly every massive, barely regulated financial institution in the country, what do you think would happen?

[mrbadguysan]

Um, I dunno, it would get parted out and sold to a market that's experiencing an upswing, as opposed to being dumped on a failing economy?

The problem with your question is the last time something like this happened was the great depression. Then, like now, "creative destruction" just becomes destruction.

[buffalosouljah18]

It's not a important exclusive bank, dumbass.

It's failing, therefore it isn't needed. That's capitalism, retard. Let the failing companies fail and create new ones, inbred. Do I need a pair to answer a question? Lol, your ideal of courage is fucking stupid and halarious. Hey, grow a fucking brain.

[mrbadguysan]

Grow a pair.

Just admit that you don't want big scary Obama to take whatever pitiful excuse for an income you have and give it to somebody else.

Or that the financial repercussions of so man failures are either unknown to you, or that you don't care.

They would still be a dumb arguments, but at least you'd be honest in making them.

[buffalosouljah18]

First of all, dude, you must have some obession with balls if you keep telling me to grow a pair.

Second of all, I'm less than middle class, so he can't take shit from me.

Third of all, you just realized that you're wrong, and that I am right. I don't blame Obama for everything. I hope the man does well, however, if I were to be dishonest I would agree with everything he does, making you you dishonest or stupid for swallowing everything you hear.

[Bunnicula71]

A lot of people don't get that AIG is a type of monster that cobbles together EVERY legit/semi legit/sketchy financial function that has ever been invented. Part fish, part dog, part lizard, 1/8 human, and smidgw of fruitbat. whatever it is, it ain't breathing good no more eh?

the term "unwinding" barely scratches the surface, considering the economist who explained it to me didn't actually half understand any of it.

[mrbadguysan]

Seriously, it's like people people think AIG is some kind of mom and pop store down the street. "If it goes belly up, so what?", they say.

[somecomputergeek]

"AIG is bank you dumb fuck."

AIG is an insurance company, not a bank. Go to their website (aig. com) and look it up yourself.

[mrbadguysan]

AIG has hundreds of holdings, among many of them are banks.

[somecomputergeek]

AIGs financial services technically qualify it as a bank, but it's a small portion of the services that it offers and is irrelevant.

[buffalosouljah18]

Yes, that's what I was talking about before, however, the idiot thought it was one of the top 10 important banks.

[mrbadguysan]

Do you know what AIG even is?

It is, or was, the largest insurance company in the world.

[buffalosouljah18]

Look below and see if I know. =)

[KataVideo]

mrbadguysan, "If the top ten banks (failed).."

yes, EXACTLY while certain people are stalling and dragging everything out, check this out from the nyt: "Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years, and making it the world leader in electric cars and buses after that."

we're mired. they're making plans. conservatards can't see that.

[OlivierdeAthos]

We already tried the method of not insuring deposits, not regulating bank mergers, and not rescuing banks when they fail, and it resulted in the Great Depression. I can't believe people are still trying to make the case that the Great Depression was caused by TOO MUCH government interference. How many times will we have to watch this re-run of a really bad movie?

[Research0digo]

To Olivier,

You had me with you until this comment.

The (earlier) Great Depression was not 'caused' by anything. It was manipulated into happening.

SAME as this one - this one will be our end as a sovereign nation.

Investment Theory of Politics:

"Elections are moments when groups of corporations coalesce and invest to control the state." (further their agendas.)

Tom Ferguson, U Mass, Boston

[gallomex13]

AIG was in trouble before Obama took office and and the first bail out came from Bush so you are just retarded. If AIG just falls they take down huge companies down with them. Meaning the complete destruction of your Capitalist America dumb fuck. You could even loose your job and any chance of getting Loans. USA will become Mexico.

[buffalosouljah18]

Hey, dumbass, so Obama makes the same mistake and bails AIG also? You're dumb as hell if you think if it's okay to follow monkies. Both Obama and Bush are puppets. Look at what Obama did, idiot. You just realized that your President is a failure for using the tax payers money to bail out a failed company.

[mrbadguysan]

You're a moron. Tax payer money gets used to pay companies on a daily basis. Now that it's being used to salvage an economy that we pissed away (some more than others), you have an objection?

[gallomex13]

Its just easy for bitches like you to blame one person when we know this was a corruption bigger than just a President. And technical they didnt use my money they printed money out of no where like magic. Wall street is to blame for their greed, Blame the economist for the economy.

[avalsonline]

do you know what wold happen if we let the banks fail?

[somecomputergeek]

Yes, the credit unions would rise up and take the place of the banks.

[buffalosouljah18]

Nationalize the banks. The CEO's spend tax payers money to go on jets and yahts. Where's the change?

[KataVideo]

"Obama should have let them fail. "

it happened on bushpig's watch. Obama knows we're already invested in this shit. if they fail, our money spent by bushpig definitely will have been wasted. But I don't see the point of further support unless these companies are heavily regulated and broken up by anti-trust. if they're too big to fail, they're too big.

[youlikebigbuttsandyo]

So...wait..lemme get this straight...you want government to not interfere with business...while ordinary people like you and I are losing their jobs...while these executives who work for dying companies are enjoying private planes.

I see.

If you're Steve Jobs, then you can buy a private plane. Cuz Apple is fuckin making huge profits even in this recession. But if you're Greenberg, you're risking people's jobs.

[siegristrm]

I don't agree with govt interfering, which is why these business' shouldn't have been given money (from taxpayers) in the first place. We got kinda screwed.

[buffalosouljah18]

I'm Steve Jobs. =)

[Pleblian]

mrbadguysan, You're right. I grow tired of the "free market" mind set touting their nonsense.

What people fail to see is, it was because of deregulation that allowed AIG to become more than just a bank, they became a "gambling casino". By buying up mortgage dept, were an investor could bet for or against it's value, and that's why they call it a "hedge fund".

Now these companies want the tax payer to pay off the gambling dept because if we don't they will hold the economy hostage.

[taoofmichael]

If you have conglomerates that are TOO BIG TO FAIL -- then you have no free market.

Adam Smith rolls over in his grave, every time some Republican says the words "free market."

[Hereticbooks]

That was amazing....

[snipzor]

Shut up libertarian.

[WKaliberr]

Fucking crook should be in jail