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Misinformation in information: AIG Obfuscation of Facts, false premises for right information.

Marian Baginski|Tuesday, July 14, 2009

At the present time it’s known, that Secretary Gaithner knew in advance about bonuses to be paid by the Financial Products Group of AIG to its employees. Chris Dadd knew too. He was negotiated the payments between the Company and Administration. Edward Liddy agreed for bonuses in advance of the public fury and anger. AS “ad hoc” explanation, they gave: the fear of the law suits against Government costing more that bonuses. Does the explanation hold the ground? Are the Government lawyers, or AIG are knowledgeable as the other ones?

Benjamin. Heineman , Jr. known lawyer for the subject states as fallows ( WAshinghtonPost 3.19.2009) What possible reasons could there be to pay bonuses to the very people whose greed and misjudgments created untold liabilities in AIG’s credit default swap portfolio that brought down the company-leading to 80procent government ownership. Was it possible to come up with good faith arguments for lawyers to argue the bonus payments? As Heineman  stated “Surely, the law is not such an ass…. and on the likely assumption of the credible theory to get a court to order payment of bonuses from company they destroyed.  The second reason – retention of the very employees destroyed AIG is as incredible argument an s a first one. Even current management of AIG acknowledged that all the bonuses recipients could have been eliminated for cause and without bonus payment. Its worth to add that in crisis management for the senior leaders when the problem arises you own it, and you have to deal with it. Unfortunately, perilous condition created base on a ludicrous premise of potential law suit created legislative panic. And Congress passed the tax bill, trying to recoup the bonuses money. Written media,  commentators, bloggers did not pay attention to the preposterous possible law suit and its ludicrity, but they turn their attention to the passing the “panic’  law  to recoup some money .They took  an “easy „way,  instead of that the proper way fallowing the Politicians  explanation  the bonuses affair, and still  fear of a strange American legal system  was left intact. Marian Baginski 3.31 2009
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