American International Group is preparing to pay millions of dollars more in bonuses to several dozen top corporate executives after an earlier round of payments four months ago set off a national furor.
The troubled insurance giant has been pressing the federal government to bless the payments in hopes of shielding itself from renewed public outrage.
I'd say, I've got your blessing right here.
The greed of Wall Street predates Gordon Gekko, as Matt Taibbi hilariously and pointedly nails Goldman Sachs in Rolling Stone, who claims that it "has engineered every major market manipulation since the Great Depression," and lays out:
The history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled-dry American empire, reads like a Who's Who of Goldman Sachs graduates. By now, most of us know the major players. As George Bush's last Treasury secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously self-serving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton's former Treasury secretary, spent 26 years at Goldman before becoming chairman of Citigroup — which in turn got a $300 billion taxpayer bailout from Paulson. There's John Thain, the asshole chief of Merrill Lynch who bought an $87,000 area rug for his office as his company was imploding; a former Goldman banker, Thain enjoyed a multibillion-dollar handout from Paulson, who used billions in taxpayer funds to help Bank of America rescue Thain's sorry company. And Robert Steel, the former Goldmanite head of Wachovia, scored himself and his fellow executives $225 million in golden-parachute payments as his bank was self-destructing. There's Joshua Bolten, Bush's chief of staff during the bailout, and Mark Patterson, the current Treasury chief of staff, who was a Goldman lobbyist just a year ago, and Ed Liddy, the former Goldman director whom Paulson put in charge of bailed-out insurance giant AIG, which forked over $13 billion to Goldman after Liddy came on board. The heads of the Canadian and Italian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange, the last two heads of the Federal Reserve Bank of New York — which, incidentally, is now in charge of overseeing Goldman.
But there's three greedies in the title of the post, and the last one for tonight is a couple, Doug and Cindy Hampton, which is increasingly looking like an Indecent Proposal variation where the reveal is looking like Doug pimping out his wife to Sen. John Ensign (R-NV) for a long period of time in hopes of the big score:
Y'know, a good couple is a good team. Working together towards common goals. And not too possessive -- his wife was bending the marital contract for nine months (December 2007 - August 2008).Senator John Ensign’s wealthy parents gave almost $100,000 to his former lover and her family, ostensibly out of concern for their welfare and as part of a “pattern of generosity,” his lawyer disclosed Thursday...
...“After the senator told his parents about the affair,” the statement issued by Mr. Coggins said, “his parents decided to make the gifts out of concern for the well-being of longtime family friends during a difficult time. The gifts are consistent with a pattern of generosity by the Ensign family to the Hamptons and others...
...The disclosure of the $96,000 gift came a day after Doug Hampton said on a Las Vegas television program that Mr. Ensign had paid Mrs. Hampton more than $25,000 in severance pay.
On the Ensign side, isn't he getting a little old for his folks to be bailing out his adultery?
Grifters, grifters everywhere. Wall Street and Washington.
Who could have predicted that?
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