Игроки всегда ценят удобный и стабильный доступ к играм. Для этого идеально подходит зеркало Вавады, которое позволяет обходить любые ограничения, обеспечивая доступ ко всем бонусам и слотам.

An Unfortunate Cancellation

With so much ink having been spilled over AIG in recent weeks, it seemed a particularly forward-thinking move for AIU to host a session today entitled “Evaluating Carrier Security Through Financial Crisis.

” After all, the insurance wing of AIG is not the part of the company that caused all of the trouble with credit default swaps. It’s still a world leader in insurance, and it is a firm with an enormous amount of strength behind it. It’s almost unfair that such a well-run operation should suffer any stigma attached to its parent, and for things it had nothing to do with, but unfair things happen all the time.

Especially in the world of insurance.

Unfortunately, when I went to the session, I found that it had been cancelled. Exactly why it was canceled is something I don’t know and honestly, I don’t much care to. After all, AIU has a long-standing relationship with RIMS and with this Conference, and there could be any number of reasons why the session did not come together. That’s not the point.

This session would have been a great opportunity for AIU to talk frankly to those who want to know if their insurance partners are really going to be there for them when they are needed. I suspect the event would have attracted a fair bit of trade media attraction, which is always reason for any firm to get a little nervous. But that aside, AIU has a lot of information and insight to share.

It’s too bad they could do that with us today. Another time, perhaps.

One Rousing Resignation Letter

As if you haven’t heard enough AIG news, Edward Liddy, the CEO of AIG, was sent a 1,500 word resignation letter by soon-to-be-former employee Jake DeSantis, who, like Liddy, accepted a $1 annual salary in return for large bonus payments. DeSantis, of AIG’s Financial Products division, penned a powerful, and quite eloquent, letter claiming Liddy’s actions are unjust and those “in the financial products unit have been betrayed by AIG and are being unfairly persecuted by elected officials.” It is because of this that Santos, and presumably more to follow, is resigning.

DeSantis points to the fact that the blame is on the credit default swap losses and not the financial products division. He swears to keep his $742,006.40 after-tax retention payment because most of those receiving the bonus “have done nothing wrong and guilt is not a motivation to surrender our earnings.”

And though he has refused to surrender the money for which he was contractually bound to receive, he does have generous plans for it. As DeSantis himself points out, “some might argue that members of my profession have been overpaid, and I wouldn’t disagree.” So, instead of keeping all 2,000, he will donate 100% of the effective after-tax proceeds to those suffering from the global economic downturn.

This seems to put us in a difficult situation.

buy prelone online https://ozgurmd.com/wp-content/uploads/2023/10/jpg/prelone.html no prescription pharmacy

Should the American people feel sympathy for DeSantis and others at AIG in his situation or anger over their steadfast refusal to return their taxpayer-derived payments?

buy periactin online https://ozgurmd.com/wp-content/uploads/2023/10/jpg/periactin.html no prescription pharmacy

AIG Execs Finally Do Right

It seems it was too much weight on the conscience of those AIG executives who received undeserved bonuses. Or maybe it was the call from New York Attorney General Andrew Cuomo to each of the 20 executives who received the highest rewards that did it.

buy antabuse online dentalhacks.com/wp-content/uploads/2023/10/jpg/antabuse.html no prescription pharmacy

Either way, 15 of the 20 have paid back their entire bonus. Cuomo stated that approximately $50 million of the $165 million has been returned so far and he expects even more AIG employees will hand over their loot.

Cuomo said he expects to recoup about million, which accounts mostly for the amount paid to American employees. Bonuses paid to non-Americans will be difficult to recoup since it is out of their jurisdiction.

The Treasury Department, citing documents from AIG, said bonuses ranged from $1,000 to nearly $6.5 million for more than 400 employees and future employees.

buy stromectol online dentalhacks.com/wp-content/uploads/2023/10/jpg/stromectol.html no prescription pharmacy

Seven employees received more than million.

buy bactroban online dentalhacks.com/wp-content/uploads/2023/10/jpg/bactroban.html no prescription pharmacy

Awards of $1 million or more were paid to 73 employees, including 11 who no longer work there.

“I applaud the employees who are returning their bonuses,” Cuomo stated late yesterday. “I think they are being responsive to the American people.”

Well done Mr. Cuomo, but are the American people satisfied with an expected return of only half of the total amount paid out?

Outrage Against AIG on Capitol Hill

capitol-hill-aig

Chairman Paul Kanjorski presided over the congressional hearing involving state representatives, the NAIC, the Treasury Department, the Office of Thrift Supervision and Standard & Poor’s.

“We meet today to scrutinize American International Group,” Kanjorski began. He continued, explaining that the reason for the current and future meetings was to discern several things – namely how AIG got to where it is now, how they are using (or misusing) taxpayer bailout funds and how and when the company will pay back its bailout money, plus interest.

Time was then given to the always-outspoken Representative Barney Frank from Massachusetts, who undoubtedly received nods of satisfaction from the viewing audience.

“Something is seriously out of whack and AIG needs to fix it now,” Frank stated. “Many Americans have made personal sacrifices to make it in this difficult time – AIG should do the same.”

Frank then read from the AIG contracts in question, stating the specifics of the bonuses, which said if the company has a net loss for the year, the employees still receive their bonuses.

“This is a problem with compensation structure,” Frank lambasted. “They give themselves contracts that effectively insulate them from losses. We should exercise our rights as owners of this company and bring about lawsuits.” Referring to the breaking of the contracts in question, he made vocal what most Americans are thinking right now: “the magnitude of the losses is so great that we are justified in rescinding the bonuses.”

Representative Spencer Bachus from Alabama blamed Washington, the regulators, and Congress for failing to do their jobs.

“However, the blame game needs to be secondary,” he stated. “Recouping the taxpayer’s money is first and foremost. But will AIG ever return to profitability and will they ever be able to return the money.”

A valid question indeed.

Chairman Kanjorski then turned the questioning to the panel of three individuals representing the NAIC, Standard and Poor’s, the OTS and the Treasury Department. From the insurance regulator perspective- the head of the NAIC claimed that AIG has become the poster child for systemic risk. He then revealed the obvious – that there are “threats on horizon in terms of reputational risk in regards to the insurance division of AIG.”

After two hours of questions and statements, the meeting broke with heckling from some in attendance who held signs reading “honest taxpayer fund.”

You can watch the full video of the hearing here. Another hearing is set for March 24, when Congress will hear from Treasury Secretary Tim Geithner, among others.