Page 106 - Aig News Today

Its barely five years since the financial sector brought about the worst economic collapse since the great depression. and with newly released economic indicators for unemployment claims to revise gdp numbers showing that the recovery is ongoing but still sluggish one might expect a little humility from those responsible but sadly that would be to expect too much. consider the case of robert benmashay and now the ceo of aig. his firms name is now synonymous with corporate bailout and yet in a re...

The salaries. i really would put a lot of the blame on the boards. they are the ones who can actually change the compensation. theres a compensation committee. they vote on the ceos pay. unfortunately, a lot of the boards we have right now, the chairman of the board is also the ceo of the company. and that dynamic is not creating enough independence for the board to be able to vote against the ceos salary. >> well, im sure you saw these comments recently from the ceo of aig talking about the pub...

Haves dont understand what the have notes are going through and even feel besieged themselves. >> like i say, ive just come from the perspective of being in courtrooms. you see this class kind of distinction and this class warfare played out almost every day in civil courtrooms where people are fighting about money all the time. >> you write about this all the time. could it all happen again? the same kind of thing? >> absolutely. what was our solution to the crash in 2008? we took all these cor...

Country into a ditch. theyre a little different. and the fact that the ceo doesnt know that i think makes him not qualified to be a ceo. i mean, look. it is the government that charters corporations. the government says that a corporate charter is an instrument that that corporation relies on to exist. and im hoping that the people who are the shareholders of that company and the top management are asking themselves a very simple question, which is, is this the right guy for our company to -- is...

Most people on kick-start or india go go. they raise less than $10,000. its really a way to get your message out to the people that you already know to leverage your own network. >> how does he decide if its the right way to go? >> he needs to figure out if this is the right marketing machine for him. to strategize, putting out an x amount of product that he can deliver the perks. when can he deliver it by, the dates. and then there are websites that can help you determine if this is really the ...

I cringe everytime i hear someone says the bailouts work. we gave aig billions of dollars and in the amount of time they wouldnt it to work, what makes me afraid -- >> neil: set the motion this idea that, whether you are too big to fail or not you can always know the government has got your back. >> we have enshrined that into our economic system, and to our detriment, because what it does is actually encourage businesses to take the big risks that cause the big crisis in the first place. my goo...

The secretary of the treasury from the largest institutions in america. what happened with aig and other institutions that cannot happen again. can you not if you are overly indebted receive help from the federal government paying your debts and stay in existence. >> heres the reality, maria bartiromo. you look at the favorability of wall street firms still very negative, 42% on the negative side in our latest poll. as i talk to ceos this week and bankers, they say, look, one of the issues we ha...

America. what happened with aig and other institutions that cannot happen again. can you not if you are overly indebted receive help from the federal government paying your debts and stay in existence. >> heres the reality, maria bartiromo. you look at the favorability of wall street firms still very negative, 42% on the negative side in our latest poll. as i talk to ceos this week and bankers, they say, look, one of the issues we have to keep so much capital in reserve now theres not enough cap...

More than 59. was what was the cause of all of this? take a look. >> all of this fallout from what happened last night in new york, as lehman brothers filed for bankruptcy protection just after midnight, with $613 billion in debt on its books, lehman is by far the largest bankruptcy ever in this country, dwarfing world cam back in 2002. >> so lehmans filing for bankruptcy the night before wasnt the begin of our financial meltdown. that was fueled in part by the implosion of the housing market th...

Nuisance abatement activities. we have homes that have rats in them. we have homes that have broken windows and kids are having parties in them. imagine if you lived next door, what that is doing to your property value. its pulling it down. is the insurance company going to continue to insure you when you live next-door to a risk? and again, these are middle class, working class, african-american, latino neighborhoods that were comparing to white middle class and working class neighborhoods. >> ...