Monday, March 16, 2009

AIG In The News: Kucinich Calls For Cheney Investigation; AIG Hits New Record High For Criminal Arrogance And Cheney Is In Full Joseph Goebbels Mode.

AIG In The News: Kucinich Calls For Cheney Investigation; AIG Hits New Record High For Criminal Arrogance And Cheney Is In Full Joseph Goebbels Mode.


 I suggest we erect a Memorial Monument To AIG in the center of the DC Mall as a reminded and motivational piece with $timulu$ money recovered from those arrogant bastards!


It should be Gin Clear by now that scales of Justice in this country have become meaningless.  Martha Stewart was arrested, prosecuted and jailed; Madoff will be going away and the criminals guilty of premeditated Constitutional shredding, war crimes, genocide, lying prying spying and every other affront you can list to decency and integrity in government are running around loose and running off at the mouth. AIG has literally thumbed its nose at the world and everyone they have economically crippled.  I am so tired of saying this that I could scream.  Get in there, seize, open the books, expose, indict, prosecute and send about two dozen executives to prison and recover every cent of hubris spent bonus and perk money, and a whole load of financial institutions will quickly, and mysteriously find a magic way to correct their financial ships before one Federal examiner can get in their doors!  You see the problem is Martha and Madoff are not part of the system.  They are independent crooks; AIG is not.


And another thing; If Andrew Cuomo nails any of their asses to the barn door in New York he will be elected to anything he wants and won’t need very much campaign money to run!



"New York Attorney General Andrew Cuomo has issued a subpoena to American International Group Inc. seeking a list with the names of executives receiving bonuses," reported Albany Business Review.

"'We had given AGI up to 4 o'clock today to provide the information on the latest round of bonuses that they paid out,' Cuomo said. 'Four o'clock has come and gone.'"

"During a conference call with reporters, Cuomo said the subpoena had been issued 'as we speak.'"

"In the letter to AIG's CEO Edward Liddy, Cuomo said he was disturbed to learn over the weekend of AIG’s plans to pay millions of dollars to members of the Financial Products subsidiary through it’s Financial Products Retention Plan."

AIG Faces Pressure From Obama, Subpoena From Cuomo on Bonuses Bloomberg


VIDEO: Hersh: Cheney Ordered Liquidations - Zagreb,Croatia
Kucinich is known to the wider public for his demands for the impeachment of Dick Cheney in 2007, as well as the impeachment of George W. Bush in July 2008. ...


Call It Torture
Washington Post - Washington,DC,USA
'It's clear that senior officials were warned from the very beginning ...... From watching online the SenateJudiciary Committee hearings on torture and ...


Kucinich requests investigation into 'executive assassination ring'
Raw Story - Cambridge,MA,USA
They do not report to anybody, except in the Bush-Cheney days, ... In April 2007, he filed an impeachment resolution against Vice President Cheney over ...


The Letter: Kucinich Requests Investigation into “Executive Assassination Ring”


Kucinich Calls For Congressional Investigation Into Cheney ...
Prison - USA
Democratic Congressman Dennis Kucinich (D-OH) has called for a formal ... as were articles ofimpeachment against President George W. Bush in June 2008.


Kucinich Calls For Congressional Investigation Into Cheney “Assassination Unit”


Congressman says Hersh claims should be subject of formal probe

Steve Watson
Monday, March 16, 2009


Democratic Congressman Dennis Kucinich (D-OH) has called for a formal Congressional probe into allegations by investigative reporter Seymour Hersh that former Vice-President Dick Cheney had his own SS-style political assassination unit.


Kucinich made the call Friday in a letter to Chairman Edolphus Towns of the House Oversight and Government Reform Committee which has been published on the Congressman’s website.


Kucinich explains in the letter that, “Mr. Hersh made the allegation before an audience at the University of Minnesota on Tuesday, March 10, 2009. He stated, ‘Under President Bush’s authority, they’ve been going into countries, not talking to the ambassador or the CIA station chief, and finding people on a list and executing them and leaving… It is a special wing of our special operations community that is set up independently. They do not report to anybody, except in the Bush-Cheney days, they reported directly to the Cheney office. . .Congress has no oversight of it.’”


“If true, these operations violate longstanding U.S. policy regarding covert actions and illegally bypass Congressional oversight,” Kucinich adds. “Hersh is within a year or more of releasing a book that is said to include evidence of this allegation. However, we cannot wait a year or more to establish the truth.”


The claims were made by the Award-winning New Yorker writer last Tuesday when he told a University of Minnesota audience “After 9/11, I haven’t written about this yet, but the Central Intelligence Agency was very deeply involved in domestic activities against people they thought to be enemies of the state. Without any legal authority for it. They haven’t been called on it yet.”


Hersh then went on to describe how the Joint Special Operations Command was an executive assassination unit that carried out political `assassinations abroad. . “It is a special wing of our special operations community that is set up independently,” he explained. “They do not report to anybody, except in the Bush-Cheney days, they reported directly to the Cheney office. … Congress has no oversight of it.”


In our exclusive story last weekend we detailed how the assassination unit was not a creation of the Bush administration or Dick Cheney. The Joint Special Operations Command, has in fact been active for decades, has been deployed domestically in the U.S., has killed U.S. citizens, and continues as an integral part of Barack Obama’s expanded wars in Afghanistan and Pakistan.


CNN Political Ticker: All politics, all the time Blog Archive ...
By rsinderbrand 
Dick Cheney is no patriot, he is a complete disgrace to the United States of America. Jim Hall, March 15th, 2009 10:13 am ET. Chaney, Bush, Rice, and the whole team need to be impeached, tried for war crimes, and then to prison or ...
CNN Political Ticker -


CNN Political Ticker: All politics, all the time Blog Archive ...
By rsinderbrand 
As for Cheney, I don't need to add to other comments other than to say that Bush and Cheney should have been impeached, tried for treason and war crimes, and duly executed when found guilty. As for "Conservative", someone who seems to ...


Torture Revealed Yet Again |
By davidswanson 
As with the evidence that Bush, Cheney, and gang intentionally lied us into a war, or the evidence of illegal and unconstitutional spying, each time a major new piece of evidence of torture emerges, it is impossible not to hope that this is the one .... Investigations substituted for impeachment for two full years. Actually holding a "truth and reconciliation" commission as a substitute for prosecution would be counterproductive, as argued by Jonathan Turley, Peter Dyer, ... - The Aggressive... -


The Only Thing We Have to Fear Is…Cheney - The Seminal ...
By Chris Edelson 
What would Vice President Cheney have said if someone outside the Bush-Cheney cabal had dared to challenge his wisdom? I think the would-be critic would have been lucky to have gotten off with a patented Cheney snarl–more likely, ...
The Seminal :: Independent Media... -




Bonus Money at Troubled A.I.G. Draws Heavy Criticism


AIG Outrage Dominates Sunday Shows
By The Huffington Post News Team 
More in Politics... Perino: Bush Deserves Credit For Recent Market... Frum: Attacks On Steele Make Me "Sick" · TV SoundOff: Sunday Talking Heads · Cheney: Obama Has Raised The Risk Of...
. Comments. 2376. Pending Comments .... It is too late to impeach Bush. But now we can insist the government say "give the money back or you will be nationalized" if they are truly too big to fail. If they are not truly too big to fail, then just "give all the tax-payers' money back." ...
The Huffington Post | Full News Feed -


AIG, Seeking Government Bailout, Warned Of 'Run' On Insurance Cos - 2 hours ago


CHICAGO -(Dow Jones)- As American International Group Inc. (AIG) was making the case to the government earlier this year for a revamped bailout, one extreme argument it made was that a run on life-insurance companies could lead to " disastrous" consequences.


The argument was made in a March 6 paper entitled "AIG: Is the Risk Systemic?" and prepared for government regulators to make the company's case for continued government funding. The New York Times reported on aspects of the paper earlier in March, and an AIG spokesman said the company decided to release the paper due to that and other coverage of the contents.


The concept of a run on an insurance company is akin to a run on a bank. Either an insurance company or a bank would be hard pressed to meet massive requests by customers for funds. For AIG to sketch such a desperate scenario indicates its eagerness to secure a further bailout.


In the draft presentation, AIG said a "run on the bank" in its life-insurance companies could create a systemic risk that would spread to its life insurer " brethren."


Although AIG's troubled financial-products division has been responsible for much of the company's losses over the past few quarters, the life-insurance industry also creates a world-wide systemic risk, AIG argued. AIG is one of the biggest life insurers and retirement services providers worldwide.


If AIG were forced to sell assets to redeem customer calls for the cash value of their accounts, it would likely have to sell at prices far below the assets' face value, which could set a precedent for the value of some of the securities that life insurers hold in their investment portfolios, said Rob Haines, an analyst with CreditSights Inc.


"They would be liquidating assets realistically valued at 90 cents on the dollar at 10 cents on the dollar, and once those losses become realized, they could become insolvent quickly," Haines said. The losses could cascade to other insurers if an AIG failure led more customers to close accounts with other insurers.


AIG's asset losses could also force other insurers to take bigger write-downs on their own holdings, he said.


In its latest bailout round, AIG said it gave the Federal Reserve Bank of New York possession of its main U.S. and international life-insurance businesses in return for an unspecified reduction in AIG's indebtedness. At some point, the companies could be spun off in a public offering, AIG said.


For a decade, the percentage of consumers who terminated their cash-value life-insurance policies has steadily fallen, as consumers found it easy to get cash from other sources, AIG said in its presentation. But if that trend changes sharply, it could trigger a catastrophic chain of events.


"A significant rise in surrender rates - inspired by consumers' needs for cash or because of rumored or real failure of insurance companies - could be disastrous," the insurer said.


Given the company's large size, "there is no ability for an 'arranged marriage' of AIG's largest units with other U.S. insurance companies," AIG said in its presentation.


AIG has written more than 81 million life-insurance policies with a face value of $1.9 trillion to individuals worldwide, the company said in its presentation.


In the U.S., AIG is the largest company in term-life and total-issued insurance, and the largest issuer of fixed annuities.



AIG Faces Pressure From Obama, Subpoena From Cuomo on Bonuses Bloomberg 

March 16 (Bloomberg) -- American International Group Inc., barraged by criticism on how it’s using $173 billion of taxpayer money, faces demands from President Barack Obama to rescind or repay $165 million in bonuses.


AIG also may get a subpoena from Andrew Cuomo,  New York State’s attorney general, who wants a list of everyone who received the bonuses. The payments were part of a $1 billion plan by AIG to reward employees for staying with the crippled New York-based company, once the world’s biggest insurer.


AIG has faced pressure to disclose more on its operations since the U.S. took a stake of almost 80 percent last year. Yesterday, AIG named at least 20 banks that received money to avoid losses after buying credit-default swaps from the insurer. The derivatives almost bankrupted AIG, and the bonuses Obama cited went to employees who created or sold them.


“It’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million,” said Obama at the White House speech today. “How do they justify this outrage to the taxpayers who are keeping the company afloat?”


AIG has earmarked about $450 million for about 400 employees of the Financial Products unit, and the $165 million installment was due to be paid yesterday. AIG already paid $55 million in December, according to a company document. The top 2008 award in the unit was about $6.5 million, and six other employees got more than $3 million.


U.S. Leverage


Obama vowed to block or recover the money, and the Treasury may use the next round of AIG’s federal aid to add protections for taxpayers, White House press secretary Robert Gibbs said. Treasury “possesses ways in which it can make the taxpayers whole” when it writes terms for the next $30 billion, he said.


Cuomo’s office demanded AIG provide names of people in the Financial Products unit receiving the retention pay. In a conference call, Cuomo rejected AIG’s claim that it was legally bound by employment contracts to pay the money, and in a letter to Chief Executive Officer Edward Liddy, he said the bonuses may be fraudulent under New York law.


“If the taxpayer didn’t bail out AIG, those contracts wouldn’t be worth the paper they’re printed on,” Cuomo said. “The whole concept of a performance bonus to me is oxymoronic when it comes to AIG.” AIG’s $61.7 billion fourth-quarter loss was the worst in U.S. corporate history.


Cuomo’s office has used similar probes to extract information from Merrill Lynch & Co. on bonuses paid in the days leading up to its takeover by Bank of America Corp. Both of those companies also received financial aid from the U.S., and Bank of America got an expanded bailout after Merrill Lynch’s losses spiraled beyond the bank’s expectations.


In Contact


“We are in ongoing contact with the Attorney General and will respond appropriately to the subpoena,” said Christina Pretto, an AIG spokeswoman.


Cuomo declined to comment on whether he was examining AIG’s retention bonuses beyond the Financial Products unit. AIG planned to award $148 million to top executives, and about $470 million for three other subsidiaries, according to a person familiar with the plans and company documents.


This weekend, AIG disclosed more about which of its customers, or counterparties, received funds provided by the U.S. bailout, which was designed by regulators to prevent a cascading series of failures in the financial system.


Bailout Benefits


Banks got $22.4 billion in collateral, $27.1 billion in payments from a U.S. entity to retire credit-default swaps and $43.7 billion tied to the securities-lending program, AIG said in a statement.


Goldman Sachs Group Inc. led beneficiaries, with $12.9 billion, followed by Societe Generale SA, France’s No. 3 bank, with $11.9 billion, and Deutsche Bank AG, Germany’s biggest lender, with $11.8 billion. AIG and the Fed had previously refused to reveal the counterparties, saying the contracts were confidential and that the information could damage AIG’s business prospects.


States, including California and Virginia, got $12.1 billion tied to guaranteed investment contracts.


“It puts a sour taste in the American taxpayer’s mouth, but you have to look at that in terms of the bigger picture,” said Donald Powell, chairman of the Federal Deposit Insurance Corp. from 2001 until 2005. “If you’re going to have any chance of recovery you probably have to stay with it.”


The bailout had already drawn expressions of anger and frustration from Congress, Treasury officials and Federal Reserve Chairman Ben S. Bernanke.


AIG’s Near-Collapse


“I was happy to see that AIG finally handed over the counterparty information we’ve been requesting for months,” said Representative Elijah Cummings, a Maryland Democrat on the House Oversight Committee. “However, I am deeply concerned that Goldman Sachs received so much money from AIG considering the relationships between the two companies. We will certainly be investigating this further to ensure that this is merely a coincidence.”


Henry Paulson, former CEO of New York-based Goldman Sachs, made the decision to save AIG while he was Treasury Secretary. He appointed Liddy, formerly CEO of Allstate Corp., whom he knew from the executive’s service on the board of Goldman Sachs.


“Goldman Sachs would have been unaffected by the failure of AIG,” saidMichael DuVally, a spokesman for Goldman Sachs. He declined to comment on Cummings’s statement. Spokespeople for the other U.S. and European banks named by AIG either declined to comment or couldn’t be reached.


Treasury’s Ire


Barclays Plc received $8.5 billion from AIG, Merrill Lynch got $6.8 billion, Bank of America got $5.2 billion and UBS AG got $5 billion. The totals include collateral, payments to retire swaps, and money tied to securities lending.


AIG released the counterparty information after a scolding from Treasury Secretary Timothy Geithner and lawmakers over its bonus plans. AIG plans to spend as much as $1 billion to keep people from leaving as it sells units, the firm said in a regulatory filing this month, confirming a Bloomberg News report from January. AIG’s recovery plan includes selling units, and the company said they’d be less attractive to buyers if talented people left for rival companies.


After an inquiry by Geithner, AIG agreed last weekend to cut 2009 retention payments by 30 percent for employees in the Financial Products unit that sold swaps and tie some bonuses to the company’s recovery.


‘Distasteful’ Agreements


“I do not like these arrangements and find it distasteful and difficult to recommend to you that we must proceed with them,” Liddy wrote to Geithner in a March 14 letter, which said the contracts predated his arrival.


Lawrence Summers, director of the White House National Economic Council, called the AIG bonus payments “outrageous” in an interview yesterday on ABC’s “This Week” program. AIG is “abusing the system,” Barney Frank, the Massachusetts Democrat who heads the House Financial Services Committee, told “Fox News Sunday.”


Two lawmakers said AIG shouldn’t receive any more bailouts, with Congressman Brad Sherman, a California Democrat, suggesting the insurer should be put into receivership and Thaddeus McCotter, a Michigan Republican and chairman of the party’s House Policy Committee, saying AIG should be broken up.


Goldman Sachs ought to consider returning public money it received if the funds aren’t needed, Sherman said. “Congress has declared that we will annoy or torture your executives until the day you give the money back,” said Sherman, a member of the House Financial Services Committee, in an interview.


To contact the reporters on this story: Hugh Son in New York at hson1@bloomberg.netRobert Schmidt in Washington


WASHINGTON (Reuters) - U.S. Representative Barney Frank, chairman of the House Financial Services Committee, said on Sunday the government needs to determine if millions in employee bonuses at American International Group Inc can be recovered.


"We need to find out whether these bonuses are legally recoverable," Frank, a Democrat, told the "Fox News Sunday" program, adding that the timing of the company's commitment to make the awards to its employees was important.


Embattled insurer AIG, which has received three government bailouts totaling $180 billion, had promised to pay about $1 billion in retention bonuses over a period of several years, half of which has already been paid.


AIG Chairman Edward Liddy said in a letter to U.S. Treasury SecretaryTimothy Geithner that the firm was legally obligated to make already-committed 2008 employee-retention payments, the value of which were set early last year before problems at the Financial Products unit became public.


About half of the $1 billion was due to be paid to staff of AIG's main insurance businesses and the rest to employees of the largely unregulated AIG Financial Products.

AIG Financial Products was the unit that made bad bets on toxic mortgages and credit default swap contracts that led to the company's near collapse.


According to company documents obtained by Reuters on Saturday, the financial products unit is obligated to pay $220 million in employee retention payments for 2008, $55 million of which were paid in December and $165 million required to be paid by Sunday.


Liddy said in the letter the company agreed to revamp its system for paying bonuses after the Obama administration objected to the payouts.


(Reporting by Philip Barbara and John O'Callaghan; Editing by Bill Trott)



Gen. Petraeus: No Iraq-style Surge in Afghanistan ...
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The Genius of Impeachment: The Founders' Cure for Royalism," by John Nichols, a masterpiece that should be required reading in every high school and college in the United States, a history and portrait of the practice of impeachment... - Bush-Cheney... -



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China --thanks to Reagan/Bush axis of treason and betrayal --has the world's largest POSITIVE account balance because of the deals cut by the GOP, deals which have resulted in China dumping its crap on the US via Wal-Mart. ...
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In case you thought former vice president Dick Cheney's unhinged interview with Politico six weeks ago was an aberration, along comes more of the same.


CNN's John King did the honors, live, on Sunday. (Here's the video.)


Cheney again accused President Obama of making the nation less safe -- without providing a stitch of reliable evidence. He also ducked responsibility for the financial crisis his team left behind, declared victory in Iraq, and confirmed earlier reports that he found himself at odds with former president George W. Bush after failing to secure a pardon for his onetime chief of staff, Scooter Libby.


Cheney said that in rolling back some of the Bush administration's anti-terror tactics, Obama "is making some choices that, in my mind, will, in fact, raise the risk to the American people of another attack."


King then offered him the opportunity to back that statement up. "I want to give you a chance -- and take as much time as you want -- to prove it....I know some of this is classified intelligence, but now that you're out of government, to the degree that you can, tell the American people, because of those tactics, because of those, yes, sometimes extreme tactics, we stopped this."


Cheney's eventual reply: "John, I've seen a report that was written based upon the intelligence that we collected then that itemizes the specific attacks that were stopped by virtue of what we learned through those programs. It's still classified. I can't give you the details of it without violating classification, but I can say there were a great many of them. The one that has been public was the potential attack coming out of Heathrow, when they were going to have several American planes with terrorists on board, with liquid explosives, and they were going to blow those planes up over the United States.


"Now, that was intercepted and stopped, partly because of those programs that we put in place."


But here's a shocker: What Cheney said isn't remotely true. The Heathrow liquid explosives plot isn't even one of the ones the Bush administration historically claimed credit for -- not that any of its claims actually held up under even modest scrutiny.


Indeed, the Heathrow plot -- in which British prosecutors presented no evidence that a viable bomb had been made, that any airline tickets had been bought or that any attack was imminent -- was undone by a British investigation. And the only U.S. role I know of was that, once U.S. officials heard about what the Brits had found out, they messed it all up.


On the disastrous budget picture left behind, Cheney had this to say: "Eight months after we arrived, we had 9/11. We had 3,000 Americans killed one morning by al Qaeda terrorists here in the United States. We immediately had to go into the wartime mode. We ended up with two wars in Afghanistan and Iraq. Some of that is still very active. We had major problems with respect to things like Katrina, for example. All of these things required us to spend money that we had not originally planned to spend, or weren't originally part of the budget.


"Stuff happens. And the administration has to be able to respond to that, and we did."


Did you get that? We "ended up" with two wars. And: "Stuff happens."


As for Iraq, Cheney said: "I guess my general sense of where we are with respect to Iraq and at the end of now, what, nearly six years, is that we've accomplished nearly everything we set out to do....


"The defeat of al Qaeda in Iraq, the writing of that democratic constitution, a series of elections that involve power sharing among all the various groups, the end of sectarian violence. I think a major defeat for the Iranians living next door to Iraq, who tried to influence events there."


Do please keep in mind that there was no al Qaeda in Iraq until after the invasion; that the al Qaeda that attacked us on 9/11 has regrouped in Afghanistan and Pakistan; that sectarian violence is arguably just in a lull; and that Iraq is virtually an Iranian client state.


So, were his arguments with Bush about Libby angry? Tense? Was there shouting? "Those kinds of details, I think, are best left to history. Maybe I'll write about it in my book," Cheney said. "I was clearly not happy that we, in effect, left Scooter sort of hanging in the wind, which I didn't think was appropriate.


I think he's an innocent man who deserves a pardon."


Americans Are Raring for a Fight Against Corporate Power

Jim Hightower, Hightower Lowdown

Corporate Accountability and WorkPlace:3/4 of Americans want to see a huge worker protection bill pass through Congress, and the greedy corporations are running scared.


Two weeks ago, amidst concern that Michael Steele's media exposure was creating serious political damage, the RNC chairman decided to guest-host William Bennett's national conservative radio program.


In a virtually unnoticed two-hour tour-de-force, the Maryland Republican sat in for the conservative talker on March 6, right as the controversy over his statements on Rush Limbaugh reached its height. And Steele didn't disappoint, lambasting Republicans for inserting earmarks in the omnibus, comparing Barack Obama to Richard Nixon, describing the current political climate "Armageddon between conservatism and liberalism" and Rahm Emanuel as a "master manipulator," saying the globe was cooling rather than warming, and touting the importance of education only to misstate a prominent historical figure's name.


"I love this battle because what I see right now is leading to the ultimate political Armageddon between conservatism and liberalism," Steele declared at one point. "And the idea that free enterprise, free markets, free people are going to battle an oppressive, repressive, domineering government. I love that. That's what we are lining up for you folks. So you better get ready, strap it on, because it's coming. And you better pick your sides, you better choose now."


San Francisco - The National Lawyers Guild San Francisco Bay Area Chapter (NLGSF) is filing a complaint with the California State Bar today against former Department of Defense General Counsel William Haynes.  The complaint against Haynes, who now works for the Chevron Corporation in San Ramon, states that he "breached his duty as a lawyer and advocated for harsh tactics amounting to torture in violation of U.S. and international law .... advocacy that directly lead to detainee abuses at the Guantanamo Bay and Abu Grahib facilities."

A copy of the complaint is available upon request or can be accessed at: The complaint will be mailed to the State Bar Los Angeles office and hand-delivered to the State Bar Office in San Francisco, where there will be a 12:30 press conference.

World Prout Assembly: Capitalism has hit the wall
By Editor 


Senators hope for ‘cramdown’ compromise
The Hill - Washington,DC,USA
The Senate “will not be able to take up this housing bill until the next work period” in April, said Jim Manley, spokesman for Senate Majority Leader Harry ...


9/11 Hindsight and Beyond: The Zeitgeist Movement
By Asankh Nav 
AE911Truth · BODY OF WAR Trailer · The looniest of all 9/11 conspiracy theories · 22 Years of Hell--40 Years of Injustice · Impeach Dick Cheney · Media Ownership Rules--Docket 06-121 · Faulty Watch List Spreading to Japan ...
9/11 Hindsight and Beyond -



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