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This just gets weirder and weirder:
http://www.nytimes.com/2009/03/20/busin … .html?_r=1
Maybe these hedge fund guys should unionize. I don't know how they survive on the paltry millions they are paid.
Well Pam, one thing that all of you our house socialists are missing is clearly stated in the article:
AIG is a government entity now, it is not a private corporation any more. Welcome to the land of socialism
It's very clear what's happening here ... the lawyers (who make up the vast majority of congress ... on BOTH sides of the aisle) just aren't making enough money in general, so the government is helping them out by sueing itself.
No matter what the verdict is, the goverment will be simply giving the goverment money ... BUT ... it will have ALSO paid lawyers on both sides of the suit millions of dollars!!!
The lawyers win!!!! Yay!!!
Fantastic - the thought of all of those poor lawyers starving was tugging at my heartstrings. I even sent some money to adopt one, and was sent a picture with a little note.
Nice to help someone in need - my adopted lawyer is called Randy R. Slick III, and he is adorable.
Thanks Sufi! I just adopted a whole firm: Dewy, Cheetem and Howe!
Everybody seems to like scapegoats and lawyers always seem to be the one who get the bad rap. People tend to forget that this bailout was initiated by a "Harvard MBA".
P.S: Both my parents are from law field (my mom is a lawyer who deals in lots of social service cases and Dad was a Judge in the JAG branch of the Navy).
True and I have attorneys in my family as well ... and it's true that some lawyers aren't so bad, it's just that the bad 90% give the other 10% a bad name --- sorry couldn't resist one last joke.
That's true as it just takes one bad apple to spoil the whole barrel. I have received countless taunts from childhood and tend to be a little touchy when I hear all that. But anyway I hope when you really need one then better have the "smartest" lawyer you could afford (it doesn't hurt to have the odds in your favor)
I think it's more in the realm of "I'm my own grandpa." Man what a clusterf*ck.
Socialism, capitalism, whatever 'ism' is going on it seems I personally have the same pile of nothing. I'm done working, I'm just going to find some guy at AIG and give him all my money. Cut out the middleman.
Sufi, the site does not load for me
Probably did not withstand the demand
More corruption , more scandal I hope that our government has learned that the money should have been filtered back to the people and not to the banks and we gave AIG a crap load of money. Ridiculous!!!!! Suing us when we gave, I believe everyone should pull their money out , mmmm I forgot doesn't some of our congressman and senate have there retirement wonderfully nestled under AIG? It is enough to make anyone ill...
There is no money in there to pull out. AIG is an insurance company
Thank you bunches I didn't have enough coffee, my goodness those Latte's don't come quick enough, I realized that after I came back and reviewed but thanks for setting me straight.
AEvans- When you said "everyone should pull their money out" I thought you meant everyone of us who pays the taxes and that bail out money which has been given to AIG should be pulled out. Now you are clarifying that you meant it as if pulling out money from our deposits/savings in bank. I guess you really need a strong dose of caffeine then
What's the expression? "Biting the hand that feeds you?"
Oh, that's what governments always do. Yet we continue to happily feed them...
I don't know how "feeding the government" is applicable here? Paying taxes is compulsory in any country and US is more or less having the same tax rates as rest of the developed countries.
True. Direct taxes as percent of GDP here:
http://www.estv.admin.ch/e/dokumentatio … ant_di.pdf
Ralph- Thanks for the link(you are turning out to be our resident hub economist) To a certain extent people of France who end up paying such high tax rates may have felt let down and there was even a major strike in France yesterday
That is not what they were striking about. And, I have to say, there is a pretty damn fine health care system in France. Include indirect taxes (such as health insurance) and the figures look pretty similar all over the world.
Mark- Yes you are right. It wasn't a direct correlation. It was in the news yesterday night and the people were protesting against the economic policies and some wanted the rich people to take the burden by having more tax rates for them. I did a search in the google news and found this link
I don't mind paying taxes. I just wish I was getting something back for them instead of watching them go to pay for immoral wars and to support rich crooked people. I grew up during a time when there were no homeless people in the midwest. Now there are whole families of homeless people. Two winters ago a homeless woman froze to death on the steps of the courthouse in downtown Kalamazoo. She was a teacher at one time, but had developed an organic mental illness for which she was receiving no treatment. Last winter an elderly woman froze to death in her home when her utility disconnect notice blew off the front door. She was in her eighties and it was a week before anyone noticed she was dead.
But we make sure AIG gets plenty of money. I'm not interested in rehashing the dumb 'socialism' argument either. When I was young there were social programs that kept poor and crazy people off the streets and kept old people from freezing to death in the winter, and we didn't feel the need to shovel billions into the pockets of irresponsible hedge fund managers.
So I know we can be decent. But it's been a long time since we have been.
I never said I approve of taxation in other "developed" (LOL) countries. It's all robbery, all over the "civilized" world. Well, not that it is not a robbery in not-so-"civilized" countries, but at least they are much less successful in brainwashing their populace into believing this nonsense, probably because of the lack of funds for education...
I have no lawyers in the family, but I do have two Tax Inspectors and a Bank Manager. There was a time when people hung their heads in shame when they had a criminal in the family. How times have changed!
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