MORE AIG BELLY ACHING FOR MILLION $ BONUSES


First, another Ponzi scheme is uncovered. Then, on to AIG whining about loot.  And off to demand Rahm Emanuel, the Mossad agent who runs the White House, be arrested for fraud and theft of government funds.  First, let’s look at the family below: the bellicose boy, the scam artist who sells art and the goddess wife.  Note that the gnome’s boy looks like him, not like his mom.  This is the sad fate of these pairings.  Heh.  It is one of the downsides as far as the blonde goddesses are concerned.  But then, in Greek mythology, such pairings always had the same results.

picture-123Art Dealer Is Charged With Stealing $88 Million – NYTimes.com

The dealer, Lawrence B. Salander, and his business, the Salander-O’Reilly Galleries, were charged by a grand jury with 100 counts including grand larceny, falsifying business records, scheming to defraud, forgery and perjury, according to the person, who declined to be identified because the charges had not been formally announced. A news conference was scheduled for 11:30 a.m. Thursday at the Manhattan District Attorney’s office….

One lawsuit described the gallery as ”nothing more than a Ponzi scheme,” and at least one artist’s family went to the police. In October 2007 John Crawford, a son of the abstract painter and printmaker Ralston Crawford, said that he went to the authorities because at least a dozen paintings and photographs consigned to the gallery were missing. He estimated that they were worth $1.2 million to $1.5 million.

Much of ‘abstract art’ is a Ponzi scheme.  Hell, the entire concept of modern art was launched by nihilists who believed in destroying all art and going crazy.  ‘Dada’ art was given a goofy name and was launched as a vicious joke.  One item these ‘artists’ turned into ‘art’ was a toilet, for example.

 picture-314Here it is!  The actual, real toilet which is now in pompous Centre George Pompidou Paris, France.  Below is a Dada painting:  note the mocking thumb on nose!  Of course, everyone takes modern art seriously now.  A big mistake.

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Now, on to AIG, the Ponzi Insurance Corporation.  They have more excuses than they have, bonuses.  They forget the recent past and pretend, they are all innocent little babes in the woods who accidentally caused the entire global financial systems to collapse.  And no one had sex with the Goddess of Inflation and had ANYTHING to do with the Derivatives Beast!  No, all are innocent.  

 

This flies in the face of their other contention that they are all super-smart and know what they are doing and are doing mysterious and difficult things that mere humans can’t do so we must let them do it or they will put a gun to their heads, blow themselves up and thus, destroy the world’s financial systems.

 

One problem with this is, they already destroyed everything.  It is much too late to threaten us.

 

 

AIG Designed Retention With ‘No Knowledge’ of Crisis (Update1) – Bloomberg.com

American International Group Inc., the insurer bailed out by the government four times since September, said its retention plan was designed with no knowledge of the current financial situation.

HAHAHA!  Nothing like being deliberately stupid.  Since 7/17/7, AIG and all the other fathers of the Derivatives Beast knew they were in hot water.  They knew this the same time I knew this.  I am assuming, of course, they are at least as smart as I.  They knew the Japanese carry trade was abruptly ending.  They knew their funny money source had gone sour.  They immediately began to besiege their government tools to bail them out.

“The program was designed to retain employees for an ongoing business operation with no knowledge of the financial situation we’re in today,” said Stephen Blake, senior vice president of human resources for AIG’s financial products unit, speaking at a hearing before the Connecticut state legislature’s banks committee today.

 

In other words, in March, 2008, AIG continued to pretend, they were an ongoing business even though they already were getting funny money via the Bernanke lending windows he punched into the Treasury via the Federal Reserve.

 

 

 

Below is just a small smattering of my stories from late March, 2008.  One of particular interest is the one below: the new window the Fed hacked into the Treasury.  They made this window a temporary thing in late 2007 and then, in a panic, made it INFINITE.  AIG knew perfectly well, the whole thing was in total melt down. Or they should be punished for not reading Culture of Life News.

 

March 29, 2008:  Obama Backs Volker

 

The new rules below are for the ‘lending window’ that had to be fixed so no one would be ‘harmed’ if they use it. The biggest financial houses have rushed to the window while loudly declaiming that they are not going to be hurt by using it and they grabbed at the easy funds with both fists. Their stocks went up, not down. This made them immensely happy and they declared this window raid a success. From now until…ETERNITY…they will go to this window for cheap loans you or I can’t get. And they will use these loans to lend us money at a much, much higher rate. And they will happily sop up their 10-20% handling fees! HAHAHA. Can’t lose! So let’s explore the rules of this new window of opportunity:

Here is the old chart from before last week.

Fed_reserve_emergency_lending

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note several things here: the length of time has been elongated greatly. So ’emergencies’ can be very long term, not overnight or for a few days. Note the other deals here: NO QUESTIONS ASKED. HAHAHA. I would LOVE a bank that has that! No one glowering and demanding what I am going to do with the money they are lending. ‘I need to buy tickets to Argentina. Give me a loan for $1 million. No, make that $20 million. I need it for my living expenses down there!’ Right! No questions. Also, NO RESTRICTIONS. Wow. Argentina, here I come! Whoo hoo! Maybe I should make this a loan for $200 million. No, $200 billion. Hell, why not go for it all: $200 trillion. And now we can see dimly where the Derivatives Beast feeds. The ‘no restrictions/no questions asked’ loot may be used to buy federal funds.

 

And here is the snake eating its own tail: the Fed has to sell bonds to fund money growth at all times. And the Federal government has been running in the red ever since the Vietnam War except for one year and one year only! And the entire system has been reset to reflect the needs of this ‘totally in the red all the time’ system. Note that both Obama and Clinton don’t talk about this. And McCain wants to bomb, bomb, bomb our way to hell as his nostrum for all this.

 

March 19, 2008:  J.P. [For Pirates] Morgan Is Being Sued By Everyone

Jp_morgan_does_insider_trading

 

 

 

 

 

 

 

 

 

 

 

Fremont_general_stock_chart

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 21, 2008:  Bank Rescues Means Exact Replication Of Great Depression

 

March 24, 2008:  Goldman Sachs and J.P. Morgan Try To Palm Off The Derivatives Beast Onto US Public

HAHAHA. I knew this would happen. The ‘rescue’ operation was really a pirate raid. It hit both our Treasury as well as Bear Stearns. The pirates hoped to sail off into the sunset with a pile of goodies, more power and no responsibilities. A perfect ending to a classic take-down. But too many people saw through this charade. Thanks to online chatter, the people who were first dismayed by this back-stabbing operation were able to counter-organize and stage a battle right on the decks of the burning Bear Stearns pirate ship! Cutlasses flash as cannons boom…the stream of online information and examination as well as the organizing skills of the internet has rallied the troops who man the Bear Stearns ship as well as the raging battle attracted a horde of sharks as well as many other pirate ships have come sailing into the fray!

March 25, 2008:  Fed Reserve Merges With BlackRock And J.P. Morgan

 

Lehman, instead of having the traditional 10:1 ratio had a 28:1 ratio last year and to keep alive, they went to the Bank of Japan and expanded this to a 32:1 ratio! Soon, they will reach 70:1 and then collapse. But they are already clawing at Wotan, begging Bernanke to please give them a break like JP Morgan got. JP Morgan happens to be one of the world’s biggest holders of the value of the Derivatives Beast. Many multiples of trillions of dollars that they don’t have, own or have any hope of producing in an emergency. Note also how the Lehman people shoehorn debt into the positive money flow side of the ledger. This is FRAUD. I vividly remember arguments I had with professional financial advisors in the past over the topic, ‘Is credit wealth?’

I correctly said that ONLY capitalist profit is ‘wealth’. Everything else is ‘assets’ which can shoot up or crash in value. Profits also go up or down but remain ‘profits’. One can by assets with profits. But one can only profit off of assets if they inflate. Whereas, profits from capitalism is when it is used with labor, power and machines to create goods which can be exchanged for more than the costs of materials and production. Americans were told for years, it is better to go into debt to use the funds to play markets rather than expanding our value-added industrial base and then enriching the nation via international trade.

 

March 25, 2008:  Banking Meltdown Melts Even More

March 26, 2008:  President’s Pigs Flying Economic Report

 

March 30, 2008:  Money Matters: The Fed Coup: Destroy The SEC!!!!

March 31, 2008:  Money Matters: Loans For College Collapse And Vanish

Needless to say, only an utter buffoon or baboon living on the velt could claim ignorance about what was going on last spring.  Bear Stearns went belly up at the end of March.  AIG, of all entities, could see the writing on the wall.  But when they also saw that our government was willing to bail everyone out, they wrote contracts giving each other multi-million dollar bonuses!  Despite, knowing the whole thing was crashing.

 

Here is yet another letter from an AIG millionaire who wonders why we can’t give him a million bucks for ‘unwinding’ the affairs of a company he destroyed. Of course, like ALL AIG letters that are pouring out this week, he claims he had nothing to do with anything that went wrong.  He is an innocent gnome with noble intentions.

 

Op-Ed Contributor – Dear A.I.G., I Quit! – NYTimes.com

picture-210

After 12 months of hard work dismantling the company —  Oh, the agony!  As someone who has dismantled houses and dug up huge tree roots, my heart bleeds for this poor gnome’s paper cuts!  during which A.I.G. reassured us many times we would be rewarded in March 2009 — we in the financial products unit have been betrayed by A.I.G. and are being unfairly persecuted by elected officials. In response to this, I will now leave the company and donate my entire post-tax retention payment to those suffering from the global economic downturn. My intent is to keep none of the money myself.

There is NOTHING TO DONATE.  This is taxpayer’s DEBTS to CHINA.  It is not money given to a gnome to do as he pleases.

I take this action after 11 years of dedicated, honorable service to A.I.G. I can no longer effectively perform my duties in this dysfunctional environment, nor am I being paid to do so. HAHAHA, he was happy to work in a dysfunctional environment so long as he was anticipating getting millions of dollars!  Like you, I was asked to work for an annual salary of $1, and I agreed out of a sense of duty —and of course, no taxes!  And the bonus was pure cream to the pussy cats!  Notice how gnomes view sacrifice: they don’t get paid much but expect immense rewards to fall into their laps—to the company and to the public officials who have come to its aid. Having now been let down by both, I can no longer justify spending 10, 12, 14 hours a day away from my family for the benefit of those who have let me down….

I started at this company in 1998 as an equity trader, became the head of equity and commodity trading and, a couple of years before A.I.G.’s meltdown last September, was named the head of business development for commodities. Gnomes who find loop holes to exploit or who are involved in leveraging the Japanese carry trade, got promoted as fast as this guy.  In less than 10 years, he leapfrogged over everyone.  Notice, he was in COMMODITY trading!  Remember last year?  How commodities shot upwards like a rocket, causing global inflation of the worst sort?  This is the gnome responsible for a lot of this.  Over this period the equity and commodity units were consistently profitable — in most years generating net profits of well over $100 million. $100 million made via bidding up the price of nearly everything we need to survive or raw materials for manufacturing…this was a major form of global inflation.  Most recently, during the dismantling of A.I.G.-F.P., I was an integral player in the pending sale of its well-regarded commodity index business to UBS. UBS is the Swiss gnomes who are in so much trouble, too.  For the same reasons.   As you know, business unit sales like this are crucial to A.I.G.’s effort to repay the American taxpayer….But you also are aware that most of the employees of your financial products unit had nothing to do with the large losses….

As most of us have done nothing wrong, HAHAHA…looting the planet is OK…. guilt is not a motivation to surrender our earnings. We have worked 12 long months under these contracts and now deserve to be paid as promised. None of us should be cheated of our payments any more than a plumber should be cheated after he has fixed the pipes but a careless electrician causes a fire that burns down the house….

Who are they?  Joe the Non-plumber?  If a plumber costs a fortune and all he is doing is DEMOLITION then, hell’s bells!  It isn’t worth a million bucks.

That is why I have decided to donate 100 percent of the effective after-tax proceeds of my retention payment directly to organizations that are helping people who are suffering from the global downturn. This is not a tax-deduction gimmick; I simply believe that I at least deserve to dictate how my earnings are spent, and do not want to see them disappear back into the obscurity of A.I.G.’s or the federal government’s budget….

Like Madoff, this guy thinks he isn’t guilty of destroying the world’s economic system.  He also thinks, money from us is his to do as he pleases and all is well if he decides to give it to ‘charity’.  Many charities are scams, in the first place, administration eats up a tremendous amount and these things do very little in the real world.  The widows and orphans are looked after by the state, for the most part.

As for the Federal Government being ‘obscure’, this outrageous AIG gnome better go check out how much we are running in the red.  Maybe, he is thinking of leaving the country.

On March 16 I received a payment from A.I.G. amounting to $742,006.40, after taxes.  

And this is the killer!  He got nearly a million dollars.  For doing what?  Pushing paper!  He ‘made deals’.  Big deal.  The rewards have been grossly out of bound for years now and to the point, these clowns actually think, this is NORMAL!

 

Enough with these AIG jerks, now, on to more important jerks.  Rahm Emanuel is a leech working for Israel who runs the White House and is part of the ‘Jewish Mafia’.  He is working hard to protect his confederates who are looting the systems, to keep on looting the systems.  He has no intentions of stopping any of this. When real public outrage finally comes hammering on the front door, he tries to deflect it. This is why he and his buddies tossed the AIG gnomes under the No Change bus.  

 

Now, people are finally digging into this alien’s past.  He, of course, got paid immense sums for doing exactly nothing except being party to the destruction of Freddie Mac.  Arrest Rahm Emanuel.  Deport him.  He is a Mossad agent.

 

Rahm Emanuel’s profitable stint at mortgage giant — chicagotribune.com

Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.

One of those allegedly asleep-at-the-switch board members was Chicago’s Rahm Emanuel—now chief of staff to President Barack Obama—who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort.

Yes, he was sleeping….like a whore sleeps when working.  He is a whore, of course.  And better paid than even Spitzer’s whores!  

As gatekeeper to Obama, Emanuel now plays a critical role in addressing the nation’s mortgage woes and fulfilling the administration’s pledge to impose responsibility on the financial world.

Now, he stands between the American votes and the President.  He lets only his buddies into the Oval Office.  So Obama gets to hobnob with wizards, gnomes and religious fanatics seeking to start WWIII.  

Emanuel’s Freddie Mac involvement has been a prominent point on his political résumé, and his healthy payday from the firm has been no secret either. What is less known, however, is how little he apparently did for his money and how he benefited from the kind of cozy ties between Washington and Wall Street that have fueled the nation’s current economic mess….

The role of the Jewish Mafia in all this still has to be exposed.  Talking honestly about this is Verboten in the Extreme.  So instead, we have to puzzle out how this kid whose daddy is a prominent Israeli military/Mossad agent and whose son fought for Israel but never, for America, is always getting the goodies, the leg up and lots of cover until he ascended the ladder of power to the very top.

Though just 49, Emanuel is a veteran Democratic strategist and fundraiser… raising funds from the Jewish Mafia like AIPAC, a bunch of traitors who spy on us….who served three terms in the U.S. House after helping elect Mayor Richard Daley and former President Bill Clinton. The Freddie Mac money was a small piece of the $16 million he made in a three-year interlude as an investment banker a decade ago….He was named to the Freddie Mac board in February 2000 by Clinton, whom Emanuel had served as White House political director and vocal defender during the Whitewater and Monica Lewinsky scandals.

The board met no more than six times a year. Unlike most fellow directors, Emanuel was not assigned to any of the board’s working committees, according to company proxy statements. Immediately upon joining the board, Emanuel and other new directors qualified for $380,000 in stock and options plus a $20,000 annual fee, records indicate.

$380,000 divided by 6 is $63,333 a meeting!  And what did this Wunderkinder do at these meetings?  Cuss?  Sneer?  He loves doing both.  And hates it when it is done to him.  If we do it to him, we are meanies.  And ‘anti-semites’, of course.  But how did this Israeli kid get so much political power and so many US taxpayer-supported goodies?  

On Emanuel’s watch, the board was told by executives of a plan to use accounting tricks to mislead shareholders about outsize profits the government-chartered firm was then reaping from risky investments. The goal was to push earnings onto the books in future years, ensuring that Freddie Mac would appear profitable on paper for years to come and helping maximize annual bonuses for company brass….

Sounds like the AIG and JP Morgan and other gnomes were brought into the meetings to tell everyone how to lie, cheat and steal.  This always ends in bankruptcy, of course.  And I am still puzzled as to why AIG couldn’t figure this out.  They are geniuses at finding tricks and schemes to make million dollar bonuses but could figure out the downside to all this, of course.

Because of Freddie Mac’s federal charter, the board in Emanuel’s day was a hybrid of directors elected by shareholders and those appointed by the president.

In his final year in office, Clinton tapped three close pals: Emanuel, Washington lobbyist and golfing partner James Free, and Harold Ickes, a former White House aide instrumental in securing the election of Hillary Clinton to the U.S. Senate. Free’s appointment was good for four months, and Ickes’ only three months.

So, they only needed a few months to get their loot?  Not even bother with the fiction, they were overseeing something?  Arrest ALL of them.  For fraud.  And Bill Clinton.  And his frumpy frau.  Ooops.  She is running the State Department as a reward from Obama so she wouldn’t scheme against him.

Falcon, director of the Office of Federal Housing Enterprise Oversight, found that presidential appointees played no “meaningful role” in overseeing the company and recommended that their positions be eliminated.

Eliminate them!  Hell, arrest them!  They knew they were looting us.  And couldn’t wait to stuff their fat pockets.  Rahm Emanuel should be eliminated.  I remember other, very similar, venal, corrupt WH characters such as the guy named ‘Karl Rove’ who should also be in prison.  Now, arresting both men would be Change I can believe in!

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2 Comments

Filed under money matters, politics

2 responses to “MORE AIG BELLY ACHING FOR MILLION $ BONUSES

  1. Pingback: MORE AIG BELLY ACHING FOR MILLION $ BONUSES « Culture of Life News

  2. shockuhzulu

    I can’t even ever keep up with all the stuff you write. I still wonder if you sleep? I have a new name for JPMorgan. I know you wrote J Pirate Morgan. How about J Pirate Morgasm? I see you tie wealth and mating together often, which is as it should be in the world as it is today.

    Do you see any chance of the U.S. avoiding a complete economic collapse before 2012? Any at all?

    I read your blog when I get a chance because you always find the best information available and have the best insight on what’s happening.

    I saw one of your youtube videos. You’re perhaps a bit younger looking and a lot more soft spoken than I imagined. I saw a younger woman on one of the business shows, CNBC. It was called Options Action. Well she looked like she could be your daughter.

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