The financial system is in tatters. It deserves to be. Yet scarcely a day passes without some key figure within the banking or broader financial world saying something breathtakingly arrogant. These people are truly nasty and disconnected from reality. It seems not enough for them to have destroyed the various companies they run. Or to […]

The Washington Post is reporting that AIG rage has officially arrived in suburban Connecticut where AIG Financial Products Division has offices. Here’s the story:Rage at AIG Swells As Bonuses Go Out I have no concern whatever for these ‘poor’ folks who are now receiving threatening e-mails and so on. Their behavior was sociopathic. They held […]

As if you hadn’t had enough. I have located the text of the ‘Retention Plan’ that AIG is using to defend its payment of the bonuses, it says it is obligated to pay. Here it is in all its glory: AIGFP Employee Retention Plan This is an extraordinary document. It lays out in detail exactly […]