Sunday, March 15, 2009

AIG Bonus Scandal Spurs Obama Administration "Outrage"

Send in the Mobs
(Sing along to lyrics below)

WASHINGTON — Isn’t this rich? Despite being bailed out with more than $170 billion of U.S. taxpayer money from the Treasury and Federal Reserve, the American International Group plans to reward the executives of AIG’s Financial Products division at least $100 million in bonuses and “retention pay.” The New York Times reports this shocking news that President Obama and Treasury Secretary Tim Geithner have approved the multi-million dollar, windfall pay-off to reward the same clowns in AIG’s “business unit” who brought the company to its knees last year.

Goldman Sach$ alumnus turned Treasury Secretary Geithner says he finds the pay-off “distasteful”, conceding that U.S. taxpayers will just have to eat it up and spit out, anyway. A.I.G.’s government-appointed chairman, Edward M. Liddy also emphasized that in order to retain these million dollar “best and brightest” clowns in the Financial Products division, they “also agreed to reduce their salary for the rest of 2009 to $1” – Wow! Now there’s a teaser incentive guaranteed to keep these financial wizards sticking around to fire on all pistons --- in a hush-hush kind of way. The multi-million dollar bonus/retention plan also signals that U.S. citizens shall be treated to more reaming and scheming as this int$mate ins$der club loots the middle class, and Do it Their Way.

Send in the Mobs
by 2Truthy

Isn’t is rich?
Why don’t they care?
Kicking folks out of their homes
Made them all millionaires…
Where are the mobs.

Isn't it bliss?
How they approved
Liar Loans for their loot
To the Caymens it moved...
Where are the mobs?
To take down these slobs.

Just when I'd stopped buying Brazilian Cherrywood floors,
Finally knowing interest rates were starting to soar
Making my entrance again to ditch my deadbeat loan
Sure of my (credit) lines...
No one was home.

Don't you love farce? Isn’t it strange.
That the bond insurance they bought
Put crappy loans in “AAA” range.
And where are the mobs
To take down these slobs
Don't bother, they're here.

Isn’t it rich
Isn't it queer?
They’ll still have a house and a car and a career.
But where are the mobs?
To take down these slobs…
Well, maybe next year.

Party on, plebes!



2Truthy said...


It is not the expressed opinion of yours truly that most Liar Loan deadbeats should be coddled or forgiven for not understanding/reading the crazy-, too-good to be true fine print, per se.

HOWEVER, given the fact that the high financiers and bankers who master-minded their own 'private' derivatives beast/CDO mess that is NOW foisted off to taxpayers and government does not, nor should it, IMHO, entitle any of them to be rewarded with obscene bonus packages or any, at all -- much less one single, devalued bleeping buck.

Citizen Carrie said...

You write the best song lyrics. Seriously, have you ever written any songs of your own?

The rest of my family is watching "Pirates of the Caribbean" right now. Honestly, when do we start making these AIG guys walk the plank?

And the Cayman Islands is like a modern-day Tortuga. When do we start bombarding the Caymans with our battle ships and start looting their bank vaults and collecting their bank records?

2Truthy said...

"And the Cayman Islands is like a modern-day Tortuga."

Good one.
How fitting. Island hopping to a French Island stashed with "Let them eat cake" money.
We need to dedicate a National "Dress Like Jack Sparrow Day" and storm the fat tortoise.

The song lyrics, btw, visit me in my sleep - my own stuff is far too pedestrian to parody;)

Melvin Toast said...

I concur with Ms. Carrie. Huzzah for 2Truthy and her smashingly dead-on lyrical skewerings of our corporate leviathans!

Anonymous said...

Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.
The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and “misjudged” the risk.


With the anger and rage that is being exhibited against A.I.G., perhaps the bonuses Obama received from A.I.G. explain Obama’s A.I.G crocodile tears.


Now that the Wall street Journal has revealed that A.I.G. paid bonuses of $1 million or more to 73 employees, it’s time to ask if recipients of A.I.G. “bonuses,” including President Obama, will give back what now ought to be taxpayer money?