Given the choice, Americans would pay more to see AIG Suffer

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MarketWatch

13 April 2009 Monday 11:44 AM EST

SECTION: NEWS & COMMENTARY; Commentary; MarketWatch First Take

LENGTH: 307 words


TITLE: Given the choice, Americans would pay more suffer for AIG

Signature: MarketWatch



NEW YORK (MarketWatch) - A superb interview published Monday with the head of American International Group Inc. 's financial products unit offers a rare glimpse of the turmoil in the grip of the insurance once-powerful giant.

And Americans will be comforted to know that the game has made things miserable.

Gerry said Pasciucco The Wall Street Journal that the controversial "moral evil" and "amazed people like the wind has slowed down." He added: "Taxpayers have probably been damaged and that 20 of the unit 370 employees left.

Pasciucco essentially validated what industry experts and AIG (AIG) CEO Edward Liddy said during the prime of flap broke out last month that payments have been unpleasant but necessary to relax the unit $ 1.6 trillion portfolio.

In addition, the Financial Times reported Monday that the financial products unit did not accept the industry standard, called the "Big Bang" protocol of more than 2000 stores derivative signed. The protocol, which came into effect Wednesday, requires more transparency.


The image of the emergence of AIG Financial Products is a unit of a jumper full of greedy executives. Although fears that the prime reaction taxpayers would seem to ring true, the taxpayers do not seem to care. They want to make AIG managers by subjecting the return of bonus or leave their job in disgrace.

That's what happens when people in the streets to protest against $ 173 billion rescue and a bonus of $ 450 million plan. Gallup polls, 76% of Americans want the government to block bonuses. The outrage crosses party lines so you have to wonder if the other 24% of respondents have worked at AIG.

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