AIG CEO Robert Benmosche Compares Bonus Criticism to Lynch Mobs

You will love this Matt Taibbi article posted on RSN and Rolling Stone. He’s G-r-r-reat!

Matt-TaibbiAIG has a lengthy history of producing some of the biggest tools on Wall Street. Former CEO Maurice “Hank” Greenberg was considered one of the world’s preeminent unapologetic narcissists even before he sued the government for providing an insufficiently generous bailout.

Joe Cassano, former chief of AIG’s financial products division, was another. First, he arrogantly blew off the accountants who warned him his portfolio of hundreds of billions in uncollateralized bets might destroy the world. Then, after it all went Continue reading

RSN: Will the Peasants Go Medieval on Bankers?

Readers Supported News: By Washington’s Blog

While everyone from Tony Blair to Nouriel Roubini is debating whether or not bankers should be hanged, the Wall Street Journal and Bloomberg provide some fascinating historical context.
Dark subjects: A Red Saunders creation. This picture is called Wat Tyler and the Peasant’s Revolt, 1381.  Continue reading

RSN – Fannie Mae Pushed Banks to Foreclose

Fannie Mae Pushed Banks to Foreclose
By Todd A. Heywood, Michigan Messenger
17 August 11

Revelations called ‘disgusting,’ but not surprising.

Michigan leaders in the fight against the foreclosure crisis reacted strongly Sunday to revelations that mortgage giant Fannie Mae appears to have been pushing banks to foreclose on homeowners rather than continue negotiating loan modifications. Continue reading

RSN: Austerity: The Wrong Prescription

 “…the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”  Take over the mortgages – stupid! SEIZE MERS.

Austerity: The Wrong Prescription

Denise Brunal-Hicks, left, hugs her daughter Samantha, 18, as they stand next to a curb piled with their belongings. Brunal-Hicks was being evicted from her foreclosed home after spending thirteen years at the residence. (photo: Greg Kahn/Naples News)

By Carl Gibson, Reader Supported News
09 August 11

Reader Supported News | Perspective

f you were a patient in intensive care, sick and in pain, what would you say to a doctor whose only recommendation was cutting off your blood supply, meals and therapy, and redirecting your pain medicine to another patient who was already healthy and well? Would you follow your doctor’s orders, or sue them for malpractice? Continue reading

Bernie Sanders tells it like it is – The American People Are Angry

The American People Are Angry
By Sen. Bernie Sanders, Reader Supported News
28 July 11

s House and Senate leaders fine-tuned rival deficit reduction plans on Wednesday, Sen. Bernie Sanders spoke on the Senate floor about the public’s strong belief that additional revenue from the wealthy should be part of any package to reduce red ink. He cited a new Washington Post poll that found 72 percent favor raising taxes on those who make more than $250,000 year. Despite those overwhelming numbers, he said, “We are marching down a path which will do exactly opposite of what the American people want.” He called Republican opposition to more revenue “fanatical.” He also faulted President Obama for a bargaining strategy that sugars down to this: “Retreat after retreat after retreat.” Of the competing House and Senate proposals Sanders bluntly concluded that one is bad and the other is much worse. He shared his assessment with Continue reading