Having all the money in the world hasn't stopped the elites from having their fee fees hurt whenever any type of criticism comes their way over the amount of money they pay themselves. Give me a 10-50 million dollar bonus and you can go to town on moi.
The Wall Street Journal buries the lede in a major way in its Saturday piece on AIG CEO/bombthrower Robert Benmosche that ran on the cover of Marketplace with this anodyne headline:
At AIG, Benmosche Steers a Steady Course
CEO Stabilizes Insurer, Focuses on Core Mission
Up high in the story: Benmosche’s assurance that “‘too big to fail’ has been solved”
Left on the cutting-room floor: Benmosche’s comments saying the national outrage about AIG’s bonuses was comparable to the lynching of blacks in the South.
The uproar over bonuses “was intended to stir public anger, to get everybody out there with their pitchforks and their hangman nooses, and all that-sort of like what we did in the Deep South [decades ago]. And I think it was just as bad and just as wrong.
So nutty AIG paranoia about the potential of hayseeds with pitchforks stringin’ ‘em up is “just as bad and just as wrong” as the actual murder of thousands of black people by hayseeds with pitchforks.
Matt Taibbi says on Twitter, “Just when you thought nothing could ever be dumber than Charlie Munger’s “Suck it In and Cope” line…”, referring to Warren Buffett’s billionaire sidekick’s comment that Wall Street bailouts were justified, but regular folks slammed by the fallout of Wall Street’s actions should “Suck it in and cope, buddy. Suck it in and cope.” Taibbi’s right: Benmosche’s comment enters the Stupidest Quotes of the Crisis charts at No. 1 (Somewhere in the Top Twenty, Benmosche’s comment to Bloomberg in an interview at his seaside villa in Dubrovnik that “Retirement ages will have to move to 70, 80 years old.”)
These rich elites have acted so obscene since the financial collapse. When they were rightly blamed for causing so much damage they cried like little babies and held their breath until they turned blue. They view the middle and lower classes as cattle, pieces of meat to enrich themselves with.
Please contact AIG and tell them what you think of their CEO.
Contact the BoardAIG's Audit Committee and Board of Directors have established procedures for the receipt, retention and treatment of complaints pursuant to Rule 10A-3(b)(3) under the Securities Exchange Act of 1934 and have established a means for communicating with the non-management members of AIG's Board of Directors pursuant to Section 303A.03 of the New York Stock Exchange Listed Company Manual.
To report complaints with respect to AIG's accounting, internal accounting controls or auditing matters you may do so:
Christopher S. Lynch
Chairman of the Audit Committee
c/o Internal Audit Division - Investigations Group
American International Group, Inc.
32 Old Slip
New York, NY 10005
The AIG Compliance Help Line at 1-877-244-2210, Menu Item #3 (to access the AIG Compliance Help Line from outside the United States, dial the appropriate country code, wait for the prompt, then dial the number)
To contact the non-management members of AIG's Board of Directors as a group or the other members of the Board of Directors with respect to concerns or other matters you may do so:
c/o Special Counsel and Secretary to the Board
American International Group, Inc.
180 Maiden Lane
New York, NY 10038
All concerns will be addressed and complaints will be processed promptly.
Benmosche isn't the only rich jerk out there.
Take this quick quiz. Who said what?
1. “That's why I'm richer than you.”
2. “I don’t think that I would consider myself a feminist.”
3. “We have a right to make a profit.”
4.“We've got to get companies to regulate themselves…”
5. “I have no regrets about…how Countrywide was run. It was a world-class company.”
6. “I’m doing God’s work.”
For the answers click to this story: Sh*t CEOs Say: 6 Outrageous Statements from America's Big-Mouthed Overlords