They are attempting to ride the coattails of TP’s success by inserting as many links as possible into as many threads as possible so thier “hitcount” on search engines goes up.

This is dispicable ,as is their trade. And TP monitors should be on top of it. Allowing it to continue only sullies thier good name.

At what point does shadowy deals to just materialize currency start having serious consequences? Maybe were at that point?

Posted March 18, 2009

1. Edward M. Liddy was born Jan. 28, 1946, in New Brunswick, N.J.

2. Liddy graduated from Catholic University of America in 1968 and earned a master’s degree in business administration from George Washington University in 1972.

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3. He worked at Ford Motor Co. before joining G. D. Searle & Co. in 1981, when Donald Rumsfeld was CEO; in 1988, he joined Sears, Roebuck & Co.

4. Liddy oversaw Allstate’s spinoff from Sears in 1995 and was named CEO of Allstate four years later. In 2005, Hurricanes Katrina, Rita, and Wilma cost the insurer more than $5 billion combined. Allstate quickly started an effort to scale back the coverage of homes in catastrophe-prone regions.

5. Just before Liddy took over as Allstate CEO, he told a meeting of about 200 managers that some of them would not be around in a year. Later, he ousted the finance chief and investment officers.

6. In September 2008, Treasury Secretary Henry Paulson chose Liddy to head American International Group. Five years earlier, when Paulson was running Goldman Sachs Group, he also selected Liddy to join that board.

7. In October 2008, just days after AIG received an emergency $85 billion loan from the government, about 70 executives spent a week at the St. Regis resort in Monarch Beach, Calif. The group ran up a bill that included $200,000 for rooms, $150,000 for meals, and $23,000 for the spa.

8. In November 2008, AIG froze executive salaries. Liddy agreed to an annual base salary of $1 in 2008 and 2009.

9. Liddy has served on the boards of Northwestern University and the Museum of Science and Industry in Chicago. He is also a life trustee and former national chairman of the Boys and Girls Clubs of America.

10. He and his wife have three children.

Consumers Want Allstate Records Kept Public Aug 6, 2007 … “These records shed light on Allstate’s behavior after Hurricane Katrina and Allstate is afraid of the public scrutiny,” Lucas said. …
http://www.consumeraffairs.com/news04/2007/08/allstate_katrina.html – 34k – Cached – Similar pages

Jury Verdict Against Allstate for Hurricane Katrina Damage … Today a federal jury in Louisiana awarded a family whose home suffered damage as a result of Hurricane Katrina, a judgment against Allstate Insurance …
phoenix.injuryboard.com/miscellaneous/jury-verdict-against-allstate-for-hurricane-katrina-damage.aspx?googleid=215912 – 114k – Cached – Similar pages

NEW ORLEANS (Legal Newsline) – Two insurance giants will be dismissed from a whistleblower lawsuit over their post-Hurricane Katrina practices because they are already facing one initiated by disgraced plaintiffs attorney Richard “Dickie” Scruggs.

Wednesday, the federal Fifth Circuit Court of Appeals affirmed the dismissal of allegations that State Farm Insurance Cos. and Allstate Insurance Co. cheated the federal flood insurance program, yet reinstated the suit against several other defendants.

The suit was filed by Branch Consultants, a group of former claims adjusters, who said several insurance companies misrepresented the amount of damage done during 2005’s Katrina by wind (covered by policies) and water (covered by the federal program).

The opinion from a three-judge panel said that forcing Allstate and State Farm to fight a suit in Louisiana similar to one filed in Mississippi would contradict the False Claims Act’s goal of preventing “parasitic” whistleblower cases.________

QUESTION:How much money did AIG lose in Katrina claims?

Liddy was CEO of Allstate when Katrina occurred.

Paulson tapped Liddy to head AIG in 2008.

Paulson named Liddy to Goldman Sachs board years earlier, when he [Paulson]was head of Goldman Sachs.

Liddy was at Searle back in ’80’s when Rumsfeld was there.

Sorry shoeless, that horse has left the barn. The bonuses were paid last Friday.

We can’t force them to sue because they already have the money. Now it’s a way of trying to figure out how to get it back.

On the other hand, I think that the government needs to Nationalize AIG TODAY if what I just read on HP is true about the Insurance part of their business. It’s really scary:

http://www.newsweek.com/id/189917

Bilbo Hussein Baggins Says:
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shoeless Says:
According to Norman Goldman, that would be unconstitutional. The bill could not specifically name the employees of AIG. To be legal, it would have to be directed generally at executives who received bonuses over a certain amount while employed at firms which received public funds.

But, once again, you are creating a new law to apply retroactively. Is this a precedent we want to set?

I personally don’t think that is necessary. As I have said many times, break the contract and them try to sue. Or, we could just force AIG in bankruptcy, and reorganize them without the contracts. It happens all the time.

Tim43 Says:
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RUCerious Says:
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Taxing these bonuses at 100% is a perfectly legal way to recover these malappropriated funds.

It is scary that people like you actually believe that the government should tax any of it’s citizens at 100%. Just wait until the tax man comes after you RUCerious.

You aren’t scaring him. He didn’t get a million dollar bonus from the American taxpayers.

Let me ask you … What is worse?
A. That AIG executives receive bonuses under a legal binding contract between employee and employer despite outrage from the public?

Contracts get broken all the time. Many employeers break contracts after a bad year, and tell the employees to sue if they don’t like it. That’s why we have courts. Liddy should tell these jackasses they aren’t getting any bonuses and we’ll see you in court. Oh, and BTW, if you try to sue, you are fired, just like any other company.

Let’s let a jury of taxpayers decide if these pricks should get millions of dollars from the taxpayers.

http://www.fivethirtyeight.com/2009/03/new-terri-schaivo.html

He says much better what I have been trying to say all day. I really don’t want to see us go down this road. It seems too much like the roads that George Bush paved.

Now that is the important question and one that Cuomo is trying to solve. I think he has the basis to claim that the contracts were fraudulent because AIG knew when it entered into the contracts that it would not have the funds to pay the bonuses when they became due without a government bailout. If he proves that, then I do believe that the government can go after the people who received the bonuses under fraudulent conditions and make them pay it back.

I guess we all missed the part where Obama is proposing that we pass a retroactive tax law to apply to these bonuses. Perhaps you can point us to when and where this happened.

… or was that the bailout payments.

Seriously, they’re still only dancing around the issue. It’s the CDO/MBS instruments that enabled hyper-inflating of the financial system. No one who’s built a position on these “assets” is willing to see them simply disappear, but the reality is that they never actually existed.

They’d rather (somewhat legitimately) push blame off onto the hawkers of those faux-assets, or (less legitimately) blame middle-class families who can’t pay the mortgages that were used as fuel for their bonfire.

It’s a Ponzi-scheme that makes Mr. Madoff look like a petty shoplifter.