Final Segment #1:
'Outrage of the Day'
and
'Wall of Shame' changes...
Monday, March 16, 2009

Jim's
rating on
this stock

STOCK
SYMBOL

Closing
price that
day

Full Company Name

AIG

0.83

American International Group (AIG)



Jim:     Where are the perp walks?...

Where is that Justice Department division for white collar crimes task force that we keep calling for?...

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Market Results today:

Dow:  - 7

Nasdaq:  - 27

S&P 500:  - 2

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Monday, October 22, 2008
(Cont'd from above)...

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Jim (cont'd):

I may subpoena power, but at least I can put Ed Liddy, the current head of AIG, on the Mad Money Wall of Shame... an ignominious place, reserved only for the absolute worst, most incompetent or dishonest executives... those who are truly outrageous... the lowest of the low...

I tried to give Liddy a chance...

He didn't create AIG's problems. He inheirited them. He's paying himself $1 a year. I like that. A symbolic gesture. But, at some point, enough is enough...

AIG is practically a Wall of Shame factory... Liddy's predecessor, Martin Sullivan, was up there, and so was AIG's former chairman, Robert Willumsted... They were terrible...

Look, I wanted to give Liddy a chance to dig his company out from the hole they dug... He blew it. Everyone's mad about the bonuses AIG's paying to the very people that caused its destruction. I agree it's outrageous. I'm happy to see that Obama's trying to rescind them...

The dubious notion of "contractual obligations" just doesn't pass the smell test... Make these guys take their bonuses in stock then. After all, AIG is an ongoing concern isn't it?... Or don't pay. And let them sue you!

As infuriating as it is that the people who brought down AIG are still employed... They're also getting fat bonuses...

That's not the worst thing that's happened at AIG. That's the sideshow that everybody's focused on... That's the sideshow...

Listen to me...

The real outrage... the reason that Ed Liddy is now a "Wall of Shamer"... is that we have asked this company... this money pit... that we have now poured $173 billion taxpayer dollars into... We've asked them on the show over and over and over again... to open the book of business... Show us what we're invested in. Let us know what our exposure is as a nation... Is it to European banks?... Let us know...

No. They just dribble the information out...

We have an 80% stake in this company, and we still don't get full disclosure... We don't know what we're on the hook for?... That's unbelievable...

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The Bottom Line!:     We need a RICO investigation of this company, and we need it now. The bonuses are just offensive, but it's the lack of disclosure and dishonesty... That's the real outrage...

 

[end of segment]


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