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Final
Segment #1: |
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'Outrage
of the Day'
and
'Wall of
Shame'
changes... |
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Monday,
March 16, 2009 |
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Jim's
rating on
this stock |
STOCK
SYMBOL |
Closing
price that
day |
Full Company Name |
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AIG |
0.83 |
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American International Group
(AIG)
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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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Continued below...
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Monday,
October 22, 2008
(Cont'd from
above)...
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...
▼ ▼
▼ ▼
▼
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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here
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