Chaos on Wall Street

Posted: September 15, 2008 in miscellany

So let me guess how today’s chaos surrounding Lehman Brothers, AIG et al is going to play out. The  executives whose greed precipitated this mess will get nice fat payoffs and will get to keep their ill-gotten gains and bonuses while ordinary investors and employees will get screwed over. Whatever happened to all that corporate compliance and regulation that was supposed to stop this sort of thing happening? The lot of them should be charged with criminal negligence and their assets – not to mention their balls – squeezed until they beg for mercy. Scumbags.

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Comments
  1. Ross Eldridge says:

    Chris,

    Don’t forget the 74,000,000 policyholders with AIG who will be without insurance, perhaps as soon as tomorrow (Wednesday), and Manchester United with all those jerseys with AIG on the front …

    Certainly there is karma at last for these manipulating billionaires. What the SEC couldn’t catch them on, the gods will.

    It seems remarkable to me that, using AIG as an example, such RISKY policies and behavior would have even occurred to moral insurers, bearing in mind that insurance is a protection. It was pure greed, bottom lines, personal wealth of those at the top. Struggling folks in the Philippines and elsewhere in the Third World paid for a great deal of this, and they may lose everything.

    Of course, the jerseys on my local team read “Northern Rock” … It may not pay to advertise!

    R.

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