Author Topic: AIG CEO: "stop lynching us!"  (Read 4597 times)

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Offline gyeonghwa

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AIG CEO: "stop lynching us!"
« on: September 29, 2013, 06:56:07 pm »
AIG was one of the companies bailed out in 2008 with taxpayer money. They were suppose to use the money to stabilize the banking industry but instead gave all the head hanchos bonus to their already large income. People are of coursed outraged at that. So what does the CEO do? He compares being mad at the misuse of funds to lynching him.

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Now you have these bright young people [in the financial-products unit] who had nothing to do with [the bad bets that hurt the company.] … They understand the derivatives very well; they understand the complexity. … They’re all scared. They [had made] good livings. They probably lived beyond their means. …They aren’t going to stay there for nothing.
 
The uproar over bonuses “was intended to stir public anger, to get everybody out there with their pitch forks 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.

That's right. Being mad at the CEO's misuse of money is exactly like murdering black people in mobs. And according to him, just as bad. Because that's what black people did, take taxpayer money meant to stabilize the banking industry and gave themselves enough money to buy more houses. Rep. Elijah Cummings (D-MD) responds:

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As the leading critic of AIG’s lavish spending before and after its taxpayer-funded bailout—and as the son of sharecroppers who actually experienced lynchings in their communities—I find it unbelievably appalling that Mr. Benmosche equates the violent repression of the African-American people with congressional efforts to prevent the waste of taxpayer dollars. If these statements are true, I believe he has demonstrated a fundamental inability to lead this modern global company in a responsible manner—a company that exists today only because it was rescued by the American taxpayers—and that he should resign his position as CEO immediately.
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Offline ironbite

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Re: AIG CEO: "stop lynching us!"
« Reply #1 on: September 29, 2013, 07:02:24 pm »
The disconnect with reality is a result of people being told how special and unique they are when they really aren't.

Ironbite-cept this guy is a baby boomer so the fuck do I know?

Offline mellenORL

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Re: AIG CEO: "stop lynching us!"
« Reply #2 on: September 29, 2013, 07:12:23 pm »
<a href="http://www.youtube.com/watch?v=StKwnfat2Bw" target="_blank">http://www.youtube.com/watch?v=StKwnfat2Bw</a>

See? That's why the disconnect. He ain't human.
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Offline gomer21xx

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Re: AIG CEO: "stop lynching us!"
« Reply #3 on: September 30, 2013, 12:20:29 pm »
AIG was one of the companies bailed out in 2008 with taxpayer money. They were suppose to use the money to stabilize the banking industry but instead gave all the head hanchos bonus to their already large income. People are of coursed outraged at that. So what does the CEO do? He compares being mad at the misuse of funds to lynching him.

Quote
Now you have these bright young people [in the financial-products unit] who had nothing to do with [the bad bets that hurt the company.] … They understand the derivatives very well; they understand the complexity. … They’re all scared. They [had made] good livings. They probably lived beyond their means. …They aren’t going to stay there for nothing.
 
The uproar over bonuses “was intended to stir public anger, to get everybody out there with their pitch forks 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.

That's right. Being mad at the CEO's misuse of money is exactly like murdering black people in mobs. And according to him, just as bad. Because that's what black people did, take taxpayer money meant to stabilize the banking industry and gave themselves enough money to buy more houses. Rep. Elijah Cummings (D-MD) responds:

Quote
As the leading critic of AIG’s lavish spending before and after its taxpayer-funded bailout—and as the son of sharecroppers who actually experienced lynchings in their communities—I find it unbelievably appalling that Mr. Benmosche equates the violent repression of the African-American people with congressional efforts to prevent the waste of taxpayer dollars. If these statements are true, I believe he has demonstrated a fundamental inability to lead this modern global company in a responsible manner—a company that exists today only because it was rescued by the American taxpayers—and that he should resign his position as CEO immediately.

You know, regardless of any previous connotations of lynching, I think if we did that to a few of these overly corrupt CEOs, that used taxpayer-based bailout money to fatten their own pockets, the rest could maybe begin to understand that the people of this country are tired of their goddamn bullshit!
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Re: AIG CEO: "stop lynching us!"
« Reply #4 on: September 30, 2013, 01:40:35 pm »
"Out of touch with reality" doesn't even begin to describe this…

Offline Witchyjoshy

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Re: AIG CEO: "stop lynching us!"
« Reply #5 on: September 30, 2013, 02:58:16 pm »
"Out of touch with reality" doesn't even begin to describe this…

"Persecution complex" does, however.
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Offline mellenORL

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Re: AIG CEO: "stop lynching us!"
« Reply #6 on: September 30, 2013, 03:02:33 pm »
Parasites squeal when you shine a light on them.
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Offline Sixth Monarchist

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Re: AIG CEO: "stop lynching us!"
« Reply #7 on: September 30, 2013, 03:54:54 pm »
"Out of touch with reality" doesn't even begin to describe this…

There's reality. Then there's the reality that people who are out of touch with reality reside in. Then there are people who are out of touch with the reality that people who are out of touch with reality reside in. And then there's this guy, who's about three levels out from those people.
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Offline Dr. Weird

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Re: AIG CEO: "stop lynching us!"
« Reply #8 on: October 01, 2013, 07:06:26 pm »
I bet he would get along famously with this waste of cellular matter:

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It’s time to gore another collectivist sacred cow. This time it’s the popular idea that the successful are obliged to “give back to the community.” That oft-heard claim assumes that the wealth of high-earners is taken away from “the community.” And beneath that lies the perverted Marxist notion that wealth is accumulated by “exploiting” people, not by creating value–as if Henry Ford was not necessary for Fords to roll off the (non-existent) assembly lines and Steve Jobs was not necessary for iPhones and iPads to spring into existence.

Let’s begin by stripping away the collectivism. “The community” never gave anyone anything. The “community,” the “society,” the “nation” is just a number of interacting individuals, not a mystical entity floating in a cloud above them. And when some individual person–a parent, a teacher, a customer–”gives” something to someone else, it is not an act of charity, but a trade for value received in return.

(snip)

There is indeed a vampire squid wrapped around the face of humanity: the Internal Revenue Service. And, at a deeper level, it is the monstrous perversion of justice that makes the IRS possible: an envy-ridden moral code that damns success, profit, and earning money in voluntary exchange.

An end must be put to the inhuman practice of draining the productive to subsidize the unproductive. An end must be put to the primordial notion that one’s life belongs to the tribe, to “the community,” and that the superlative wealth-creators must do penance for the sin of creating value. And Ayn Rand is just the lady who can do it.

http://www.forbes.com/sites/harrybinswanger/2013/09/17/give-back-yes-its-time-for-the-99-to-give-back-to-the-1/

As William Rivers Pitt put it on Democratic Underground:

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Four snipped paragraphs are not nearly enough to encompass the reality of this vomit-bag of an article. John Galt is quoted for three grueling paragraphs in the middle.

If you want to stare into the face of the enemy, in all of it's unabashedly greedy and hateful glory, I give you this.

It's so juvenile, but "Binswanger" does sound like some dirty euphemism.
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Offline TheUnknown

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Re: AIG CEO: "stop lynching us!"
« Reply #9 on: October 01, 2013, 08:47:42 pm »
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“Is that what you’re doing when you coerce someone into an economic contract that leverages their desperation against them?”

Coerce: Persuade (an unwilling person) to do something by using force or threats.

Only the government can coerce people as they’re the only ones who can legally kill you or incarcerate you. Company Stores were a product of a by-gone era and worthy of a separate discussion. Suffice it to say, company stores utilized an unfair advantage by monopolizing the local market. It was a unique condition, even for the time but is not at all representative of commerce as a whole.

Feudal Lords more aptly resemble today’s government than it does businessmen. Only government can seize your land and legally take what is rightfully yours (or your daughters). If that happened today it would be considered rape and theft (unless the government did it, then it’s called Eminent Domain or, simply, taxation).

As far as unions (et al) “balancing the scales”, that is a practice that better fits what you previously described as coercion. In a marketplace, nobody forces you to buy anything, but unions do force their employers to meet their demands otherwise they sabotage that business (if they’re not fired and replaced).

The big distinction between all of these scenarios is that the government achieves its aims through the threat of force, violence, incarceration or death. A free marketplace doesn’t operate that way. They offer a product or service and ask for a price. Pay it or don’t, you’re free either way. You, definitively, cannot be free while being threatened with force.

So you are more than able to buy into Marxist ideology, just understand that by doing so you are against freedom.

So what I got from this comment is, "It's impossible for corporations to be coercive/tyrannical because semantics."  There's actually quite a few commenters on this article who have a really hard time understanding how employers manipulating desperate people to accept conditions they normally wouldn't could be coercive even though no threats of violence are used.

Actually, reading the comment again, it seems this person goes against their own argument part way through; corporations can't be coercive because they can't legally kill, but unions are coercive because . . . can they legally kill?  So a union threatening a business unless certain conditions are met is coercive, but an employer having an employee accept a shit contract and unfair conditions because they know the know the job market is shit and that the employee knows they might not find other work isn't coercive?
« Last Edit: October 01, 2013, 08:49:20 pm by Iosa the Invincible »

Offline niam2023

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Re: AIG CEO: "stop lynching us!"
« Reply #10 on: October 02, 2013, 05:33:46 am »
Uhh, okay. Guess I am anti-freedom of the wealthy. I see nothing wrong with this.

Does that person want me to think, for some reason, that socialism is a bad thing?
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Offline Feral Dog

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Re: AIG CEO: "stop lynching us!"
« Reply #11 on: October 02, 2013, 09:33:59 pm »
Does that person want me to think, for some reason, that socialism is a bad thing?

It is, it really is! Socialism is evil and horrible and no good American wants anything to do with it!  ;)
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Re: AIG CEO: "stop lynching us!"
« Reply #12 on: October 02, 2013, 10:02:49 pm »
Uhh, okay. Guess I am anti-freedom of the wealthy. I see nothing wrong with this.

Does that person want me to think, for some reason, that socialism is a bad thing?

He's a Randian philosopher. Socialism is his definition of bad thing.
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