Thursday, April 2, 2009

"Blame Game" - a.k.a. The AIG Truth

The doublespeak used lately, when someone wants the truth covered up, is to call the proceeding "the blame game".

Even though that is what the third part of our government, the Judicial Branch, commonly called "the Courts", do each and every day.

That is, if they are to obey our US Constitution.

Yes, when a crime against the people is committed we do the "blame game" as the republicans in the House now want to call it.

But the better term and the traditional term for it is "justice".

It is high time for the robber barons talk with a jury about the AIG "problem

The republicans do not want Maurice "Hank" Greenberg, past CEO of AIG for 35 years up until about 2005, to testify.

That tells me immediately they do not want him to expose and share the truth.

Greenberg submitted a written statement or "prepared testimony" in 2008.

It reveals that his successors are the ones actually responsible for AIG’s recent demise.

He said, among other things, that:
“When I left AIG, the company operated in 130 countries and employed approximately 92,000 people,” Greenberg said.”Today, the company we built up over almost four decades has been virtually destroyed.”

Greenberg said that AIG “wrote as many credit default swaps … in the nine months following my departure as it had written in the entire previous seven years combined. Moreover, “unlike what had been true during my tenure, the majority of the credit default swaps that AIGFP wrote in the nine months after I retired were reportedly exposed to subprime mortgages.”
(House Committee on Oversight and Government Reform, PDF 10/7/08). I find this to be entirely believable, and that a protege of Michael Milken, one Joseph Cassano, is the place to focus the "blame game".

Cassano's mentor, the fraudster who went to federal prison after "earning" the title "the junk bond king", taught him what he applied at AIG after Greenberg was forced out of office. Yes, forced out under questionable pretences so that the robber baron operatives could savage AIG.

We exposed and set this out here, here, and here, and we complimented ABC news for covering the same focal point.

Yes the most likely source of the financial catastrophe is obvious but so far no one has the courage to expose it completely.

The lackey House republican minions, clearly on the robber baron payroll, are whining that these robber barons need a tax cut not justice.


  1. There's a wonderful Rolling Stone article by Matt Tabbi, which goes into some detail about how Cassano's operation eviscerated AIG.

  2. Anonymous,

    Yes, it was written 3/19/09 ... we started our series on where the roots of AIG go on 3/11/09 with the expose on bailout money going to Dubai UAE ... we then expose AIG Dubai and Switzerland ... the links in the current article will take you all over the world ... like Dylan said in a lyric "there's so much oppression ... can't keep track of it any more" ... thanks for spreading the info ...