Mr. Jake DeSantis, an executive Vice President for AIG wrote an editorial in the New York Times today.
Take this job and shove it, Mr. Liddy, says the former top executive. Mr. DeSantis will give his bonus, i.e. our taxpayer dollars, to those suffering from the "global economic downturn."
After 12 months of hard work dismantling the company - during which A.I.G. reassured us many times we would be rewarded in March 2009 - we in the financial products unit have been betrayed by A.I.G. and are being unfairly persecuted by elected officials. In response to this, I will now leave the company and donate my entire post-tax retention payment to those suffering from the global economic downturn. My intent is to keep none of the money myself.
Um, Mr. DeSantis, dude, you don't get it. That money is not yours to give.
W. sure was well versed in the fuzzy math for which he had ridiculed Al Gore back during the 1999 Presidential campaign cycle. Between the removal of all regulatory checks and balances, coupled with the failure to include all of the federal spending dollars in the national budget, the American people, yet again, have been misled, swindled and scammed by the Bush Administration and his Republican Party.
Thanks to the sources cited in my most recent diary on the make believe of trickle down nothing economic black magic, we are reminded that Phil Gramm, while serving in the U.S. Senate, had engineered the dismantling of the Glass-Steagall Act in 1999. The Glass-Steagall Act had been passed in 1933 as a means to stem the wild and rampant speculation of banks that led to the Great Depression.
This is a work in progress, folks. The updates follow at the bottom.
Next time a politician extols the virtues of trickle down economics put your hands over your ears and yell NO, NO, NO. Whether they know it or not, any politician who pitches the spin that unfettered fat cat wealth will trickle down to the masses is lying. Nothing is trickling anywhere. The fat cats are not spending their gazillions. They are hiding and hoarding their money for themselves.
It seems that the biggest fat cats of them all in this country and others, those who despise paying their taxes above everything else, have found safe havens in which they have hidden their treasures from the feds. A once renowned Swiss bank helped them do it. The whistle blower who outed the scheme at a U.S. Senate hearing last July, had feared for his life. He now lives in a
witness protection program. The article reveals how the Senate hearing had all of the trappings of a Mafia movie.
Kieber, declared a fugitive by Liechtenstein, is living in an undisclosed location, reportedly as part of a witness protection program, after providing information to government officials in England, Germany, the United States and other countries on their citizens who hid billions in wealth through the bank. The German government has admitted to paying him millions for the data.
In his videotaped testimony, Kieber described stumbling across the bank's secrecy schemes while working on a document conversion project several years ago.
"Going through thousands of documents. . . I got the very clear picture" of the "tricks" employed by the bank to help clients dodge tax collectors, creditors, even "international law enforcement agencies," he said.
