Poor AIG

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Ben Cohen
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by Ben Cohen

Matt Taibbi on AIG's new chief Robert Benmosche's incredible claim that AIG wasn't to blame for its own meltdown, and that it was in fact the government's for not regulating them properly:

The Benmosche interview proves what most of us have long suspected,
that the trip these Wall Street dickwads all took to the financial
woodshed last year has taught them absolutely nothing. They believe
implicitly in their divine right to make gigantic gobs of money, even
if that money has to be borrowed from all of us, even if it means the
entire financial services industry has to be backstopped by government
guarantees. And the sad thing is that even a brief sojourn in the
desert of fiscal modesty might help not only politically, but help them
not suck at their jobs so much — but they don’t want to hear it. They
just don’t get that it’s exactly that hunger for big individual
compensation that turns ordinary sane people into Joe Cassanos and Win
Neugers. I mean, the clock hasn’t even struck a year on AIG’s bailout
yet, and this clown is already whining in public that the
government isn’t letting him pay out giant bonuses.The level of
cluelessness necessary for a move like that is off the charts, like
Stephon Marbury-level insane.