To Ed Liddy (AIG CEO),I understand that you received $40B from TARP in November, and are now set to receive an additional $30B. More bailout money has gone to your company than any other thus far, and even more may be coming your way.
As an individual American taxpayer, I alone have sent you $700, effectively paying your bill for the amount of marble flooring visible in this photo of your office building's lobby. It just so happens that I was in the middle of renovating my bathroom when I received the bill for your marble, which means that I can no longer afford to finish my own project. I had set aside the correct amount to finish my bathroom floor, but did not count on having to pay for yours first. Thanks to your incompetance, I will be without a bathroom for the next year, and am therefore writing to ask that you leave your facilities open to me 24/7 until I can recover from the burden of having to pay your bills.
Thank you for your cooperation.
Sincerely, Al Smith
.....
P.S. - Considering your company lost $61.66B this quarter, don't your executives have anything better to do than hang out in the lobby posing for photos?
7 comments:
FUCK U AIG!
Give me back the money you big piece of insolvent junk!
I bet they paid a lot more than $700 for the marble tiles visible in that photo... They probably spent more than that just having them waxed.
Probably, but in that case, then we'd like to believe that we paid for the marble and you paid to have them waxed. That way, we have a tangible asset.
It brings up an interesting question... if we were to go to the AIG building with a crowbar and start taking our tiles back, could we be arrested? If yes, then what if we brought our tax receipt showing that we paid for them?
We'd have to pay $50k in legal fees to cut through all the red tape before we could get at our tiles.
GLD is back at support. An up day for GDX tomorrow produces a buy signal. Even if it goes up just one penny! But the 50dma on GDX will offer strong resistance. I'm seeing a convergence on GDX coming up in about a week. I predict that GDX will make a run to 32.50 and then drop down to about 29 by next wednesday. If GLD follows that same pattern it will be nears its 50dma ($88) around the middle of next week. If that scenario plays out, I'm not sure what it will mean for equities. At this point I'm hoping for inflation to start hitting hard in the next few weeks. That is the only thing short of an act of God / ET / SpaghettiMonster that can really put in a bottom for the DOW.
Carl Icahn forgot to factor in the SpaghettiMonster, and he's down over 60% on the year.
It appears to me that when the President or the Treasury makes a move, the market pukes. When the Ben or the FED makes a move, the market breathes a sigh of relief and calms down.
http://finance.yahoo.com/news/Fed-launches-new-200B-apf-14524577.html
Hi - I'm working on a feature film documentary, and sent your AIG letter to our executives because I think it's:
1) hilarious
2) such an great way to show how we're all losing out because of the bailouts.
If you have time, it would be fantastic to hear from you, and I can certainly tell you more about the project! In a nutshell, it's about the financial crisis, and it will appear in theaters nationwide.
The executives, by the way, loved the letter. We're in the process of shooting, and it would be terrific to email/speak with you whenever your schedule allows.
Thanks so much!
Karey
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