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Congressman calling for hearings on AIG Phoenix conference

UPDATED VIDEO WITH CEO's RESPONSE: An ABC15 investigation has Rep. Elijah Cummings calling for the resignation of AIG's CEO because of a breach of trust.

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AIG supporter - 11/17/2008 12:34 PM
Josh, Just a couple of items worth pointing out on your various stories: 1. Are you aware that Jim Cramer on CNBC spent almost 7 minutes trashing AIG and encouraging the public to harass AIG employees if they ever come across them whether at a ball game or at the supermarket. He then issues a half-hearted apology after the AIG CEO wrote a letter shaming him. While this was an independent advisor event, perhaps that is why AIG was trying to keep a low profile for the few employees who did attend. 2. for the 503 million in executive compensation, this is money that employees, not just execs had the right to defer over the years. The plan operates similar to your 401k without company match and does not offer the same protections in the event of a company bankruptcy. The only way to access the funds is to retire or leave the company. If AIG did not terminate these plans, the employees (again, not just senior executives but middle management and sales people) would leave the company. This money was contributed by these employees prior to any government bailout. 3. Have you considered the fallout to the AZ resorts who rely on various companies to hold events in your state? How about the employees in those industries? How about a story in a few months about the decline in business that your state will have? 4. AIG spent 23k on a conference with advisors who gave it 230 million in business. Pretty good use of my taxpayer funds, if you ask me. The more business that AIG sells, the more they can sell their subsidiaries for and repay the government. 5. Poor past senior management and a division of less than 500 employees destroyed this company. Over 100,000 employees had nothing to do with the products that causes this mess. Keep that in mind as you keep up your attacks. 6. Give Ed Liddy a chance. He has a hell of a job to do and has been at it for two months. He will get the job done.

brownie - 11/17/2008 4:31 AM
Everyone of us is getting exactly what WE deserve. WE bought things we didn’t need, things we couldn’t afford because we wanted them when we wanted them, not necessarily needed them. When are WE going to take responsibility for our actions? If WE are unwilling to be accountable, how can we expect our government, AIG, Freddie Mac, Fannie Mae, et al, to be held accountable? WE elected the people who voted for this bailout, now WE are whining. What is wrong with this picture? We will simply be treated the way we allow people/financial industries/government to treat us. Still, WE must take responsibility in buying the mortgage we doubted we could afford, charging “things” on the magic “I-can-get-it-now-and-pay-later” card, and electing officials that lobby for big government. And why are we pointing the finger at AIG? They offered a service, and consumers bought their services. Now WE are complaining. I simply cannot accept that WE do not have brains. When we were offered what we wanted, we took the goods. When things went amiss, it’s not our fault. Let’s point the finger at someone else? Everyone involved, the corporations AND the people, must accept the liabilities we have created. If someone offered me millions of dollars to do a job, I certainly would not turn it down. I have to work for a living. I would love to offer my family financial security. So why are we so critical of anyone who works the system? WE created the system by electing the people who make the rules of the system. I recognize there are many things in play here that I do not understand, but the one thing that I keep coming back to is responsibility and accountability of every person, government official, and corporation. When did morality and ethics become passé? When apathy and the outstretched hand set in? We have the duty and privilege to become involved. However, let’s look at ALL THE FACTS, not just the ones that support our angry feelings.

ladyhawk415 - 11/16/2008 7:42 AM
If Rep Cummings wants to hold hearings on this, have at it, but the only Congressmen allowed to sit on the committee would be those that voted against this government blank check. Hey, while we're on the subject of the bailout, does anyone know if little Johnny in Oregon is happy with his arrows now?

ladyhawk415 - 11/16/2008 7:42 AM
If Rep Cummings wants to hold hearings on this, have at it, but the only Congressmen allowed to sit on the committee would be those that voted against this government blank check. Hey, while we're on the subject of the bailout, does anyone know if little Johnny in Oregon is happy with his arrows now?

usaisgay - 11/15/2008 11:02 PM
I think its time to assassinate the ceo of aig. Along with the idiots who passed the 200 billion dollar bail out that your childrens childrens children will being paying for long after we are gone. Great future planning, idiots. At that rate, why even bother having kids as its just an act of cruelty.

T Carl - 11/13/2008 9:56 PM
Conferences for Representatives in the securities industry serve the same function as advertising for the auto industry. These are necessary to run a profitable business. I suppose the bozos in Washington will tell General Motors they can no longer spend taxpayer money to advertise. That will sink the company for sure. People shouldn't try to run things they know nothing about.

dcshobe - 11/13/2008 9:37 AM
Go SuperDave your so totally right!

SuperDave - 11/13/2008 8:03 AM
nelle and others are what is wrong with people today. They want gov handouts, gov bailouts and gov this and that. You all better start relying on your own resources or you will be living under a bridge in an appliance box.

phxcable - 11/13/2008 5:20 AM
Your report is grossly inaccurate, misleading and negligent. Instead of apologizing for mistakes in your NBC 15 broadcasts on AIG, you continued to air the inaccurate story for a week. I understand you want your investigative reports to be sensationalized however they should no mislead the public. AIG Phoenix Employee

L Suterland - 11/12/2008 2:58 PM
The CEO should pay back society by_ 1. Live in a homeles shelter and serve the homeless 2. Serve meals at the soup line 3. Prepare meals at the soup kitchen 4. Do a 12 step program (greedy behaviour)



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