Audaciously Impetus Greed

I had a hard time coming with good words to describe AIG. I do hope this explains my disgust for them. To have provided poor customer service and selling bad investment products at a ridiculous premium, hence comparable to extortion and fraud, AIG has gotten itself as a perfect lamb for the slaughter.

Cuomo requested that they compensate the taxpayers with the free and luxurious lunch they audaciously took after being bailed out by the government and I think while it is ridiculous to limit CEO pay, hence not rewarding truly good CEOs, I think AIG employees should be prosecuted to set an example for this mess.

My experience with AIG. I was sold an investment product that devalued over 40%, and losing most of my retirement money. Of course, I'm young so I am not that worried, but that loss includes my dad's losses. Worst of all, it was sold to him by his childhood friend with ridiculously misleading charts showing explosive growth. While I was unable to advise my dad, I can't believe his friend would do that to him and me. And as easy as it is, one can guess it is an AIG product. I'm gullible, yes. So cheating me is easy, but if I get killed for nothing, tell me what you would do if you are the victim.

Now, that is not all to the story. To right the wrong and do my own research, I emailed them to get the disclosure of the full holdings. If something loses 40% and it's not your money, I think it is ethically responsible to give full disclosure. It is a law in USA especially with quarterly and annual reports, and why should it be different for Singapore? Such abuse must end if Singapore is to get to be a great financial center.

Although it is not fraud by law, it is definitely technical mugging of the innocents. And do I have proof of their acts? A prospectus printed recently and the emails. I wish I can find a lawyer to put this grieve to rest. Of course, I did not do that because the fees would be worth more than my loss...

And why should they have a luxurious vacation? I have not heard of a bankrupt company being able to do such a thing so it is travesty. I can't believe that one would be so disgusting as to go for such a trip knowing its taxpayers' money. And I don't think they are that good to be spared from the law.

I would say that there are always good AIG employees, but the ones that are known to public and myself are not the ones. Neither are they decent enough.