The Jan 27 "Letters to the Editor" section contained 3 letters from Bank of America shareholders who "got mugged" by Ken Lewis et al @ Bof A. Yet the Wall Street Journal chose NOT to publish letters from us AIG shareholders who were mugged even more by AIG's former and current management, directors and auditors and corrupt employees who participated in the fraud that destroyed this former billion dollar corp. Are you of the same mindset as former Secretary Paulson who is on the record for "wanting to punish AIG".?? Just whom is he punishing??
"Caveat Emptor Est" seems to be your assessment of the AIG shareholder's position. Would you say that about Lehman, Merrill Lynch, Wachovia, WaMu. et al shareholders who have suffered from the mismanagement, malfeasance and ineptness of these corporations?
There were 56,500 shareholders of record in YE 2007, but that number includes private and public pension funds with membership numbering in the tens of thousands, so that the total number of victims in this fiasco may well be in the hundreds of thousands. Who represents our interests? Whatever happened to the common shareholders "Bill of Rights"?
The Fed now owns nearly 80% of AIG and has priority with respect to dividends, debt repayment and shareholder rights. Paulson and Bernanke dictated these terms without any common shareholder approval. They established a class of Preferred shares without giving us "muggees" a say in this matter. These Emperors set the rules and we commoners must obey. "Sic transit Gloria".
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The successful theft
of what was once the worlds largest insurance company.
About
This blog exists for one simple reason: AIG was stolen from its shareholders and nobody seems to give a damn. While the press sheds many a tear over Citibank, Bank of America, Merril Lynch, Morgan Stanley, WaMu, Wachovia to name but a few, there has been virtually no ink spilled concerning the plight of the shareholders of this once great corporation. And most recently we have had endure B. Madoff being vilified not just by the press, but by prosecutors. And yet, the $50B that Madoff is accused of losing on behalf of his investors is far less than what has been lost by AIG shareholders.
Where is the prosecutor seeking justice for AIG shareholders? Where is the SEC? Where is the WSJ, FT, NYT?
This blog will tell the story of the demise and theft of AIG through the eyes of its shareholders. We encourage you as shareholders to send us your story. We encourage AIG employees and government regulators to spill the beans and fill in the blanks.
Let our voice finally be heard.
Where is the prosecutor seeking justice for AIG shareholders? Where is the SEC? Where is the WSJ, FT, NYT?
This blog will tell the story of the demise and theft of AIG through the eyes of its shareholders. We encourage you as shareholders to send us your story. We encourage AIG employees and government regulators to spill the beans and fill in the blanks.
Let our voice finally be heard.
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