The Top Of The Pyramid

[kentuck]

After hundreds of years of secrecy and manipulations, the capitalist scam is finally being exposed. With characters such as Madoff, Greenberg, Rubin, and others still in hiding, the top of the pyramid has been opened for all to see.

Most of us are familiar with the Madoff scheme. At one time, he was in control of about $80 billion dollars in assets. Even the government of Israel was scammed by this huckster.

But who is this Hank Greenberg character? He appeared before a House Committee this past week to answer a few questions. He was the former head of AIG. He appears to be about 80 years old? Perhaps age is why he left AIG?

However, when he left AIG, he took $20 billion dollars with him. He set up an organization called Star International or SICO. It was set up as a charitable organization. But it was reported that they only gave .0005% to charity? But he admitted that one of the functions of SICO was to give bonuses to individuals in organizations like AIG. Why would they be in charge of giving bonuses to worthy executives? What did they get in return??

What we see is the inner working of our present capitalist system. Madoff and Greenberg appear to be the experienced icons of the "system"? Their successors are folks like Robert Rubin at CitGroup and the folks at Goldman Sachs and other big banks. Maybe even folks like Larry Summers and Timothy Geithner?

This is the complex world in which we are operating. They are holding all of us hostage. Give us all your money and your families and your jobs will be saved. What choice do we have?

[leftofthedial]

1. The whole thing (or at least the part of it not represented by a tangible good)

is an elaborate illusion.

Every generation or two, we need a "crash" so that the thieves at the top can clear their books before the scam is exposed.

[kentuck]

2. That "illusion" is part of the secrecy...

and the illusion is being shattered at the corners...

[dixiegrrrrl]

3. It's called the "mob" and it's called "money laundering"

Pure and simple.

edit: spelling

[Terry in Austin]

4. We got all the money! We won!

Game over! ...?

Capitalists... even if they knew what they were doing, they wouldn't know what they were doing.

:spank:

[Hannah Bell]

5. I believe Starr International predated the exposure of problems at AIG, & isn't a charity.

Starr International Co. Inc (SICO) is a private investment holding company incorporated in Panama in 1943, and holds approximately $20 billion in assets world wide. It is run by Maurice "Hank" Greenberg, former chief executive officer of American International Group who now also heads C.V. Starr & Co.

http://www.insurancejournal.com/news/national/2007/10/03/83987.htm


History of AIG, Fortune 1935

http://www.earnshaw.com/shanghai-ed-india/tales/library/fortune/t-fortune3.htm


http://www.salon.com/tech/htww/2006/12/11/dubai3/print.html

"It was founded in Shanghai in 1919 by an American insurance agent with the glorious name of Cornelius Vander Starr (who, by the way, was the uncle of Whitewater prospector Ken Starr)."

*I've tried to verify this claim by looking at Ken Starr's genealogy but haven't been able to so far...

[kentuck]

6. Yes.

Greenberg did say that Starr International predated AIG. But he said it was a "charitable trust".

[Hannah Bell]

10. Do you have a link? Not meaning to start an argument, but it's listed in financial pages as

a business founded in the 40s. So if it's now a charity, I'm interested in the backstory.;

[kentuck]

11. Well, those were the words from Greenberg's own lips...

on C-SPAN this morning.

[Hannah Bell]

13. interesting.

[Democracyinkind]

7. Let's talk about the "old boys" and why certain people prefer

... " American Intelligence group" to "american insurance group"... With AIG we have come to the very core of what is wrong with our interlocking elite. Conspiracy minded people might also enjoy the ongoing rumors of big-time drug running thru the AIG's fleet of planes....

[kentuck]

8. When conspiracies become reality...

it may be time to put aside some of our old biases?

[Democracyinkind]

9. I've put them aside ever since I realized Bush Sr. called the FBI

to tell them he had a suspicion about the Assassin of JFK.

That does not mean that I believe we are ruled by reptilians.
It just means I'm ready to consider that the world is built upon back door deals, rather than a genuinely democratic process.

[Fire1]

12. Absolutely!!!! The problem is US. When everyone is thriving,

prosperity reigns above all else and apathy and/or contentment prevails.