God Forbid; Take a Lesson from a Review of the AIG of Yesterday and Today?

 

The Comparison

 of

 The AIG of Yesterday to the AIG of  Today?

   

Prefacing Comment to the Letter Below:

Today I am taking a look back at a short letter which I sent out two years ago regarding comments which I made in the wake of a very controversial AIG compensation party which was held at an all-inclusive luxury resort hotel.

Rather than cancel this gala event (as a matter of  consideration  in good taste) this compensation party went down …as scheduled, shortly after the TARP legislation was passed by Congress.

As much of an affront as to what obviously was obviously perceived as popular public opinion and or angst, all hell broke out in Washington in the wake of such an untimely ironic and paradoxical opportunity to celebrate AIG recipients in light of their most recent performance successes ….for that brief period of time just prior to the burst of the housing bubble.

This is like receiving kudos for having won the last battle prior to losing the war.

None the less, on March 18th, 2009, in typical knee-jerk …pandering form and fashion (in the wake of the passage of TARP) Congress responded ironically with its own form of oxymoronic cash-bashing …taking every opportunity that every media outlet could have possibly afforded …those representatives who chose to participate did so holding nothing back in showing their bitter regret for having release so much with so little restraint.

Mel Brooks couldn’t have said it better, when …as the Governor in Blazing Saddles, he said; “…we have to do something. We have to save our phony-baloney jobs.”

And by every measure of compare which was no-less generously showered on AIG the employees …likewise, the zealot members of Congress egregiously responded in joining in a mental mindless, media-driven, politically- steered grandstanding emotional frenzy of blame and shame …in all their finger pointings’ posturing.

And in every fickle-finger foray’s measure of angst which could be mustered, each representative took the opportunity in their turn and gladly danced upon such a stage as the media had afforded them.

Such as it was   …their side-stepping, toe-tapping, triads of unrelenting shame and blame-filled ranting left me with no doubt that such charades were merely intended to serve as an opportunity for them to seize and engage in any sleazy and unscrupulous means’ chance so as to (above all) avoid having to take any responsibility for having had a hand in making this mess in the first place.

As it were, I sent out an e-mail which is a form of the letter which I have, now pasted herein below.

Today, two years later …I believe that these subjects are worth revisiting to remember HOW the topics which surrounded, enveloped and preoccupied so much of the media’s attention in one story after another …at this particular time hindered …rather hastily hindered more than helped to focus time, money and energy upon more promising causes …those which should have borne fruit in seeds in a more timely cost effective manner.

As such, this introductory period’s waste of time could have and should have sown its wasteful efforts into fields more oriented toward solution in fields which should have planted a crop whose purpose it should have otherwise been oriented at unifying and bolstering America’s efforts to maintain the bond of peace for and within that which would cause and build service to liberty’s sole sake “…We the People …” more than we the political side steppers …toe-tappers …rather than otherwise was the case avoiding a more egregiously lost opportunity to take responsibility …honing up to the   reality for having been …asleep at the wheel.

God forbid that that should still be the same case today.

 And for one reason or another, those issues which preoccupied and permeated …and coyly misled, misplayed and resulted in building the pitiful American mindset at the time  …if, but for only a brief time span …encompassing merely a matter of weeks or so …NOW, might it not serve a more useful and sobering purpose …to make a review worth the look back?

 So, now …with the passage of two years’ time; I have to wonder how much honest esteem for such calls’ greater discretion remains …that is; any more than a “…Whatever …” mindset?

And so, now I am wondering what of any significance …has changed in the last two short years which may have passed over to cover up this subject’s matters and concerns?

Are the seeds of such concerns still growing?

 Have such produced any fruit multiplied 30, 60 or a hundred fold?

Or is this a mute case of an old story gone passé in the wake of the Gulf …and now Japan? (They shoot horses; don’t they? How about Boy Scouts?)

Or did the seeds of blame and shame fall upon more than fertile ground …upon more futile stages or self-serving interests …merely failing to produce the needed wisdom in any significant abundance which would …could …and should otherwise better serve the greater interests of all …securing a more watchful guard over liberty and justice for all?

What work is worthy of the fruits harvested in the fields of immediate gain if such is that which profits so few simply by taking the lazy and mindless course of political grandstanding within the context of shame and blame?

None worthy save the hangover …or the illegitimate consequence unprofible that is …no?

If so, wouldn’t it follow that these more immediate pursuits will easily and soon be forgotten, yes?

Then, why not remember these shortcomings and …compare their woes’ measures’ lessons so as to take from them and their shortcomings …a measure of a greater appreciation for a work whose wisdom and ethics’ esteem is capable of producing mindful pursuits …those which also produce meaningful fruit?

So, then …in means and measures far more productive …looking back is intended to look at that which is intentioned to grow from long-lasting, applicable understandings within efforts …less lazy; why not embrace a look back in a meaningful comparison …if not merely to remember what preoccupied our minds …if but for such a short time?

Therefore, in such a comparatively relative short period of time, I have to ask what has Congress to show for the passage of its time …in service to raise due diligence to a level …which is worthy of serving to provide greater oversight and higher …more nobler …more honorable levels of responsibility …and adherence to corporate governance in performance systems which demonstrates consideration for the priority of far more nobler assurances …those which strive to achieve to promote quality leadership by reason of adherence to high standards, transparency and the clarity of honest, open-door accountability?

In other words, other than our collective votes; what other enhanced ways and means of oversight has America accrued that serves to speak of improved achievable measures of oversight, safeguards …in openly improved levels of transparency?

That is to ask for an answer …in a solution which lies outside of a collective unified vote.

What above such as this are we promoting in the meantime?

Above all …I hope America is not promoting something somewhat …whatever which is less supportive of such?

For known …I honestly do not know, for I have not much lately so often heard mention of that which emphasizes openly such esteems.

Yet, in contrast …not long ago, there were calls for such every day …in almost every conversation ….transparency …openness …oversight …due diligence   and the likes which make for accountability.

So, where are we today in terms of our esteem and pursuits of that which promotes and supports the needed means and interests of the necessary means to achieve such transparency’s oversight and accountability?

Can anyone explain these answers in a comprehensive manner which speaks to leadership by example …any more than Congressman Paul Ryan?

Now there is a man with a message and the ways and the means …backed up by the will and good faith testament of “…We the People …!”

Therefore, I ask; what are we now pursuing moreover that which was so obviously lacking …in the wake of our failings whose pain may have sadly gone sooner forgotten than stirred and remembered if but only to serve better pursuits and means?

In this regard, I would hope to believe that America is more willing and able to take a heart in this tough, rather sobering history lesson…and so act in a more nobler manner …for, who would dare welcome yet one more opportunity if that opportunity was hell-bound and bent on repeating it?

God forbid!

The following  is  taken from a letter I refered to which I wrote; March 18th, 2009    

 

 A Compromise Worthy of Consideration

Deferred AIG Bonuses  

Based Upon Performance

Stimulated with Cost Saving Incentives

 

 Regarding the AIG issues surrounding its controversial payment of bonuses to its executives and staff …I have to call for a time out.
 
There may be a compromise to the shame and blame game in which Congress is so engaged.
 
There may be a better way of side-stepping the responsibility Congress gave up as …without so much of a second thought …in much the same ways and means they also simultaneously dolled out so much money …mush of which was without condition nor accompanied by  a single stipulation.
 
There may be a better way to …with greater forethought …this time around …address the issues Congress is trying to alleviate without having to levy a grandstanding …heavy-handed play on its electorate’s respective angst.
 
There may also be a better way which also provides AIG to save face as well as retain its highly touted invaluable workforce …one which they claim are the only ones capable of unwinding this mess Congress claims they single handedly are responsible for creating.
 
Thanks to Congress’ creative insights; Kudos are due all around, but for what …dolling out as much blame and shame as cash?  What does this sort of an egregious avoidance of responsibility serve …save still more shame and blame?
 
Please? Lets have some solution which is beneficial …one which builds up …rather than tears down …one which serves all rather than one which is self serving …more than mere grandstanding.
Such a finer, more worthy solution would …
 
Simply defer the bonuses, and re-craft them to provide foreword looking payments …incentives which would be better serving of a time-moderated, time-metered, recourse-leveraged, performance-based solution which resembles more that of ownership.  
 
Such a time-deferred, pro-forma, metered, and time-tiered, pay-per-performance bonus plan would build merit-based reflections of ownership responsibilities in an incentive system based upon the proof of what is likely and worthy of achieving actual performance.
 
Such a compensation plan does more than merely pay. Such continues to do so with an eye on successes whose oriented interests are honestly earned, and or punished (claw-backs not withstanding) and thus …serve Congress, the tax payer, as well as AIG execs and their staffs …as well as those with whom they do business …long into the future.
 
Furthermore, such bonuses, as my investment advisor suggested …could be based upon a sliding scale which could include a mix of both cash and stock.
 
That’s a compromise far more equitable and worthy …more than that which Congress’s typical lack of forethought has proposed thus far. Such is one proposal which is far more promising than the knee-jerk mindless, impulsive grasps at  shame and blame.
That’s a wrap.
Now, good luck with the Chinese on Cap & Trade re: Treasury Sales.

For, they have no interest in one …and they are quickly losing interest in the other.

With all the best of priorities,

Bill

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