AIP and Sarah and Todd Palin I want answers!! n/t

[4 t 4]

[4 t 4]

1. Why are you people not responding

to this but "Do you remember Velveeta" got like a million responses?????

[No Passaran]

2. Sarah Palin is not here

[4 t 4]

4. What doe's that have to do with ANYTHING!!!

[4 t 4]

3. OMG! even on this site I feel so alone!!!!!!!!!

[seemslikeadream]

5. ok I'm in what's going on with AIG and Sarah I know a lot about AIG

Enron (Destruction of evidence. Involvement of AIG)
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=92675&mesg_id=96543
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=97281&mesg_id=97286
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=97281&mesg_id=97290
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=97281&mesg_id=97293



AIG-FP was founded as a partnership between Hank Greenberg of AIG fame and Howard B. Sosin who was also a trader at Drexel



Cassano was a protégé of A.I.G-Financial Products' first leader, Howard B. Sosin. Both men joined the insurance company from joined A.I.G. from Drexel Burnham Lambert, the Wall Street firm that grew into a junk bond powerhouse thanks to Michael Milken. Drexel collapsed in 1990.

Three years earlier, A.I.G.-Financial products was created as a joint venture between Greenberg and Howard B. Sosin., a former trader from Drexel.

Known as the "Dr. Strangelove of Derivatives," Sosin was regarded as a quantitative genius. He wrote scholarly articles on derivatives and briefly taught at Columbia Business School. Indeed, his inventive wizardry extends beyond the world of finance. He has registered numerous patents, one for a golf club that accomodates a golfer's special swinging style.

In his new job at AIG-Financial Products, Sosin he was given an unusual deal: a 20 percent stake in the unit, and 20 percent of its profits.

Under Sosin, the unit dived deeply into the nascent world of derivatives. It later branched out into energy, currencies, and commodities, and bought assets from cattle to the London City Airport.

But the fast-dealing culture caught Greenberg's wary eye. By the early 1990s, Greenberg, who ruled the company with an iron fist, had grown so concerned about the unit's derivatives dealings that he formed a secret "shadow team" of traders to mimic A.I.G,-Financial Product's trades, according to a former company executive.

(...)

The C.E.O. ordered Sosin to dial it back, but Sosin refused. He left the company in mid-1993 and sued A.I.G. He later received a payout of over $180 million from A.I.G.

(...)

http://www.bnet.com/2459-14037_23-237553.html



So Hank Greenberg's story that he trust his successors make sense, because he didn't trust that London unit. So with Greenberg out of the way, Sosin's protege finally had his hands free...

However the name Drexel is familiar:



Early years of J.P. Morgan

Morgan entered banking in 1857 at his father's London branch, moving to New York City the next year where he worked at the banking house of Duncan, Sherman & Company, the American representatives of George Peabody & Company. From 1860 to 1864, as J. Pierpont Morgan & Company, he acted as agent in New York for his father's firm. By 1864–72, he was a member of the firm of Dabney, Morgan & Company; in 1871, he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company.

During the American Civil War, Morgan was approached to finance the purchase of antiquated rifles being sold by the army for $3.50 each. Morgan's partner re-machined them and sold the rifles back to the army for $22 each. The military knew it was buying back its own guns, so the so-called 'scandal' turned out to be more about government inefficiency than any chicanery by Morgan (who never even saw the guns and acted only as a lender). Morgan himself, like many wealthy persons, including future Democratic president Grover Cleveland, avoided military service by paying $300 for a substitute.<1>

After the 1893 death of Anthony Drexel, the firm was rechristened J. P. Morgan & Company in 1895

(...)

http://en.wikipedia.org/wiki/J._P._Morgan



So what event involved London and J.P. Morgan as well? Wasn't that the Great Depression of 1929 ...