Monosyllabic Pedantry

Thursday, March 26, 2009

Paying Protection Money

It'd be shame if anything was to happen to you or your family.

An email from the head of a controversial unit at AIG suggests employees who gave up their bonuses did not do so voluntarily, but feared their names would be released if they did not.

The email, obtained by CNBC, states the following: “Please be aware that we have received assurances from Attorney General Cuomo that no names will be released by his office before he completes a security review which is expected to take at least a week. To the extent that we meet certain participation targets, it is not expected that the names would be released, at all.”

(See the email here).

The email, dated Friday March 20th, is from Gerard Pasciucco, the individual hired by AIG CEO Edward Liddy to wind down the controversial Financial Products division — the division which caused the near collapse of the global financial system — and was sent to employees of that division.

In a Monday night news conference with reporters New York Attorney General Andrew Cuomo said that releasing the names would be in the interest of explaining to taxpayers how their money was used—and that if the money were returned, it would severely diminish if not extinguish the need to release the names.

When asked by the reporters if there was any implied threat in Cuomo's request the employees return the money he said, "I do not threaten, nor do I use strong language."

Let's not forget that this is happening alongside bus loads of angry mobs activists showing up at the homes of these same AIG employees.


AIG Employees getting letters threatening harm to them and their kids.


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