{"id":192587,"date":"2009-03-16T18:52:00","date_gmt":"2009-03-16T23:52:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/16\/i-think-that-these-financial-machinations-qualify-as-financial-terrorism\/"},"modified":"2009-03-16T18:52:00","modified_gmt":"2009-03-16T23:52:00","slug":"i-think-that-these-financial-machinations-qualify-as-financial-terrorism","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/16\/i-think-that-these-financial-machinations-qualify-as-financial-terrorism\/","title":{"rendered":"I Think That These Financial Machinations Qualify as Financial Terrorism"},"content":{"rendered":"<p>It appears that there is a reason why Lawrence Summers seemed to capitulate to AIG&#8217;s bonus contracts for its financial products division, as <a href=\"http:\/\/40yrs.blogspot.com\/2009\/03\/not-enough-bullets-aig-yet-again.html\">I mentioned yesterday<\/a>:  They <a href=\"http:\/\/emptywheel.firedoglake.com\/2009\/03\/15\/the-semtex-in-the-aig-retention-contracts\/\">specifically wrote the contracts so that the counter-parties could consider it a default and demand an immediate payment if they did not get their bonuses<\/a>.<\/p>\n<p>So, basically, they wrote blackmail terms into their contract, which seems to me a awful lot like a sysop writing a back door into the computer network, and <span style=\"font-weight:bold;\">at least as illegal<\/span>.<\/p>\n<p>With the <a href=\"http:\/\/www.guardian.co.uk\/money\/2009\/feb\/12\/insurance-regulators\">Serious Fraud Office in the UK investigating them<\/a>, as well as <a href=\"http:\/\/dealbook.blogs.nytimes.com\/2009\/03\/16\/cuomo-seeks-aig-bonus-information\/?hp\">New York Attorney General Andrew Cuomo investigating their bonus<\/a>, I think that the best alternative at this time is for American authorities to seek their extradition under the terms of the recent treaty.<\/p>\n<p>I think that though of facing the United States generally inhumane prison system will have them folding like overcooked broccoli for the privilege of spending a few years in a British prison.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It appears that there is a reason why Lawrence Summers seemed to capitulate to AIG&#8217;s bonus contracts for its financial products division, as I mentioned yesterday: They specifically wrote the contracts so that the counter-parties could consider it a default and demand an immediate payment if they did not get their bonuses. So, basically, they &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,969,1004,964,972,985],"tags":[],"class_list":["post-192587","post","type-post","status-publish","format-standard","hentry","category-corruption","category-evil","category-finance","category-foreign-relations","category-justice","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192587"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192587"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192587\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}