Anyone who has read Liar’s Poker or any number of insider accounts of major Wall Street firms knows that the big problem with the banksters isn’t merely that they’re greedy. Rather, it’s that they’re spoiled, entitled pricks who absolutely refuse to own up to their own personal failings. This attitude can be seen in these amazing transcripts where AIG traders lash out at the very taxpayers who saved their pitiful asses from being tossed out on the street:
The employees said that the corporate leaders who had driven the firm into the ground were already gone from the company. Those who had remained behind to help clean up the mess and repay the taxpayer bailout were due their compensation, they told Pasciucco.
“You made a commitment to us, and we made a commitment to you. And for anybody to look beyond that, as the politics and the media are at the moment, is missing the point,” said an employee. “You can’t expect us to just roll over and ignore that commitment because there is a bunch of immoral bigots that intend us to do something different. It’s not going to happen.”
Another was even more irate, lashing out at the public for scapegoating AIG employees. “To be honest with you, I really hope it blows up. I think the U.S. taxpayer deserves to lose a trillion dollars over this thing for the way they have behaved.”
And then he turned on politicians who had joined the anti-AIG posse. “They only care about the next election, just like we only care about the next bonus. Well, none of them cares about the country, none of us cares about the institution,” he said, adding: “They really don’t care, and I really don’t care. And frankly, if a trillion dollars gets lost, fine.”
The AIG retention bonuses have rankled many in the public because the company has received a federal rescue package of about $180 billion in loans, stock investments and other commitments from the Federal Reserve and the Treasury Department. Closing down AIG Financial Products’ trading portfolio has been vital to stemming further losses and repaying the public money.
My general reaction: Just quit, you assholes. Try taking around your résumés to other firms if you’re so convinced in your own inflated sense of self-worth. But this is just a guess — when you go in for an interview with another company, having five years’ experience of selling credit default swaps in AIG’s Financial Products division isn’t going to help you get a job. Shit, I wouldn’t hire you to vacuum my rugs or take out my garbage. Because in the end I don’t think that you guys possess any real skills that are useful outside of your own little bubble world.