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A dead rose by any other name still stinks…..

By Uppity Woman on March 25, 2009 at 7:15 PM in AIG, Christopher Dodd, Economic Stimulus, Economy

39910funnynoseglassesUsing the AIG rendition of the social idiot who shows up at the party wearing a plastic groucho nose, eyebrows and glasses prop, AIG tore down their headquarters sign this weekend and unceremoniously, if not surreptitiously, changed their company name to AIU–although IOU seems to be a more appropriate name.

No kidding. You can’ make this shit up. Apparently, in the future, we won’t recognize who they are. Let’s call it the Wall Street rendition of the witness protection program.

NEW YORK, March 22 (Reuters) – Workmen rolled up their sleeves at American International Group Inc (AIG.N) this weekend to take down the most prominent sign at the downtown Manhattan offices of the embattled insurer that has become the scorn of America.

A spokesman said the company had decided to replace the large AIG sign — outside the entrance to its property-casualty offices — as part of its plan to change that operation’s name to AIU Holdings Ltd.

The move is designed to “distinguish these well-capitalized businesses from AIG,” said a second spokesman.

In what is probably the closest thing to a truthful remark from AIG’s AIU’s Fed-Selected CEO we have heard in a month, the man finally admitted what a thieving, morally-bankrupt sack of crap this company truly is.

“I think the AIG name is so thoroughly wounded and disgraced that we’re probably going to have to change it,” Liddy told a U.S. House of Representatives subcommittee last Wednesday.

Funny, I kind of get the feeling that the move is to Disappear the name “AIG”. I am sure they are all hoping that angry mobs won’t be able to find their thieving asses any longer.

bag-over-headI get the distinct feeling that in the near future, Geithner, Paulson and Bernanke may be borrowing three sets of those groucho glasses. Barring that possibility due to a run on purchases of these props caused by the rest of their Goldman-Sachs and other Wall Street friends, they can always temporarily go for the bag over the head routine until novelty companies restock. The photo above is a custom-made bag earmarked for Chris Dodd, whose wife seems to have had previous employment ties to AIGan AIU-owned business.

  • autumnal

    I don’t know about Witness Protection for them but I sure would support Extraordinary Rendition for these kleptocrats…a Joke!

  • candymarl

    We changed our name. It wasn’t us but someone who looked just like us. That’s our story and we are sticking to it.

  • jbjd

    Nothing associated with BO goes by its original name.

  • Ferd Berfle

    AIU? WTF does that mean.

    In old silent comedies, a person down on their luck would present themselves naked, covered only by a wooden barrel. Is this the 2nd millennium equivalent-Americans in Underwear?

  • Peggy Sue

    You’re right, Uppity. You really cannot make this shit up. So, we change the name of “toxic assets” to legacy assests and everyone will think what? Heirloom?

    And we change AIG to AIU and we’ll all have a nod off and forget how their one division [with the help of the willing and greedy] brought a global economy and the United States of America to its knees.

    And you know what? The unknown comic wasn’t very funny. In fact, if he was funny at all it was because he was so ludicrous. But then, maybe he was a brilliant prophet. Scream out “hope and change” and the public will go wobbly, worship your every word. Talk about a “post-racial” society and then charge every opponent with racism and voters will claim you’re the Messiah they’ve been waiting for. Insist that we can spend our way out of a Depression and fight growing deficits with monstrous debt. People cheer and sway and sing Hallelujha. And then, we start teaching 2+2=5 or 6 or whatever number turns you on.

    Who would have thunk it? The Rapture has arrived.

    This isn’t a joke. Your TV does not need adjustment. This is a real time tragedy and we’re trapped, everyone of us, inside the damn box.

  • Baba Rum Raisin

    >>> the man finally admitted what a thieving, morally-bankrupt sack of crap this company truly is.

    This remark dishonors thieving, morally-bankrupt pieces of crap everywhere.

  • jwrjr

    What, do they figure that AIG has to repay the bailout money, but AIU doesn’t?

  • elise

    They can’t bury the body under a new name or facade. I can smell it half way across the country.

  • thetownecrier

    AIG = AIU = Losers. America will never forget as they are footing their tab. Thus, those responsible for the economic demise should consider the groucho glasses and brown bag get-ups. America knows who the culprits are and which elected officials facilitated their complicity.

  • cynic

    American International Underwriters.

    The one thing that underwriters have to be especially good at and trusted for is the evaluation of degrees of risk. This seems to the very area where AIG has been particularly inept and untrustworthy.

    “AIG is executing one of the most extensive corporate restructuring programs in history,” said Edward Liddy, Chairman and Chief Executive Officer, AIG. “The formation of AIU Holdings, Inc. will help protect and enhance the value of these key businesses, and position them for the future as more independently run, transparent companies.”

    How much do you want to bet they’re repackaging their holdings to put all the bad apples in the bag the taxpayers ultimately get stuck with?

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  • Sassy

    I heard a comment one day that AIG was the bank that the U.S. used to funnel the money in the Iran-Contra scandal.
    I don’t know if that’s true, but if it is, then they truly were too big to fail!

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