March 16-2009:
A.I.G. & The Definition Of Contractual Service!
A contract is a legal document or agreement between two or more organizations or individuals, to perform certain tasks for a certain time, at a certain fee or commission, at the end of that contract or assignment.
A.I.G. had such contracts with investors or brokers, and over the years accumulated investments' debts, they did not have securities to back them up with, should they default.
A.I.G. had such contracts with investors or brokers, and over the years accumulated investments' debts, they did not have securities to back them up with, should they default.
So now that the American taxpayers or State as majority interest holder of that organization's finances, should be re-negotiating that contract. To ensure that no 'Out Of Control' commissions or huge dividends that were hitherto dispensed, does not recur.
And to ensure that A.I.G. complies with the current and new rules of the contract, that the State, in the people's interest has undertaken!
Derryck.
NYC.
NYC.
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