WAAAYY to many threads about the bonuses… we all know republicans and democrats hate each other so stop using that issue to prove that point.
It’s not about the bailouts. They were required by law. Rule of law is still important, even in a crisis. We should have learned THAT by now.
Here’s what it’s about: What it IS about is that after AIG gets a bailout, they make payments to the banks who ALREADY got a bailout from the first round of the stimulus. The decision to grant the bailout was made by the heads of the banks that AIGs payments are going to, in conjunction with the Treasury Secretary and the FED chief.
Total conflict of interest and totally not reported on.
I find it interesting that there has been no focus on Goldman Sachs / Hank Paulson.
Taken from a great little daily email called The Daily Reckoning
"Under pressure**, AIG revealed what it did with the bailout money.** It came as no shock to us to discover Goldman Sachs at the top of the list of recipients. Goldman’s main man was in the room with the feds - the only representative of Wall Street - when the decision was made to rescue AIG. What’s more, the feds’ main man at the time - Hank Paulson - also used to be the top honcho at Goldman. So the fix was in. The government gave money to AIG and AIG gave it to a long list of speculators - including Goldman.
This seems perfectly natural to us. If we’d been in on the fix we would have steered some of the loot our way. But the politicians are feigning shock and horror."