Tuesday, March 17, 2009

US to "Wind Down AIG in an Orderly Way and Protect the American Taxpayer" ... Why Didn't That Happen From the Start?

Geithner just told Congress he would:

"Work with" AIG chief executive Edward Liddy "on measures to wind down AIG in an orderly way and protect the American taxpayer."

That's great, but why didn't that happen from the start?

Why was AIG paid $ 180 billion dollars of taxpayer money, when AIG was obviously failing and should have just been wound down?

Why did foreign banks get around $40 billion of that, when AIG was obviously failing and should have just been wound down?

Why did Goldman Sachs get $13 billion of that, when AIG was obviously failing and should have just been wound down?

Why did AIG executives receive billions in bonuses, when AIG was obviously failing and should have just been wound down?

Why would many billions more have been sucked into a bottomless pit with no accountability and no end in sight and no benefit for the American people, if the taxpayers had not gotten mad and stood up and yelled "NO!"... when AIG was obviously failing and should have just been wound down?

When even Business Week is running articles entitled "Off With Their Heads . . . Samples of AIG Outrage", it makes one wonder if the financial elites caved in to avoid a revolution.

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3 comments:

  1. M.G. March 18, 2009 at 2:23 AM

    Alleluia!!!

    Breaking News

    Amen to AIG.

    Let's not start to ask if it could have been done before. Of course it could, but few things needed to be "settled"...and now financial markets are happy! It was the buy time strategy...
    It's definitely good news as one of the systemic risk originator is "gone". Now they can also work on the famous list of counterparts and possibly do the same in a systematic and orderly way. It's the present decision which counts for the credit markets and the financial system to resume working properly.

    ReplyDelete
  2. roscoolerMarch 18, 2009 at 11:14 AM

    i just heard liddy say they are winding down the cds dept? he says its done at AIG?

    what part of that company is in hock for 1.3 trillion? it aint AIG completly is it?

    i don't think they are taking apart the whole operation at AIG only what they claim is the fraudulent asset portions.

    then he says they are going to pay private federal reserve bankers back first then TARP.

    now i guess taxpayers bailed them out then then taxpayer/consumers will pay they money back on increased insurance across the board

    ReplyDelete
  3. AnonymousMarch 19, 2009 at 12:13 AM

    I don't believe anything these crooks say anymore -- it's all double speak.

    ReplyDelete

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