Thursday, April 2, 2009
Former AIG Chief: Government Used AIG "To Funnel Money to Other Institutions, Including Foreign Banks"
Even the former chief of AIG, Hank Greenberg, said:
the government used AIG "to funnel money to other institutions, including foreign banks" ....
He also said that the government should "wall off" AIG Financial Products division, which was responsible for backing risky financial transactions that led to the company's downfall, from the rest of the group.
In other words, even the former head of the disgraced, bailed-out criminal enterprise is saying that the government has misrepresented and gamed the bailout and that Obama's economic team is doing it all wrong.
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I have been calling the AIG bailout a fraud for months. Welcome aboard.
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