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.

at

1 comment:

  1. Independent AccountantApril 5, 2009 at 4:54 PM

    I have been calling the AIG bailout a fraud for months. Welcome aboard.

    ReplyDelete

→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).

→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).

→ The following types of comments will be deleted if we happen to see them:

-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over

-- Comments that explicitly call for violence

→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.