Wednesday, December 23, 2009
Make AIG's Emails Public
Call or write your Congressional and Senate representatives and tell them that you're joining the following people in demanding that all of AIG's emails to be made public, so that we can gain insight into what really caused the financial crisis:
- William K. Black, Associate Professor of Economics and Law at the University of Missouri – Kansas City, and the former head S&L regulator
- Former New York Attorney General and governor Elliot Spitzer (and see this)
- Frank Partnoy, Professor of law at the University of San Diego
- Leading Christian liberal, author of Rediscovering Values: On Wall Street, Main Street, and Your Street--A Moral Compass for the New Economy, and Editor-in-Chief of Sojourners, Jim Wallis
- Television personality Dylan Ratigan
4 comments:
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GW, I have been following Black and he says without a doubt there was criminal wrong doing in the entire mess from AIG to Citi to Goldman to the corner bank that is being closed. That the pattern in classic. It appears to me the government officials involved along with the Fed officials are covering up massive fraud that would make Bernie Madoff blush. As long as the deposit liabilities are owned by the same crooks that created the bad debts, the money and the system will stay insolvent. There must have been a real bag of tricks learned out of the trials and tribulations of the 1980's and the entire regulatory structure of the various government agencies torn down to nothing. Black says that the guys that did their jobs in the 1980's and early 1990's had to leap over piles of politicians and have not been employed since because of the black list.
ReplyDeleteBetter add another comment. What is the US selling AIG for in the first place? It appears the game is that the market be manipulated back and forth in a bankrupt outfit then come up with a scheme to make a fortune out of the bankrupt by sucking money through the back door. I would insist that Goldman and other market whores not own one dime of AIG when the game went public outside of a very marginal amount they might hold as market maker. There is no way this company has assets that paid off the $190 billion owed the government, at least not free assets not committed to the insureds of the company. That and to be properly capitalized as an investment grade insurer that most of its companies are supposed to be. I don't believe there is any shareholders value net of the government loans and not only should the receivers of a government sale benefit by the removal of these liens, but the existing shareholders should be wiped out. This goes beyond crime prior to the fact, but now goes to crime after the fact with the bureaucrats in government complicit in massive theft.
ReplyDeletePeeking behind the curtain is not allowed.
ReplyDeleteMost don't even peek -behind their own curtains.
If you did, you'd see. You'd see the monkey looking back at you, laughing hysterically, -pissing himself, wholly inebriated with the irony of the rawness of the exposed self-deception.
Civilization? Meritocracy? Pshaw.
It's a world of liars and fabricators shaking their feathered rattles in the air -while spinning on one heel and shouting incoherently.
All bureaucracies are categorically immoral creations, nearly immortal, like Greek Gods, a plague on the future.
Sure let's all read the AIG emails. The ethical exercise will legitimize even worse still -in the minds of these swine.
All these do-gooders are -exactly half- the problem. Get it?
Give the monkeys all the switchblades, shotguns and grenades they all want.
No one will ever again feel justified in the ethic of greed, -when the ethic of mayhem is triumphant!
READ THIS:
ReplyDeletehttp://www.zerohedge.com/article/sprott-calls-fed-ponzi-scheme-half-trillion-treasury-purchasers-are-unaccounted