"...has anybody asked Team Obama why it is more than willing to break mortgage contracts with a bankruptcy-judge cram-down, but won't cram-down compensation agreements for AIG, despite the fact that the U.S. government owns the company? Kind of odd, don't you think?
The Wall Street Journal editors get it right when they ask: Who's in charge and what's the game plan? The whole AIG story is an outrage.
What's more, AIG is acting as a conduit for taxpayer money that is being sent to dozens of derivative counterparties, including foreign banks and American banks like Goldman Sachs. If we're going to bail out all these other firms, why not bail them out in full taxpayer view? Why is the money being laundered furtively through AIG? And where exactly is the end game for AIG? How are the taxpayers going to be repaid?"
http://www.realclearpolitics.com/articles/2009/03/the_aig_outrage.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment