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Tuesday, March 17, 2009

Wow! Faking an Outrage....

Everyone from Obama to the writers in NYT and WSJ are expressing outrage at

  1. The $165 million bonus payments made by AIG to its employees...Seventy-three employees were paid more than $1 million in the latest bonuses at the insurance giant American International Group, according to the New York attorney general, Andrew M. Cuomo. Of course, the names of these people were not released. Apparently these million dollar babies had no qualms stealing money from the public.
  2. The parties that got big chunks of the $180 billion bailout money that was given to AIG.
    Financial companies that received multibillion-dollar payments owed by A.I.G. include Goldman Sachs ($12.9 billion), Merrill Lynch ($6.8 billion), Bank of America ($5.2 billion), Citigroup ($2.3 billion) and Wachovia ($1.5 billion). Big foreign banks also received large sums from the rescue, including Société Générale of France and Deutsche Bank of Germany, which each received nearly $12 billion; Barclays of Britain ($8.5 billion); and UBS of Switzerland ($5 billion). A.I.G. also named the 20 largest states, starting with California, that stood to lose billions last fall because A.I.G. was holding money they had raised with bond sales. In total, A.I.G. named nearly 80 companies and municipalities that benefited most from the Fed rescue, though many more that received smaller payments were left out. WOW! A BIG SURPRISE! Hanky Panky Paulson using public taxpayer money to benefit his own stake and bail out his buddies at Goldman and other banks. Corruption at its finest! Bangladesh does not even come close.

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