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Bart[_3_]
March 16th 09, 05:28 PM
This bunch of swindlers wouldn't have gotten a penny in bonus money
regardless what their contracts called for if AIG had been forced into
bankruptcy. So why should they get that money after a taxpayer
bailout?


MARCH 16, 2009

AIG Faces Growing Wrath Over Payouts

By LIAM PLEVEN, SERENA NG and SUDEEP REDDY

Troubled insurer American International Group Inc., now 80% owned by
U.S. taxpayers, spent the weekend deflecting mounting criticism of how
government funds have been funneled to various banks and used to pay
employee bonuses at the business unit that almost sank the company.

After calls for more transparency, AIG disclosed Sunday that roughly
two-thirds of the $173.3 billion in federal aid it received has been
paid out to trading partners such as banks and municipalities in the
U.S. and abroad.

AIG has been shelling out large sums elsewhere. On Sunday, new
criticism emerged about $450 million in bonuses paid to employees of
AIG's Financial Products unit, which made a series of bets on credit
default swap contracts that drove $40.5 billion in losses last year.

Lawrence Summers, the top White House economic adviser, termed the AIG
bonuses "outrageous." While there are many troubling aspects of the
financial crisis, "what's happened at AIG is the most outrageous," he
said.

At the same time, Mr. Summers said that "we are a country of law," and
added that the government can't simply abrogate the contracts. Mr.
Summers spoke on ABC's "This Week."

[ed note: a bankruptcy court sure as hell could have abrogated
the contracts]

A top Democratic lawmaker suggested that earlier, stricter limits
should have been placed on AIG. "Clearly there was a mistake at the
beginning," said Rep. Barney Frank (D., Mass.), the chairman of the
House Financial Services Committee.

Republican Sen. Bob Corker of Tennessee said it was important to
determine whether the payments are legitimate commissions for
financial products that brokers have sold, as opposed to executive
bonuses. But he added that financial institutions that take government
money "have to play by a different set of rules." Mr. Corker spoke on
"Fox News Sunday."

In his letter to Mr. Geithner, dated Saturday, AIG's Mr. Liddy said
the firm's "hands are tied" on making $165 million of the payments
that were due Sunday.

The payments at AIG's financial-products unit are in addition to
$121.5 million in incentive bonuses for 2008 that AIG will start
making this month to about 6,400 of its roughly 116,000 employees.
Separately, AIG is also making $619 million in retention payments to
4,200 employees.

Together, the three programs could result in roughly $1.2 billion in
retention and bonus payments to AIG employees. At least some
individual employees are receiving millions of dollars -- at the
financial-products unit, for instance, seven employees will get more
than $3 million for 2008, according to an AIG document.

Curly Surmudgeon[_4_]
March 16th 09, 05:32 PM
On Mon, 16 Mar 2009 10:28:55 -0700, Bart wrote:

> This bunch of swindlers wouldn't have gotten a penny in bonus money
> regardless what their contracts called for if AIG had been forced into
> bankruptcy. So why should they get that money after a taxpayer bailout?
>
>
> MARCH 16, 2009
>
> AIG Faces Growing Wrath Over Payouts
>
> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>
> Troubled insurer American International Group Inc., now 80% owned by
> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
> government funds have been funneled to various banks and used to pay
> employee bonuses at the business unit that almost sank the company.
---------snip---------

Obama will try to block executive bonuses at AIG
AP – 3 mins ago

WASHINGTON – President Barack Obama declared Monday that insurance giant
American International Group is in financial straits because of
"recklessness and greed" and said he intends to stop it from paying out
millions in executive bonuses.

.. . .

http://news.yahoo.com/s/ap/20090316/ap_on_go_pr_wh/
aig_outrage;_ylt=AqL0oZTAF9jbpt9pDjrZCBWs0NUE;_ylu =X3oDMTI1dGVoNDlnBGFzc2V0A2FwLzIwMDkwMzE2L2FpZ19vd XRyYWdlBHBvcwMyBHNlYwN5bl90b3Bfc3RvcnkEc2xrA29iYW1 hd2lsbHRyeQ--



--
Regards, Curly
------------------------------------------------------------------------------
$8,800,000,000,000.00, Angry Yet?
Arrest Bush
------------------------------------------------------------------------------

snakehawk
March 16th 09, 06:54 PM
On Mar 16, 11:28*am, Bart > wrote:
> This bunch of swindlers wouldn't have gotten a penny in bonus money
> regardless what their contracts called for if AIG had been forced into
> bankruptcy. *So why should they get that money after a taxpayer
> bailout?
>
> MARCH 16, 2009
>
> AIG Faces Growing Wrath Over Payouts
>
> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>
> Troubled insurer American International Group Inc., now 80% owned by
> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
> government funds have been funneled to various banks and used to pay
> employee bonuses at the business unit that almost sank the company.
>
> After calls for more transparency, AIG disclosed Sunday that roughly
> two-thirds of the $173.3 billion in federal aid it received has been
> paid out to trading partners such as banks and municipalities in the
> U.S. and abroad.
>
> AIG has been shelling out large sums elsewhere. On Sunday, new
> criticism emerged about $450 million in bonuses paid to employees of
> AIG's Financial Products unit, which made a series of bets on credit
> default swap contracts that drove $40.5 billion in losses last year.
>
> Lawrence Summers, the top White House economic adviser, termed the AIG
> bonuses "outrageous." While there are many troubling aspects of the
> financial crisis, "what's happened at AIG is the most outrageous," he
> said.
>
> At the same time, Mr. Summers said that "we are a country of law," and
> added that the government can't simply abrogate the contracts. Mr.
> Summers spoke on ABC's "This Week."

It looks very much like the hoopla being raised in Washington and the
media about the AIG bonuses are a smokescreen, a diversion to direct
attention away from the really scandalous theft of billions of US
taxpayer dollars. The article mentions almost in passing, "two-thirds
of the $173.3 billion in federal aid it received has been paid out to
trading partners such as banks and municipalities in the U.S. and
abroad."

Think about that: billions in US taxpayer money was transferred to
foreign banks! No one even asks how shipping cash outside of the
country will help the US credit market or the economy. And isn't that
what the bail out was all about?

We're not talking paltry sums here. France's Societe Generale
received $11.9 billion, Germany's Deutsche Bank got $11.8 billion, and
Britain's Barclays was handed $8.5 billion. In all, AIG distributed
more than half of all the money it received from the US government to
big international financial institutions. Paulson's favorite
investment bank, the defunct Goldman Sachs, got a whopping $12.9
billion. So our tax money, money badly needed to rejuvenate the US
economy, is now lining the pockets of big money barons all over the
world.

The $450 million in proposed bonuses are pocket change compared to the
$90 Billions being sent outside of the country. But while our oh-so-
frugal Congressmen and the financial experts in Washington are
catatonic over a few million in bonuses, not a discouraging word is
spoken about the greatest billion-dollar rip-off in the history of the
world unfolding right under their noses.





Deutsche Bank , and the UK's Barclays , were major beneficiaries of
more than $90 billion (64 billion pounds) of money paid out by AIG in
the first three-and-a-half months after its bailout by the U.S.
government last September.


Through three separate types of transactions, Goldman received an
aggregate $12.9 billion. Among European banks,
The payments include the provision of collateral to back up credit
default swaps, a form of financial insurance that AIG was writing; the
purchase of the collateralized debt obligations, a type of complex
debt security that underlay that insurance; and payments to
counterparties of a securities lending program.

The figures released by AIG show amounts it paid to counterparties
between September 16,

BarackHelpsCorpsDestroyU.S.
March 16th 09, 06:56 PM
snakehawk wrote:
> On Mar 16, 11:28 am, Bart > wrote:
>> This bunch of swindlers wouldn't have gotten a penny in bonus money
>> regardless what their contracts called for if AIG had been forced into
>> bankruptcy. So why should they get that money after a taxpayer
>> bailout?
>>
>> MARCH 16, 2009
>>
>> AIG Faces Growing Wrath Over Payouts
>>
>> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>>
>> Troubled insurer American International Group Inc., now 80% owned by
>> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
>> government funds have been funneled to various banks and used to pay
>> employee bonuses at the business unit that almost sank the company.
>>
>> After calls for more transparency, AIG disclosed Sunday that roughly
>> two-thirds of the $173.3 billion in federal aid it received has been
>> paid out to trading partners such as banks and municipalities in the
>> U.S. and abroad.
>>
>> AIG has been shelling out large sums elsewhere. On Sunday, new
>> criticism emerged about $450 million in bonuses paid to employees of
>> AIG's Financial Products unit, which made a series of bets on credit
>> default swap contracts that drove $40.5 billion in losses last year.
>>
>> Lawrence Summers, the top White House economic adviser, termed the AIG
>> bonuses "outrageous." While there are many troubling aspects of the
>> financial crisis, "what's happened at AIG is the most outrageous," he
>> said.
>>
>> At the same time, Mr. Summers said that "we are a country of law," and
>> added that the government can't simply abrogate the contracts. Mr.
>> Summers spoke on ABC's "This Week."
>
> It looks very much like the hoopla being raised in Washington and the
> media about the AIG bonuses are a smokescreen, a diversion to direct
> attention away from the really scandalous theft of billions of US
> taxpayer dollars. The article mentions almost in passing, "two-thirds
> of the $173.3 billion in federal aid it received has been paid out to
> trading partners such as banks and municipalities in the U.S. and
> abroad."
>
> Think about that: billions in US taxpayer money was transferred to
> foreign banks! No one even asks how shipping cash outside of the
> country will help the US credit market or the economy. And isn't that
> what the bail out was all about?
>
> We're not talking paltry sums here. France's Societe Generale
> received $11.9 billion, Germany's Deutsche Bank got $11.8 billion, and
> Britain's Barclays was handed $8.5 billion. In all, AIG distributed
> more than half of all the money it received from the US government to
> big international financial institutions. Paulson's favorite
> investment bank, the defunct Goldman Sachs, got a whopping $12.9
> billion. So our tax money, money badly needed to rejuvenate the US
> economy, is now lining the pockets of big money barons all over the
> world.
>
> The $450 million in proposed bonuses are pocket change compared to the
> $90 Billions being sent outside of the country. But while our oh-so-
> frugal Congressmen and the financial experts in Washington are
> catatonic over a few million in bonuses, not a discouraging word is
> spoken about the greatest billion-dollar rip-off in the history of the
> world unfolding right under their noses.
>
>
>
>
>
> Deutsche Bank , and the UK's Barclays , were major beneficiaries of
> more than $90 billion (64 billion pounds) of money paid out by AIG in
> the first three-and-a-half months after its bailout by the U.S.
> government last September.
>
>
> Through three separate types of transactions, Goldman received an
> aggregate $12.9 billion. Among European banks,
> The payments include the provision of collateral to back up credit
> default swaps, a form of financial insurance that AIG was writing; the
> purchase of the collateralized debt obligations, a type of complex
> debt security that underlay that insurance; and payments to
> counterparties of a securities lending program.
>
> The figures released by AIG show amounts it paid to counterparties
> between September 16,
>
>
why are the democrats doing this? one world order? payback for
political donations? or both.

snakehawk
March 16th 09, 07:08 PM
On Mar 16, 12:56*pm, "BarackHelpsCorpsDestroyU.S." >
wrote:
> snakehawk wrote:
> > On Mar 16, 11:28 am, Bart > wrote:
> >> This bunch of swindlers wouldn't have gotten a penny in bonus money
> >> regardless what their contracts called for if AIG had been forced into
> >> bankruptcy. *So why should they get that money after a taxpayer
> >> bailout?
>
> >> MARCH 16, 2009
>
> >> AIG Faces Growing Wrath Over Payouts
>
> >> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>
> >> Troubled insurer American International Group Inc., now 80% owned by
> >> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
> >> government funds have been funneled to various banks and used to pay
> >> employee bonuses at the business unit that almost sank the company.
>
> >> After calls for more transparency, AIG disclosed Sunday that roughly
> >> two-thirds of the $173.3 billion in federal aid it received has been
> >> paid out to trading partners such as banks and municipalities in the
> >> U.S. and abroad.
>
> >> AIG has been shelling out large sums elsewhere. On Sunday, new
> >> criticism emerged about $450 million in bonuses paid to employees of
> >> AIG's Financial Products unit, which made a series of bets on credit
> >> default swap contracts that drove $40.5 billion in losses last year.
>
> >> Lawrence Summers, the top White House economic adviser, termed the AIG
> >> bonuses "outrageous." While there are many troubling aspects of the
> >> financial crisis, "what's happened at AIG is the most outrageous," he
> >> said.
>
> >> At the same time, Mr. Summers said that "we are a country of law," and
> >> added that the government can't simply abrogate the contracts. Mr.
> >> Summers spoke on ABC's "This Week."
>
> > It looks very much like the hoopla being raised in Washington and the
> > media about the AIG bonuses are a smokescreen, a diversion to direct
> > attention away from the really scandalous theft of billions of US
> > taxpayer dollars. *The article mentions almost in passing, "two-thirds
> > of the $173.3 billion in federal aid it received has been paid out to
> > trading partners such as banks and municipalities in the U.S. and
> > abroad."
>
> > Think about that: billions in US taxpayer money was transferred to
> > foreign banks! *No one even asks how shipping cash outside of the
> > country will help the US credit market or the economy. *And isn't that
> > what the bail out was all about?
>
> > We're not talking paltry sums here. *France's Societe Generale
> > received $11.9 billion, Germany's Deutsche Bank got $11.8 billion, and
> > Britain's Barclays was handed $8.5 billion. *In all, AIG distributed
> > more than half of all the money it received from the US government to
> > big international financial institutions. *Paulson's favorite
> > investment bank, the defunct Goldman Sachs, got a whopping $12.9
> > billion. *So our tax money, money badly needed to rejuvenate the US
> > economy, is now lining the pockets of big money barons all over the
> > world.
>
> > The $450 million in proposed bonuses are pocket change compared to the
> > $90 Billions being sent outside of the country. *But while our oh-so-
> > frugal Congressmen and the financial experts in Washington are
> > catatonic over a few million in bonuses, not a discouraging word is
> > spoken about the greatest billion-dollar rip-off in the history of the
> > world unfolding right under their noses.
>
> > Deutsche Bank , and the UK's Barclays , were major beneficiaries of
> > more than $90 billion (64 billion pounds) of money paid out by AIG in
> > the first three-and-a-half months after its bailout by the U.S.
> > government last September.
>
> > Through three separate types of transactions, Goldman received an
> > aggregate $12.9 billion. Among European banks,
> > The payments include the provision of collateral to back up credit
> > default swaps, a form of financial insurance that AIG was writing; the
> > purchase of the collateralized debt obligations, a type of complex
> > debt security that underlay that insurance; and payments to
> > counterparties of a securities lending program.
>
> > The figures released by AIG show amounts it paid to counterparties
> > between September 16,
>
> why are the democrats doing this? *one world order? *payback for
> political donations? *or both.- Hide quoted text -
>
> - Show quoted text -

It's both parties, I'm afraid. The payments started in September,
when the Bush boys were running the show. But nothing is being done
to stop it now, so Obama will have to bear some of the blame. Obama's
biggest mistake was to keep Bernanke and to place people like Summers
in positions of authority.

If Obama wants to salvage something, he will have to force AIG into
bankruptcy and get a bankruptcy judge to order the return of the
recent payments to all those big financial houses. It was stupid from
the gitgo to allow the hopelessly insolvent AIG to remain in business.

Then Obama should have his outspoken Attorney General speak loudly,
swing a big stick, and haul the whole bunch, including AIG's new CEO,
before a criminal court somewhere outside of New York where the people
of the United States could get a fair and impartial hanging.

Reverend Billy Bobby
March 16th 09, 07:09 PM
"BarackHelpsCorpsDestroyU.S." > wrote in message
...
> why are the democrats doing this? one world order? payback for political
> donations? or both.

Do you think you are fooling anyone with that typical GOP spin?

BarackHelpsCorpsDestroyU.S.
March 16th 09, 07:16 PM
Reverend Billy Bobby wrote:
> "BarackHelpsCorpsDestroyU.S." > wrote in message
> ...
>> why are the democrats doing this? one world order? payback for political
>> donations? or both.
>
> Do you think you are fooling anyone with that typical GOP spin?
>
>
I"m a black democrat. u r a racist.

Firelock
March 16th 09, 07:21 PM
On Mar 16, 3:08*pm, snakehawk > wrote:
> On Mar 16, 12:56*pm, "BarackHelpsCorpsDestroyU.S." >
> wrote:
>
>
>
>
>
> > snakehawk wrote:
> > > On Mar 16, 11:28 am, Bart > wrote:
> > >> This bunch of swindlers wouldn't have gotten a penny in bonus money
> > >> regardless what their contracts called for if AIG had been forced into
> > >> bankruptcy. *So why should they get that money after a taxpayer
> > >> bailout?
>
> > >> MARCH 16, 2009
>
> > >> AIG Faces Growing Wrath Over Payouts
>
> > >> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>
> > >> Troubled insurer American International Group Inc., now 80% owned by
> > >> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
> > >> government funds have been funneled to various banks and used to pay
> > >> employee bonuses at the business unit that almost sank the company.
>
> > >> After calls for more transparency, AIG disclosed Sunday that roughly
> > >> two-thirds of the $173.3 billion in federal aid it received has been
> > >> paid out to trading partners such as banks and municipalities in the
> > >> U.S. and abroad.
>
> > >> AIG has been shelling out large sums elsewhere. On Sunday, new
> > >> criticism emerged about $450 million in bonuses paid to employees of
> > >> AIG's Financial Products unit, which made a series of bets on credit
> > >> default swap contracts that drove $40.5 billion in losses last year.
>
> > >> Lawrence Summers, the top White House economic adviser, termed the AIG
> > >> bonuses "outrageous." While there are many troubling aspects of the
> > >> financial crisis, "what's happened at AIG is the most outrageous," he
> > >> said.
>
> > >> At the same time, Mr. Summers said that "we are a country of law," and
> > >> added that the government can't simply abrogate the contracts. Mr.
> > >> Summers spoke on ABC's "This Week."
>
> > > It looks very much like the hoopla being raised in Washington and the
> > > media about the AIG bonuses are a smokescreen, a diversion to direct
> > > attention away from the really scandalous theft of billions of US
> > > taxpayer dollars. *The article mentions almost in passing, "two-thirds
> > > of the $173.3 billion in federal aid it received has been paid out to
> > > trading partners such as banks and municipalities in the U.S. and
> > > abroad."
>
> > > Think about that: billions in US taxpayer money was transferred to
> > > foreign banks! *No one even asks how shipping cash outside of the
> > > country will help the US credit market or the economy. *And isn't that
> > > what the bail out was all about?
>
> > > We're not talking paltry sums here. *France's Societe Generale
> > > received $11.9 billion, Germany's Deutsche Bank got $11.8 billion, and
> > > Britain's Barclays was handed $8.5 billion. *In all, AIG distributed
> > > more than half of all the money it received from the US government to
> > > big international financial institutions. *Paulson's favorite
> > > investment bank, the defunct Goldman Sachs, got a whopping $12.9
> > > billion. *So our tax money, money badly needed to rejuvenate the US
> > > economy, is now lining the pockets of big money barons all over the
> > > world.
>
> > > The $450 million in proposed bonuses are pocket change compared to the
> > > $90 Billions being sent outside of the country. *But while our oh-so-
> > > frugal Congressmen and the financial experts in Washington are
> > > catatonic over a few million in bonuses, not a discouraging word is
> > > spoken about the greatest billion-dollar rip-off in the history of the
> > > world unfolding right under their noses.
>
> > > Deutsche Bank , and the UK's Barclays , were major beneficiaries of
> > > more than $90 billion (64 billion pounds) of money paid out by AIG in
> > > the first three-and-a-half months after its bailout by the U.S.
> > > government last September.
>
> > > Through three separate types of transactions, Goldman received an
> > > aggregate $12.9 billion. Among European banks,
> > > The payments include the provision of collateral to back up credit
> > > default swaps, a form of financial insurance that AIG was writing; the
> > > purchase of the collateralized debt obligations, a type of complex
> > > debt security that underlay that insurance; and payments to
> > > counterparties of a securities lending program.
>
> > > The figures released by AIG show amounts it paid to counterparties
> > > between September 16,
>
> > why are the democrats doing this? *one world order? *payback for
> > political donations? *or both.- Hide quoted text -
>
> > - Show quoted text -
>
> It's both parties, I'm afraid. *The payments started in September,
> when the Bush boys were running the show.

With the active participation of the Dems who controlled
Congress at the time. This isn't one party's mess.

When a company gets so big that the government doesn't
dare let it fail, it's high time to let said company fail, the
sooner the better.

--
Walt

snakehawk
March 16th 09, 07:26 PM
On Mar 16, 1:09*pm, "Reverend Billy Bobby" > wrote:
> "BarackHelpsCorpsDestroyU.S." > wrote in message
>
> ...
>
> > why are the democrats doing this? *one world order? *payback for political
> > donations? *or both.
>
> Do you think you are fooling anyone with that typical GOP spin?

This is a bipartisan confidence game. Benanke and Paulson are both
Democrats, and the both endorsed Bush's preposterous plan to just give
money to the big international gambling casino called AIG with no
strings attached when they all knew AIG couldn't cover the bets on its
books.

We're talking big---really BIG---money here; enough money to buy the
entire ratpack in Congress. Every one of those born-again budget hawk
Republicans and those irate Demcrats who are screaming outrage about
those paltry millions in bonuses but strangely silent about the flow
of billions to overseas big money houses are certainly expecting some
reward for their troubles. The US is in the hands of international
finance, and there is little we peons can do about it.

BarackHelpsCorpsDestroyU.S.
March 16th 09, 08:51 PM
snakehawk wrote:
> On Mar 16, 1:09 pm, "Reverend Billy Bobby" > wrote:
>> "BarackHelpsCorpsDestroyU.S." > wrote in message
>>
>> ...
>>
>>> why are the democrats doing this? one world order? payback for political
>>> donations? or both.
>> Do you think you are fooling anyone with that typical GOP spin?
>
> This is a bipartisan confidence game. Benanke and Paulson are both
> Democrats, and the both endorsed Bush's preposterous plan to just give
> money to the big international gambling casino called AIG with no
> strings attached when they all knew AIG couldn't cover the bets on its
> books.
>
> We're talking big---really BIG---money here; enough money to buy the
> entire ratpack in Congress. Every one of those born-again budget hawk
> Republicans and those irate Demcrats who are screaming outrage about
> those paltry millions in bonuses but strangely silent about the flow
> of billions to overseas big money houses are certainly expecting some
> reward for their troubles. The US is in the hands of international
> finance, and there is little we peons can do about it.

welcome to the new reality

March 16th 09, 10:15 PM
the reason AIG got bailed out is because many of their executives are
campaign contibuters to the democratic party.


"THE BLACK HAND" is the name of the international
terrorist group that is causing all the problems.

Curly Surmudgeon[_4_]
March 16th 09, 10:45 PM
On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:

> On Mar 16, 3:08*pm, snakehawk > wrote:
>> On Mar 16, 12:56*pm, "BarackHelpsCorpsDestroyU.S." >
>> wrote:
>>
>>
>>
>>
>>
>> > snakehawk wrote:
>> > > On Mar 16, 11:28 am, Bart > wrote:
>> > >> This bunch of swindlers wouldn't have gotten a penny in bonus
>> > >> money regardless what their contracts called for if AIG had been
>> > >> forced into bankruptcy. *So why should they get that money after a
>> > >> taxpayer bailout?
>>
>> > >> MARCH 16, 2009
>>
>> > >> AIG Faces Growing Wrath Over Payouts
>>
>> > >> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>>
>> > >> Troubled insurer American International Group Inc., now 80% owned
>> > >> by U.S. taxpayers, spent the weekend deflecting mounting criticism
>> > >> of how government funds have been funneled to various banks and
>> > >> used to pay employee bonuses at the business unit that almost sank
>> > >> the company.
>>
>> > >> After calls for more transparency, AIG disclosed Sunday that
>> > >> roughly two-thirds of the $173.3 billion in federal aid it
>> > >> received has been paid out to trading partners such as banks and
>> > >> municipalities in the U.S. and abroad.
>>
>> > >> AIG has been shelling out large sums elsewhere. On Sunday, new
>> > >> criticism emerged about $450 million in bonuses paid to employees
>> > >> of AIG's Financial Products unit, which made a series of bets on
>> > >> credit default swap contracts that drove $40.5 billion in losses
>> > >> last year.
>>
>> > >> Lawrence Summers, the top White House economic adviser, termed the
>> > >> AIG bonuses "outrageous." While there are many troubling aspects
>> > >> of the financial crisis, "what's happened at AIG is the most
>> > >> outrageous," he said.
>>
>> > >> At the same time, Mr. Summers said that "we are a country of law,"
>> > >> and added that the government can't simply abrogate the contracts.
>> > >> Mr. Summers spoke on ABC's "This Week."
>>
>> > > It looks very much like the hoopla being raised in Washington and
>> > > the media about the AIG bonuses are a smokescreen, a diversion to
>> > > direct attention away from the really scandalous theft of billions
>> > > of US taxpayer dollars. *The article mentions almost in passing,
>> > > "two-thirds of the $173.3 billion in federal aid it received has
>> > > been paid out to trading partners such as banks and municipalities
>> > > in the U.S. and abroad."
>>
>> > > Think about that: billions in US taxpayer money was transferred to
>> > > foreign banks! *No one even asks how shipping cash outside of the
>> > > country will help the US credit market or the economy. *And isn't
>> > > that what the bail out was all about?
>>
>> > > We're not talking paltry sums here. *France's Societe Generale
>> > > received $11.9 billion, Germany's Deutsche Bank got $11.8 billion,
>> > > and Britain's Barclays was handed $8.5 billion. *In all, AIG
>> > > distributed more than half of all the money it received from the US
>> > > government to big international financial institutions. *Paulson's
>> > > favorite investment bank, the defunct Goldman Sachs, got a whopping
>> > > $12.9 billion. *So our tax money, money badly needed to rejuvenate
>> > > the US economy, is now lining the pockets of big money barons all
>> > > over the world.
>>
>> > > The $450 million in proposed bonuses are pocket change compared to
>> > > the $90 Billions being sent outside of the country. *But while our
>> > > oh-so- frugal Congressmen and the financial experts in Washington
>> > > are catatonic over a few million in bonuses, not a discouraging
>> > > word is spoken about the greatest billion-dollar rip-off in the
>> > > history of the world unfolding right under their noses.
>>
>> > > Deutsche Bank , and the UK's Barclays , were major beneficiaries of
>> > > more than $90 billion (64 billion pounds) of money paid out by AIG
>> > > in the first three-and-a-half months after its bailout by the U.S.
>> > > government last September.
>>
>> > > Through three separate types of transactions, Goldman received an
>> > > aggregate $12.9 billion. Among European banks, The payments include
>> > > the provision of collateral to back up credit default swaps, a form
>> > > of financial insurance that AIG was writing; the purchase of the
>> > > collateralized debt obligations, a type of complex debt security
>> > > that underlay that insurance; and payments to counterparties of a
>> > > securities lending program.
>>
>> > > The figures released by AIG show amounts it paid to counterparties
>> > > between September 16,
>>
>> > why are the democrats doing this? *one world order? *payback for
>> > political donations? *or both.- Hide quoted text -
>>
>> > - Show quoted text -
>>
>> It's both parties, I'm afraid. *The payments started in September, when
>> the Bush boys were running the show.
>
> With the active participation of the Dems who controlled Congress at the
> time. This isn't one party's mess.

Republicans have controlled Congress 23 of the last 28 years.

> When a company gets so big that the government doesn't dare let it fail,
> it's high time to let said company fail, the sooner the better.

True but don't spin the responsibility for allowing these disasters to
fester, that is solely Bush, his administrations, sycophants and the
Republicans.

--
Regards, Curly
------------------------------------------------------------------------------
$8,800,000,000,000.00, Angry Yet?
Arrest Bush
------------------------------------------------------------------------------

BarackHelpsCorpsDestroyU.S.
March 17th 09, 12:00 AM
Curly Surmudgeon wrote:
> On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:
>
>> On Mar 16, 3:08 pm, snakehawk > wrote:
>>> On Mar 16, 12:56 pm, "BarackHelpsCorpsDestroyU.S." >
>>> wrote:
>>>
>>>
>>>
>>>
>>>
>>>> snakehawk wrote:
>>>>> On Mar 16, 11:28 am, Bart > wrote:
>>>>>> This bunch of swindlers wouldn't have gotten a penny in bonus
>>>>>> money regardless what their contracts called for if AIG had been
>>>>>> forced into bankruptcy. So why should they get that money after a
>>>>>> taxpayer bailout?
>>>>>> MARCH 16, 2009
>>>>>> AIG Faces Growing Wrath Over Payouts
>>>>>> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>>>>>> Troubled insurer American International Group Inc., now 80% owned
>>>>>> by U.S. taxpayers, spent the weekend deflecting mounting criticism
>>>>>> of how government funds have been funneled to various banks and
>>>>>> used to pay employee bonuses at the business unit that almost sank
>>>>>> the company.
>>>>>> After calls for more transparency, AIG disclosed Sunday that
>>>>>> roughly two-thirds of the $173.3 billion in federal aid it
>>>>>> received has been paid out to trading partners such as banks and
>>>>>> municipalities in the U.S. and abroad.
>>>>>> AIG has been shelling out large sums elsewhere. On Sunday, new
>>>>>> criticism emerged about $450 million in bonuses paid to employees
>>>>>> of AIG's Financial Products unit, which made a series of bets on
>>>>>> credit default swap contracts that drove $40.5 billion in losses
>>>>>> last year.
>>>>>> Lawrence Summers, the top White House economic adviser, termed the
>>>>>> AIG bonuses "outrageous." While there are many troubling aspects
>>>>>> of the financial crisis, "what's happened at AIG is the most
>>>>>> outrageous," he said.
>>>>>> At the same time, Mr. Summers said that "we are a country of law,"
>>>>>> and added that the government can't simply abrogate the contracts.
>>>>>> Mr. Summers spoke on ABC's "This Week."
>>>>> It looks very much like the hoopla being raised in Washington and
>>>>> the media about the AIG bonuses are a smokescreen, a diversion to
>>>>> direct attention away from the really scandalous theft of billions
>>>>> of US taxpayer dollars. The article mentions almost in passing,
>>>>> "two-thirds of the $173.3 billion in federal aid it received has
>>>>> been paid out to trading partners such as banks and municipalities
>>>>> in the U.S. and abroad."
>>>>> Think about that: billions in US taxpayer money was transferred to
>>>>> foreign banks! No one even asks how shipping cash outside of the
>>>>> country will help the US credit market or the economy. And isn't
>>>>> that what the bail out was all about?
>>>>> We're not talking paltry sums here. France's Societe Generale
>>>>> received $11.9 billion, Germany's Deutsche Bank got $11.8 billion,
>>>>> and Britain's Barclays was handed $8.5 billion. In all, AIG
>>>>> distributed more than half of all the money it received from the US
>>>>> government to big international financial institutions. Paulson's
>>>>> favorite investment bank, the defunct Goldman Sachs, got a whopping
>>>>> $12.9 billion. So our tax money, money badly needed to rejuvenate
>>>>> the US economy, is now lining the pockets of big money barons all
>>>>> over the world.
>>>>> The $450 million in proposed bonuses are pocket change compared to
>>>>> the $90 Billions being sent outside of the country. But while our
>>>>> oh-so- frugal Congressmen and the financial experts in Washington
>>>>> are catatonic over a few million in bonuses, not a discouraging
>>>>> word is spoken about the greatest billion-dollar rip-off in the
>>>>> history of the world unfolding right under their noses.
>>>>> Deutsche Bank , and the UK's Barclays , were major beneficiaries of
>>>>> more than $90 billion (64 billion pounds) of money paid out by AIG
>>>>> in the first three-and-a-half months after its bailout by the U.S.
>>>>> government last September.
>>>>> Through three separate types of transactions, Goldman received an
>>>>> aggregate $12.9 billion. Among European banks, The payments include
>>>>> the provision of collateral to back up credit default swaps, a form
>>>>> of financial insurance that AIG was writing; the purchase of the
>>>>> collateralized debt obligations, a type of complex debt security
>>>>> that underlay that insurance; and payments to counterparties of a
>>>>> securities lending program.
>>>>> The figures released by AIG show amounts it paid to counterparties
>>>>> between September 16,
>>>> why are the democrats doing this? one world order? payback for
>>>> political donations? or both.- Hide quoted text -
>>>> - Show quoted text -
>>> It's both parties, I'm afraid. The payments started in September, when
>>> the Bush boys were running the show.
>> With the active participation of the Dems who controlled Congress at the
>> time. This isn't one party's mess.
>
> Republicans have controlled Congress 23 of the last 28 years.
>
>> When a company gets so big that the government doesn't dare let it fail,
>> it's high time to let said company fail, the sooner the better.
>
> True but don't spin the responsibility for allowing these disasters to
> fester, that is solely Bush, his administrations, sycophants and the
> Republicans.
>
and everything was great till the dems took over.

Too_Many_Tools
March 17th 09, 12:06 AM
On Mar 16, 12:56*pm, "BarackHelpsCorpsDestroyU.S." >
wrote:
> snakehawk wrote:
> > On Mar 16, 11:28 am, Bart > wrote:
> >> This bunch of swindlers wouldn't have gotten a penny in bonus money
> >> regardless what their contracts called for if AIG had been forced into
> >> bankruptcy. *So why should they get that money after a taxpayer
> >> bailout?
>
> >> MARCH 16, 2009
>
> >> AIG Faces Growing Wrath Over Payouts
>
> >> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>
> >> Troubled insurer American International Group Inc., now 80% owned by
> >> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
> >> government funds have been funneled to various banks and used to pay
> >> employee bonuses at the business unit that almost sank the company.
>
> >> After calls for more transparency, AIG disclosed Sunday that roughly
> >> two-thirds of the $173.3 billion in federal aid it received has been
> >> paid out to trading partners such as banks and municipalities in the
> >> U.S. and abroad.
>
> >> AIG has been shelling out large sums elsewhere. On Sunday, new
> >> criticism emerged about $450 million in bonuses paid to employees of
> >> AIG's Financial Products unit, which made a series of bets on credit
> >> default swap contracts that drove $40.5 billion in losses last year.
>
> >> Lawrence Summers, the top White House economic adviser, termed the AIG
> >> bonuses "outrageous." While there are many troubling aspects of the
> >> financial crisis, "what's happened at AIG is the most outrageous," he
> >> said.
>
> >> At the same time, Mr. Summers said that "we are a country of law," and
> >> added that the government can't simply abrogate the contracts. Mr.
> >> Summers spoke on ABC's "This Week."
>
> > It looks very much like the hoopla being raised in Washington and the
> > media about the AIG bonuses are a smokescreen, a diversion to direct
> > attention away from the really scandalous theft of billions of US
> > taxpayer dollars. *The article mentions almost in passing, "two-thirds
> > of the $173.3 billion in federal aid it received has been paid out to
> > trading partners such as banks and municipalities in the U.S. and
> > abroad."
>
> > Think about that: billions in US taxpayer money was transferred to
> > foreign banks! *No one even asks how shipping cash outside of the
> > country will help the US credit market or the economy. *And isn't that
> > what the bail out was all about?
>
> > We're not talking paltry sums here. *France's Societe Generale
> > received $11.9 billion, Germany's Deutsche Bank got $11.8 billion, and
> > Britain's Barclays was handed $8.5 billion. *In all, AIG distributed
> > more than half of all the money it received from the US government to
> > big international financial institutions. *Paulson's favorite
> > investment bank, the defunct Goldman Sachs, got a whopping $12.9
> > billion. *So our tax money, money badly needed to rejuvenate the US
> > economy, is now lining the pockets of big money barons all over the
> > world.
>
> > The $450 million in proposed bonuses are pocket change compared to the
> > $90 Billions being sent outside of the country. *But while our oh-so-
> > frugal Congressmen and the financial experts in Washington are
> > catatonic over a few million in bonuses, not a discouraging word is
> > spoken about the greatest billion-dollar rip-off in the history of the
> > world unfolding right under their noses.
>
> > Deutsche Bank , and the UK's Barclays , were major beneficiaries of
> > more than $90 billion (64 billion pounds) of money paid out by AIG in
> > the first three-and-a-half months after its bailout by the U.S.
> > government last September.
>
> > Through three separate types of transactions, Goldman received an
> > aggregate $12.9 billion. Among European banks,
> > The payments include the provision of collateral to back up credit
> > default swaps, a form of financial insurance that AIG was writing; the
> > purchase of the collateralized debt obligations, a type of complex
> > debt security that underlay that insurance; and payments to
> > counterparties of a securities lending program.
>
> > The figures released by AIG show amounts it paid to counterparties
> > between September 16,
>
> why are the democrats doing this? *one world order? *payback for
> political donations? *or both.

Legal binding contracts....that were negotiated under Bush's term.

It explains why the situation is so screwed up.

So ae you enjoying the Republican screwing you are getting as a
taxpayer?

TMT

Too_Many_Tools
March 17th 09, 12:08 AM
On Mar 16, 1:08*pm, snakehawk > wrote:
> On Mar 16, 12:56*pm, "BarackHelpsCorpsDestroyU.S." >
> wrote:
>
>
>
> > snakehawk wrote:
> > > On Mar 16, 11:28 am, Bart > wrote:
> > >> This bunch of swindlers wouldn't have gotten a penny in bonus money
> > >> regardless what their contracts called for if AIG had been forced into
> > >> bankruptcy. *So why should they get that money after a taxpayer
> > >> bailout?
>
> > >> MARCH 16, 2009
>
> > >> AIG Faces Growing Wrath Over Payouts
>
> > >> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>
> > >> Troubled insurer American International Group Inc., now 80% owned by
> > >> U.S. taxpayers, spent the weekend deflecting mounting criticism of how
> > >> government funds have been funneled to various banks and used to pay
> > >> employee bonuses at the business unit that almost sank the company.
>
> > >> After calls for more transparency, AIG disclosed Sunday that roughly
> > >> two-thirds of the $173.3 billion in federal aid it received has been
> > >> paid out to trading partners such as banks and municipalities in the
> > >> U.S. and abroad.
>
> > >> AIG has been shelling out large sums elsewhere. On Sunday, new
> > >> criticism emerged about $450 million in bonuses paid to employees of
> > >> AIG's Financial Products unit, which made a series of bets on credit
> > >> default swap contracts that drove $40.5 billion in losses last year.
>
> > >> Lawrence Summers, the top White House economic adviser, termed the AIG
> > >> bonuses "outrageous." While there are many troubling aspects of the
> > >> financial crisis, "what's happened at AIG is the most outrageous," he
> > >> said.
>
> > >> At the same time, Mr. Summers said that "we are a country of law," and
> > >> added that the government can't simply abrogate the contracts. Mr.
> > >> Summers spoke on ABC's "This Week."
>
> > > It looks very much like the hoopla being raised in Washington and the
> > > media about the AIG bonuses are a smokescreen, a diversion to direct
> > > attention away from the really scandalous theft of billions of US
> > > taxpayer dollars. *The article mentions almost in passing, "two-thirds
> > > of the $173.3 billion in federal aid it received has been paid out to
> > > trading partners such as banks and municipalities in the U.S. and
> > > abroad."
>
> > > Think about that: billions in US taxpayer money was transferred to
> > > foreign banks! *No one even asks how shipping cash outside of the
> > > country will help the US credit market or the economy. *And isn't that
> > > what the bail out was all about?
>
> > > We're not talking paltry sums here. *France's Societe Generale
> > > received $11.9 billion, Germany's Deutsche Bank got $11.8 billion, and
> > > Britain's Barclays was handed $8.5 billion. *In all, AIG distributed
> > > more than half of all the money it received from the US government to
> > > big international financial institutions. *Paulson's favorite
> > > investment bank, the defunct Goldman Sachs, got a whopping $12.9
> > > billion. *So our tax money, money badly needed to rejuvenate the US
> > > economy, is now lining the pockets of big money barons all over the
> > > world.
>
> > > The $450 million in proposed bonuses are pocket change compared to the
> > > $90 Billions being sent outside of the country. *But while our oh-so-
> > > frugal Congressmen and the financial experts in Washington are
> > > catatonic over a few million in bonuses, not a discouraging word is
> > > spoken about the greatest billion-dollar rip-off in the history of the
> > > world unfolding right under their noses.
>
> > > Deutsche Bank , and the UK's Barclays , were major beneficiaries of
> > > more than $90 billion (64 billion pounds) of money paid out by AIG in
> > > the first three-and-a-half months after its bailout by the U.S.
> > > government last September.
>
> > > Through three separate types of transactions, Goldman received an
> > > aggregate $12.9 billion. Among European banks,
> > > The payments include the provision of collateral to back up credit
> > > default swaps, a form of financial insurance that AIG was writing; the
> > > purchase of the collateralized debt obligations, a type of complex
> > > debt security that underlay that insurance; and payments to
> > > counterparties of a securities lending program.
>
> > > The figures released by AIG show amounts it paid to counterparties
> > > between September 16,
>
> > why are the democrats doing this? *one world order? *payback for
> > political donations? *or both.- Hide quoted text -
>
> > - Show quoted text -
>
> It's both parties, I'm afraid. *The payments started in September,
> when the Bush boys were running the show. *But nothing is being done
> to stop it now, so Obama will have to bear some of the blame. *Obama's
> biggest mistake was to keep Bernanke and to place people like Summers
> in positions of authority.
>
> If Obama wants to salvage something, he will have to force AIG into
> bankruptcy and get a bankruptcy judge to order the return of the
> recent payments to all those big financial houses. *It was stupid from
> the gitgo to allow the hopelessly insolvent AIG to remain in business.
>
> Then Obama should have his outspoken Attorney General speak loudly,
> swing a big stick, and haul the whole bunch, including AIG's new CEO,
> before a criminal court somewhere outside of New York where the people
> of the United States could get a fair and impartial hanging.

The contracts were negotiated under Bush.

They are legally binding.

Wanna bet that exec pay will be capped?

TMT

Too_Many_Tools
March 17th 09, 12:09 AM
On Mar 16, 1:09*pm, "Reverend Billy Bobby" > wrote:
> "BarackHelpsCorpsDestroyU.S." > wrote in message
>
> ...
>
> > why are the democrats doing this? *one world order? *payback for political
> > donations? *or both.
>
> Do you think you are fooling anyone with that typical GOP spin?

Only his mother that he lives with.

TMT

Too_Many_Tools
March 17th 09, 12:10 AM
On Mar 16, 6:00*pm, "BarackHelpsCorpsDestroyU.S." >
wrote:
> Curly Surmudgeon wrote:
> > On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:
>
> >> On Mar 16, 3:08 pm, snakehawk > wrote:
> >>> On Mar 16, 12:56 pm, "BarackHelpsCorpsDestroyU.S." >
> >>> wrote:
>
> >>>> snakehawk wrote:
> >>>>> On Mar 16, 11:28 am, Bart > wrote:
> >>>>>> This bunch of swindlers wouldn't have gotten a penny in bonus
> >>>>>> money regardless what their contracts called for if AIG had been
> >>>>>> forced into bankruptcy. *So why should they get that money after a
> >>>>>> taxpayer bailout?
> >>>>>> MARCH 16, 2009
> >>>>>> AIG Faces Growing Wrath Over Payouts
> >>>>>> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
> >>>>>> Troubled insurer American International Group Inc., now 80% owned
> >>>>>> by U.S. taxpayers, spent the weekend deflecting mounting criticism
> >>>>>> of how government funds have been funneled to various banks and
> >>>>>> used to pay employee bonuses at the business unit that almost sank
> >>>>>> the company.
> >>>>>> After calls for more transparency, AIG disclosed Sunday that
> >>>>>> roughly two-thirds of the $173.3 billion in federal aid it
> >>>>>> received has been paid out to trading partners such as banks and
> >>>>>> municipalities in the U.S. and abroad.
> >>>>>> AIG has been shelling out large sums elsewhere. On Sunday, new
> >>>>>> criticism emerged about $450 million in bonuses paid to employees
> >>>>>> of AIG's Financial Products unit, which made a series of bets on
> >>>>>> credit default swap contracts that drove $40.5 billion in losses
> >>>>>> last year.
> >>>>>> Lawrence Summers, the top White House economic adviser, termed the
> >>>>>> AIG bonuses "outrageous." While there are many troubling aspects
> >>>>>> of the financial crisis, "what's happened at AIG is the most
> >>>>>> outrageous," he said.
> >>>>>> At the same time, Mr. Summers said that "we are a country of law,"
> >>>>>> and added that the government can't simply abrogate the contracts.
> >>>>>> Mr. Summers spoke on ABC's "This Week."
> >>>>> It looks very much like the hoopla being raised in Washington and
> >>>>> the media about the AIG bonuses are a smokescreen, a diversion to
> >>>>> direct attention away from the really scandalous theft of billions
> >>>>> of US taxpayer dollars. *The article mentions almost in passing,
> >>>>> "two-thirds of the $173.3 billion in federal aid it received has
> >>>>> been paid out to trading partners such as banks and municipalities
> >>>>> in the U.S. and abroad."
> >>>>> Think about that: billions in US taxpayer money was transferred to
> >>>>> foreign banks! *No one even asks how shipping cash outside of the
> >>>>> country will help the US credit market or the economy. *And isn't
> >>>>> that what the bail out was all about?
> >>>>> We're not talking paltry sums here. *France's Societe Generale
> >>>>> received $11.9 billion, Germany's Deutsche Bank got $11.8 billion,
> >>>>> and Britain's Barclays was handed $8.5 billion. *In all, AIG
> >>>>> distributed more than half of all the money it received from the US
> >>>>> government to big international financial institutions. *Paulson's
> >>>>> favorite investment bank, the defunct Goldman Sachs, got a whopping
> >>>>> $12.9 billion. *So our tax money, money badly needed to rejuvenate
> >>>>> the US economy, is now lining the pockets of big money barons all
> >>>>> over the world.
> >>>>> The $450 million in proposed bonuses are pocket change compared to
> >>>>> the $90 Billions being sent outside of the country. *But while our
> >>>>> oh-so- frugal Congressmen and the financial experts in Washington
> >>>>> are catatonic over a few million in bonuses, not a discouraging
> >>>>> word is spoken about the greatest billion-dollar rip-off in the
> >>>>> history of the world unfolding right under their noses.
> >>>>> Deutsche Bank , and the UK's Barclays , were major beneficiaries of
> >>>>> more than $90 billion (64 billion pounds) of money paid out by AIG
> >>>>> in the first three-and-a-half months after its bailout by the U.S.
> >>>>> government last September.
> >>>>> Through three separate types of transactions, Goldman received an
> >>>>> aggregate $12.9 billion. Among European banks, The payments include
> >>>>> the provision of collateral to back up credit default swaps, a form
> >>>>> of financial insurance that AIG was writing; the purchase of the
> >>>>> collateralized debt obligations, a type of complex debt security
> >>>>> that underlay that insurance; and payments to counterparties of a
> >>>>> securities lending program.
> >>>>> The figures released by AIG show amounts it paid to counterparties
> >>>>> between September 16,
> >>>> why are the democrats doing this? *one world order? *payback for
> >>>> political donations? *or both.- Hide quoted text -
> >>>> - Show quoted text -
> >>> It's both parties, I'm afraid. *The payments started in September, when
> >>> the Bush boys were running the show.
> >> With the active participation of the Dems who controlled Congress at the
> >> time. *This isn't one party's mess.
>
> > Republicans have controlled Congress 23 of the last 28 years.
>
> >> When a company gets so big that the government doesn't dare let it fail,
> >> it's high time to let said company fail, the sooner the better.
>
> > True but don't spin the responsibility for allowing these disasters to
> > fester, that is solely Bush, his administrations, sycophants and the
> > Republicans.
>
> and everything was great till the dems took over.

LOL...how soon you forget that the house of cards came crashing down
on Bush's watch.

Hypocrite.

TMT

BarackHelpsCorpsDestroyU.S.
March 17th 09, 12:21 AM
Too_Many_Tools wrote:

>> and everything was great till the dems took over.
>
> LOL...how soon you forget that the house of cards came crashing down
> on Bush's watch.

Bush's fault that India, Russia, France, Iran economy crashed? Yepper,
according to you dums 1 man took out the whole world economy, eh. even
Canada? Brazil? how bout Venezuela? do you realize how oba moronic
you guys sound?

Curly Surmudgeon[_4_]
March 17th 09, 01:01 AM
On Mon, 16 Mar 2009 20:00:41 -0400, BarackHelpsCorpsDestroyU.S. wrote:

> Curly Surmudgeon wrote:
>> On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:
>>
>>> On Mar 16, 3:08 pm, snakehawk > wrote:
>>>> On Mar 16, 12:56 pm, "BarackHelpsCorpsDestroyU.S." >
>>>> wrote:
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>> snakehawk wrote:
>>>>>> On Mar 16, 11:28 am, Bart > wrote:
>>>>>>> This bunch of swindlers wouldn't have gotten a penny in bonus
>>>>>>> money regardless what their contracts called for if AIG had been
>>>>>>> forced into bankruptcy. So why should they get that money after a
>>>>>>> taxpayer bailout?
>>>>>>> MARCH 16, 2009
>>>>>>> AIG Faces Growing Wrath Over Payouts
>>>>>>> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY Troubled insurer
>>>>>>> American International Group Inc., now 80% owned by U.S.
>>>>>>> taxpayers, spent the weekend deflecting mounting criticism of how
>>>>>>> government funds have been funneled to various banks and used to
>>>>>>> pay employee bonuses at the business unit that almost sank the
>>>>>>> company.
>>>>>>> After calls for more transparency, AIG disclosed Sunday that
>>>>>>> roughly two-thirds of the $173.3 billion in federal aid it
>>>>>>> received has been paid out to trading partners such as banks and
>>>>>>> municipalities in the U.S. and abroad. AIG has been shelling out
>>>>>>> large sums elsewhere. On Sunday, new criticism emerged about $450
>>>>>>> million in bonuses paid to employees of AIG's Financial Products
>>>>>>> unit, which made a series of bets on credit default swap contracts
>>>>>>> that drove $40.5 billion in losses last year.
>>>>>>> Lawrence Summers, the top White House economic adviser, termed the
>>>>>>> AIG bonuses "outrageous." While there are many troubling aspects
>>>>>>> of the financial crisis, "what's happened at AIG is the most
>>>>>>> outrageous," he said.
>>>>>>> At the same time, Mr. Summers said that "we are a country of law,"
>>>>>>> and added that the government can't simply abrogate the contracts.
>>>>>>> Mr. Summers spoke on ABC's "This Week."
>>>>>> It looks very much like the hoopla being raised in Washington and
>>>>>> the media about the AIG bonuses are a smokescreen, a diversion to
>>>>>> direct attention away from the really scandalous theft of billions
>>>>>> of US taxpayer dollars. The article mentions almost in passing,
>>>>>> "two-thirds of the $173.3 billion in federal aid it received has
>>>>>> been paid out to trading partners such as banks and municipalities
>>>>>> in the U.S. and abroad."
>>>>>> Think about that: billions in US taxpayer money was transferred to
>>>>>> foreign banks! No one even asks how shipping cash outside of the
>>>>>> country will help the US credit market or the economy. And isn't
>>>>>> that what the bail out was all about? We're not talking paltry sums
>>>>>> here. France's Societe Generale received $11.9 billion, Germany's
>>>>>> Deutsche Bank got $11.8 billion, and Britain's Barclays was handed
>>>>>> $8.5 billion. In all, AIG distributed more than half of all the
>>>>>> money it received from the US government to big international
>>>>>> financial institutions. Paulson's favorite investment bank, the
>>>>>> defunct Goldman Sachs, got a whopping $12.9 billion. So our tax
>>>>>> money, money badly needed to rejuvenate the US economy, is now
>>>>>> lining the pockets of big money barons all over the world.
>>>>>> The $450 million in proposed bonuses are pocket change compared to
>>>>>> the $90 Billions being sent outside of the country. But while our
>>>>>> oh-so- frugal Congressmen and the financial experts in Washington
>>>>>> are catatonic over a few million in bonuses, not a discouraging
>>>>>> word is spoken about the greatest billion-dollar rip-off in the
>>>>>> history of the world unfolding right under their noses. Deutsche
>>>>>> Bank , and the UK's Barclays , were major beneficiaries of more
>>>>>> than $90 billion (64 billion pounds) of money paid out by AIG in
>>>>>> the first three-and-a-half months after its bailout by the U.S.
>>>>>> government last September.
>>>>>> Through three separate types of transactions, Goldman received an
>>>>>> aggregate $12.9 billion. Among European banks, The payments include
>>>>>> the provision of collateral to back up credit default swaps, a form
>>>>>> of financial insurance that AIG was writing; the purchase of the
>>>>>> collateralized debt obligations, a type of complex debt security
>>>>>> that underlay that insurance; and payments to counterparties of a
>>>>>> securities lending program.
>>>>>> The figures released by AIG show amounts it paid to counterparties
>>>>>> between September 16,
>>>>> why are the democrats doing this? one world order? payback for
>>>>> political donations? or both.- Hide quoted text - - Show quoted
>>>>> text -
>>>> It's both parties, I'm afraid. The payments started in September,
>>>> when the Bush boys were running the show.
>>> With the active participation of the Dems who controlled Congress at
>>> the time. This isn't one party's mess.
>>
>> Republicans have controlled Congress 23 of the last 28 years.
>>
>>> When a company gets so big that the government doesn't dare let it
>>> fail, it's high time to let said company fail, the sooner the better.
>>
>> True but don't spin the responsibility for allowing these disasters to
>> fester, that is solely Bush, his administrations, sycophants and the
>> Republicans.
>>
> and everything was great till the dems took over.

Only on Planet Bizarro.

--
Regards, Curly
------------------------------------------------------------------------------
$8,800,000,000,000.00, Angry Yet?
Arrest Bush
------------------------------------------------------------------------------

Curly Surmudgeon[_4_]
March 17th 09, 01:01 AM
On Mon, 16 Mar 2009 20:21:08 -0400, BarackHelpsCorpsDestroyU.S. wrote:

> Too_Many_Tools wrote:
>
>>> and everything was great till the dems took over.
>>
>> LOL...how soon you forget that the house of cards came crashing down on
>> Bush's watch.
>
> Bush's fault that India, Russia, France, Iran economy crashed? Yepper,
> according to you dums 1 man took out the whole world economy, eh. even
> Canada? Brazil? how bout Venezuela? do you realize how oba moronic
> you guys sound?

Do you realize how ignorant you sound?

--
Regards, Curly
------------------------------------------------------------------------------
$8,800,000,000,000.00, Angry Yet?
Arrest Bush
------------------------------------------------------------------------------

Curly Surmudgeon[_4_]
March 17th 09, 01:02 AM
On Mon, 16 Mar 2009 15:16:42 -0400, BarackHelpsCorpsDestroyU.S. wrote:

> Reverend Billy Bobby wrote:
>> "BarackHelpsCorpsDestroyU.S." > wrote in message
>> ...
>>> why are the democrats doing this? one world order? payback for
>>> political donations? or both.
>>
>> Do you think you are fooling anyone with that typical GOP spin?
>>
>>
> I"m a black democrat. u r a racist.

Heh, right. He's a racist because he disagrees with Republicans.

--
Regards, Curly
------------------------------------------------------------------------------
$8,800,000,000,000.00, Angry Yet?
Arrest Bush
------------------------------------------------------------------------------

BarackHelpsCorpsDestroyU.S.
March 17th 09, 02:10 AM
Curly Surmudgeon wrote:
> On Mon, 16 Mar 2009 20:00:41 -0400, BarackHelpsCorpsDestroyU.S. wrote:
>
>> Curly Surmudgeon wrote:
>>> On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:
>>>
>>>> On Mar 16, 3:08 pm, snakehawk > wrote:
>>>>> On Mar 16, 12:56 pm, "BarackHelpsCorpsDestroyU.S." >
>>>>> wrote:
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>
>>>>>> snakehawk wrote:
>>>>>>> On Mar 16, 11:28 am, Bart > wrote:
>>>>>>>> This bunch of swindlers wouldn't have gotten a penny in bonus
>>>>>>>> money regardless what their contracts called for if AIG had been
>>>>>>>> forced into bankruptcy. So why should they get that money after a
>>>>>>>> taxpayer bailout?
>>>>>>>> MARCH 16, 2009
>>>>>>>> AIG Faces Growing Wrath Over Payouts
>>>>>>>> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY Troubled insurer
>>>>>>>> American International Group Inc., now 80% owned by U.S.
>>>>>>>> taxpayers, spent the weekend deflecting mounting criticism of how
>>>>>>>> government funds have been funneled to various banks and used to
>>>>>>>> pay employee bonuses at the business unit that almost sank the
>>>>>>>> company.
>>>>>>>> After calls for more transparency, AIG disclosed Sunday that
>>>>>>>> roughly two-thirds of the $173.3 billion in federal aid it
>>>>>>>> received has been paid out to trading partners such as banks and
>>>>>>>> municipalities in the U.S. and abroad. AIG has been shelling out
>>>>>>>> large sums elsewhere. On Sunday, new criticism emerged about $450
>>>>>>>> million in bonuses paid to employees of AIG's Financial Products
>>>>>>>> unit, which made a series of bets on credit default swap contracts
>>>>>>>> that drove $40.5 billion in losses last year.
>>>>>>>> Lawrence Summers, the top White House economic adviser, termed the
>>>>>>>> AIG bonuses "outrageous." While there are many troubling aspects
>>>>>>>> of the financial crisis, "what's happened at AIG is the most
>>>>>>>> outrageous," he said.
>>>>>>>> At the same time, Mr. Summers said that "we are a country of law,"
>>>>>>>> and added that the government can't simply abrogate the contracts.
>>>>>>>> Mr. Summers spoke on ABC's "This Week."
>>>>>>> It looks very much like the hoopla being raised in Washington and
>>>>>>> the media about the AIG bonuses are a smokescreen, a diversion to
>>>>>>> direct attention away from the really scandalous theft of billions
>>>>>>> of US taxpayer dollars. The article mentions almost in passing,
>>>>>>> "two-thirds of the $173.3 billion in federal aid it received has
>>>>>>> been paid out to trading partners such as banks and municipalities
>>>>>>> in the U.S. and abroad."
>>>>>>> Think about that: billions in US taxpayer money was transferred to
>>>>>>> foreign banks! No one even asks how shipping cash outside of the
>>>>>>> country will help the US credit market or the economy. And isn't
>>>>>>> that what the bail out was all about? We're not talking paltry sums
>>>>>>> here. France's Societe Generale received $11.9 billion, Germany's
>>>>>>> Deutsche Bank got $11.8 billion, and Britain's Barclays was handed
>>>>>>> $8.5 billion. In all, AIG distributed more than half of all the
>>>>>>> money it received from the US government to big international
>>>>>>> financial institutions. Paulson's favorite investment bank, the
>>>>>>> defunct Goldman Sachs, got a whopping $12.9 billion. So our tax
>>>>>>> money, money badly needed to rejuvenate the US economy, is now
>>>>>>> lining the pockets of big money barons all over the world.
>>>>>>> The $450 million in proposed bonuses are pocket change compared to
>>>>>>> the $90 Billions being sent outside of the country. But while our
>>>>>>> oh-so- frugal Congressmen and the financial experts in Washington
>>>>>>> are catatonic over a few million in bonuses, not a discouraging
>>>>>>> word is spoken about the greatest billion-dollar rip-off in the
>>>>>>> history of the world unfolding right under their noses. Deutsche
>>>>>>> Bank , and the UK's Barclays , were major beneficiaries of more
>>>>>>> than $90 billion (64 billion pounds) of money paid out by AIG in
>>>>>>> the first three-and-a-half months after its bailout by the U.S.
>>>>>>> government last September.
>>>>>>> Through three separate types of transactions, Goldman received an
>>>>>>> aggregate $12.9 billion. Among European banks, The payments include
>>>>>>> the provision of collateral to back up credit default swaps, a form
>>>>>>> of financial insurance that AIG was writing; the purchase of the
>>>>>>> collateralized debt obligations, a type of complex debt security
>>>>>>> that underlay that insurance; and payments to counterparties of a
>>>>>>> securities lending program.
>>>>>>> The figures released by AIG show amounts it paid to counterparties
>>>>>>> between September 16,
>>>>>> why are the democrats doing this? one world order? payback for
>>>>>> political donations? or both.- Hide quoted text - - Show quoted
>>>>>> text -
>>>>> It's both parties, I'm afraid. The payments started in September,
>>>>> when the Bush boys were running the show.
>>>> With the active participation of the Dems who controlled Congress at
>>>> the time. This isn't one party's mess.
>>> Republicans have controlled Congress 23 of the last 28 years.
>>>
>>>> When a company gets so big that the government doesn't dare let it
>>>> fail, it's high time to let said company fail, the sooner the better.
>>> True but don't spin the responsibility for allowing these disasters to
>>> fester, that is solely Bush, his administrations, sycophants and the
>>> Republicans.
>>>
>> and everything was great till the dems took over.
>
> Only on Planet Bizarro.
>
where u live.

Who i$ John Galt
March 17th 09, 03:32 AM
BarackHelpsCorpsDestroyU.S. wrote:
> Too_Many_Tools wrote:
>
>>> and everything was great till the dems took over.
>>
>> LOL...how soon you forget that the house of cards came crashing down
>> on Bush's watch.
>
> Bush's fault that India, Russia, France, Iran economy crashed? Yepper,
> according to you dums 1 man took out the whole world economy, eh. even
> Canada? Brazil? how bout Venezuela? do you realize how oba moronic
> you guys sound?

Obama reelection campaign is started and the BUMPER STICKERS will read,


Obama for president - because if it's wrong - Bush did it!

and

Obama didn't do it, Bush did.


and

Obama, because he's not quite as stupid as Bush is.




GOOD LUCK IN 2012

Who i$ John Galt
March 17th 09, 03:33 AM
Too_Many_Tools wrote:
> On Mar 16, 6:00 pm, "BarackHelpsCorpsDestroyU.S." >
> wrote:
>> Curly Surmudgeon wrote:
>>> On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:
>>>> On Mar 16, 3:08 pm, snakehawk > wrote:
>>>>> On Mar 16, 12:56 pm, "BarackHelpsCorpsDestroyU.S." >
>>>>> wrote:
>>>>>> snakehawk wrote:
>>>>>>> On Mar 16, 11:28 am, Bart > wrote:
>>>>>>>> This bunch of swindlers wouldn't have gotten a penny in bonus
>>>>>>>> money regardless what their contracts called for if AIG had been
>>>>>>>> forced into bankruptcy. So why should they get that money after a
>>>>>>>> taxpayer bailout?
>>>>>>>> MARCH 16, 2009
>>>>>>>> AIG Faces Growing Wrath Over Payouts
>>>>>>>> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>>>>>>>> Troubled insurer American International Group Inc., now 80% owned
>>>>>>>> by U.S. taxpayers, spent the weekend deflecting mounting criticism
>>>>>>>> of how government funds have been funneled to various banks and
>>>>>>>> used to pay employee bonuses at the business unit that almost sank
>>>>>>>> the company.
>>>>>>>> After calls for more transparency, AIG disclosed Sunday that
>>>>>>>> roughly two-thirds of the $173.3 billion in federal aid it
>>>>>>>> received has been paid out to trading partners such as banks and
>>>>>>>> municipalities in the U.S. and abroad.
>>>>>>>> AIG has been shelling out large sums elsewhere. On Sunday, new
>>>>>>>> criticism emerged about $450 million in bonuses paid to employees
>>>>>>>> of AIG's Financial Products unit, which made a series of bets on
>>>>>>>> credit default swap contracts that drove $40.5 billion in losses
>>>>>>>> last year.
>>>>>>>> Lawrence Summers, the top White House economic adviser, termed the
>>>>>>>> AIG bonuses "outrageous." While there are many troubling aspects
>>>>>>>> of the financial crisis, "what's happened at AIG is the most
>>>>>>>> outrageous," he said.
>>>>>>>> At the same time, Mr. Summers said that "we are a country of law,"
>>>>>>>> and added that the government can't simply abrogate the contracts.
>>>>>>>> Mr. Summers spoke on ABC's "This Week."
>>>>>>> It looks very much like the hoopla being raised in Washington and
>>>>>>> the media about the AIG bonuses are a smokescreen, a diversion to
>>>>>>> direct attention away from the really scandalous theft of billions
>>>>>>> of US taxpayer dollars. The article mentions almost in passing,
>>>>>>> "two-thirds of the $173.3 billion in federal aid it received has
>>>>>>> been paid out to trading partners such as banks and municipalities
>>>>>>> in the U.S. and abroad."
>>>>>>> Think about that: billions in US taxpayer money was transferred to
>>>>>>> foreign banks! No one even asks how shipping cash outside of the
>>>>>>> country will help the US credit market or the economy. And isn't
>>>>>>> that what the bail out was all about?
>>>>>>> We're not talking paltry sums here. France's Societe Generale
>>>>>>> received $11.9 billion, Germany's Deutsche Bank got $11.8 billion,
>>>>>>> and Britain's Barclays was handed $8.5 billion. In all, AIG
>>>>>>> distributed more than half of all the money it received from the US
>>>>>>> government to big international financial institutions. Paulson's
>>>>>>> favorite investment bank, the defunct Goldman Sachs, got a whopping
>>>>>>> $12.9 billion. So our tax money, money badly needed to rejuvenate
>>>>>>> the US economy, is now lining the pockets of big money barons all
>>>>>>> over the world.
>>>>>>> The $450 million in proposed bonuses are pocket change compared to
>>>>>>> the $90 Billions being sent outside of the country. But while our
>>>>>>> oh-so- frugal Congressmen and the financial experts in Washington
>>>>>>> are catatonic over a few million in bonuses, not a discouraging
>>>>>>> word is spoken about the greatest billion-dollar rip-off in the
>>>>>>> history of the world unfolding right under their noses.
>>>>>>> Deutsche Bank , and the UK's Barclays , were major beneficiaries of
>>>>>>> more than $90 billion (64 billion pounds) of money paid out by AIG
>>>>>>> in the first three-and-a-half months after its bailout by the U.S.
>>>>>>> government last September.
>>>>>>> Through three separate types of transactions, Goldman received an
>>>>>>> aggregate $12.9 billion. Among European banks, The payments include
>>>>>>> the provision of collateral to back up credit default swaps, a form
>>>>>>> of financial insurance that AIG was writing; the purchase of the
>>>>>>> collateralized debt obligations, a type of complex debt security
>>>>>>> that underlay that insurance; and payments to counterparties of a
>>>>>>> securities lending program.
>>>>>>> The figures released by AIG show amounts it paid to counterparties
>>>>>>> between September 16,
>>>>>> why are the democrats doing this? one world order? payback for
>>>>>> political donations? or both.- Hide quoted text -
>>>>>> - Show quoted text -
>>>>> It's both parties, I'm afraid. The payments started in September, when
>>>>> the Bush boys were running the show.
>>>> With the active participation of the Dems who controlled Congress at the
>>>> time. This isn't one party's mess.
>>> Republicans have controlled Congress 23 of the last 28 years.
>>>> When a company gets so big that the government doesn't dare let it fail,
>>>> it's high time to let said company fail, the sooner the better.
>>> True but don't spin the responsibility for allowing these disasters to
>>> fester, that is solely Bush, his administrations, sycophants and the
>>> Republicans.
>> and everything was great till the dems took over.
>
> LOL...how soon you forget that the house of cards came crashing down
> on Bush's watch.
>
> Hypocrite.

Why does it continue to get worse on Obama's watch?

Alan Bowler
March 17th 09, 07:43 PM
Too_Many_Tools wrote:>> of the United States could get a fair and impartial hanging.
>
> The contracts were negotiated under Bush.
>
> They are legally binding.

There is some question about this.
Check out Michael Lewitt's comments on "As It Happens" yesterday.
http://www.cbc.ca/radioshows/AS_IT_HAPPENS/20090316.shtml
>
> Wanna bet that exec pay will be capped?

Lawyerkill
March 17th 09, 08:14 PM
On Mar 17, 3:43�pm, Alan Bowler > wrote:
> Too_Many_Tools wrote:>> of the United States could get a fair and impartial hanging.
>
> > The contracts were negotiated under Bush.
>
> > They are legally binding.
>
> There is some question about this.
> Check out Michael Lewitt's comments on "As It Happens" yesterday.http://www.cbc.ca/radioshows/AS_IT_HAPPENS/20090316.shtml
>
>
>
>
>
> > Wanna bet that exec pay will be capped?- Hide quoted text -
>
> - Show quoted text -

Is Lewitt a lawyer?

Jerry Okamura
March 28th 09, 05:40 AM
"Curly Surmudgeon" > wrote in message
...
> On Mon, 16 Mar 2009 12:21:43 -0700, Firelock wrote:
>
>> On Mar 16, 3:08 pm, snakehawk > wrote:
>>> On Mar 16, 12:56 pm, "BarackHelpsCorpsDestroyU.S." >
>>> wrote:
>>>
>>>
>>>
>>>
>>>
>>> > snakehawk wrote:
>>> > > On Mar 16, 11:28 am, Bart > wrote:
>>> > >> This bunch of swindlers wouldn't have gotten a penny in bonus
>>> > >> money regardless what their contracts called for if AIG had been
>>> > >> forced into bankruptcy. So why should they get that money after a
>>> > >> taxpayer bailout?
>>>
>>> > >> MARCH 16, 2009
>>>
>>> > >> AIG Faces Growing Wrath Over Payouts
>>>
>>> > >> By LIAM PLEVEN, SERENA NG and SUDEEP REDDY
>>>
>>> > >> Troubled insurer American International Group Inc., now 80% owned
>>> > >> by U.S. taxpayers, spent the weekend deflecting mounting criticism
>>> > >> of how government funds have been funneled to various banks and
>>> > >> used to pay employee bonuses at the business unit that almost sank
>>> > >> the company.
>>>
>>> > >> After calls for more transparency, AIG disclosed Sunday that
>>> > >> roughly two-thirds of the $173.3 billion in federal aid it
>>> > >> received has been paid out to trading partners such as banks and
>>> > >> municipalities in the U.S. and abroad.
>>>
>>> > >> AIG has been shelling out large sums elsewhere. On Sunday, new
>>> > >> criticism emerged about $450 million in bonuses paid to employees
>>> > >> of AIG's Financial Products unit, which made a series of bets on
>>> > >> credit default swap contracts that drove $40.5 billion in losses
>>> > >> last year.
>>>
>>> > >> Lawrence Summers, the top White House economic adviser, termed the
>>> > >> AIG bonuses "outrageous." While there are many troubling aspects
>>> > >> of the financial crisis, "what's happened at AIG is the most
>>> > >> outrageous," he said.
>>>
>>> > >> At the same time, Mr. Summers said that "we are a country of law,"
>>> > >> and added that the government can't simply abrogate the contracts.
>>> > >> Mr. Summers spoke on ABC's "This Week."
>>>
>>> > > It looks very much like the hoopla being raised in Washington and
>>> > > the media about the AIG bonuses are a smokescreen, a diversion to
>>> > > direct attention away from the really scandalous theft of billions
>>> > > of US taxpayer dollars. The article mentions almost in passing,
>>> > > "two-thirds of the $173.3 billion in federal aid it received has
>>> > > been paid out to trading partners such as banks and municipalities
>>> > > in the U.S. and abroad."
>>>
>>> > > Think about that: billions in US taxpayer money was transferred to
>>> > > foreign banks! No one even asks how shipping cash outside of the
>>> > > country will help the US credit market or the economy. And isn't
>>> > > that what the bail out was all about?
>>>
>>> > > We're not talking paltry sums here. France's Societe Generale
>>> > > received $11.9 billion, Germany's Deutsche Bank got $11.8 billion,
>>> > > and Britain's Barclays was handed $8.5 billion. In all, AIG
>>> > > distributed more than half of all the money it received from the US
>>> > > government to big international financial institutions. Paulson's
>>> > > favorite investment bank, the defunct Goldman Sachs, got a whopping
>>> > > $12.9 billion. So our tax money, money badly needed to rejuvenate
>>> > > the US economy, is now lining the pockets of big money barons all
>>> > > over the world.
>>>
>>> > > The $450 million in proposed bonuses are pocket change compared to
>>> > > the $90 Billions being sent outside of the country. But while our
>>> > > oh-so- frugal Congressmen and the financial experts in Washington
>>> > > are catatonic over a few million in bonuses, not a discouraging
>>> > > word is spoken about the greatest billion-dollar rip-off in the
>>> > > history of the world unfolding right under their noses.
>>>
>>> > > Deutsche Bank , and the UK's Barclays , were major beneficiaries of
>>> > > more than $90 billion (64 billion pounds) of money paid out by AIG
>>> > > in the first three-and-a-half months after its bailout by the U.S.
>>> > > government last September.
>>>
>>> > > Through three separate types of transactions, Goldman received an
>>> > > aggregate $12.9 billion. Among European banks, The payments include
>>> > > the provision of collateral to back up credit default swaps, a form
>>> > > of financial insurance that AIG was writing; the purchase of the
>>> > > collateralized debt obligations, a type of complex debt security
>>> > > that underlay that insurance; and payments to counterparties of a
>>> > > securities lending program.
>>>
>>> > > The figures released by AIG show amounts it paid to counterparties
>>> > > between September 16,
>>>
>>> > why are the democrats doing this? one world order? payback for
>>> > political donations? or both.- Hide quoted text -
>>>
>>> > - Show quoted text -
>>>
>>> It's both parties, I'm afraid. The payments started in September, when
>>> the Bush boys were running the show.
>>
>> With the active participation of the Dems who controlled Congress at the
>> time. This isn't one party's mess.
>
> Republicans have controlled Congress 23 of the last 28 years.
>
>> When a company gets so big that the government doesn't dare let it fail,
>> it's high time to let said company fail, the sooner the better.
>
> True but don't spin the responsibility for allowing these disasters to
> fester, that is solely Bush, his administrations, sycophants and the
> Republicans.
>
How so?