Tuesday, March 17, 2009

AIG Is A Money Launderer Of The U.S Government?

Wall Street Journal Opinion Page
The Real AIG Outrage
....Since September 16, AIG has sent $120 billion in cash, collateral and other payouts to banks, municipal governments and other derivative counterparties around the world. This includes at least $20 billion to European banks. The list also includes American charity cases like Goldman Sachs, which received at least $13 billion. This comes after months of claims by Goldman that all of its AIG bets were adequately hedged and that it needed no "bailout." Why take $13 billion then? This needless cover-up is one reason Americans are getting angrier as they wonder if Washington is lying to them about these bailouts...

I would like to know why the U.S. government forced banks to take the bailout money under the public guise of pumping up the mortgage side of the business (though all the convoluted derivatives), while telling the banks the money was to be held so they could buy weak banks when the time came.

I pretty much want to scream when I hear anyone (including Chuck Grassley) complain about the bonuses and how the bailout money is being spent. They where the ones who rushed through the bailout without putting the correct language in the bill to begin with! These Senators & Congressman are the S.O.B.'s who caused this mess to begin with! The gall!!!

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