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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (33884)3/20/2009 7:46:56 AM
From: Madharry  Read Replies (2) of 78748
 
what is more interesting to me is that Dodd first of all said that he didnt know anything about the bonus issue. Now it turns out that a. there was a clause in there initially but it was removed by him at the behest of 2 low level treasury people, according to Dodd. b. AIG greased the palms, oops i mispoke, made campaign contributions to of many of our top politicians including Obama Dodd Biden McCain. Dodd should be out of there too. I believe that the big story here is how the US taxpayer went on the hook here for a couple of hundred billion dollars, who made that decision, how was it made, and was it really neccessary. It seems like most of the beneficiaries of the bailout were not major us banks as obama alluded to in one of his off the cuff interviews but Goldman Sucks and foreign banks, so why did they do it? the reward for failure if you are a capitalist which all these anti union banks profess to be is bankruptcy not a taxpayer bail out.
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