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Politics : Politics of Energy
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To: steve harris who wrote (8453)5/23/2009 5:37:41 PM
From: RetiredNow  Read Replies (1) of 86356
 
Ruining the lives of hundreds of millions of Americans by taking away 40-50% of their savings was also something that should concern you, before you start worrying about a few millionaires at AIG.

Firing CEOs? Obama didn't fire anyone. The media put it that way, but the fact is that Geithner put pressure on the board and they fired the CEO. That's legal. The B.O.D. could have given the finger to Geithner, decided not to take a dime from the Gov't, and gone straight to bankruptcy. That was their option. But they decided to take the loans and the condition was to get rid of the CEO.

If you know anything about creditors and shareholders, you'll understand that this happens all the time. The only difference is that our gov't, meaning you and me, were the one's making the loans this time. And that makes Obama our de facto representative in those talks. So he has every right to make demands on our behalf to safeguard the money we are loaning those dead beats. There was nothing illegal about it.
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