We all are pissed at the underhanded way AIG spent the bailout money but let’s look deeper than the 25/7 news shows.
AIG received billions of our money (well the money we would have made before the stimulus pork frenzy). When this money was given Senator Dodd wrote into the bailout an exemption that allowed the company to keep bonuses promised and that no cap on bonuses should be allowed. Senator Dodd by the way was the greatest recipient of money from these guys in the last election, which technically makes the bailout an earmark but I digress.
The bonuses were actually retention bonuses that were promised BEFORE the bailout and Congress knew about it and went ahead of the bailout anyway. Now they are playing the American people in a drama they created. A retention bonus is meant to keep employees when the company is going to close. AIG was in big trouble and failing and everyone in congress knew it. The stimulus was meant to save AIG and , yes, RETAIN it’s employees. Congress was fully aware this is what the stimulus was for. Maybe Obama did not since he has not read any bailouts, stimuli, or budgets yet.
Here is the dig. AIG was given billion and they in turn gave billions to banks around the world. Try this for a conspiracy; AIG was failing, the banks knew it, the failure was planned and the bailouts were laundered through AIG to the banks, now with no control of the money ( it’s spread world wide at this point), the American people can”t follow the money.
AIG is the largest insurer of Banks. They let AIG fail so the bankers can pull a profit of FREE money and Congress will get kickbacks and glory for fixing the banking system and AIG. Should AIG exixst now since the insurance has switched to bailouts for every failing financial company that comes crying?
We should not be so mad at the guys receiving the bonuses as they were going to leave AIG, but congress RETAINED them with the bailout. We should also be angry with the bankers that planned this fiasco but morso with the leaders that ALLOWED it and in Dodd’s case promoted it. 11 employees did leave AIG before this. Congress is crying foul. The only foul is the way this thing smells to a single income dad working his ass off to pay this crap back.
If anyone of you Liberal or Conservative, even you slimy Moderate Americans vote for any sitting Senator or Congressman in the next election you are either a complete moron with the memory of a goldfish or a Socialist that would love to see the demise of the American economy.
Will you true patriots PLEASE take a stand. Quit watching all the 25/7 news shows and call these guys out!
Yeah Yeah, I mis-spelled conspiracy. I was reloading my weapon at the time. My bad.