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Some banks that were paid by AIG after it was bailed out by the government
* Goldman Sachs
* Deutsche Bank
* Merrill Lynch
* Société Générale
* Royal Bank of Scotland
* Banco Santander
* Morgan Stanley
* Bank of America
* Lloyds Banking Group
The beneficiaries of the government's bailout of American International Group Inc. include at least two dozen U.S. and foreign financial institutions that have been paid roughly $50 billion since the Federal Reserve first extended aid to the insurance giant.
Among those institutions are Goldman Sachs Group Inc. and Germany's Deutsche Bank AG, each of which received roughly $6 billion in payments between mid-September and December 2008, according to a confidential document and people familiar with the matter.
The right has a new hero to lead the Tea Party revolts Rick Santelli started: John Galt.
According to the Ayn Rand Center for Individual Rights, sales of Atlas Shrugged hit an all-time high last year, and have “almost tripled” in the first seven weeks of 2009 against last year.
Michelle Malkin is the Norma Rae of this Galt moment, walking the virtual shop floors of the country’s “wealth producers,” but instead of “Strike!” her sign reads “Going Galt!”
In her syndicated column this week, Malkin explains:
While they take to the streets politically, untold numbers of America’s wealth producers are going on strike financially. Dr. Helen Smith, a Knoxville forensic pathologist and political blogger, dubbed the phenomenon “Going Galt” last fall. It’s a reference to the famed Ayn Rand novel, “Atlas Shrugged,” in which protagonist John Galt leads the entrepreneur class to cease productive activities in order to starve the government of revenue. (Not coincidentally, Rand’s novel sales are up and John Galt references punctuated many of the Tea Party demonstrations.)
Wait. John Galt?
If you need a refresh, here’s a semi-snarky one courtesy of Tristero at Hullabaloo:
John Galt is the copper-haired, white-boy protagonist in Ayn Rand’s Atlas Shrugged. Galt leads a revolutionary movement in which all the top leaders of the banks and corporations forsake their corporate jets and perks to work in diners or as subway repair guys. No they weren’t fired by Galt. Rather, Galt urged them to go on strike and withdraw their expertise from an increasingly socialist world. Deprived of the genius of their genius, the world economy collapses.
Who exactly is thinking about Going Galt? Lisa Schifferen at The Corner has the rundown:
The doctors, lawyers, engineers, executives, serious small-business owners, top salespeople, and other professionals and entrepreneurs who make this country run work considerably harder than pretty much anyone else (including most of the chattering class, and all politicians). They are not robber barons, or trust-fund babies, or plutocrats, or even celebrities. They are mostly the meritocrats who worked hard in high school and got into the better colleges and grad schools, where they studied while others partied. They pushed through grueling hours and unpleasant “up or out” policies in their twenties and thirties at top law firms, banks, hospitals, and businesses to earn salaries in the solid six figures (or low seven) today — in their peak earning years. Their work ethic is prodigious, and . . . in their spare time they sit on the boards of most of the complex charities and arts institutions that provide aid and pay for culture in America. No group of people contribute more to their community. And now the president, who followed a path sort of like that, and who claims that his wife’s former six-figure income was a result of precisely such qualifications and efforts, is demonizing them. More problematically, he is penalizing their success and giving them very clear incentives to ratchet back on productivity.
So, what happens when the heart surgeons, dentists, litigators, and people who employ 10 or 20 other people in their mid-size businesses decide that they don’t want to pay for the excessive, pointless spending that the president finds so compelling? Instapundit speculates on people “going John Galt.” I think golf — a time-intensive sport that the hard-working have eschewed for the past decade or two because it took too long — will make a comeback.
Kepler Mission to Hunt for Earth-like Planets
Are there other worlds like ours? Are we alone?