AIG Massive Payments to Banks Stoke Bailout Rage

AIG Massive Payments to Banks Stoke Bailout Rage

www.reuters.com

But the revelations that billions of U.S. taxpayer dollars were funneled through AIG to Goldman Sachs -- one of Wall Street's most politically connected firms -- and to European banks including Deutsche Bank, France's Societe Generale and the UK's Barclays could stoke further outrage at the entire U.S. bank bailout.

FINANCIAL SYSTEM AT STAKE?

The fact that billions of dollars given to prop up giant insurer AIG were then transferred to European banks and Wall Street investment houses could raise new doubts about whether the rescue was really economically necessary.

"It doesn't to me seem fair that the American taxpayer has got to bear the 100 percent of the downside," said Campbell Harvey, a finance professor at Duke University.

"A hedge is not a hedge if you did not factor in the counterparty risk. And the U.S. taxpayer should not be obligated to make people whole for hedges that were not properly executed."

(visit the link for the full news article)

This just keeps getting better and better! [/sarcasm]

How is sending all this taxpayer bailout money overseas going to help the average American taxpayer?

I think the government should oversee where this bailout money should be spent by these companies that are receiving these bailouts to ensure that they are spending the money in ways that will help the US economy the most.

Maybe sending $23 billion to Europe WAS in the best interest of the US economy, but I can't help feeling that money could have done more good being spent in the US.

I wish there was a site where you could see exactly where all this money is going!

www.reuters.com
(visit the link for the full news article)

and they pick on GM workers for making $30/hr while these thiefs are taking home millions. These outsized compensation packages all ultimately come from us and make everything in life more expensive.

What did you truly expect?

I mean come on folks, we were bailing out the BANKS! Did you guys really expect the crooks who got us into this mess to actually use the money to ease the economy? No, ofcourse not, they need to keep their other little vested interests alive in Europe so they can keep a stranglehold there as well.

It's funny how it didn't matter who won the election, they both had the same idea, let's throw money at it, that will make it all better. This administration is one of the most wall-street infested ones that we've seen in a long time, and more of this is coming.

They are going to keep finding ways to give big business more government money, given to them by taxpayers to fix the country. This is the enslavement we live in. This is our prison, our economic system.

Welcome and enjoy your stay, it's going to be a while!

~Keeper

The corruption in america is just so unbelievable. And the only way to stop it is thru violence. Americans need to physically attack corrupt businessmen and officials and juries need to acquit the attackers. Guns and jury nullification are the answer.

It seems to me that we are paying because our own 'players' stood to lose money if we didn't. And besides, it was never 'our' call.

The Fed is in charge of this nation.

That's why only 'club members' ever get to be decision makers.

I tell you, the "money is now sitting in financial institutions worldwide. Doing nothing. Not effecting the economy - yet.

Meanwhile, they are selling debt worldwide. But when they have sold all the debt they can, when that market is "saturated," THEN it will begin.

They will flush these funds into the economy in one swell foop, creating Naziesque hyper-inflation. And the world will collapse...

And They will move in, offering Their NWO as a "solution."

And then they will begin the extermination plans.

That is...

IF we don't do something about this VERY soon. And here is where I bring up my book, which I (and many readers now) believe could solve the issues we have and lead us into a glorious future.

I have an Introduction and the Book linked separately in my sig, and have a PDF I am willing to send out via email to any brave enough to give me an email, which includes the Intro, a typo correction, and a few tweaks for clarity.

All these "going on's" behind the scenes by these companies receiving theses bailouts are suppose to be freeing up money so that people can get loans.

AIG massive payments to banks stoke bailout rage

As more Americans lose their jobs and homes, Obama's new administration is under heavy pressure to show that the rescue plan for AIG and major banks is working to free up lending and rein in the riskier excesses of Wall Street.

But how many people are actually going to have a good enough credit rating to even GET a loan by the time there done playing with the money "behind the scene"?

It seems to me that by the time that this money will be available for loans, most people's credit rating is going to be shot and they won't be able to get a loan when thie money is finally available.

reply to post by Keyhole


Keyhoke remember that long thread that was started by Worldwatcher during the first bail out? where many of the ATS members voiced their outrage?

Well it was many than one member that call the bail out nothing more but a scam.

I even opened a thread on it that didn't got much attention.

We knew it was a scam and the economic stimulus is nothing but another big scam.

We have been scammed thanks to the Federal Reserve bank cartel and now we have a president that is going to be moron enough to put the Treasury department in the Federal Reserve hands and give them sweeping powers over the economy.

If people has not seen the deception and corruption that has been going on in front of our eyes I just don't have anymore words for it.

reply to post by marg6043


You're right marg.

I just hope that people don't buy into politicians..whom all of the sudden...are coming to the rescue as saviors.

They voted for the damn bill....they should have known what was in it.

The american citizen continues to be stolen from....over and over again.

Yet somehow..this 175 million bonus deal is what is supposedly starting the outrage...not the billions that went to foreign banks.

I don't understand the public....at least the media is finally starting to report the outsourcing of billions...at least the right talk shows seem to be.

David, when Bush said during the first bail out that America will take care of our friends abroad, he wasn't joking

Now we know what he was talking about because when he said that It was not many people that heard him and neither any media gave much attention.

But I did. I got a conspiracy mind and a half.

Originally posted by marg6043
David, when Bush said during the first bail out that America will take care of our friends abroad, he wasn't joking

Another little tid bit from the article.

AIG massive payments to banks stoke bailout rage

While the news that AIG bailout money went to foreign banks could further stoke political outrage, some experts said the alternative could have been worse.

"The nationality of the bank should not matter," said Peter Morici, professor at the Smith School of Business, University of Maryland. "We have an inter-related financial system. You do something to mess with that and all bets are off the table."

I still would, at the very least, like to see the money stay in the US to help OUR economy.

Glenn Beck is on right now hitting this hard!!!!

2nd line

reply to post by j2000


Holly Crap!

He's hitting them really hard now. He looks like he's been on ATS with clips, facts, etc.

I am glad he is back!

reply to post by David9176


This is exactly what Beck is saying.

He is tearing up Barney Frank right now.

OH yeah...he just exposed AIG and all of the hypocritical politicians acting on FALSE OUTRAGE.

That's all i keep seeing from them...outrage..outrage..outrage..

Why not a peep about the money leaving the country you bastards!