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Originally posted by mybigunit
It wasnt an accident this was done for one reason and that is consolidation of power. This is what you call corporatism or a Mussolini style fascism which is an alliance of government and business which in this case is the banking industry......
I think we pretty much agree on this issue I think I just emphasize a little more blame on people for taking the bait than the government for throwing the bait out there.....
NEW YORK, March 25 (Reuters) - Several more employees are leaving the controversial financial products unit that brought American International Group Inc (AIG.N: Quote, Profile, Research) to its knees last year, according to a person with knowledge of developments there.
The resignations are in addition to the "handful" of senior AIG Financial Products executives who have already given notice, said the person, who could not quantify the total number of departures. (See related story [ID:nN23305936])
To date, AIG said the situation at the financial products unit remains "manageable," despite the departures. But if too many employees quit, Chief Executive Edward Liddy has warned it could be disastrous for AIG and, ultimately, for U.S. taxpayers who are the insurer's majority owners.
Originally posted by Karlhungis
reply to post by grover
I am not sure if you have read it or not, but the Rolling Stone has a great write up on how just a few people could bring down the entire company / global economy. The read is well worth your time.
There is some profanity in it. If you like the story, there is a thread called "The Big Takeover" that you could chime in on.
Originally posted by cryingindian
I agree that the bonuses were contracted. And to mess with them means that Government has the "authority" do dictate what contracts are do be/or not to be honored.
The bonuses were a drop in the bucket, anyway.
Has anyone read the recent headlines that Goldman Sachs (among others)is ready to "return" the monies the recieved through TARP? I wonder if there will be an interest charge.
Fiat currency can't sustain itself.